To help you protect yourself from scams, some helpful tips are listed below:
- Legitimate lenders display their license. When applying for a loan, request the location of their license on their website or ask for a copy.
- Be suspicious of emails or phone calls requesting personal or financial information. Legitimate businesses will not solicit this type of information.
- Protect your social security number and banking information and never share this with an unverified person or source.
- If you receive a call or message from a questionable source asking for immediate action regarding your finances, don’t respond. Instead, call the lender or bank at a phone number found on a statement, on the back of a credit or debit card, or some other verifiable source.
- If you are approached about paying a debt, ask for written verification (this is required by law).
- If you believe you are being targeted by a scammer, report it to the proper authorities. If you believe the name of a legitimate lender is being used under false pretenses, report this activity to the lender.
- Maintain accurate, up to date financial records so that you will be aware of your outstanding debts as well as payments you have made. Also be on the lookout for unauthorized transactions by keeping track of your bank statements and credit card statements.
- Every few months, check your credit score through a company like Experian, Equifax, or TransUnion.
- Make sure that the security on your computer, laptop, smart phone, or tablet is up to date.
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