Beware of predatory loan scams

Ashley White said:And what if the lender suffers a stroke in the meantime?

Either way, he’s screwed.

Ashley White said:This whole situation reminds me of when I was trying to sell my car and ran into those "we buy any car" shady dealers.
Let's say the car is worth $5,000—just as an example—and I could easily sell it for $4,500 if I just waited a month, yet this "expert" has the audacity to offer me a measly $1,500.
I mean, if you actually possess the expertise to value a vehicle, why on earth would you settle for a tiny profit margin that nobody is going to pay you, instead of just letting me sell it for $4,500 and walking away with an extra $500 in my pocket?
It’s the exact same nonsense you see with loan sharks; they aren't interested in making a reasonable buck a month without lifting a finger, they just want to bleed you dry for astronomical amounts. It's pathetic.

How can they not lift a finger if you consider they're taking on all the risk?

Charles Ramos7 said:Either way, he’s screwed.

True enough, but if I happen to suffer a stroke, then I suppose I'll be smoking in both scenarios anyway.😁

Charles Ramos7 said:How can they not lift a finger if you consider they're taking on all the risk?

Look, I’m no lawyer, but surely we can strike a deal where I take on the lion's share of the risk.
After all, there are those two massive lending agencies out there handing out thousands of dollars at sky-high interest rates; surely they have some sort of built-in safety net, given how successfully they operate.

Ashley White said:Lately, there’s been a sudden surge of rather peculiar offers popping up everywhere:

"FAST and easy access to $8.25—no need for notarization, Red Cross background checks, or blacklists. Just call or send a text."

And? Did you actually reach out to them?

Rebecca Green7 said:And? Did you actually reach out to them?

I did. They’re offering to set you up with a Diners Club card, claiming you can then withdraw those credits through it. Personally, I have my doubts about being able to pull that much cash out immediately after the card even arrives.

Yeah, there’s no way they’d just hand over that much cash right out of the gate. You might be able to swing a personal loan, but that isn't the same thing as having liquid capital in your hands.

Most of you guys begging for cash are only in this spot because nobody wants to lend to you in the first place. Now suddenly you’re trying to set all these rules for how people should loan you money? If you don't have any collateral, then someone would basically have to lend to you out of pure charity...

Just offer something solid as security, pay your bills on time, and you won't have an issue....

You aren't asking someone to give you *your* own money. If you don't pay, that apartment becomes theirs... and honestly, who's going to stop them? You think you'll just pack up and walk away smoothly? Yeah, dream on....

Loans for the unemployed... look, if you're unemployed, I'm assuming you have zero income. If you have no income, where exactly do you plan on getting the money to pay back a loan?

At the end of the day, you’re still stuck using your kidney as collateral 😁

Bradley Wilson5 said:Most of you guys begging for cash are only in this spot because nobody wants to lend to you in the first place. Now suddenly you’re trying to set all these rules for how people should loan you money? If you don't have any collateral, then someone would basically have to lend to you out of pure charity...

Just offer something solid as security, pay your bills on time, and you won't have an issue....

You aren't asking someone to give you *your* own money. If you don't pay, that apartment becomes theirs... and honestly, who's going to stop them? You think you'll just pack up and walk away smoothly? Yeah, dream on....

Loans for the unemployed... look, if you're unemployed, I'm assuming you have zero income. If you have no income, where exactly do you plan on getting the money to pay back a loan?

Well, look at a perfect example from today: an elderly couple got totally fleeced because they signed a purchase agreement as a form of guarantee, allowing some guy to snag an apartment for $25,000. Should we be throwing him a parade just because they have to sue him now?

Morgan Evans83 said:I did. They’re offering to set you up with a Diners Club card, claiming you can then withdraw those credits through it. Personally, I have my doubts about being able to pull that much cash out immediately after the card even arrives.

Has anyone actually managed to secure a Diners Club card and pull that credit through those intermediaries? What was the actual experience like?

Has anyone here ever actually dealt with this agency before—agencija.ppd@gmail.com?
They’re running ads online claiming to offer loans, and apparently, this email is their one and only way to get in touch.

Rebecca Green7 said:Has anyone here ever actually dealt with this agency before—agencija.ppd@gmail.com?
They’re running ads online claiming to offer loans, and apparently, this email is their one and only way to get in touch.

The phone number matches several previous scams using different email addresses; they'll demand you deposit money into some betting site before they even consider approving a loan.😁

I figured it was just some kind of scam...

I’ve also been on the phone a few times with this woman—someone here in the States claiming she works for that German Scholz finance firm out of New York City regarding a mortgage loan. Everything sounded great at first, low interest rates and all that, but I couldn't help feeling suspicious when she said I had to pay $2,000 upfront just to cover "processing fees"—stuff like translation costs, her travel expenses to Germany, and various paperwork.
😁
She kept insisting the firm was totally secure and that there wouldn't be any issues, but still...
Anyway, I ended up hanging up on her because paying $2,000 in advance to some stranger feels like way too much money to just throw away on a hunch...
Has anyone else actually secured a mortgage through them, or maybe someone else got contacted by them and heard the exact same story??
I'm really curious to know!

Spot on—you’ve hit the nail on the head with this topic, and honestly, it wouldn't be fair if the moderators decided to scrub the post 😁

Morgan Evans83 said:It’s getting impossible to find an honest lender these days. I posted on a forum looking for a $3,000 loan, even offering my condo as collateral, and this one guy reaches out with a contract stating that if I don't pay back the $3,000 plus interest by the deadline, he becomes the legal owner of the property. Look, I get it—he wants some form of security—but who in their right mind would sign away a home worth over $300,000 just to cover a three-grand debt? I wouldn't mind if he placed a lien on it, but this doesn't exactly scream "good intentions."

Your debt would overtake the value of the property in no time. The way these people calculate interest is predatory—compound interest stacked upon compound interest—and there is always the risk that you won't be able to reach them for months. You try to settle the debt, but by then, the interest has ballooned. Suddenly, they are standing at your door, everything perfectly legal. It isn't about earning interest for them; the goal from day one is to seize your home for a tiny down payment of a few thousand dollars.
Don't be naive. If you are desperate for cash, sell the place. Or trade it down for something smaller and use the difference to cover your needs. If you have any sense, you could actually turn a profit on such a move.

hollowraven17 said:I’ve also been on the phone a few times with this woman—someone here in the States claiming she works for that German Scholz finance firm out of New York City regarding a mortgage loan. Everything sounded great at first, low interest rates and all that, but I couldn't help feeling suspicious when she said I had to pay $2,000 upfront just to cover "processing fees"—stuff like translation costs, her travel expenses to Germany, and various paperwork.
😁
She kept insisting the firm was totally secure and that there wouldn't be any issues, but still...
Anyway, I ended up hanging up on her because paying $2,000 in advance to some stranger feels like way too much money to just throw away on a hunch...
Has anyone else actually secured a mortgage through them, or maybe someone else got contacted by them and heard the exact same story??
I'm really curious to know!

I've actually seen some of their "pre-loan" setups before...

Basically, you hand over $2,000, and they promise that in a year or two, you'll land a loan for, say, $200,000 at a 2-4% fixed rate.

If you fall for that, well, I guess that's on you.

Honestly, just take that $2,000 and go out for a nice dinner instead. At least then you know where the money went. 😂