‘Guaranteed loan’ scams are a common scheme
used by fraudsters to dupe people in need of financial help. They promise to give you a loan on minimal terms and without checking your creditworthiness, but demand upfront payments or fees for services.
Key characteristics of ‘guaranteed loan’ scams:
Advance fee demand: No genuine credit institution or bank will ask for advance payments before granting a loan. If you are told that you have to pay a certain amount in advance, it could be a scam.
No credit check: Fraudsters promise to grant a loan without checking your credit history, which may sound too good to be true. Genuine lenders always check the borrower's credit history to determine their ability to pay.
Unprofessional approach: Scammers often don't provide proper documentation or don't give detailed information about the loan. Genuine lenders always provide a contract and other documents so that you can check the loan terms.
Official website and contact information: Check that the lender has an official website and contact information. If the information looks suspicious or doesn't match the official data, it could be a sign of fraud.
Fast approval: If you are promised instant loan approval without verification, it could be a scam. Genuine loans are processed and approved after careful analysis and verification of the borrower's data.
Remember that genuine loans do not require advance payments or fees for services. Be vigilant and cautious about offers for ‘guaranteed loans’. If you have doubts, consult a professional financial advisor or contact reputable credit institutions to obtain a loan.
