Scammers are ready to take the cash of unsuspecting people who desperately need loans.
How do they do it? They promise an unsecured loan for a hefty processing fee. Once paid, the con runs off with the fee – and the victims are out the cash AND don’t get the loan.
These scammers like to advertise on Craigslist and in publications like the Thrifty Nickel. Scammers are even savvy enough to set up a Web site for their fake company, then take it down a few weeks later and relaunch it under a different name, the Wisconsin Better Business Bureau reports.
“Schemes preying on people looking for loans are not new, and they are flourishing in an economy when so many are struggling to get by,” said Randall Hoth, president/CEO of the Wisconsin Better Business Bureaus said in a statement. “The complaints received by BBB are only the vocal few and we know from experience that many more people across the country are falling for this scam every day—just when they can least afford it.”
Read more at the Wisconsin BBB or this terrific article in the Idaho Statesmen.
Mon, Jun 7, 2010
Scams