Beware of Loan Scams

@lokisdad (4264)
United States
November 27, 2015 3:32pm CST
Beware of loan scams usually around the holiday times everyone is feeling lots of financial strain and scammers know this and take advantage. Don't be a victim of one of these scams. The scammers are claiming that you have been pre-approved for a loan. This is the first red flag lenders do not pre-approve you. Do not be fooled by the scammers when they tell you that they will wire you the funds but first you have to pay some kind of fee. Lenders don't charge you money up front to borrow money. If you had money in the first place you wouldn't be looking for a loan. Do not give out your banking information or any other personal information that could be used to steal your money or identity. If you decide you need to get a loan get it from a reputable lender do it in person in the establishment and not over the phone or internet.
4 people like this
5 responses
@Missmwngi (10783)
• Nairobi, Kenya
27 Nov 15
And always have it in mind that you never applied for any loan so why get approved when you did not apply in the first place
1 person likes this
@lokisdad (4264)
• United States
27 Nov 15
Yes and of course if you didn't apply for a loan then you definitely know its a scam but if you applied online be very careful.
1 person likes this
@Missmwngi (10783)
• Nairobi, Kenya
27 Nov 15
@lokisdad Sure there are always those who want what does not belong to them
1 person likes this
@lokisdad (4264)
• United States
28 Nov 15
@Missmwngi Sad thing is that they are becoming harder to tell apart from the real loan places because the people you talk to sound so convincing.
1 person likes this
@DeborahDiane (23792)
• Laguna Woods, California
28 Nov 15
This is great advice! There are so many horrible scams around!
1 person likes this
@lokisdad (4264)
• United States
29 Nov 15
Thanks aside from random posts I try to do tutorials or share information I think could help someone
@SilverKing (1023)
• Canada
28 Nov 15
Email loan scams are very prevalent now due to the holiday season. Best advice is to only borrow from licensed lenders or a close family member. These sorts of scams are only there to steal your money or personal information for identity theft related crimes. When in doubt, do not attempt to borrow from unlicensed lenders or scam artists.
1 person likes this
@lokisdad (4264)
• United States
28 Nov 15
they change it up every few years and find new ways to con people out of their money.I remember when it was travelers checks. and the counterfeit money. Now the scammers are brazen and call you nonstop to lure you in.
• United States
28 Nov 15
Yes, there are all sorts of loan scams now a days especially during the holiday season. I hear some on the radio as well and then there is a speaker at the end of the commercial that talks fast and says the interest rates (which is crazy high!) I don't trust any loan place only the bank or something!
1 person likes this
@lokisdad (4264)
• United States
28 Nov 15
What sucks even worse now is that many of these scanners are misrepresenting themselves pretending tho be representatives of reputable organizations. What is the world coming to? No boundaries anymore everyone is prey they spare no one.young and old a like.
@kaka135 (14115)
• Malaysia
27 Nov 15
I just don't dare to trust those loans where there seem to be too easy to apply or very low interest rate. Yes, it'd be better to get a loan from reputable lender, to save all the troubles in the future.
1 person likes this
@lokisdad (4264)
• United States
27 Nov 15
yes because it could cause you to have your identity stolen or money and make your life more problematic for a longer period of time.