Did the Simplified Loan Solutions underwriting department call you to let you know that you had been chosen as the fortunate receiver of a pre-approved loan? Don’t be duped; it’s a fraud.
The spam call says;
“Hello this is Tina calling you from the simplified loan Solutions Underwriting Department. We’re just reaching out to follow up on a preapproval notice that was mailed out to you a few days back. It looks like we just need some additional information to finalize your approval and we also like to inform you that the $75,000 preapproval offer is due to expire soon so we urge you to take advantage of this great opportunity to pay off your high interest loans and credit cards and possibly keep some extra cash in hand. Give us a call back so one of our agents can assist you with finalizing your funding.”
The Scam
A simple phone call from a fake “lender” offering a wonderful guaranteed rate on a loan that has been “pre-approved” signals the start of the con.
It will be emphasised by the caller that having a poor credit history is unimportant. In fact, they won’t give a damn about your credit history.
A one-time payment of $500 (or more!) is needed to guarantee the loan.
Of course, there is no such thing as a guarantee of acceptance.
A huge red flag is any request for payment in advance.
Never should you have to provide your credit card details to make a payment before getting funded.
How to avoid being scammed
Whether it’s a live person or a robocall, ignore the call!
Don’t enter a number if you’re prompted to! It’s dangerous and could result in long-term identity theft.
What if someone tricks you into picking up the phone? Don’t divulge any financial or personal details. Additionally, be aware that numbers can be changed (false caller ID would be displayed).
