Consumer credit, personal loan, and credit consolidation in Belgium: beware of scams and learn how to differentiate between good and bad lenders! The Financial Services and Markets Authority (FSMA) has issued a warning against the rise of fake initiatives. Whether by email or via social networks emanating from fraudulent lending organizations.
Often, such an initiative will do everything to avoid arousing the recipient’s suspicions. It will take the form of an email or a courteous message on social networks offering a personal loan or credit consolidation.
Then, a person, who will present themselves politely, will offer to lend you amounts, sometimes very large, to carry out your projects. Such as real estate purchase, vehicle purchase, consumer credit. And also to obtain the necessary funds to develop your business.
You might have already received this type of email or call in your inbox or on social media.
FSMA: Recommendations and Tips Against Bad Lenders
In its role as a protection body for investors in their lending operations, the FSMA encourages individuals and businesses approached to ignore messages from organizations. As well as lenders that have not been authorized or have gone through any registration procedure as prescribed by law.
Moreover, in its warning, the FSMA also provides several recommendations to avoid getting caught in fraudulent personal loan or credit consolidation schemes. Notably, individuals sending these schemes usually utilize personal email addresses such as @hotmail.com, @gmail.com, @outlook.com instead of using professional addresses that are employed by professional lending organizations.
Another indicator of a scam or bad lenders is examining the loan conditions proposed. The more advantageous they are, the higher the chances it is an attempted fraud. Furthermore, these solicitations will often ask you to pay a sum of money. And this before even obtaining your credit, something professional lenders will never do.
Finally, for any consumer credit in Belgium, consider verifying if the so-called lender is accredited on the FSMA website.
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