Have I Been Scammed?

This is a question many of us ask ourselves lately due to the sheer number of scams that are going on.

Unfortunately, if you have asked yourself that question, if you have been scammed, it is too late.

It is estimated that at some point, 75% of us will have been the recipient of a scam in our lives. Not that we will become a victim of a scam, but that we will have been contacted by a scam artist. I use the term artist, as in some ways these scammers and fraudsters are very clever.

Gone are the days of a Nigerian Prince contacting us to transfer money into our bank accounts as he knows we are a person to be trusted.

With the Internet came a “whole new realm of mischief”.

Every day there is a new scam being devised and created.

There are scams that use social media, like Facebook, there are “phantom goods” scams, where you buy an item online only to not have it posted to you.

There are scams using PayPal, there are scams where people phone you offering to sell you things, and of course email has made reaching the scammed masses even easier. A scammer can send out thousands of emails in an instant, with the hopes just one person responds.

There are also a few very clever scams, one involving the police and who you think is your bank.

There you are siting at home, relaxing, reading the paper, when the phone rings. It is the police telling you that your details and bank card were stolen, and used in a crime, and you need to contact your bank to sort matters out.

In a panic, you put the phone down, and ring your bank.

Your bank asks you a few questions, gets your details, and states they will send a courier around to pick-up your bank card, and they will post a new bank card out to you.

Sure enough within a few hours there is a knock on the door, a courier appears, and you hand over your bank card.

You will never receive a new card in the post, and yours is now off and gone with the scammer.

How did all this occur, you phoned your bank??

The scammer who rang you stating they were the police, never broke the phone connection when you hung up and phoned your bank. They just then pretended to be your bank, and you in thinking it was your bank, gave them your details.

Another scam which is pretty clever, is you receiving a phone call from your bank, and in asking security questions, the caller asks for the 1st and 3rd number of your PIN. Then after providing those numbers, the caller states you broke up, and can you give them the 2nd and 4th number.

They then have your full PIN, and off they go to use it.

Some of these scams are fairly ingenious in how they operate.

One of the latest scams I have read about is almost something you would not believe.

You are searching for a bargain on a new laptop, so you search online, find a deal, and buy it.

The laptop arrives as promised, and it is just what you ordered, and seems to work well. However, unbeknownst to you, there is spyware installed on the computer, spyware that tracks your every keystroke and where you go, sending all that information back to a scammer.

They then can use that information and your details to make purchases, possibly take out loans, and in general make your life a mess.

Of course being the good friend you are, you tell your friends of the bargain laptop you found, and they buy one as well only to fall prey to the same scam.

That is a well planned and played scam.

As you can see, we need to be vigilant in looking out for, and protecting ourselves from fraud and scams.

There is so many different ways we can be scammed, it is easy to see why some are as paranoid as they are, and trust no one.

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<strong>What is Our Criteria For Applying?</strong> 
Every lender on our website has their own specific criteria by the basics are mentioned below and you must have a guarantor to be eligible. Simply select the lender of your choice and you will be taken directly to their website where you can apply. You will be required to submit your details including:<li style=”text-align: center;” data-mce-style=”text-align: center;”>Name (must be over 18 as the borrow, 21 or 25 as the guarantor)</li><br /><li style=”text-align: center;” data-mce-style=”text-align: center;”>Residence (your chances will improve if your guarantor is a homeowner)</li><br /><li style=”text-align: center;” data-mce-style=”text-align: center;”>Employment status (must be employed or on a pension)</li><br /><li style=”text-align: center;” data-mce-style=”text-align: center;”>Income (earning at least £600 per month and able to make repayments)</li><br /><li style=”text-align: center;” data-mce-style=”text-align: center;”>Monthly expenses (not have too many loans open or in major debt)</li>
You will then be asked to include the details of your guarantor and as mentioned above, this is usually someone who you know and trust and wants to help you with your personal finances. Ideally, a guarantor with good credit will maximise your chances of being approved based on the idea of ‘if someone with good credit trusts you, well we can too.'<strong>How Much Can I Borrow From Guarantor Loans?</strong>Guarantor Loans gives applicants the chance to borrow £500 to £15,000 depending on the lender. Some lenders we feature like Buddy Loans only have a maximum loan value of £7,500 and TFS Loans is the only lender that stretches up to £15,000.Factors that can influence the amount you can borrow revolve around having a good guarantor. One that is a homeowner, with solid employment, income and good credit rating will maximise your chances of borrowing the largest drawdown possible.The lenders featured on Guarantor Loans see a homeowner as someone who has already gone through the rigorous process of credit checking and affordability and if they can afford a house, they should be able to act as a guarantor for you.By comparison, having a guarantor that is not a homeowner offers slightly less security and means that amount you can borrow is slightly less too.Higher amounts may be available to those who already have a better than average credit rating, are homeowners themselves and a repeat customer with the lender who has already paid their loan on time. To apply directly with your lender of choice see <a href=”” data-mce-href=””>direct lenders</a>.<strong>What Does The Guarantor Have To Do?</strong>Upon completing an application, the lender will typically send you a <a href=”” data-mce-href=””>pre-contract loan agreement</a> and SECCI (Standard European Consumer Credit Information form) which will highlight the terms of your loan. You and your guarantor will be required to review the terms of the loan, including the loan drawdown, fees, repayment dates and responsibilities – and this can be signed via an online verification process using your email and mobile phone.The lender will usually carry out an individual phone call with you and your guarantor to ensure that you both understand the responsibilities and what is required of you – notably that if you cannot make repayment, your guarantor will be required to pay on your behalf. Further to some additional credit and affordability checks, funds can typically be transferred within 24 to 48 hours (or sometimes on the same day).<strong>Are Guarantor Loans Available For Bad Credit Customers?</strong>Yes, even if you have a history of adverse credit, <a href=”” data-mce-href=””>CCJs</a>, bankruptcy or IVAs several years ago, you can still be eligible. The idea is that you are using your guarantor and their financial history to ‘back you up’ and give your loan extra security. However, it is noted that your guarantor should have a good credit score and consent to co-signing your loan agreement.<strong>How Soon Can I Receive Funds?</strong>Guarantor Loans works with lenders that can facilitate funds within 24 to 48 hours of approval, or sometimes on the same day.When your funds are successfully transferred, most lenders working with Guarantor Loans will send the full amount to the guarantor’s debit account first. This is a standard security measure carried out by lenders to ensure that the funds are going to the right person and confirms the involvement of the guarantor. The guarantor usually has a ‘two week cooling off period’ where they can decide to pass on the money to the main borrower or they can change their mind and return the funds with no extra charges.