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Aug 22, 2024 · Mogo offers a range of financial products with many positive reviews, though it has some negative reviews for its personal loans. The company has been featured in The Globe and Mail, BNN and CBC. Go to site Read review. Loan amount: $1,000 – $35,000. Loan term: 36 or 60 months. Rates: 8.99% - 34.99%.
- 10 warning signs of a personal loan scam - finder.com
A loan scam is a fraudulent offer for a personal loan. This...
- 10 warning signs of a personal loan scam - finder.com
- 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.
- Is Loans Canada Legit?
- Watch Out For Fraudulent Impersonation of Loans Canada Employees
- How Can You Tell If You Received A Fraudulent Loan Approval Letter?
- “Legal Notices” & “Arrest Warrants” – Loan Scam
- Fraudulent Use of The Name “Loans Canada”
- A Note on Upfront Fees
- Red Flags to Watch Out For
- Bottom Line
Loan Canada is a legitimate business that is accredited by the BBB. It was first established in 2012 and now is one of Canada’s top-growing companies according to the Globe and Mail.
We have recently become aware of a new tactic that fraudulent lenders are using to scam consumers. They are creating fake loan approval documents using the names of real Loans Canada employees. Unfortunately, this makes navigating scams more difficult. Loans Canada does not send loan approval letters. Loans Canada is not a lender. You will never re...
Look at the email address sending the email. 1. It is suspiciously long? 2. Is it from a @gmail, @hotmail, or @yahoo address? If you would like us to verify an email you’ve received please email us at support@loanscanada.ca.
If you have recently received a “legal notice” or “arrest warrant” sent on behalf of “Loans Canada”, it is a scam. LoansCanada.ca will never send out any type of “legal notice”. Furthermore, an arrest warrant must come from an official law enforcement entity. No lender, financial service provider, company, debt collection company, debt collection o...
It has come to our attention that certain companies, operating under several names, have been posing as a loan referral service. After a consumer has applied with one of these “companies”, the applicant will have a specific amount of money debited directly from their bank account. The transaction description may contain the term “Loans Canada” or s...
We want to make it very clear that we, loanscanada.ca, do not ask our clients for any type of upfront fee, security fee, or insurance fee (read more about loan insurance scams here). This is not only an unethical business practice that greatly affects hard-working Canadians, but it is also a scam and it is illegal. If any loan company asks you to p...
Unfortunately, loan scams are extremely common. For every reputable lender, there is a fraudulent one looking to scam unsuspecting consumers out of their money. One of the best ways to help prevent these scammers from succeeding is to be as informed as possible. Here are some of the most common red flags to look out for: 1. The promise of a guarant...
The only way we can stop these deceptive companies is through vigilance. No matter what type of company you’re working with, big or small, well-established or new, if you have to sign a contract, please always make sure you understand what you are signing. Again, if you or anyone you know has dealt with this type of fraud, please get in contact wit...
Mar 15, 2024 · A loan scam is a fraudulent offer for a personal loan. This is done either to gather information like your Social Security number or to convince you to pay for a product you won’t receive. In general, loan scammers will present themselves like legitimate personal loan lenders. But certain clues, like a missing physical address, can be good ...
- Writer
Supplied. Fraudulent loan scams are becoming too common in Canadian communities big and small, putting many at risk each year of having their hard-earned money stolen. In fact, the Better Business Bureau of Canada reports that people across the country have lost millions of dollars to all types of financial scams over the past two years.
Sep 12, 2024 · Fake lender websites may look like the real thing, but they're designed to defraud consumers who visit them looking for loans. These scams often overlap with advance-fee loan scams and phishing or ...
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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.
