Most of the people do experience credit card fraud, debt, and loans scams daily, some may end up getting tricked, and some don’t. Credit scams to watch out for are those who often promise to lend you a loan after you have paid a certain amount of fee (loan origination fee) which might be $50 or even up to a few thousand dollars. Therefore, you should know these loans scams and how to identity theft and credit card fraud and also how to check if a loan company is legitimate.
Therefore, let’s have a look at how to avoid credit card fraud and loans common scams.
When you have bad credit and someone promise to help you get a loan only after paying some advance fee, please don’t buy it and stop credit card fraud. It may seem like a dream come true, but it is a loan scam.
How to avoid this type of Debt and loan scam.
This applies to the stolen or lost credit cards, identity theft and credit card fraud cases.
Know your rights. The first step is to report the stolen or lost credit card. Because if it is used you’re only liable to incur a $50 fee is used before you report and not liable at all if used after you’ve reported according to federal law.
There are no ways to erase a bad credit record; only time can solve that. Avoid any bad credit card fraud that promise to fix your bad credit and provide you online credit monitoring.
Credit repairs, according to federal laws, always involve contract and payments after they have kept their promises.
Get free government grants” is a trick they use to get your social security number, identity theft number, bank acct numbers or processing fee. Therefore:
Be aware of identity theft cases, unsolicited emails, messages, letters and phone calls that tend to promise you free Grants. The government doesn’t do that.
Phantom debt scams mostly affect those consumers who are looking or have made an inquiry about payday loans. So, how can you avoid these loan scams?
Hang up if the caller starts asking for your financial details or asked for wired money transfer.
Students may try to lessen the burden on their parents by seeking for scholarships, thus increasing the prospect of them being scammed or identity theft fraud. Stay safe by:
Knowing who you are dealing with.