A lender guarantees approval if I send a fee first. Is that a scam?
Reviewed answer
Guaranteed credit in exchange for an advance fee is a major scam warning.
- Stop if the lender guarantees approval before reviewing your finances and requires money to release the loan.
- In the US, check the lender with your state's financial regulator using independently found contact details.
- If you disclosed bank information or sent funds, contact your bank immediately and save the offer and messages.
Get help if
More insurance, tax, or verification fees appear, or the lender asks for your online banking password.