Before you read this post, check
out the Web site for Esteemed Lending
What did you think?
complaints about every week in the Credit.com forums. Fortunately this one won’t
rip people off like the ones we’ve heard about. That’s because it’s a fake Web site created by the Federal Trade Commission to try to show consumers how convincing advance fee
loan scams can be.
We’ve written about advance fee loan scams on our site and
blog before. Here are just a few of the more recent complaints we’ve
received from would-be borrowers who were taken:
I sent all the money I had in my bank to them- with the
assurance that i would have the 50 grand… So they said they would refund my $2160.
(My note: No refund was forthcoming.)
My wife and I were victims of the same scam. We Western
Unioned them almost $3000.00 for 'loan insurance'. After we didn't receive our
$10,000.00 loan that they told us we qualified for, we of course called them to
ask what the problem was and they wont take my calls. Now there number is
disconnected.
The FTC has warned you, and we've warned you. No matter how convincing these sites may seem, there are no "private investors" or "private lenders" eager to make high-risk loans to consumers. Please, please don't send an upfront fee to one of these companies.
GerriDetweiler – Personal finance author and Credit Advisor for Credit.com, Gerri contributes
budgeting, debt recovery and savings information online. She is also the
co-author of Reduce
Debt, Reduce Stress: Real Life Solutions for Solving Your Credit Crisis.
Gerri Detweiler Credit.com's Personal Finance Expert, Gerri focuses on financial legislation, budgeting, debt recovery and consumer savings information. She is also the co-author of Debt Collection Answers: How to Use Debt Collection Laws to Protect Your Rights, and Reduce Stress: Real-Life Solutions for Solving Your Credit Crisis as well as host of TalkCreditRadio.comTalk Credit Radio. Reach Gerri at creditexperts@credit.com.
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