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Scams That Target Those With Bad Credit
Posted on May 6, 2007 by
I read an excellent blog with a summary of scams that target individuals and businesses with less-than-stellar credit. Scammers know that as your credit score goes down, your options for credit do too. They feed upon the desperation of an individual with a bad credit score who needs more credit to keep afloat.
That’s when the victim is easy prey for the information mining scam that goes after individuals and businesses offering loans. A legitimate sounding financial institution sends a loan packet asking for all the usual information such as social security number, date of birth, and bank account numbers. After the recipient sends in the application, the scammers go after the money in his bank accounts.
They aren’t after your credit, it’s bad enough to be of little or no use, but they do have your bank account information, and soon there’ll be no money in your account, either.
The other 2 scams that the blog talks about are the advance fee scam and the contractor/home improvement scheme.
Filed under: Credit, Fraud, Identity Theft, Scams
Tags: advancefee, bad credit, debt, informationmining
Comments
KYLE HAINES on May 26, 2007
HI, MY NAME IS KYLE HAINES AND I HAVE BEE TRYING TO RECEIVE MY INHERITANCE FUNDS FROM NIGERIA FOR 5 YEARS NOW AND I WISH I KNEW SOMEONE WHO WOULD GO AFTER ALL OUR ( CONTRACTORS AND BENEIFICARIES ACCOUNTS OVER THERE, AS I HAVE PROMISES FROM THE PRESIDENT OF NIGERIA HIMSELF BUT TO NO AVAIL ALL THE HIGH OFICIALS KEEP PASSING AROUND MY FILE ALL ATTEMPTING TO GET ME TO PAY MORE AND MORE MONEY TO RELEASE ALL MY FUNDS, BUT I HAVE GONE BANKRUPT; $200,000.00 PLUS TO THEM AND STILL NOT ONE USDOLLAR HASBEEN SENT TO ME, THEY HAVE GOTTEN AWAY WITH EVERY CRIME IN THE BOOKS AND STILL KEEP ON GOING & GOING. IF YOU HAVE ANY INFORMATION FOR ME PLEASE EMAIL ME AT tuffbarn05@yahoo.com THX
Mortgages on Apr 30, 2010
If you've got bad credit and recently have applied for a loan with Royal Bank, TD Canada Trust, Bank of Montreal, ScotiaBank, Bank of Commerce, and have been denied, then you need to take heed to that.Mortgages
Mortgages on Apr 30, 2010
This painted a scenario for somebody who would apply for a bad credit loan.
If you've got bad credit and recently have applied for a loan with Royal Bank, TD Canada Trust, Bank of Montreal, ScotiaBank, Bank of Commerce, and have been denied, then you need to take heed to that.
There are other lenders that may help you out such as HouseHold Finance, which is a HIGH RISK lender.Mortgages
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