Have you received an unsolicited email declaring that you have approximately $5,000 loan at your disposal? The online loans offered take the form of educational loan, business loan, home loan, agricultural loan, personal loan, auto loan and just about every possible type of loan one could think of. The email sender tells you that you can borrow as much as 1,000 - 5,000,000 in Euros, Pounds or Dollars. They offer a 3% interest rate in a duration of 1- 30 years depending on the amount you borrow. They make the offer a tempting one by not requiring a collateral, and in some instances, zero interest as well.
Getting a loan can be quite a process and people in great need or have bad credit might be tempted to apply for loan offers they get on emails. How safe are these online loans and why must we be cautious?
While not all online loans are not illegitimate, we should be cautious when responding to emails like this. For one, you have to ascertain whether the company is legitimate or not. If they do not use a domain address but use a free email, it may be a clue that the sender is a scammer.
Scammers do this to commit identity theft or fraud. Logically, you can’t get a loan without giving personal and financial information. The more information you give the easier it is for the scammer to steal your identity.
In some instances, they will require you to send money in advance “to cover fees” which are not deductible from the loan. This does not make sense because if you have the money to begin with, why would you be applying for a loan?
When you get unsolicited emails like this: (1) delete the email as soon as possible. (2) Do not open the email, or if you do, do not click any of the links provided. Chances are, it is infected with malware that could steal important and confidential information from your computer. (3) Do not apply for the loan, no matter how tempting the offer. Go to someone you trust and save yourself from stress; it is not easy to hop from one government agency to anther to prove your identity and straighten their records once your identity is stolen. If you have bad credit and the chance of getting a loan is nil, borrow money from family or a friend who understands your situation.
If by any chance, you have fallen under their trap and you are a victim of a scam, you can contact the your State’s Attorney General, file a complaint with the Federal Trade Commission or the Internet Crime Complaint Center.
This blog is not legal advice, but shares information on the law. We are living in hard times; people lose their jobs and many are struggling to make ends meet. Legalbargain.net gives back to society by sharing it’s knowledge and producing advocacy videos to put justice within the reach of those who believe justice is only for those with money.
Comentarios