I got a personal loan threw tfls. they asked me for 500.00 up front for a security deposit. what should i do

Question

now i cant get ahold of anybody in there office. what am i spose to do

Answer 1

Those are scams.  Never pay an advance fee for a loan.

Answer 2

Don't do it... Legitimate companies do not EVER ask for a fee upfront. It's a scam!!!!!

Answer 3

If you've already given them the money, file a complaint with the BBB.  Also, depending on how you paid, you may be insured.  If you paid by check, contact your bank to see what they can do.  If you paid by credit card, I would dispute the charge.

If you haven't given them the money yet, don't.  Asking for money up front is illegal loan practice.

Answer 4

This is a scam.

Advance fee fraud scheme 4-1-9.

Never send money to anyone in order to get a loan or get more money in return.

They will walk away with your "security deposit" and you just lose $500.00 and watch out that they will have your checking info if you write them a check.

Answer 5

IT'S A SCAM!!!  No reputable business would ask for such a deposit.  DO NOT DO IT!

Answer 6

Legit businesses will never ask for a fee up front in order to give you a loan, other than a down payment on a material product, such as a car.

Businesses that legitimately want to loan money realize that you would not be looking for a loan if you had money.

Stay away from that scam!

Answer 7

Well you shouldn't have to pay to get a loan. Upfront I mean since all loans cost more than the original loan. Not being able to contact anyone should also send a red flag.

I don't know what tfls stands for or how much your loan is for or what the interest rate is, but it should also be a red flag if the interest rate is really high and the amount you are getting isn't that much.