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Beware Fake Loan Scams
26/07/2010
In a bid to boost their finances, a number of people are falling foul of fake loan scams, warns
The Citizens Advice Bureau (CAB)
Teresa Perchard, CAB director of policy, said that many people are being taken in by
firms requesting set up payments of between £35 and £2,000 for loans which then fail to
materialise. During recession it is quite often hard to find someone who will loan money and therefore it opens the system up to scamming. If you are asked to pay upfront in the promise of a loan it is unlikely to be a genuine company and chances are you will not see that money again.
Homeowners aged over 55 years who are looking for a safer way to increase income or pay
off debts and would like to know how much money the value of their property could release
to help, can find out by contacting therightequityrelease.co.uk for equity release advice.
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