In danger of being evicted makes a prime target for scammers

In danger of being evicted makes a prime target for scammers

By Greg Collier

The Federal Government has extended the eviction moratorium to October 3rd. Not only does this give tenants extra time to try to improve their situation, but it also gives scammers more opportunities to find more victims. Scammers are always looking for victims who are in a desperate situation, and there’s no situation more desperate than the possibility of losing your home. To scammers, it doesn’t matter if you only have a little money to your name. They’ll try to take it anyway. And now they’re trying to take it from those trying to keep a roof over their heads.

The Better Business Bureau has issued a warning to those looking for any kind of rental assistance. Too many scammers are out there now, offering services that are too good to be true. The scams run from phony credit repair services to ‘guaranteed’ loan services. While there are legitimate credit repair services, consumers need to keep an eye out for repair services that make promises they can’t keep, like removing a bankruptcy from your credit report. And no loan is ever guaranteed. Those who are offering such loans will probably ask for an upfront or advance fee and not provide any service.

There are also government grant scams to look out for. While there are government grants that provide financial assistance to some tenants, the government will never reach out to you. And again, the grant scammers will ask for an advance payment disguised as processing fees. Real grants require no such fee.

However, the BBB has been warning about one particular scam lately. In it, the scammers call you to tell you that your loan is approved. They’re hoping that you’ve applied for at least one loan to help improve your situation. The scammers will then say that before they can release the loan money, you need to increase your credit score. All you need to do is wait for $1000 to show up in your bank account then once you send the $1000 back, your credit score will be improved enough to get the loan. The money deposited into your account is fraudulent and if you send it to the scammers before your bank catches the fraudulent transaction, you’re not only responsible for the $1000 but any overdraft fees as well.