loan or scam?

Question

Im going to get a unsecure loan for 7500 and they want about 12% down. Is this real or is it a scam, just someone try get some money out of me.

Answer 1

Sounds like a scam. Why can't they take the 12% out of the loan check? Usually all fees are taken out of the loan amount, not paid upfront. Sounds really really fishy! Be careful.

Answer 2

Loan scams are becoming increasingly common on the internet. The common signs of a loan scam include:
· Incredibly low interest rates, often around 5% for the life of the loan
· Receiving a loan offer in an unsolicited email or phone call
· Either implying or guaranteeing approval of the loan, no matter what the applicant's credit history
· Advertising unbelievable loan deals all over the internet, as well as in newspapers and magazines
· The request for advance fees that cannot, for whatever reason, be taken from the loan
· Asking for said fees to be paid via Western Union or MoneyGram

Please understand that loan scammers can often appear to be legit. Some will send authentic looking faxes and emails with letterhead stolen from real companies. Others create professional quality websites for their fake loan company, to make the scam seem more real to their victims. Many even go so far as to set up toll free phone numbers. Don't be fooled. Once the scammers have received as many "advance fee" payments as you will part with, they will take your money and disappear.

* Note- A less common variation of this scam involves the scammer offering to send a check or money order that you are to cash. They will tell you to send the fees for the loan as soon as the check has "cleared". Be warned! The check or money order you will receive is fake or stolen. Just because your bank makes the funds available for you to withdraw, it does NOT mean that the check has cleared. Fair banking laws in most countries require that the bank make deposited funds available for withdrawal long before the check actually clears the issuing bank. It can take up to 6 months for a bad check to be returned, and you WILL be held responsible for the full amount when the check bounces or is reported stolen.

Usefull links below

Answer 3

It is definitely a scam.

You have to come up with $900 for them to issue a check for $7500, it doesn't make sense.

I borrowed from many difference sources.
Countrywide, BoA, Credit Union, 401K, personal loan, unsecure loan, SBA loan .... none of them ask for a down payment they only charge a small fee for application process.

You are borrowing money because you don't have money, in this case you have to have money to borrow money, think about that!
.

Answer 4

What do you mean 12% down? Warning, warning. Here is a good place to check out. This company has plenty of free information for you. This company has been featured on national TV news casts (not infomercials) and published in several magazines such as Newsweek. This company is where people lend money to other people. Good Luck.

http://www.prosper.com/join/heyhobbs

Answer 5

Scam. If THEY are giving YOU a loan, why would you be paying them 12%? Ask them to just take it out of the loan proceeds and send you the rest, and see what they say.

Answer 6

Just someone trying to get your money. and unsecured loan is just that unsecured(no money down or anything else)

Answer 7

Who is the company and i might be able to tell you
I have gotten so many of the same thing.

Answer 8

Good for you for posting a warning,we all know who he is now-and who cares if this isnt a question,this guy probably saved someone money!!!

Answer 9

Taking you for a ride. Go somewhere else.

Answer 10

Advance Fee SCAM.

You pay the fee....they disappear.