Fraudulent Money Loans

(Gravenhurst, ON) – The Ontario Provincial Police (OPP) of Bracebridge has had a report of fraudulent internet loan companies taking advantage of a local Gravenhurst resident.

The victim applied for a $10,000 loan online from a company called Roswell Financial Group. The company requested payments in small amounts, before the victim would receive his loan. The victim cooperated with the requests and did not receive the loan or any of his money back.

Some companies claim they can guarantee you a loan even if you have bad credit or no credit. They usually request an up-front fee, which may range from hundreds to thousands of dollars. Once you send your money to these companies, you never get your promised loan and you cannot get your money back. If you cannot get a loan through traditional lending institutions, it is unlikely that you’ll get one in response to a classified ad or internet advertisement.

Always remember, if an offer sounds suspicious or seems ‘too good to be true’, it probably is. If you’re in doubt, it’s wise to ask the advice of a close friend or relative, or even your banker. Rely on people you can trust.

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