Each Friday, we like to take a minute to focus on some positive news in the credit world. This week, it is a loan scam case with a happy outcome. I love a good story of an everyday person smartly thwarting a loan scam. Tracy stood up for herself, made a simple request and stopped the scammers dead in their tracks:
I informed him that I was not going to send his any money via Western Union or Money gram. If this was legitimate, I would either have my bank wire the money, send a certify check, or have it directly withdrawn from my accounts as to leave a trail in case this was a scam. I think this threw him off because he was suppose to call me back ASAP to inform me how to send him the money. I called him the next day and he did not answer or return my phone call.
In the meantime I did some research and found other people posting with similar cases involving the same company. I will not be a fool.
Well done, Tracy! This is a great lesson for anyone who might be contacted by a loan scam. Ask tough questions and refuse to wire transfer any funds.The loan fraudster will drop you like a hot potato.
Emily Peters – Credit.com's personal finance expert and former TransUnion credit bureau insider. Emily writes about credit reports, credit cards, loans and personal finance as the CreditBloggers.com editor.