Thank you for reading our Brandon's Blog. Check out our AI insolvency bot on this page and don't forget to subscribe!
Haven’t you already written on the loan scams Canada topic?
Yes, we have previously advised you of various loan scams Canada in our previous blogs and vlogs:
- CREDIT REPAIR TORONTO: HOW TO USE IT TO NOT RUIN YOUR LIFE
- ARE YOU UP ON THE LATEST PHISHING SCAMS? YOU SHOULD BE!
- #VIDEO: CRA PHONE SCAM: IF YOU WATCH ONLY 1 VIDEO WATCH THIS ONE! #
- CANADA REVENUE AGENCY SCAMS: IF YOU READ ONE ARTICLE, READ THIS ONE
- DISASTER RELIEF SCAMS BY THE NUMBERS
- VAUGHAN DEBT COUNSELLING ADVISES BEWARE OF TAX SEASON SCAMS
- SENIOR FINANCIAL ABUSE; SENIOR CITIZEN MONEY SCAMS
- BEWARE OF PHISHING AND SPEAR PHISHING SCAMS
“Will these loan scams Canada continue?
For sure loan scams will continue. One main reason is that Canadians on a per capita basis are in debt at the highest level in all of Canadian history, and one of the highest in the entire world! This is a very lucrative and enticing market for the scammers to perpetrate loan scams Canada!
How can I protect myself against loan scams Canada?
There are three general themes in common with all of the loan scams. If you don’t fall for them, that is the best protection. Here is our list of the three common loan scam Canada themes and how to protect yourself:
- Never give money or your credit card information over the telephone or in person to someone you don’t know – even if they sound like they’re from an established organization. Request additional information to be sent to you, review it with friends or family, or simply hang up if the whole thing sounds fishy!
- It’s important to know that no bank, store or Canada Revenue Agency will ever ask you for your password via email or telephone, so never respond to these requests. If you receive an email that has a sense of urgency requesting personal information, first contact the purported sender to see if the email is legitimate.
- Reputable lenders for personal loans will never ask you to pay an up-front insurance or application fee. Also, reputable lenders will never give you a guarantee that you will receive the loan approval before you provide your information. If the person you are dealing with asks for the up-front fee, or guarantees that no one is ever declined, stop dealing with them.
What to do if you have too much debt and not enough cash
Rather than resorting to high interest rate payday loans or to lenders who charge up-front fees in return for all sorts of promises, talk to a licensed insolvency trustee. Contact us now to obtain a solution, before bankruptcy is your only alternative.
We help individuals and companies throughout the Greater Toronto Area (GTA) facing financial crisis to avoid bankruptcy or bankruptcy, if the problems have been left too long without any corrections that need a plan for Starting Over, Starting Now. The Ira Smith Team brings a cumulative 50+ years of experience dealing with diverse issues and complex files, and we deliver the highest quality of professional service. Don’t worry about debt; instead take immediate action.
