There are a number of recommendations for identifying companies offering loans that may not deliver what they promise. These are notorious frauds or scams, which have been increasingly common and are claiming more and more victims who were previously uninformed.
It's crucial to know how to spot fraud, as it can cause major problems, such as huge debts for money you never received. This is common with older people who accept a loan that will be deducted from their retirement and become permanent.
But if you think older people are the only ones falling for this type of scam, you're wrong. Many young people who lack knowledge end up falling into these traps. Or worse, they give out their information for a loan that never comes through.
How to identify instant loans that are scams
Have you ever received a loan offer that seems too easy to be true? The first thing you should know is that loan management companies are usually intermediaries between the applicant and a financial institution (bank), offering immediate loans without guarantees or collateral.
Discover some tips in this article to help you identify these companies and avoid falling for scams. This way, you can also avoid a major problem, so take note.
How to identify them?
- The information they provide about the service they offer is unclear or contradictory;
- They ask for minimum requirements and the amount they offer you as a loan can be high;
- They only undertake to carry out the paperwork and administrative services with the banks;
- They ask you to pay commissions and fees, but they never give you the promised amount;
- As part of their advertising, they ensure that you don't need an endorsement or verify your income to access credit;
- They offer not to review your credit history with the SPC;
- They guarantee that they will give you the loan immediately;
- They are usually advertised nationally in print media and offer immediate solutions to your financial problems.
What should you do?
- The first thing is not to answer calls, emails or WhatsApp messages in which you receive any immediate credit;
- Do not make any deposits to open a commission or do any paperwork;
- Read very carefully the terms and conditions under which they offer their services;
- Do not hand over personal documents or credit or debit cards;
- Before paying the commission for management fees, make sure that it is feasible for them to provide you with the loan.
If you are looking for a loan or financing, it is best to go to a formal institution. To do so, you can consult the National Consumer Protection System (PROCON), which can provide you with information on authorized institutions.
Likewise, it released the name of the management companies that had the most complaints during 2019-2020 with the name of the company and the number of complaints, respectively:
2019
1st BRADESCO (conglomerate) 1,910
2nd SANTANDER (conglomerate) 1,085
3rd PAN (conglomerate) 564
4th BMG (conglomerate) 326
5th BANRISUL (conglomerate) 115
2020
1st C6 BANK (conglomerate) 7,802
2nd PAN (conglomerate) 4,643
3rd HARVEST (conglomerate) 1,144
4th PARANÁ BANK (conglomerate) 225
5th FACTA FINANCEIRA SA – CREDIT FINANCING AND INVESTMENT 201
The main claims of these companies are in relation to offers or provision of information about products and services in an inadequate manner or lack of reliability of services.