Advance Fee Loan Scams are just another trick some of the illegitimate lenders use in trying to entice you to acquire your loan or credit card from them. Don't be fooled.
Legitimate lenders never "guarantee" or say that you are likely to get a loan or a credit card before you apply, especially if you have bad credit, no credit, or a bankruptcy.
If you apply for a real estate loan, it is accepted and common practice for lenders to request payment for a credit report or appraisal. However, legitimate lenders never ask you to pay for processing your application.
Never give your credit card account number, bank account information, or Social Security Number over the telephone or Internet unless you are familiar with the company and know why the information is needed.
If you don't have the offer in hand -- or confirmed in writing -- and you're asked to pay, don't do it. It's fraud and it's against the law. Please contact the FTC if you have any questions or concerns on someone offering you an Advance Fee Loan or Credit Card scam.
It is important that all of us as consumers become knowledgable on credit card issues and other financial related material.
Advance Fee Loan Scams -- Tips For Avoiding
