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Loans taking money

Date: 11/8/2019 9:33 AM (PST)

Can a company that is giving you a loan. Have you pay money in prepaid cards take that money and say they are refunding it back with the loan amount. Then say you need to pay an insurance fee and then again say there is another fee so when you cant pay for it since the previous 500 is now on their check that is your loan amount. They get to keep it and only refund you the 200 that was requested for insurance?

Category: Business

Responses: 1

1 Reviews

824 Answers


Date: 11/12/2019 11:26 AM (PST)

Ileen, this is a scam. Anytime a company that advises you to purchase prepaid cards in order to get a loan is trying to scam you. A legitimate loan company will not make this type of request and it strongly recommended not to engage with a business that would ask you to do this. A legitimate loan company will go through all the proper channels. They will check your credit rating, may require references, and when all that checks out, then may offer you a loan. Any company that tells you no credit check is required or promises to give you a loan no matter what, raises red flags about their credibility. I am including a link to our resource guides on loans. They contain a lot of useful tips and information that the average consumer may not be aware of: I can be reached directly at if you have additional questions or concerns.

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