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1. www.sofi.com › learn › content12 Signs of a Personal Loan Scam | SoFi

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   Sep 29, 2023 · Identifying loan scams requires vigilance and attention to detail. Here are 12 warning signs to look out for. 1. Phone Offers. If you receive a phone call offering you a guaranteed personal loan or unusually low interest rate, it’s most likely a scam. Reputable lenders do not cold-call potential customers.

2. www.nerdwallet.com › personal-loan-scams6 Signs of a Personal Loan Scam - NerdWallet

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   • Text messages and robocalls. An out-of-the-blue robocall or text message inviting you to apply for a loan should give you pause, especially if you’ve had no prior contact with the lender.
   • Advertisements of ‘guaranteed’ approval. A trustworthy lender can't guarantee you'll get a loan without reviewing your credit and finances, so avoid those that promise approval before you’ve even applied, Breyault says.
   • No state registration. Lenders are required by law to register in the state where they do business. So if you have doubts about a lender, check to see if it’s licensed.
   • A bad online reputation. Research a lender’s online reputation to confirm (or quell) your suspicions. Enter the company’s name into the CFPB’s complaint database and the Better Business Bureau’s directory to see what others are saying about it, Martindale says.

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     Loan Scams | Here Are 5 Ways To Spot Personal Loan Scams | CNBC TV18

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     Scammers offer personal loans

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     Scam message claims you're approved for a personal loan you didn't apply for

     Mar 24, 2022

     2.3K Views

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4. www.investopedia.com › personal-loan-scams-toPersonal Loan Scams to Watch Out For - Investopedia

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   Sep 12, 2024 · Personal loan scams attempt to defraud their victims or obtain access to funds through identity theft. Requests for upfront fees and guarantees that seem too good to be...

5. www.marketwatch.com › guides › personal-loansHow To Avoid a Personal Loan Scam - MarketWatch

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   Sep 17, 2024 · Personal loan scammers pretend to be legitimate lenders to gain access to your personal and financial information. Here are some tips on how to identify a personal loan scam and what to watch...

6. www.fairstone.ca › en › learn8 Warning Signs of a Personal Loan Scam | Fairstone

   www.fairstone.ca › en › learn

   • No credit check required. If the lender is advertising that you can borrow money without undergoing a credit check, be cautious. Legitimate lenders will thoroughly assess your ability to pay the loan back by looking at your credit score, income, and employment history.
   • No physical address. Search for the lender’s address online or in a directory. If you can’t find a physical location or clear contact information for the lender, consider this a red flag.
   • Email address. If an email is coming from a personal email account (e.g. Gmail or Hotmail account), or the email address domain (the part after @) doesn’t match the company name or website, this is another clear warning sign of a lender looking to scam you.
   • Spelling and/or grammar mistakes. While fraudulent lenders want to trick people in appearing legitimate on their website or in their emails, there will often be spelling and grammar errors in their communications.

7. www.bbb.org › article › scamsBBB Scam Alert: Scammers impersonate legitimate lenders to ...

   www.bbb.org › article › scams

   Sep 3, 2021 · BBB Scam Tracker is receiving reports of scammers masquerading as legitimate loan providers. The phony lenders guarantee a quick loan with no upfront fees. But victims who provide their...

8. People also ask

   What is a personal loan scam?

   • Personal loan scams are fraudulent loan offers that aim to collect sensitive personal information and fees from victims—with no intention of ever extending a loan. Luckily, you can avoid these scams by keeping an eye out for red flags like upfront fees and vague or nonexistent lending requirements.

   How To Avoid A Personal Loan Scam – Forbes Advisor

   www.forbes.com/advisor/personal-loans/how-to-avoid-a-personal-loan-scam/

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   What are the most common personal loan scams?

   • Some of the most common personal loan scams involve fraudulent lenders acquiring your information or funds by promising a loan without a credit check. Others make unsolicited loan offers and then collect upfront fees or collateral before disappearing.

   How To Avoid A Personal Loan Scam – Forbes Advisor

   www.forbes.com/advisor/personal-loans/how-to-avoid-a-personal-loan-scam/

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   What happens if you get scammed with a personal loan?

   • The goal of their scam is to collect your personal and financial information, including your Social Security number or bank account so that they can commit fraud. As a victim of a personal loan scam, you can suffer unfortunate consequences, including significant financial losses and identity theft.

   How To Avoid a Personal Loan Scam - MarketWatch

   www.marketwatch.com/guides/personal-loans/how-to-avoid-a-personal-loan-scam/

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   How does a phony loan scam work?

   • The phony lenders guarantee a quick loan with no upfront fees. But victims who provide their banking information to the scammers are left in the negative. How the scam works: You receive an email advertising a guaranteed loan. The email displays a logo and contact information for what appears to be a legitimate loan company.

   BBB Scam Alert: Scammers impersonate legitimate lenders to steal

   www.bbb.org/article/scams/24780-bbb-scam-alert-scammers-impersonate-legitimate-lenders-to-steal-thousands-of-dollars

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   Are personal loan scams easy to fall for?

   • SOPL0423006 Personal loan scams are easy to fall for and can lead to financial loss and identity theft. Learn the warning signs, plus what to do if you’ve already been scammed.

   12 Signs of a Personal Loan Scam | SoFi

   www.sofi.com/learn/content/loan-scams/

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   How to avoid personal loan scams?

   • Luckily, you can avoid these scams by keeping an eye out for red flags like upfront fees and vague or nonexistent lending requirements. When shopping for a personal loan, you can also avoid scams by reading online reviews and getting lender recommendations from friends and family. What Are Personal Loan Scams?

   How To Avoid A Personal Loan Scam – Forbes Advisor

   www.forbes.com/advisor/personal-loans/how-to-avoid-a-personal-loan-scam/

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9. www.forbes.com › how-to-avoid-a-personal-loan-scamHow To Avoid A Personal Loan Scam – Forbes Advisor

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   Apr 22, 2024 · Personal loan scams are fraudulent loan offers that aim to collect sensitive personal information and fees from victims—with no intention of ever extending a loan. Luckily, you can avoid...