I got a call at 6:30 am this
morning ( OUCH ) from a young 20 year old woman got scammed with
canwestcredit.com. She was at work and couldn't spend alot of time reading our
site which is full of information on these Bad credit loan scams.
This painted a scenario for
somebody who would apply for a bad credit loan.
If you've got bad credit and
recently have applied for a loan with Royal Bank, TD Canada Trust, Bank of
Montreal, ScotiaBank, Bank of Commerce, and have been denied, then you need to
take heed to that.
There are other lenders that may
help you out such as HouseHold Finance, which is a HIGH RISK lender.
The point is, if you're desperate
for a loan, you're probably going to shop at places on the internet that
indicate that they can help people with bad credit.
The scammers are telling
unsuspecting people that they can help give them a "bad credit loan".
This is obviously appealing to those who are desperate for money.
FIRST POINT TO KNOW:
It's illegal for a loan company
to ask for a fee or down payment up front in order to give you Cash
loans bad credit. This is the first alarm bell.
If a bad loan credit officer asks
you to wire them money via moneygram, or western union, your money will most
likely disappear!!
SECOND POINT TO KNOW:
If you're not familiar with the
bad credit lender, then they may not be legitimate. If you're seriously
thinking of dealing with this company, you need to keep in mind that lenders
and mortgage brokers must be licensed to do business in your province. You can
call Consumer Protection-Corporations branch to see if this Bad credit loans in Canada
company is registered with the Provincial or Federal governments. ( Banks are
registered Federally in Canada )
THIRD POINT TO KNOW
Just because a bad credit loan
company has a phone number, doesn't mean that they're in Canada.. A
phonebusters.com representative that I interviewed suggested that with the
tools on the internet, scammers can get a phone Canadian phone number and have
it forwarded to Hong Kong or some other far away place. This means that the
predators might be living in a far off land while you think they're in Canada.
FOURTH POINT TO KNOW - IDENTIFY
THEFT
NEVER NEVER NEVER give out
personal information such as social insurance number, date of birth, address to
people or companies you don't know. In this case, these bad credit loan
scammers are more than likely going to steal your personal information and use
it to buy products using your name. You'll get the bill for these stolen
products and get stuck with hours and hours of explaining to do with the
suppliers that are being stolen from. www.badcreditloansincanada.com
Article Source: http://ezinearticles.com/?Bad-Credit-Loans-In-Canada---Scams?-Be-Careful&id=772134
