URL: http://www.directlendingsolutions.com

For further information on how to avoid loan scams, on what to do if you've already been victimized, or how to choose a legitimate lender, visit directlendingsolutions.com
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A recent spike in the number of consumers taken in by advance fee loan scams has led to a flood of complaints to local and federal enforcement agencies by numerous victims suffering significant cash losses. Scammers often use names of legitimate loan companies and request advance fees or payments to be sent by money wiring services. Many victims are made vulnerable to further crimes, such as identity theft, because they've provided detailed personal and financial information.

Governmental agencies and consumer protection associations have reported an upswing in the number of complaints concerning advance-fee loan scams.  This scam is operated by crooks, claiming to be bank loan officers, who request fees and other monies to be paid in advance of a loan that is never made. Advance-fee loan scammers prey on the inexperienced, the poor, and those who may be desperate for a large loan because of their high-risk credit.

The scammers tell the consumer that the up-front fees are required to cover things like loan insurance, loan processing, or the even first payment on the loan. The scammer will further require that the money be wired, via such money transfer services as Western Union or Money Gram, typically to a location in Canada.

It should go without saying, that this is most certainly not a standard lender practice. Those who are inexperienced or are unfamiliar with standard lending processes can be particularly vulnerable to these scams. The unsuspecting consumer can become convinced that this type of advance payment is a necessary precaution on the part of the lender, given their poor credit histories and the enormous loan amounts for which the scammer claims the consumer has been "approved".

How to Protect Yourself:
Remember, aggressive solicitation of borrowers is not standard lender practice. Unless you have knowingly applied for a loan, and are expecting a follow-up call regarding that particular loan request, you should be suspicious of anyone actively pursuing you through unsolicited e-mails or telemarketing calls.

Be careful and research any potential lender. Be especially wary of those operating in other countries. Fraudulent lenders frequently make use of the names and logos of legitimate loan companies, so always verify contact information. If you have been scammed, report it to law enforcement and the Federal Trade Commission.
 
Keep track of all contact names and phone numbers. The reports you submit will increase the chance of the scammers being brought to justice.

Maintain a record of the websites through which you submit a loan application, and submit only through websites that display verifiable privacy and security seals.  Make sure the loan application appears on a secure (https) page.

Keep in mind, that if you apply for a loan online, you will typically receive a phone call from one of their licensed brokers or lenders.  Make a note of the caller's name, company, and telephone number.  Make sure all the details fit together.  Follow your instincts, and always remember that legitimate lenders will never require fees of any kind to be paid prior to loan disbursement. If you are asked to send money, you will know that you have just made contact with a scammer. Simply tell them to not call back, and hang up.

For further information on how to avoid loan scams, on what to do if you've already been victimized, or how to choose a legitimate lender, visit http://www.directlendingsolutions.com.

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