Personal Loan Scams to Avoid

Personal Loan Scams

After the explosive growth of online lenders, it has brought a lot of benefits to consumers all over America. What it has also brought about are plenty of opportunities for fraudulent criminals to defraud Americans. These criminals come up with ways to separate hard-working people from their money, which can cause a lot of people to experience loss of finances and can bring about headaches of all types.

We at Personal Loanser can help! We prioritize helping out our customers, which is why we came up with this guide to protect you from devious scammers who only want to take your money. The guide below tells you about the most popular scams, as well as the tactics that these scammers are more likely to use on unsuspecting consumers.

The Tactics That Scammers Are Most Likely To Use

Getting A Phone Call In Which You’re Offered A Loan

At Personal Loanser, we never call people out of the blue to offer them a loan. Anyone who wants a loan from us will need to visit our website and start the process there. If you get a call from someone offering you a loan, immediately hang up the phone.

Getting a Phone Call Claiming That You Owe A Lender Money

Every lender in our network follows the letter of the law when calling one of our consumers. That means that we will not threaten or harass you, even in the event that you owe us money. If someone who claims to be from our network says that you owe them a past due balance, that call is not coming from us. Do not provide this scammer any information. Hang up the phone immediately and report the caller.

Any Caller Who Asks For Your Bank Or Website Log-In Information

Anyone who claims to be from our lending network who asks for your bank account information or banking website log-in credentials is definitely a scammer. When you visit our website and start the loan request process, we will gather all of the information that we will need from you at that time. We will never have the need to ask you for your online banking username and password. Never provide this information to a caller who asks for it.

Any Caller Who Says That They Are From Our Network

Unless you have asked us to call you, we will never make an outbound call to any of our customers. If a caller claiming to be from our network contacts you from an unknown phone number or a number that is different from our business number, hang up without giving them any personal or financial information.

Any Caller That Requests Money

Some scammers will call unsuspecting consumers and tell them that they have been approved for a loan. But in order to get the loan, the consumer will need to send them some money. No lender in our network will ask you to send a check, a wire transfer, or any sort of money before you receive a loan for which you got approved. If they do, then it is a scam and it is illegal. If this happens to you, hang up the phone without giving the caller any of your financial information.

What You Should Do If You Think You Have Been The Victim Of A Scam

We work hard to protect your personal information every single day. If you believe that you got a phone call from a scammer, report them to the Online Lenders Alliance number. When you report a would-be scammer to this hotline, you’ll do your part to help other vulnerable consumers so that they too can escape the clutches of criminals.

Report a scam by calling the OLA hotline: 1-866-299-7585

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