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Tips On Frauds & Scams

No too long ago we were “blessed” with the experience of being phone spoofed, twice.  Somehow scammers were able to hijack out one of our offices phones and call unsuspecting consumers who never heard of America’s Loan Company.  These scammers would act as if they represented our company in attempt phone spoofto get money from people.  We contacted the authorities, but, there is not much they can do.  Once someone falls for one of these scams the money will most likely never be recovered.  It seems that the best defense against these scammers is to understand their methods.

If you have fallen for one of those scams, you are not alone.  According to an Equifax blog dated March 20, 2019, ( you can read it by following this link in 2018 the Federal Trade Commission (FTC)’s most reported scams were Imposter Scams, Debt Collection Scams, & Identity Theft with an increase of 38% from the previous year.  The FTC takes complaints relating to “Fraud, Identity Theft, or other unfair or deceptive business practices”.  If you would like to file a complaint follow this link to the FTC site

So how are some of these scams performed?  What's their M.O.?How To Detect Fraud

Imposter Scams

Ever gotten a phone from a “Pam from Card Holder Services”?  They go by different names not just “Pam”.  If you do, just hang up.  “Pam” falsely claims to represent some credit card company.  That’s how Imposter Scams work.  It seems, another “classic” is someone claiming to be from the Social Security Administration stating that the Social Security number has been suspended.  The ultimate end is to get your Social Security number and/or some cash to “reactivate” the number.  To protect yourself if you get such phone calls, hang up.  If it helps you be at ease, call the company or agency directly.  Just don’t call the phone that the scammer gives you.

Debt Collection Complaints

This one topped as number once in the FTC complaints from 2015 to 2017.  In these types of scams someone tries to fool you into paying for a debt that has been paid, canceled, or is not a debt at all.  One way to spot this scam is if the “collector” insist that the “debt” be paid by a method that can’t be traced, like Dont Fall For A Scamputting money into gift cards or reloadable cards or wire transfer.  Also, if you don’t recognize the company for which the “debt” is being collected, contact the company directly and ask for proof that you owe a debt.  In addition, if you get “collector” threatening jail time for non-payment, that’s a clear sign that you are dealing with a scammer.

Identity Theft

According to the FTC’s Top Frauds of 2018 (see the report here “Tax-related identity theft was down last year (by 38%), but credit card fraud on new accounts was up 24%.”  This type of fraud occurs where some opens a credit account under your name.  Imagine the negative effect that it would have on your credit score.

I’m sure that there are other types of scams.  But hopefully being aware of these top contenders above will help some to stay clear.  If you are trying to repair your credit, you may find other Credit Repair Blogs at

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America's Loan Company - Notice

Customer Notice: Personal loans, title loans, and car loans have terms 6 months or longer. There are no early payoff penalties. We currently report to one of the 3 major credit bureaus, TransUnion. However, many factors affect your credit score. Therefore, we can't promise that your credit score will improve while having a loan with us.

Requirements: We are able to service Ohio residents only. Approval depends upon meeting legal, regulatory and underwriting requirements. America's Loan Company may, at its discretion, verify application information by using national databases, including but not limited to Teletrack and any of the national credit bureaus. America's Loan Company may take this information into consideration in the approval process. Due to state and verification requirements, not all applicants for loans may be eligible for approval by America's Loan Company. You may be required to submit additional documents due to state law and qualification criteria.

Products & Services: Products and services offered to customers may vary based on customer eligibility and applicable state and federal law. Actual loan amounts vary. The availability of loans and extensions may vary. Auto loans and secured personal loans are subject to minimum auto value requirements.

Further Personal Loan Disclosures: For qualified customers, America’s Loan Company offers bad credit personal loans with terms of 6 months to 5 years, with APR under 35.9%. As an example, you may borrow $1,500.00 over a 24 month period, with a $10.00 credit investigation fee, $100.00 loan origination fee, and $452.32 in interest, for a total payment of $2062.32, with an APR of 32.6514%, and monthly payments of $85.93.

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