Login To Your Account

1-800-982-8445

Financial Freedom Community

This site is a resource for Financial Education, Debt Solutions and Tools to assist with Credit Management. All the resources on this site are free of charge. We encourage visitor feedback, Tell us what you want to see more of! Sign up for news & updates and we'll keep you posted on the latest!


Navigation

Home
Bankruptcy
Community Resources
Consumer Protection
Employment Resources
Financial Assistance
Health and Human Services
National Resources
Seniors Resource Center
Tax Resources
Getting Ready to FIle Your Federal Tax Return
Transcript - Getting Ready to FIle Your Federal Tax Return
Info Graphic - Getting Ready to FIle Your Federal Tax Return
The Importance of filing your Tax Return or Tax Extension on Time
Transcript - The Importance of filing your Tax Return or Tax Extension on Time
Info Graph - The Importance of filing your Tax Return or Tax Extension on Time
Most Common Tax Filing Errors
Transcript - Most Common Tax Filing Errors
Info Graphic - Most Common Tax Filing Errors
Owing Money To The IRS
Transcript - Owing Money To The IRS
Info Graphic - Owing Money To The IRS
What to do with your tax refund
Transcript - What to do with your tax refund
Info Graphic - What to do with your tax refund
Consumer Personal Loans
Credit Card Debt
Advantages of Making Credit Card Debt Payments on Time and Other Tips
Avoiding Credit Card Traps
Credit Card Counseling - Learn Credit Management Tips
Credit Card Debt and Simple Ways to Consolidate Them
Credit Card Debt Consolidation Nationwide Epidemic
Credit Card Debt Consolidation Solutions
Credit Card Debt Help for Senior Citizens
Credit Card Debt Reduction
Credit Card Debt Solutions That Can Help
How to Pay Your Way Out of Credit Card Debt
Paying Off Your Holiday Credit Card Debt
Prevent Identity Theft With a Credit Freeze
Saving Money on Your Credit Card Bills
Terminate Credit Card Debt Without Consolidation
Tips on Credit Cards, Part 1
Credit Collection Laws
Credit Repair Organizations Act
Fair And Accurate Credit Transaction Act
Fair Credit Billing
Fair Debt Collection Practices – Know Your Law
Statute of Limitations
The Fair Credit Reporting Act
The Fair Debt Collections Practices Act
The Truth In Lending Act
Credit Counseling
Can Consumer Credit Counseling Help Avoid Foreclosure
Credit Card Counseling
Credit Counseling a Must for Bankruptcy
Credit Counseling Benefits
Credit Counseling Can Reduce Your Debt
Difference Between Credit Counseling and Debt Settlement
Free Credit Counseling to Help Manage Your Debt
Using Credit and Debt Counseling to Manage Your Finances
What Can Credit Counseling Offer You?
What is Credit Counseling
What to Ask a Credit Counselor?
Credit Education
Balance Transfers -- Are they really free?
Transcript - Balance Transfers – Are they really free?
Info Graphic - Balance Transfers -- Are they really free?
Consumer's Rights
Establishing New Credit
Finance Charges
What Are Secured Credit Cards
Transcript - What Are Secured Credit Cards
Info Graphic - What Are Secured Credit Cards
Credit Reports and Scores
Credit Repair After Bankruptcy
Do you Know the Benefits of Checking your Credit Report?
2016 Understanding Consumer Credit Guide
DCC Educational PDFs
Debt Consolidation
4 Valuable Tips on Debt Consolidation
Become Debt Free With Financial Advice
Benefits of Debt Consolidation
Bill Consolidation Loans
Bill Consolidation Advice to Help With Debt
Credit Consolidation: Is It Worth Taking?
Debt consolidation and Ways to Avoid Scams
Debt Consolidation Explained - What Happens if You Don't Pay?
Debt Consolidation Loans
Debt Consolidation Loans for Payday Loan Debt
Debt Consolidation Non-Profit
Debt Consolidation Now Will Improve Your Credit Score Later
Debt Consolidation Provides Relief from Financial Stress
Debt Consolidation Services Helps to Clear Debts
Debt Consolidation – Find Relief To Your Financial Stress
Debt Management Program
Debt Management Program Will Ease Debt Burden
Do You Need Debt Consolidation?
Get a Debt Consolidation Loan to Manage Bad Debts
Government Debt Consolidation Loans
Government Debt Consolidation Loans for Student Loans
How to Consolidate - Debt Help - Consolidate Your Debt Payments
How to Consolidate Bills Effectively When Left in Debt
How to Consolidate Debt
Let the government help you consolidate your debts
The Advantages of Credit Consolidation
Understanding Debt Consolidation Loans
Debt Girls
About The Girls
Debt Settlement
Debt Settlement Scams
Info Graphic - Debt Settlment Scams
Transcript - Debt Settlement Scams
Elderly Can Benefit from Debt Settlement
Financial Tools & Calculators
Bill Reminder Tool
Bill Reminder User Guide
Calculators
Car Loan Calculator
College Savings Calculator
Credit Card Payoff Calculator
Mortgage Loan Payment Calculator
Retirement Calculator
Savings Calculator
Loan Modification Guide - Do It Yourself
Frequently Asked Questions
Step 1: Prepare yourself
Step 2 Gather the necessary documents
Step 3 Know what to expect
Step 4 Contact your lender
Step 5 Review your loan-modification plan
Step 6 Finalize the approval and begin making payments
Phone Apps
Home Buying
Build or Buy a Home
Choosing a Real Estate Agent
Home Equity Interest Rate Charges
Home Equity Line of Credit
Home Equity Loan Fees
Lease Buy Backs
Transcripts - Lease Buy Backs
Info Graphic - Lease Buy Backs
Managing Your Mortgage
Mortgage Basics
Mortgage Debt Elimination, 3 Things You Must Know
Quick Guide to Loan Modification
Transcript - Quick Guide to Loan Modification
Info Graphic - Quick Guide to Loan Modification
Real Estate Laws
Refinancing
Renting vs Owning
Interesting Money Articles
12 Amazing Facts about Credit Card Debt
12 More Interesting Facts About Money – Part 2
24 Amazing Pictures of Money
Introduction To Budgeting
7 Steps to Successful Budgeting
All You Need to Know About Budget Basics
Basics of Personal Budgeting
Budgeting - How Much?
Debt Management and Prevention Using a Budget
How to Pay Off Debt – Start Budgeting
Maintaining and Budget Planning
Manage Your Debt by Learning How to Budget
The Basics of Budgeting
Transcript - The Basics Of Budgeting
Info Graphic - The Basics of Budgeting
The Importance of a Household Budget
Managing Debt
1 in 10 Having Wages Garnished
Advanced Fees For Unsecured Loans
Info Graphic - Advanced Fees For Unsecured Loans
Transcript - Advanced Fees For Unsecured Loans
Debt Relief The Issue of Forgiveness
Get Out of Debt by Changing Your Financial Habits
Personal Finance Management to Reduce Debt
Start Early Teaching Kids Money Management and Savings
Saving Money
Banking & Credit
Energy Saving Tips
Info Graphic - Energy Saving Tips
Transcripts - Energy Saving Tips
Enjoy the Holidays Without Breaking the Bank
Info Graphic - Enjoy the Holidays Without Breaking the Bank
Transcript - Enjoy the Holidays Without Breaking the Bank
How 'Charge Offs' Effect You
Insurance & Housing
Money Management Means Setting Goals
PREPARING YOUR BUDGET FOR A WORSE CASE SCENARIO
Save Money When going to work
Spendaholic
Transportation Savings
Utilities and Savings
What Debt Should You Pay First?
Young Couple Finances
Student Loan Debt
Student Loan Default Penalties
Consolidate Student Loans
Student Aid
Student Loan Tips for Recent Graduates
Student Loans and the Credit Squeeze
Types Of Debts
Auto Loan Prepayment Penalties
Balance Transfers
Credit Card Minimum Payments
Gambling Debt Problem Gambling and Bankruptcy Connection
Holiday Credit Card Debt
Ideas To Save
Inherited Debts?
Six Easily Avoidable Causes of Debt
Ways to Pay Off Holiday Debts
Video Library
Personal Finance Video library
Tax Tips Video library

Free Consultation




McAfee SECURE sites help keep you safe from identity theft, credit card fraud, spyware, spam, viruses and online scams

Latest Headlines

Latest Infographics

Most Popular Articles

Transcript – Advanced Fees For Unsecured Loans

Article | Transcript | Info Graphic

Scott:               Thank you for joining us today.  We’re starting a new series called “Financial Scams.”   While the list is probably endless really, we’re going to touch on some of the more common scams that consumers are getting their pockets picked almost on a daily basis.

Speaker 2:       Picket pocketer’s.

Scott:               Pick pocketer’s.  So the first one we’re going to talk about today in our series, we’re going to talk about advance fees for unsecured loans.

Speaker 2:       Pickle poppers.

Scott:               I don’t even know what that is, don’t even know what that is.

Speaker 2:       Pickle poppers, pickle poppers, pickle poppers. OK so then what happens?

Scott:               Well, I haven’t told you what happens yet.  First got to set the stage.

Often times when people are at their most vulnerable, when their in their most desperate situations, if they’ve run out of cash and they’ve used all their traditional methods of trying to get hold of some cash, they will basically try and do anything.  One of the first things that usually goes is common sense that we typically would see why you wouldn’t think of potential.

As I was saying, people in desperate situations will sometimes trying anything to get the cash that they need.  And these messages will come from all kinds of different places, they can come in the form of an e-mail, they can come from a sign on the street, possibly even a telephone call that was marketed, ads in the paper, a friend of  a friend, offering some form of easy qualifying, no credit check, fast application, money fast, things like that.  What they essentially do is they will tell you you can have your money very quickly and they will charge some form of small processing fee or application fee anywhere from ten dollars to hundreds of dollars.  The sad part of it is that if you’re looking for a big lump sum of cash, let’s say you were looking for five or ten thousand dollars, you’d be happy to pay a hundred dollars to get that big lump sum of cash of five to ten thousand dollars.  Hey, it’s just another hundred dollars, right?

Speaker 2:       But you always pay prostitutes at the end, not the beginning.

Scott:               I will take your word for that.

Speaker 2:       Everyone knows that.  The fastest way of getting money is just stealing it.  I guess that’s what you’re getting at, right?

Scott:               That’s right except we’re trying to identify who the crooks are.

Speaker 2:       Oh they’re bad?

Scott:               This is for the good guys.

Speaker 2:       Oh, I’m in the wrong?

Scott:               You’re in the wrong class.  This is for the people that realize that when they’re desperate they kind of put the brakes on for a second.

Speaker 2:       Yeah, OK,  so let’s help those guys out, we’re heroes.

Scott:               Let’s help those guys.  What they typically will do, is say OK, you can get, some of the tell-tell signs are easy credit, no credit check, fast application, money in your account in 24 hours, things like that.  So people, if they’ve tried everything, will do whatever they can to try to get the money they need. These scammers, the crooks will charge them anywhere from ten dollars to fifty dollars, to hundreds of dollars and some people will just fall prey to it right away.  So if you’re looking to borrow five or ten thousand say, oh it’s a hundred dollar application fee but I’m going to have five or ten thousand dollars in my checking account by the end of the day.

Speaker 2:       Well, that’s just foolish, I mean the only sign I believe is two for one.  If I can get two of these for the price of one, right now, we’re good to go. Because I own it now.

Scott:               You do.

Speaker 2:       That’s make believe, oh give me fifty dollars I’ll give you this.  No, please.  So what do you do to stop this, what happens?

Scott:               First off, even though you may be in a dire situation, just step back for a second.  You just realize that no one in their right mind is going to give five or ten thousand dollars, even a thousand dollars really, of someone they don’t even know, just on a whim. They’re going to want to know who they are.

Speaker 2:       They’re going to want to run their credit.

Scott:               They’re going to want to run their credit, or they’re going to be able to verify who they are, there is going to be something, or they’re going to want some form of collateral. But at the end of the day what these guys, the only thing they’re interested in is whatever money you have left in your pocket.  Because they’re going to want to put it in their pocket and they’re going to disappear.

Speaker 2:       Yeah, I mean [beep 04:15] the police, right?

Scott:               Everybody. So at the end of the day, you’re already in a bad situation.  Now you’re fifty, a hundred, two hundred dollars less than where you were ten minutes before and that didn’t help you a bit.

So anyway, that’s what you want to look out for.  If you’re not sure of someone that you’re dealing with, most lending institutions have either a state or a federal license or registration that they must have, so check them out.  Make sure they’re licensed, and they’re in good standing, and they have the ability to lend money.  Or even check families, friends, family members, co-workers of some good sources they have done business with before you just open your wallet to some sign or some e-mail that you received.

Speaker 2:       Yeah, and keep your legs closed. That’s a wrap.

Scott:               That is a wrap.  So, for DCCF financial community I’m Scott [Tinnell 05:06]

McAfee SECURE sites help keep you safe from identity theft, credit card fraud, spyware, spam, viruses and online scams