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The beginning of a new year is a financially distressing month for a lot of people. There are a lot of bills to pay and very little money left from holiday partying. Because of this, many people resort to online fast cash loans for quick money to satisfy their expenditure needs.
As you seek for a solution for your financial problems, scam lenders are also working hard to siphon money from the pocket of hard working Australians. Fraudulent companies invent new ways tricking consumers every other month. Since we are in the business of lending, we can help you protect your money by identifying these three major warning signs.
1. Offer Seems Too Good To Be True
If it sounds too good to be true, you can be sure that it is. If an online fast cash loan provider is offering an “instant approval” for a ridiculously large amount of cash, take the offer with a grain of salt. No legitimate quick cash lender will offer you a sum of greater than $2000 without asking for your score or checking your credit history. In fact, if anyone tells you your loan has been approved even when you have not completed a thorough application you can almost be sure that it is a scam.
2. They Call You First
If you get a random call out of the blue of someone offering you a loan you can be sure it’s not the gods that have listened to your cry and sent an angel your way. Your first instinct should be that you’re encountering a scammer, even if it’s a family member or friend. It’s important to stick to one online fast cashsite, and if you must borrow from two lenders then ensure that you keep track of all the companies you borrow from.
You should also only speak with legitimate lending company personnel if you are receiving a call from their callback system, as is popular with some companies. To be certain that the caller is genuine, request for their name and callback number. If the caller doesn’t want to disclose this then trust your instincts and disconnect the call immediately.
Sketchy telemarketers will usually try to call you using a number that has a close resemblance to yours to get you to pick up the call. There are other ways you can be tricked into answering a scammer’s call, but this is the most popular one you should look out for.
3. They Ask For Money before Releasing the Loan
The one thing that will completely convince you that you are working with a scam lender is if they are asking you to make some payment before issuing a loan. Why would a quick cash lender ask you for money upfront while it’s the same money you were looking for? Why should you pay to be given a loan? Although it sounds unreasonable when you think about it, many Australians give in to such requests at the heat of the moment.
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