Personal Loan Scams Advanced Fee Loans

By Cheryl Carpenter, published Jan 16, 2007
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It would seem that everywhere you look today there is a scam waiting for you just around the corner. Many times scam artists prey on those who can least afford a financial hit. When it comes to personal loans, the field is wide open to scammers. If is not unusual for an individual to seek out a personal loan. This can be for a variety of reasons, such as to consolidate bills, repair cars or homes, vacations and more. In actuality, a personal loan is just that. When you secure a personal loan, you are free to use the money for whatever purpose you see fit.

You will find that most types of financial institutions make personal loans. These institutions may be banks, credit unions, finance companies, or investors. You can even get personal loans over the Internet. While it is true that personal loans are available, it is very difficult to get personal loans without the use of collateral if your credit is not above average. This is where the problem begins.

Personal Loan Scams are one of the leading financial Scams in the United States. These personal loan scams are referred to as "advanced fee" personal loans. These loans typically are designed to prey on the ones which can least afford them. The individuals who seek out these loans generally have less than perfect credit or cannot get a loan for whatever reason. When a person makes application for a advanced fee personal loan, they are paying a fee before receiving the loan applicants are required to pay a processing fee. This fee can range from a hundred dollars to several hundred. After they have received your money they will disappear leaving you without a loan and empty pockets.

This scam goes on unreported as those who have been scammed generally feel embarrassed as a result of falling for the scheme. While there are a certain percentage of individuals who do report the incidence, they become very disheartened that most of these advanced fee personal loan scammer never get caught.

 
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Takeaways
  • When you secure a personal loan, you are free to use the money for whatever purpose you see fit.
  • Personal loan Scams, are one of the leading financial Scams in the United States.
Comments
Showing Comments 1 - 12 of 12
 
 
THE EXACT SAME THING HAPPENED TO ME.THERE WAS AN ADVERTISEMENT IN MY LOCAL NEWSPAPER IN FRANKFORT KY. ABOUT A CHRISTMAS LOAN. I APPLIED AND ABOUT A MONTH LATER I RECIEVED A CALL FROM TAMMY PINETTY SAYING THAT I WAS APPROVED FOR 3000.00 AND BECAUSE OF MY CREDIT SCORE I HAD TO EITHER GET A COSIGNER, PAY 1100.00 INSURANCE ON THE LOAN OR SEND SIX PAYMENTS OF 90.00 UP FRONT. SO STUPID ME SENT THE 540.00 THROUGH MONEY GRAM AND THEN THEY NEEDED THREE MORE PAYMENTS AND I SENT THAT AS WELL FOR A TOTAL OF 810.00 PLUS 60.00 TO SEND IT . THEN THEY WANTED ME TO PAY THE INSURANCE AND THATS WHEN I STARTED TO CATCH ON. A LITTLE LATE HUH.THEY SAID THEY WOULD SEND ME A REFUND BUT IT WOULD TAKE 30 TO 35 BUISNESS DAYS AND ITS BEEN AROUND 45 BUISNESS DAYS AND STILL NOTHING.THEIR # 18003940498 STILL HAS THEIR ANSWERING SERVICE BUT I CANT GET AN ANSWER. THE BANKS NAME IS WELLAND BANKER FOUNDATION SO STAY AWAY FROM THEM WHATEVER YOU DO.

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Posted on 04/26/2008 at 12:04:56 AM

 
I WAS ALMOST A VICTIM.THESE PEOPLE WILL TRY ANYTHING TO GET YOUR MONEY.THOSE FROM THE UK ARE THE WORST.IT IS SAD CAUSE MANY OF ARE IN SERIOUS US NEED OF HELP.JUST REMEMBER IF THEY ASK FOR MONEY IT IS ALWAYS A SCAM,YOU SHOULD NOT HAVE TO GIVE MONEY IN ORDER TO RECIEVE MONEY.ALSO NEVER GET TOO PERSONAL WITH THESE PEOPLE.INVESTIGATE,START MAKING PHONE CALLS,IF IT SEEMS TOO GOOD TO BE TRUE IT IS.

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Posted on 04/14/2008 at 7:04:09 PM

 
I as well, recieved a phone call from Kenneth White and he said that I was approved for $15,000 and I needed to send him $1,998 via Western Union. He faxed me some paper work with the address 2460 Woodbine Ave in Richmond Hill, Ontario (my home area). The day I was going to send him money, a voice inside of me told me to check out the websit again...I thought it looked professional as well as the faxed paper work. So I checked, and realized it was gone. Then I noticed that there wasn't any info on the top of the fax that usually reveals the sender, time, date etc. Then, I called the 1-800 number and pressed 1 to speak to a customer service agent, but, the phone disconnected everytime. Then, I called 411 to look up the listing and there isn't a listing for Azera Loans. Red flag, red flag, red flag! Needless to say, Mr. Kenneth White isn't getting any money. I can't believe I almost fell for it.

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Posted on 01/31/2008 at 11:01:21 AM

 
I am a victim I was told by Citizen Financial Group that I was approved for $5000.00 loan and was told to send 6 months of payments to secure the loan and I would get the money in my checking account the next day by 5pm...I was desperate for the loan so I sent them a wire to moneygram and recieved a call the next day stating there is a problem and they need another 6months of payments not only was it holiday time but I was also late on my rent and sent them what I had thinking that I would get the 5000.00 the next day...I adv I wanted them to send me what I sent them back and they said the couldnt and that I would get my money back in 2weeks it has been over a month and I still havent heard anything and I came across this website does anyone know how I can report this Im still very angry at them and myself for thinking this was a real bank.......and yes the web site did pull up for me so I thought they were legit

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Posted on 01/30/2008 at 9:01:32 AM

 
www.azeraloans.com is a scam. I've had the web site shut down.

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Posted on 01/08/2008 at 5:01:12 AM

 
I recieved a phone call from a person named Kenneth White who claims to be with Azera Loans. He said that I applied on line for a personal loan and was approved for $10,000. He made the loan sound great with a 6.5% fixed intrest rate until he said he needed $975.00 sent Western Union. I did not send the money, but being a police officer I decided to try and locate this guy. I called him back and had him fax me the so called contract and asked where his company was located. He told me Richmond Hill, Ontario Canada and gave me their web site (azeraloans.com). The web site is a good site. I looked at the application on the site and found that it did not ask for your social security number or date of birth like most do. I have not been able to trace the web site to the company Azera nor been able to trace the phone number given. If you or anyone else you know has had this problem please report it to the Federal Trade Commission. They are teamed up with Canada to try to prevent th

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Posted on 12/17/2007 at 11:12:44 PM

 
I wish I had did some research before I was scammed. I wired 2200 to ameritrust lending thinking I was getting a loan of a higher amount and haven't been able to contact them since. This really hurt me especially being so close to the holidays.

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Posted on 12/11/2007 at 10:12:14 AM

 
I was approved for $10,000.00 with Citizen Financial Group. They asked that I send $1,500.00 to them via Moneygram to an address in Canada to secure the loan. I did a little research before wiring the money and found out about the scam. Thankfully I didn't lose the money, but during the loan process I did release personal information to them. Advice to others. Check witht the Federal Trade Commision at www.ftc.com. They have great information and the ability to file a complaint. Hopefully this will save someone else the headache I am goign through.

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Posted on 12/04/2007 at 10:12:00 AM

 
I received loan approval notice from Lindeberg Financial, but they wanted 1200 to secure the debt. I paid the 1200 and then they requested an additional 980.00, which was my mortgage money. Now I will probably lose my house because of Lindeberg Financial. They said I was approved for 20,000 which I was counting on to pay some of my debts.

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Posted on 11/24/2007 at 4:11:00 PM

 
i am also a victim i wired 2100.00 to ameritrust lending and of course got nothing in return but headaches.

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Posted on 11/18/2007 at 6:11:00 PM

 
It is unfortunate what happened to you but I am very glad you posted your message. I was just "approved" for a $10,000 loan with them. All I had to do was send in $1250. to buy an insurance policy to cover the loan. I was actually considering it because I did not find any negative about them until now. Thanks again.

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Posted on 11/10/2007 at 11:11:00 PM

 
I am a victim of the personal loan. A person called me to say that I was qualified for 5,000 only if I send them 875.00 dollars at with point I did money gram the money to Lindeberg Financial if you have any contact with them please report them. I have file a complaint with the BBB. I really dont care about getting my money back, but they have to be stop so the wont try to get another victim like me. Lindeberg Financial company is a FRAUD.

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Posted on 10/31/2007 at 1:10:00 PM

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