Did you receive spam calls from Emily at approval department of Freedom Lending Services? Does she mention a loan application and ask you to call back at 877-941-1150? Beware! It’s a scam.
Fraudsters are impersonating Freedom Lending a US based company that offers loan and mortgages. The scam calls have been reported by more than hundred people, Freedom Lending has also released a warning on their website ‘freedomlending.com’ (see image below)
Read on for more details on how the Freedom Lending Services Scam works and how to stay protected.
Freedom Lending Services Scam: How It Works
Freedom Lending Services call people with different area code numbers, informing them about a loan application, and request they call back a certain number to address an important issue with the application. It is an advanced fee fraud that aims to steal money from people interested in getting loans.
The fraudsters tries to convince people that they can get up to $70,000 approved loan at little interest rate. Those who indicate interest are told to pay a processing fee to quicken the loan application process.
Anyone who pays the processing fee would be made to pay more and more money but wouldn’t get the loan as promised. This is a classic example of Advance Fee Scam.
Spotting The Red Flags
- There’s no information online about the loan company ‘Freedom Lending Services’ neither is it registered in companies house.
- Unethical Business Practices – Freedom Lending Services calls people multiple times a day using different telephone numbers. Legitimate online loan companies will usually only contact you after you ask them about a loan and provide your email address or phone number.
- Buys telephone numbers from brokers and public directories.
How To Stop Freedom Lending Services Spam Calls
Unsolicited calls can be quite annoying, especially when they attempt to contact you multiple times a day using various numbers.
To stop them from calling you, you should block the numbers used. One of the best ways to block unwanted calls on a cell phone is to download a call-blocking app. A call-blocking app acts like a filter. The company behind the app uses call data or reports from users, the FTC, and other sources to predict which calls are illegal or likely scams. The app then intercepts those calls before they reach you.
To get a call-blocking app
- Go to the online app store for your phone’s operating system (iOS (Apple), Android, etc.) and look at ratings for different apps.
- Look online for expert reviews on call-blocking apps.
- Download and Install to your mobile devices
Once done, block the following numbers; 689-222-2549, 719-408-2237, 888-531-6256
Tips for Protecting Yourself from Loan Scams
Whether you are considering getting an emergency loan or business loan, always do due diligence before signing whatever contract. Here are some tips to avoid falling prey to loan scams;
- Check if they’re legit: Make sure the lender is authorized to operate in your area. Legit lenders follow the rules.
- Read everything: Understand the loan details, like interest rates and costs. Don’t hesitate to ask questions if things seem confusing.
- No upfront fees: Legit lenders won’t ask for money before approving your loan. Stay away if they do.
- Check online: Read reviews and search for info about the lender. Don’t skip this step to make sure they’re trustworthy.
- Listen to warnings: If people say a lender might be shady, take it seriously. Look for other choices.
Similar loan scam – True Path Lending, Pulse Lending.
maria