Home Scam/Fraud 5 ways to identify personal loan scams

5 ways to identify personal loan scams

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Learn ways to identify personal loan scams to prevent fraudulent companies from taking your hard-earned money. (iStock)

In 2020, there were 99,667 reports of identity theft for business and personal loans, according to the Federal Trade Commission. This represents a 127% increase from the previous year. If you don’t see the warning sign of a personal loan scam and you fall into a scammer’s trap, your identity can be stolen. In addition, the scammer may take some of your hard-earned money. In addition to taking your money, the scam artist could also hit you with identity theft, potentially leaving you with bad credit 

One way…

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