Don’t Fall Victim to Credit Scams.
Posted on July 1, 2010
Filed Under Consumer Protection
How many of you have received offers in the mail urging you to refinance? Make sure you read those letters thoroughly. A lot of times, they are scams and will not help you improve your credit score or successfully refinance your auto loan. While everyone loves Boston Nissan Deals, you need to research those amazing offers before signing your name on the dotted line. A bottom line rule: unless that refinance offer comes from Louisville Toyota directly or Volkswagen Peoria or the dealership where you purchased your vehicle, you should be cautious.
Think back to what your parents have been telling your for ages: if it sounds too good to be true then it probably is. Those ads offering amazing low rates no matter what your credit score or financial situation are meant to be appealing, especially to financially tight patrons. When it comes to money talk, people are incredibly vulnerable and may throw their typically good judgment to the wayside. Remember that if you respond to one of these ads, you are sending them incredibly private information that could allow them access to your finances.
How can you decide if a company is legitimate? You can visit register.com and look up the website address to see if the domain owner matches the rest of your documentation. It is incredibly easy for scammers to set up a fake company front to trick people into thinking they are legitimate. You can always do a google.com search for the company and add the word “scam” or “complaint” in your search query to see if others have the same concerns you do. Also, try checking with the Better Business Bureau to see if complaints have been issued against the company.
Before we lost all faith in humanity, some offers you receive offering a lower APR for your auto loan might actually be legitimate. Saving yourself money in the long run is always worth a bit of extra time on your part. Just take your time to make sure you are working with a trusted, real company.
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