I run a small business and was in need of a line of credit. They promised me stimulus money but I needed to pay an up front fee. I paid that fee. Then they got me excited about more grants and loans that I could get but needed more investment. All together I gave them $13405.71 and I have no received a loan, a grant or any stimulus money!
If this company calls you, please read below.
Advance fee loans often take advantage of the most vulnerable members of our society. These shady companies often promise large unsecured loans to people who are unable to have a loan approved through traditional financial institutions, or take advantage of trusting souls with little financial experience. Armed with a smooth as silk sales routine and a complete lack of conscience, these scam artists often steal amounts that range from hundreds to thousands of dollars from unsuspecting consumers. Adding insult to injury, these slippery characters often gather enough personal information from their victims to make them candidates for identity theft as well. To avoid becoming a victim of this type of fraud, please read the information below.
Loan fraud warning signs:
Be especially wary of unsolicited calls, e-mails or letters offering you a loan.
Requests for money to be sent in advance to cover "processing", "application", "insurance", or the "first month's payment" are a red flag of loan scams. Legitimate lenders NEVER ask for these things to be paid before a loan is disbursed.
Once you fall for a loan scam, the greedy thieves may ask for even more money by telling that the original amount was erroneous, insufficient upon a second look at your credit, or that you will need to send payment for a second company to complete the loan process.
Requests that you "wire" or "send" money, as soon as possible to a large U.S. City or to another country, such as Canada, England, or Nigeria, by Western Union, Moneygram, or similar means.
Read the scams submitted by our visitors.
Have you have been scammed? Report It to:
The FTC
The FBI
PhoneBusters (to report the toll-free numbers being used in Canada)
Your local police (but don't automatically assume the company name and address on your documents are legitimate. Remember, the scammers use fake addresses, those of REAL companies, or random residential addresses far away, in order to hide their operation)
File fraud alerts with each of the three credit bureaus. This is necessary because the scammers typically obtain your sensitive information, such as your Social Security Number and information on your driver's license. They can use this to obtain credit in your name.
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