These people are scammers. I got online doing research on a home refinance. I filled out what I thought was a legit application, only putting in a tiny bit of my information. I work in media, so I am so skeptical of most things online. I did include my phone number in the app. I spoke briefly with the individual just to see what he had to say (especially once I realized what type individual I was speaking with). He had a thick Middle Eastern accent, but advised me his name was "Michael Smith". Really? They claim to be a payday/installment loan company. They offer to loan you money, but to "prove" you have 10% down to cover your first payment (for a loan of say $1000), they want you to go to the nearest CVS store & purchase a "voucher" and put $100 on it for them to "verify" you are good for the first payment. I ask the guy what type moron did he think me to be & did he really think I was going to go load $100 on a card for him to scam me. I finally grew tired of his shenanigans & told him this was not even the type of loan I was look for & do not call me again. He hung up on me. If this even helps one person but aggravation was not in vain.
These people are scammers. I got online doing research on a home refinance. I filled out what I thought was a legit application, only putting in a tiny bit of my information. I work in media, so I am so skeptical of most things online. I did include my phone number in the app. I spoke briefly with the individual just to see what he had to say (especially once I realized what type individual I was speaking with). He had a thick Middle Eastern accent, but advised me his name was "Michael Smith". Really? They claim to be a payday/installment loan company. They offer to loan you money, but to "prove" you have 10% down to cover your first payment (for a loan of say $1000), they want you to go to the nearest CVS store & purchase a "voucher" and put $100 on it for them to "verify" you are good for the first payment. I ask the guy what type moron did he think me to be & did he really think I was going to go load $100 on a card for him to scam me. I finally grew tired of his shenanigans & told him this was not even the type of loan I was look for & do not call me again. He hung up on me. If this even helps one person but aggravation was not in vain.
Thank you very much i just had a guy call me with a scam claiming i was approved for a loan and to go to Walgreen or cvs or rite aid and put 220.00 on a government card for 1st payment verification you really helped me from being scammed thank you very much"
Things to remember about loans offered by phone or e-mail:
Loans
1. No reputable lender will lend you money over the phone.
2. No reputable lender will lend you money by e-mail
3. On-line lenders are nothing more than conduits for another loan scam.
4. Advance fees for loans are always illegal. At least in most American states.
5. If you want to borrow money, go to an established brick and mortar lender that has been around awhile.
6. If you receive a call from someone with an Indian accent either a. threatening you or b. offering you something, you know it’s a scam and you should hang up immediately.
7. These people are predators, the calls are not random, they have information that they have bought from various sources and know your financial history. If you have ever taken out a pay-day loan, they have all your information. They know who they are calling. They like to pick on women, single mothers, the elderly and members of the immigrant community. Also, those who might be in financial difficulty.
8. Report them here: http://www.stopfraud.gov/report.html