Paying Attention Can Alert You To Identity Theft Car Loan Scam
There can be something unnerving about receiving a notice in the mail that your application for a car loan was not approved. Especially if you have not applied for a car loan from any companies. With the availability of online credit applications, identity theft car loan scam opportunities are growing at a surprising rate, and not only through the online application process. There are some who send unsolicited emails to offer amazing interest rates on car loans and those in the market for a new car, can simply fill out the short, online application and they will be notified of the monthly payments they may expect.
Even those without any interest in buying a new car may fill out the application out of curiosity, and willingly send their personal information into a scam site that uses their application for anything but buying a new car. The identity theft car loan scam has been increasing in use lately as most people have become educated on many of the previous scams used to harvest personal information.
If a person calls about the recent application for a car loan, even those who have not applied for a car loan, for some reason they give up their social security number and their mother's maiden name without question. The best way to avoid the identity theft car loan scam is to only apply for a car loan in person at the dealer or bank from whom you want to do business.
Treat All Information As Need To Know Only
Part of the identity theft car loan scam involves convincing victims that that the caller needs to know certain information before they can process any applications. Especially when dealing with a company with which you have had past dealings, they should probably have your information on file. Sometimes with one of the variations of the identity theft car loan scams the caller will inform you they are tracking fraud attributed to you and unless you answer the questions properly, there is a good chance you will be arrested.
This scare tactic should be seen for the scam that it is since, if the company believed you were responsible for fraud, they would not call with a warning, the police would simply show up and effect an arrest. Scaring the victims is only one of the methods used in the identity theft car loan scam variations being used around the country.
