Has Anyone Ever Heard Of A Company Call Credit Source Loans ?
Posted by China Sourcing CommentatorAug 2
They are a company out of canada. Are they legit or is it a scam. I was offered a loan for 10,000. The lady told me in order to receive the loan I would have to send them 1,000 to secure the loan. Why would I need to send them 1,000 dollars when they are about to send me 10,000? Does that make sense? I smell a scam
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They are NOT legit. This is a common scam in which they will lead you on to believe that you are going to receive a loan. The fact is, all they will do is keep asking you for “security deposits” of 3 to 6 mos worth of payments on the loan because you are such a high credit risk. They will ask you to Western Union these payments to some person you haven’t even talked to, and will have you give a secret word or code so they can pick up the money. Once they have the money, they lead you on that your loan proceeds will be in your account within 24 hours. Problem is, you never see this. Then you call them, and since you were so naive to wire them money, they have another hook for you. This time they say that your loan fell through, but (lucky you) they have another lender who will finance your loan, thing is, you have to wire them ANOTHER 3 mos of payments or some such thing. If you balk and tell them you want the original money you sent, because you are getting wind that this might be a scam, they will say they will refund it, but it will take up to a week to get back…or if you are silly enough to wire more money, what happens is at this point, they stop answering the phone, you never get a refund, they close their website ..you get the idea. They have your money, you have no loan.
DO NOT fall for this. You should NEVER have to pay someone prior to receiving a loan. These people prey on the vulnerable who would otherwise not be able to be financed.
you are not to put up money for a loan. It is a scam. Legit companies pay a financing fee after your loan is funded about 25 not 1000.00 Uk always have scams i hope youdidn’t give them info. Good luck
Scam
no
Legitimate loans take any fees out of the proceeds. You NEVER sent them money first.