Are you looking for a loan or a credit card but do you think you do not meet the requirements? Did the bank reject your request because you have an unsatisfactory credit history? You may be tempted by those ads and websites that guarantee a loan or credit card without considering your credit history. Rule number 1: Providers who legitimately operate never “guarantee” or say they are likely to receive a loan or a credit card before submitting your application, especially if you have poor credit, do not have credit or file for bankruptcy.


Six signs that undoubtedly indicate an advance charge loan scam


There are some red flags that can help you detect the tricks used by opportunistic scammers. For example:


A lender who is not interested in checking your credit history

credit history

A lender can offer loans or credit cards for different purposes – for example, for you to start your own business, or to consolidate your invoices. But a lender who doesn’t care about his credit history should be a cause for concern. The ads that say things such as “Do you have credit problems? No problem, ”or“ We don’t care about his past. You deserve a loan ”, or“ Get money quickly ”, or“ Already, without problems – and guaranteed ”, usually indicate that it is a scam.

In general, banks and other lenders that operate legitimately evaluate the creditworthiness of the applicants, and before granting credit to a person, confirm the data of the loan application.


Charges not reported clearly or prominently

credit loan

Fraudulent lenders can tell you that they have approved the granting of a loan, but later, before giving you the money they call you or send you an email demanding that you pay a fee. If a lender wants to charge you some type of advance charge before granting the loan, it is best to keep looking for credit elsewhere, especially if they tell you that the charge is to cover the costs of “insurance,” “processing,” or simply to the “stationery”.

Legitimate lenders usually charge an application fee, appraisal or to process your credit report. What is the difference? They report their cartoons clearly and prominently; they charge the charges by deducting them from the loan amount; and usually, they are paid directly to the lender or loan agent after loan approval.

And what happens if a lender tells you that it will not verify your credit history, but asks for your personal information, such as your Social Security number or your bank account number? Turn to another provider. You may use your information to collect the hidden charge by debiting it directly from your bank account.


A loan offered by phone

A loan offered by phone

It is illegal for companies that operate by telephone within the United States to promise you a loan or a credit card and ask you to pay before granting them.


A provider who uses an imitation name or similar to others

A provider who uses an imitation name or similar to others

Malefactors often choose names for their companies that sound similar to those of recognized or respectable organizations and create websites with a very professional design. Some opportunistic scammers have pretended to be representatives of Better Business Bureau offices, an important bank or other reputable organizations; and there have even been some cases of fraudsters who print false stationery or pay some people to give good references. Always look for the company’s phone number in the phone book or ask for the information service and call to verify that the provider is who you say you are.Also get the physical address of the company: a company that publishes a PO Box or Mailbox in its advertisements instead of a physical address must be checked before the corresponding authorities.


A provider that is not properly registered in your state

mortgage loan

Loan entities and loan agents must register with the state in which they operate. To verify if the provider is properly registered, call your state Attorney General’s office or the Banking or Financial Regulation Department of your state. Verifying that the provider is registered does not necessarily imply that you will be satisfied with their services, but at least it will serve to rule out fraudsters.


A lender who asks you to make a money transfer or to pay a certain person

A lender who asks you to make a money transfer or to pay a certain person

Do not pay anyone directly to get a loan or credit card; Providers who operate legitimately will never ask you to do so. Also, do not use a money transfer service or send payment orders to obtain a loan. If a problem arises with the transfer of money, you will have scarce resources to solve it, in addition, legitimate lenders do not pressure their clients to turn them around.

Lastly, do not assume that a finely designed promotion sent by mail, an advertisement for a loan located in an important place in your neighborhood or published in your newspaper, or an advertisement broadcast on television, internet or on the radio is a deal. convenient – or even legitimate. Opportunistic scammers strive for you to think they are legitimate, so it is very important that you take the work of investigating.


How to deal with your debts

debt loan

If you have debt problems, try to resolve them with your creditors as soon as you realize that you will not be able to make your payments. If you cannot solve the problems on your own or if you need help, you may want to contact a credit counseling service. In all states there are non-profit organizations that advise and instruct individuals and families who have debt problems by developing budgets and teaching them to use credit wisely. Usually, these services cost little money and in some cases are free. Low-cost or free credit counseling programs are also offered at universities, military bases, credit unions and housing authorities. To learn more about the subject, read Choosing a credit counselor.