Home  |  Style  |  Creative Review  |  How to Protect Yourself from Fraudsters When Getting a Loan Online

How to Protect Yourself from Fraudsters When Getting a Loan Online

by Carlton Whitfield. Published Mon 04 Dec 2017 15:14

Nowadays, online lending is becoming extremely popular. You just need to have access to the Internet and a bank card of any type. Processing a loan takes from 15 to 30 minutes, and money comes to your card immediately after you sign the agreement. However, getting money is the easiest part.

In the article, we will tell you what you need to pay attention to when choosing a company to get an online loan so that you can return the money with no unpleasant surprises.

What to Pay Attention To?

Conscientious borrowers who are interested in obtaining fast loans on the Internet often wonder whether this is safe enough. Such a question is fully justified given that when filling in a loan application form, you usually need to provide your passport details, telephone number, residence information, etc. Of course, a lot of people have an idea that Personal Loans: Easy to Get and Simple to Pay Off, but unfortunately, it is not always so.

Nowadays, there are a lot of resources claiming to offer online lending services on the Internet. Typically, such resources simply collect personal data of naive borrowers to subsequently use this information for fraudulent purposes. That is why any Internet user who is going to get an online loan should be double-stranded to protect his information from fraudsters. This is especially true when it comes to submitting passport and credit/ debit card data that scammers can use to obtain a loan on behalf of a person who does not even suspect it.

Effective Ways to Protect Yourself

In this regard, there are a few simple ways to understand whether a specific online organization is a serious company which transparently provides loans to the population or it's simply a single-day website that deals with banal phishing.

Tip #1

First of all, it should be noted that, according to current legislation, only a limited number of organizations have the right to issue loans to individuals (banks, lending cooperatives and microfinance organizations). Be aware that only the latter can organize the issuance of small loans on the Internet due to the reporting features. The microfinance activity is regulated by the state, and the specially authorized agency keeps a register of such organizations.

Tip #2

Secondly, what a customer should pay attention to is the availability of phone numbers for obtaining feedback and information about the physical address of the company. As a general rule, the presence of these data is an indication that the site belongs to a registered company.

Tip #3

In addition to the first two tips, it should also be added that solid lenders never require a borrower to pay cash to get the loan. The only exception is the Internet companies that transfer loans from the plastic card of the borrower when an amount can be blocked for checking the validity of the bank card for further confirmation. According to The New York Times, it is a standard procedure that safeguards money transfer.

Using these few simple tips, and keeping your personal data safe, you can be quite calm about protecting your personal information by regularly using a convenient online lending service.




Comments

Post a comment

You have 140 characters left