10 Oct Beware of personal loan scams on the Internet! 5 tips to not be fooled
sking for a personal loan is not always an easy decision. You have to be aware of getting the most favorable conditions according to your ability to pay and be able to return it on time. In addition, the desperation for the need for money makes us trust anyone and that is always dangerous. Therefore, sometimes we can fall into the web of deception online and end up suffering a scam for asking for a personal loan.
5 Tips to avoid fraud when requesting a personal loan
We tell you 5 tips for you to avoid falling into these personal loan scams.
1. Extremely favorable conditions?
Normally the conditions to apply for a loan do not differ much from each other. That’s why when we meet very different conditions and requirements (and extremely favorable) than we usually see in other loans we should suspect.
Some examples of conditions that should arouse the alarm of fraud are the following:
Interest rates too low than normal
Do not start paying anything for another month
Does not require a bank account
These are some of the “advantages” offered by this type of fraudulent offers and that they use as a hook to be more attractive with respect to the competition. However, you can not get carried away by desperation and wanting to get the money you need with the best conditions. But a loan is a loan and we will have to pay it according to some interests and fulfilling some conditions that are not always the most favorable, but the necessary ones. Remember: easy money does not exist.
2. Beware of Facebook!
Facebook is a very attractive platform for companies to offer their services, among them there are also lenders. Financial institutions can offer loans through Facebook but we should not trust anyone, there are different signs that can indicate that the company is a fraud:
For example, that your Facebook page does not respond to questions and comments from your customers . A legit company will always be concerned about its customers and will be willing to resolve any doubts that may arise. However, if we find a Facebook page full of questions and complaints without any response, it should make us suspect.
On the other hand, the fact that a financial institution takes advantage to offer its services in comments of other pages of companies may also indicate fraud. That type of spam comments usually indicate that the company is not legit, since they appear on the pages of other companies offering a very attractive offer without providing data of their own identity, or where they come from, or how they relate to the company. etc and the links of your pages take you to a landing page that does not offer more information than that of the loan offer.
3. Misspellings in the mail
It is very important to check all kinds of details that can give us information about the company, especially how it shows its image to its customers. The use of spelling mistakes or errata in their texts , or grammatical errors may indicate carelessness, a bad translation of the information and above all, a possible fraud.
Fraudulent loan companies are usually of foreign origin so they resort to poorly translated translations of their texts and carelessness when writing, which is already a sign of fraud in itself.
4. Request for money in advance
A legit financial institution will NEVER ask you for money in advance to cover your services . Neither in terms of fees or management fees, nor a payment as deposit in advance, nor membership fee … no advance payment in the application for a loan can be justified, it does not make sense since the one requesting money is you .
At all times we must be sure of the transparency of the procedures that are carried out with the lender company and that we do not make any payment that we do not know what objective it has or that is duly justified.
Keep in mind that a fraudulent loan can cause more economic problems than solutions and can cause you to end up reporting in the Veraz .
5. Inquire on the reputation of the company
Request a loan online can always generate some distrust to protect our money and the security of our data, that does not mean that all companies can be dangerous, but many others and you have to find a way to prove it.
To be sure that a company is legit we must perform all the checks that are in our hands. One of the things we can do is inquire about all kinds of information about the company on the internet, ask people if they have references of that company, how it works, check if there is a contact telephone number, address of the offices’ headquarters and photos, company name, references of other companies within the sector or ask the lender directly all the information we need. Every measure is small, and the best way to discover a scammer is to ask and press until you can fall into an error.