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Advance-Fee Loan Scams

Have you had difficulty obtaining a loan? Scammers could target you with an advance-fee loan scam. Typically, they look for people with poor credit who have recently applied for loans, offering them a guaranteed loan or access to a list of potential lenders who aren’t as concerned with credit scores, as long as the individual pays in advance. They claim to work for a legitimate lending institution, such as a bank or credit union, but none of these assertions are true. Once the fee is paid, the scammers stall the process with endless excuses or disappear altogether. This form of personal loan fraud has affected people in cities across America.

False Promises (Advance Fee)

Small business owners are often vulnerable to loan scams. Watch to learn more about this woman’s unfortunate experience with a phony lender.

Fee Fiasco (Advance Fee)

This scammer used phony endorsements to earn people’s trust. Watch to learn more about this loan scam.

Protect Yourself From Advance-Fee Loan Fraud

  • Beware of guaranteed loan services

    Don’t accept any claims of guaranteed loan services at face value.

  • Obtain names

    Know whom you are doing business with. Obtain the name of the loan representative and the name, address, and telephone number of the lending institution.

  • Verify promises

    Before paying any fee, verify all promises the loan representative makes with the lending institution itself.

  • Ask for references

    Ask for references including addresses and phone numbers of other customers, and contact them to confirm the loans were successful.

  • Consult an attorney

    Consider consulting an attorney or accountant for advice.

Have You Witnessed This Scam?

If you’ve been affected by a loan scam and the U.S. Mail® has been used in any way, we want to help. Please report the crime.

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