Can a Car Equity Loan Langley British Columbia Company Ask for Money Upfront?

When you’re in a financial tight spot and need a large amount of cash fast, the promise of a loan is a godsend. But with so many scammers plying their trade, you have to make sure that the company offering you a car equity Langley British Columbia loan is legitimate and not some crook who’s trying to steal your money. One red flag is when you’re being asked for advanced payment.

Can a Lending Company Ask for Money Upfront?

No, it cannot. If you get approved for a loan and then receive calls or emails from the lender requesting for certain fees to be paid, you are getting scammed. It’s the modus operandi of most fraudulent lending companies to ask for up-front payment for “processing” or “insurance.” They will probably ask that you send the payment via Western Union or other online payment centers. Once you’ve paid, you will never get that money back.

It is also illegal for companies to confirm easy bad credit loan approval or promise that you’ll get a loan over the telephone. These confirmations are done via papers to ensure there’s proof of transaction.

Licensed lenders will charge you for appraisals, application, or credit reports. But they will never demand that you pay in advance of the loan.

Lowest Interest Rates You Can Find

Canadian Equity Loans provides secure and fair services to all borrowers. One of the best lenders in the country, the company lets customers borrow as much as $50,000 without having to worry about any credit checks. You don’t have to stress over your credit history or score. Log on to their website to apply for a loan from the security of your own home. You can also call their toll-free number at 1-844-586-6311.

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