Tips
For Avoiding
Advance-Fee Loan Scams
Legitimate lenders never "guarantee"
or say that you are likely to get a loan or a credit card
before you apply, especially if you have bad credit, no credit,
or a bankruptcy.
If
you apply for a real estate loan, it is accepted and common
practice for lenders to request payment for a credit report
or appraisal. However, legitimate lenders never ask you to
pay for processing your application.
Never
give your credit card account number, bank account information,
or Social Security Number over the telephone or Internet unless
you are familiar with the company and know why the information
is needed.
If you don't
have the offer in hand -- or confirmed in writing -- and you're
asked to pay, don't do it. It's fraud and it's against the
law. |