chargebacks

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!

dasha101

I have received a lot of emails offering low interests loan but asks for an advance payment for processing fee etc. Here in country, processing fee is really asked by creditors, but they are usually credited to the total loan amount.

Loan offers such as this is just one of the scams and frauds on the net.

marigot

I was unfortunate enough to be taken by one of these up front money scams. It was about 12 years ago before anyone really knew they were scams.

I believe I received a flyer in the mail. I called the 1-800 # and told them I wanted to consolidate my debt. Of course they could find me a lender which specialized in this type of loan - one without collateral and high risk on top.

So they said it would be $500 to find the lender but don't worry because I was guaranteed the loan within a week. I had no money but I did have about $500 left on one of my credit cards. I went to the bank the next day and got a cash advance.

They were in a hurry to make the deal which at the time I didn't think anything about that. I figured it was in my own best interest to conclude the business quickly. So I stupidly sent the money order by fedex to the "loans office".

Long story short - I never heard from them. They answered the phones when I called and kept telling me it would take longer because of the high risk. Well the deal never closed. I lost my money and they were all arrested.

But that still didn't help me because I never saw one cent of my money. The lesson learned from this and the advice, I now give others:

You need to think even twice as hard if you are desparate to find a loan. Your emotions make you do stupid things that would otherwise seem illegitimate.

peyton999

I have received a lot of emails offering low interests loan.they are in a big hurry so i think you need to think even twice as hard if you are desperate to find a loan.

creativity

I too am recieving these kinds of mails and i am fed up of them... I think these all are scams ,so just be very careful.....

karlahaze

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