Have You Taken Out A Loan? Beware Those Who Ask For Repayment
As soon as you have approved your loan request and can see the money in your account, you will start to think of one thing. That would be the repayment that will eventually have to happen. It doesn’t matter how big or small the loan is, you will have to pay it back with interest. Now, sometimes there will be one or two payments that we miss making. And it has become even more prevalent in today’s world that has been affected by the COVID pandemic. What you might not know is that there are people who have already decided to target you. They will look to take advantage of the loan that you have taken and talk about the repayment. You might get an email saying that you are going to be charged a fee for missing a payment. If someone were to see this and believe that this is real, then they have fallen victim to loan repayment fraud.
Fear
The reason these scams tend to work is that they prey on the fears of people. As we mentioned earlier, this is one of the tactics they use to get to you. People are afraid that they can get in trouble, so they go along with what these people say. What basically happens here is that you will be asked to make a payment. This will not go to the actual lender but those pretending to work on their behalf. You can get confused because they can look and sound so similar to the real lender. This is how they get you to believe them. You pay the fraudsters thinking that you have reduced your loan amount. It is only later on that you come to know that this did not happen.
What To Do?
You have ways to get in touch with those who have lent you money. When you get a mail like this, the first thing that you need to do is contact them. Informing them about what has happened will tell you what the truth is. And if nothing else, you would have signed a document that has details about the loan you have taken. That will tell you all that you need to know about repayment and so on.
You can’t stop these people from trying to target you but if you know what they are trying to do, you can escape from their clutches.