Banks, credit financial institutions, mini-credit companies. There are many options for getting cheap and fast personal loans. However, you need to be careful, because you could end up in the clutches of a fraudulent lender if you are not careful enough.
According to luminablog.com, the network is full of suspicious creditors whose sole purpose is to take advantage of the need of users seeking financing. I promise large sums of money with very low interest, but the reality is that the client will never receive the loan and will end up losing money.
The most common scams
Analyzing several personal loans online reviews, we noticed that the typical deception of fraudulent creditors is the abuse of people with financial emergencies, through strategies such as:
- Fast money, but inexpensive and very long-term conditions, which is endless payment methods and more disadvantaged debts.
- Theft of personal information for crimes such as extortion or identity theft.
- Theft of money by collecting “administration fees”.
Signs of a reliable lender
There are a few simple ways to rule out that the lender or lender is cheating you. The following are good signs:
He has a good reputation on the internet
No matter what you are asking for a loan for, don’t rush and take the time to Google the reputation of the company from which you will apply for the loan. Check company history and other users’ opinions; if most are good. Also, remember that financial institutions that lend money should ideally be included in the Register of Financial Service Providers (SIPRES) or the National Banking and Securities Commission (CNBV).
Enter the web pages of these institutions and you can consult the register on the internet, free of charge. You should only have the name of the company or financial company you are “investigating”.
Offer “moderate” amounts of money or depending on your ability to pay
A reliable lending company takes precautions and is transparent with its customers. If you approach them for the first time, in addition to reviewing your credit history, they are expected to offer you only the minimum, thus ensuring that you will have the ability to pay and will begin a relationship with you. payment for future loans. They will not promise to “take you out of the credit bureau”, because this is impossible, because invariably all loans and credits (whether they are paid on time or not) are reported to the Bureau.
Does not require you to sign contracts or make agency payments BEFORE applying for the loan
A reliable company knows that you are asking for money because you do not have it, so it will facilitate the conditions for obtaining it quickly, but it will NOT charge you before granting the loan. Although there are management procedures in place, they will be quick and should never “condition” you to pay “fees”, “insurance or opening fees” or any deposit before you know whether or not you will have authorized credit. If you provide personal information to perform any procedure, a trusted creditor will provide you with a reference or procedure number for future clarification.
Check your credit history, but don’t ask for private details
Trusted lenders review your credit history in a branch or credit circle as a procedure, but ask for your written authorization and also verify public information. Never ask for keys or passwords.