| By
Gary Scott
Here is a reader who had been
duped in one of the numerous lending scam deals.
Lending Scam Deal Letter
Here is the letter I received.
Read on because knowing about this could save you some big bucks!
"Dear Gary,
I may be receiving a substantial
loan from Germany, through a contact, through a friend who is handling arrangements.
Low interest rates, long-term, flexible pay back. It has been on and off and held
up for almost a year due to various conditions. The US government will be taking
1/3 right off the top before it get's here, with some sort of papers to be filed
to get it returned to the recipient. According to the company representative,
the paperwork is complete and notices via courier should be arriving in the next
few weeks. Since this has been held up so much, I haven't talked about it much
with anyone. I thought you should know."
Lending Scam Deals Reply
There is some important information
in my reply about these
lending scam deals that you should note. Here is the reply.
"Gosh I feel like a cad
writing back to all your messages saying 'be careful'. What you have written does
not make sense to me. One of the scams I come across again and again are lending
scam deals where people offering loans with some special and unusual term. They
often call them self liquidating loans. There are always endless delays (often
the lender's son is hurt at the last moment). At some stage money will be requested
as a fee, bribe or something.
"Lending Scam Deal Questions
"Questions I ask are Lending
Scam Deals Question #1: Why Germany lending to the U.S.? Usually the further away
a borrower the less likely the repayment.
"Lending Scam Deals #2: Why the
delay. Most loans have a system and are quick to accept or reject if you provide
the information. Usually in a scam some fee or some cousin of some official etc.
has to be paid to get the thing done.
"Finally Lending Scam Deals Question
##: 33% off the top? That is crazy. How can a person hope to repay a loan if so
much is taken out up front. This seems unrealistic and does not fit the norm.
"I am always suspicious and ask
you to beware. Don't pay anyone if you already have not. If you have paid something,
don't pay more. If you can get full details, I'll be able to give you a more accurate
view."
There are four types of scams
I see most often. This is the first, an offer of a loan or some type of finance.
You can learn about the other three at this site.
Good business and investing!
Gary
My novel the 65th Octave looks at scam protection issues. The hero is a scam catching
expert who works for big banks. The book outlines why scams work and why suckers
always lose. I recommend you read the book. It has some in depth economic information
but is also a fast paced, fun read.
Order the 65th Octave
at
GaryScott.com
Sometimes one picture is worth
a thousand words
To avoid scams balance yourself in nature
like this cabin at Gary and Merri Scott's Merrily Farm where you
are welcome to visit and stay at Little
Horse Creek. |
