Chargeback Forum - View Single Post - Advance-Fee Loan Fraud

chargebacks · 03-20-2007

In this world of the money-controlling universe we all know that it is inevitable to get by without some form of income to keep a roof over your head and food in your belly. Even though, however, some people might be strapped for cash and in a bind over what to do, there are several things that one shouldn't do just for the enticement of the possibility that one might receive some money. One of these things involves the Advance-Fee Loan ploy, which is only designed to put money into the hands of the scammer.

If you have never heard of this type of loan before and are not familiar with it, the scammer usually puts up ads in the Classified section of the newspaper or even somewhere online to entice its customers. The ad usually makes some reference to not having enough credit or good enough credit to get a loan. It says that with this deal you are going to be guaranteed a loan, but you first need to pay so much so that the person can "process" the loan deal. Sometimes there is an 800 number that you can call to find more information about this "legitimate" offer. Usually they ask for money to be sent by Western Union. So you decide to send money through Western Union in the hopes that this person or business can actually approve you for a loan. What happens instead is that the person takes the money, runs off with it, and never communicates with you again.

The first red flag in that story is the ad about the loan in the first place. Unless there is a promotion going on at a bank or a credit union, legitimate loan offers usually will not be printed in newspapers, posted on bulletin boards, or scattered throughout the online world. Even though it would be nice to think that all someone would need to have in order to approve you for a loan is 50 or so dollars, sometimes that is only wishful thinking.
Another red flag is the fact that they are asking you to send money through Western Union. You should be wary of any legitimate business asking you to send money through Western Union for anything, but especially for a loan. After you send the money through Western Union there is no refund, so unless you are absolutely positive that this person is going to approve you for a loan, stay away from doing such business deals and agreements.

There are loans for people with bad credit and you will find out about such loans at credit unions and banks. It is not a good idea to put your eggs all in one basket and use the ad that you found mysteriously in the Classified section as a legitimate loan offer. On the contrary, be cautious of any person or business that asks you to do such a thing and stay clear of sending Western Union to people that you are unsure about, especially if they are enticing you for a loan!

03-20-2007	#1 (permalink)
chargebacks Administrator Join Date: Feb 2007 Posts: 237 Rep Power: 10	Advance-Fee Loan Fraud In this world of the money-controlling universe we all know that it is inevitable to get by without some form of income to keep a roof over your head and food in your belly. Even though, however, some people might be strapped for cash and in a bind over what to do, there are several things that one shouldn't do just for the enticement of the possibility that one might receive some money. One of these things involves the Advance-Fee Loan ploy, which is only designed to put money into the hands of the scammer. If you have never heard of this type of loan before and are not familiar with it, the scammer usually puts up ads in the Classified section of the newspaper or even somewhere online to entice its customers. The ad usually makes some reference to not having enough credit or good enough credit to get a loan. It says that with this deal you are going to be guaranteed a loan, but you first need to pay so much so that the person can "process" the loan deal. Sometimes there is an 800 number that you can call to find more information about this "legitimate" offer. Usually they ask for money to be sent by Western Union. So you decide to send money through Western Union in the hopes that this person or business can actually approve you for a loan. What happens instead is that the person takes the money, runs off with it, and never communicates with you again. The first red flag in that story is the ad about the loan in the first place. Unless there is a promotion going on at a bank or a credit union, legitimate loan offers usually will not be printed in newspapers, posted on bulletin boards, or scattered throughout the online world. Even though it would be nice to think that all someone would need to have in order to approve you for a loan is 50 or so dollars, sometimes that is only wishful thinking. Another red flag is the fact that they are asking you to send money through Western Union. You should be wary of any legitimate business asking you to send money through Western Union for anything, but especially for a loan. After you send the money through Western Union there is no refund, so unless you are absolutely positive that this person is going to approve you for a loan, stay away from doing such business deals and agreements. There are loans for people with bad credit and you will find out about such loans at credit unions and banks. It is not a good idea to put your eggs all in one basket and use the ad that you found mysteriously in the Classified section as a legitimate loan offer. On the contrary, be cautious of any person or business that asks you to do such a thing and stay clear of sending Western Union to people that you are unsure about, especially if they are enticing you for a loan!