Fraudulent loans? Do not fall in the trap!

Since 2016 online loans are a novelty that attracts many people and have even saved the economy of some. Although they are beneficial loans, some unscrupulous have taken advantage of the boom to generate scams. In this note I teach you how to recognize fraudulent loans. Do not fall into the trap or affect your personal finances.

The mode of scammers

The mode of scammers

Those who were scammed with fraudulent loans offer them through unofficial channels. This is how they use media such as whatsapp, websites or emails to contact you.

The messages that these people send are very attractive, almost impossible to believe, but since they give you data that seems to be true you can easily fall into the trap. Once they get your attention they seek to get all the information possible to achieve the scam. They usually look for you to provide them with personal data. Some even ask for money in exchange for larger amounts to the “commissioners.”

Interest rates

Interest rates

The interest rates offered on fraudulent loans are usually impossible. They are too low!

It is true that there are banks that offer a lower rate than others, but there is an average within the sector. Therefore, when you are in doubt about an interest rate that is too low, you better go to a comparator.

Loans in record time

Loans in record time

While it is true that online loans offer you the advantage that they can be granted in record time, not everyone can access them, there are even certain restrictions such as: having a good credit history and having an account in affiliated banks.

The scammers take advantage of this method to reach those who are most desperate to acquire money, so it is the case that they can tell you that they will give you loans in less than 5 minutes regardless of your history, the bank in which you have your bank account, if you are in Askcorp, etc.

If someone offers you a loan under any of the methods described and you are aware that your credit history is not clean, ignore the message or hang up the phone, it is a scam wherever you look.

An advance

The typical thing about people offering these loans is that they will ask you for money in one way or another. No bank asks you for an advance on a personal loan and it is the way scammers make easy money.

Final tips

With these tips you will be able to identify when they offer you a fraudulent loan. Do not let the economic situation you are going through despair and lead you to accept unlikely options. If you want to know if you really qualify for a loan and which ones you can access, enter our option “Self-evaluate” and get out of doubt instantly.

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