Stay Alert – Beware of Unexpected Calls About Loans

The FTC recently issued a warning to ignore unexpected calls about loans you didn't apply for. For example, you might get a voicemail from an unknown caller reminding you about a $52,000 loan. This can throw you off balance, which explains why scammers send them. They're hoping you'll respond first and think later.

Some of these scams start with an unexpected call saying you're "prequalified" for a loan. (You're not.) The caller wants you to give them personal information over the phone — like your Social Security or bank account numbers or your birth date. They might say the application is almost finished and just needs a few more details from you. In a voicemail, the caller might offer to take you off the call list, but only if you call them back.

Scammers often make these seemingly urgent calls multiple times a day from different numbers to try and wear you down. But don't respond, not even to "opt out."

If you're getting calls like these:

• Never call back. If you do, it could lead to more scam calls.
• Don't trust caller ID. Scammers use fake or spoofed names and numbers to make calls look local, or like real companies or government agencies.
• Block the number. Check your phone's settings, online app store, and your phone provider's website to find out what call-blocking or call-labeling services are available to stop unwanted scam calls before they reach you. If any calls get through, they'll show up as "spam" or "scam likely" on your phone screen.

Report unwanted calls to the FTC at ReportFraud.ftc.gov. Be sure to include the number on your caller ID and any number you're told to call back.