Loan Scam: They Are Using Your Life As Collateral!

There are times when we need the extra money. Maybe, you want to buy a house, pay off a credit card, or buy a car. This is when you need to get yourself a loan and spend that money wisely. You would also pay it back accordingly. Now, the way the loan scam works is that you go to place looking for a loan. They advertise that you are GUARANTEED one. So if you know your credit is bad or you are in a jam, you would be susceptible to this scam. Now, these places charge you a fee up front to process your loan request and tell you that you are a approved. Then they say it would take a couple of days for the paper work, but have no fear, you are approved. They just took your money and ran.

Now, these are scams in which the scammers set up a storefront to lure in unsuspecting people. They will do all of their business within a few weeks and close up shop. Now, imagine all the people they have scammed within that two-week period. They would have to juggle calls and “clients” and would probably end up making a few thousand dollars in the process. This is about as nameless as it gets.

The bottom line is that if you want to avoid this scam, you should just go through the proper channels to get a loan. If times are tough, you need to weigh your options properly and not dig yourself into a deeper hole. Avoid these operations at all costs!

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