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Payments & checks
Advance fee loans: the loan that costs you money first
Guaranteed approval, no credit check — but first, a 'small fee'. Why paying to borrow is the oldest loan scam in the book.
HOW IT WORKS
You need money, and an ad or message offers a guaranteed loan — no credit check, instant approval, bad credit welcome. After you apply, the 'lender' finds a problem: a processing fee, insurance, a 'refundable deposit'. You pay. The loan never arrives, and every follow-up 'fee' is another excuse. The caller becomes unreachable once you stop paying.
RED FLAGS
- Guaranteed approval. No legitimate lender guarantees anything.
- No credit check at all.
- Fees before the loan is paid — real lenders deduct costs from the loan, they never ask you to pay first.
- Contact only by phone or messaging app, no office, no licence.
- Pressure: 'the offer expires today'.
WHAT TO DO
- Check the lender is registered with your country's financial regulator.
- Never pay any fee to receive a loan.
- Report the number and the 'lender' name on SCAMEND.
- If you paid, contact your bank about a possible fraud refund.
REMEMBER
A lender who needs YOUR money to lend you money is not a lender. It's a cash register.