Educational Consumer Tips
Better Business Bureau
If you think you're involved with a company that might be operating as an advanced fee loan scam, look for these signs:
1) Did you apply for your loan online or via a newspaper classified advertisement? Don't be fooled by professional-looking websites. Just because a website looks legitimate, doesn't mean the services it is offering are! In fact, our investigations have found that many times those websites or classified advertisements are paid for using stolen credit cards.
2)Were you asked to send a "collateral payment" before you receive your money? It is illegal in the United States to ask for money in advance of a promised loan. Typically, the scam artists ask you to wire these payments to Canada. Unfortunately, the loan funds that were supposed to be electronically deposited into your account never arrive.
3)Are you able to independently verify the company's address? If you are not able to find an address for the company on its website, you should proceed with caution.
In addition, if you've received documents with the company's address on it, you should independently verify that the address is legitimate using websites such as www.reverseaddress.com www.yellowpages.com You should also research the company on our website at www.wisconsin.bbb.org
For tips on advanced fee loan scams you can follow this link: http://datcp.wi.gov/uploads/Consumer/pdf/AdvanceFeeLoanScams199.pdf