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1. 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. Here's how to sidestep...

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.

3. Videos

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     Business Loan Scams: Borrower Beware!

     Oct 11, 2019

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

     Aug 7, 2023

     862 Views

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     3:47

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     Loan Fraud: How Scammers Get Free Money In Your Name | Aura

     May 18, 2022

     4K Views

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

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   Sep 17, 2024 · Learn more about effective strategies to prevent personal loan scams. Discover how to safeguard your finances from fraudulent schemes and frauds.

5. www.finder.com › personal-loans › personal-loan-scams10 warning signs of a personal loan scam - finder.com

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   Mar 15, 2024 · In general, loan scammers will present themselves like legitimate personal loan lenders. But certain clues, like a missing physical address, can be good ways to spot a fake loan. Phone calls and social media messages are common ways for a scammer to contact potential victims.

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

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   Sep 12, 2024 · Online personal loans are safe if you're working with a verified, reputable lender. Learning how to recognize personal loan scams can help you avoid untrustworthy lenders.

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

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   Sep 29, 2023 · 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. It is illegal, in fact, to make loan offers over the phone.

8. People also ask

   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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   How do you know if a personal loan is a scam?

   • You may also be able to distinguish a scammer from a legitimate lender based on their pitch. If the lender guarantees approval, is vague about fees and loan requirements, or indicates that your credit score is irrelevant—it’s likely a personal loan scam.

   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 is a loan scam?

   • 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.

   10 warning signs of a personal loan scam - finder.com

   www.finder.com/personal-loans/personal-loan-scams

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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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   Should you avoid a personal loan lender?

   • If you find no trace of the lender or no way to contact the company, it’s best to avoid the lender. Another red flag is if a personal loan lender offers unrealistic loan terms or guarantees. The lender may pressure you to act fast before the offer expires and may boast there is no approval process.

   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 do you spot a loan scam?

   • 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 ways to spot a fake loan.

   10 warning signs of a personal loan scam - finder.com

   www.finder.com/personal-loans/personal-loan-scams

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9. www.businessinsider.com › how-to-avoid-loan-scamsLoan Scams: How to Identify and Avoid Them - Business Insider

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   Jul 17, 2024 · The best ways to avoid a loan scam are to thoroughly research the lender, never pay any money up front to get a loan, question promises of guaranteed approval, and be wary of how lenders reach...