Learn more about loan scams:
Guaranteed Approval
The guarantee of a loan, regardless of your credit history, is a sure sign of a scam. Legitimate lenders review your credit report and validate the information in your application before making a loan decision. Never provide personal information or wire money to an unknown lender in response to the promise of a loan. The loan will not materialize, your advance fee will be lost, and your personal information may be in the hands of an identity thief.
Credit Repair
Beware of companies offering to “fix” or “erase” your credit for a fee. No one can erase negative credit information if it is accurate. Any actions available to a credit repair service are available to you. If you discover an error on your credit report, follow the dispute instructions provided by each of the three credit reporting agencies.
