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Quick 247 Loans One Of Many Loan Scams

By Steve Smith

Republish: EasyPublish™ Published: 22May2009 Word count: 412 Viewed: 99 time(s) Get Free Content For Your Site

Anybody applying for a personal loan should think long and hard before agreeing to pay any upfront fees.

According to the Citizens Advice Bureau more and more people are being scammed out of money by dishonest loan companies that demand an upfront fee for loans which seldom materialise once the money has been paid to the conmen.

This has become more prevalent since the credit crunch has caused loans to become less available, and quite often these unscrupulous loan companies will target the people who can least afford to lose any money i.e. people on low incomes or with a poor credit rating who would struggle to find a loan elsewhere.

The latest of these is a company trading from the website quick247loan.co.uk. They are demanding that the applicant makes the first month's payment upfront by paying money into their bank account before they can release the funds.

To compound the issue, in order to add credibility to their company, they are displaying the credentials of a reputable and respected online loans broker on their website and also on their loan agreement form.

This company is obviously trading without a valid Consumer Credit Licence or Data Protection; otherwise it would not be publishing the details of Interfinancial Limited, one of the internet's most respected loans brokers.

Unfortunately the victims of any such scam find it almost impossible to get their money back once they have sent off their money to the scammers.

Stuart Pike of Interfinancial Limited said "These people are the lowest form of criminal, preying on the people that mainly cannot afford to be conned out of their money. I would strongly urge that loan applicants do not agree to pay any upfront fees to loan companies in order to process their loan application."

He also said "Changes need to be made to legislation bringing in tougher penalties for these people, it appears that more and more of them are giving their companies names that sound like well know or respected brokers in order to add credibility."

He went on to add "I cannot believe how disinterested the various governing bodies seem to be when anybody tries to report such a scam, and unfortunately until the likes of the Office of Fair Trading, Trading Standards or even the Police start to act this situation is not going to get any better."

Apply for a safe loan with a reputable and honest broker online today!

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