Urgent Scam Alert: BBB Warns CT Residents of Loan Phishing Calls

UPDATE: The Better Business Bureau (BBB) has issued an urgent warning to consumers in Connecticut about a rising scam involving fraudulent loan offers made by a caller impersonating a reputable financial institution. This alert comes as nearly two dozen complaints have surfaced in just one week.

According to the BBB, residents report receiving harassing calls from a woman named Erica Hayes representing a company called J Morgan. The calls typically involve claims of pre-approved loans for amounts as high as $60,000, aimed at convincing unsuspecting individuals to share personal information or pay upfront fees.

The BBB’s statement reveals that the scam has affected communities across Connecticut, including Bristol, Middlebury, New Haven, Granby, and Norwich. Victims describe receiving messages that sound alarmingly credible, urging them to act quickly before the end of the year to secure their funds.

In one alarming voicemail, the caller states: “I’m trying to get hold of you before end of the year. Your file shows nearly approved for $60,000. If you’re still looking for a loan, please call 833-588-3812.” This tactic is designed to create a false sense of urgency and prompt immediate responses from potential victims.

The BBB emphasizes that any company guaranteeing loans without first reviewing your credit history is likely a scam. These scammers often request upfront fees, claiming to lock in a loan offer. Once the payment is made, victims find themselves with no loan and no way to recover their lost money.

To combat this malicious scheme, the BBB provides the following critical advice for consumers:

1. **Be wary of upfront fees:** Legitimate lenders will never charge fees before disbursing a loan. Be cautious of any vague or unclear fees requested prior to receiving your funds.

2. **Avoid guarantees and unusual payment methods:** Authentic lenders will assess your credit and financial history before discussing loan terms. Any assurance of guaranteed loans or requests for unusual payment methods should raise red flags.

3. **Conduct thorough research:** Scammers often pose as representatives of known institutions. Always verify the legitimacy of any loan offers by contacting the agency directly.

Residents are urged to report any suspicious calls or scams to the BBB Scam Tracker. This helps to protect others from falling victim to similar fraudulent schemes.

As Connecticut consumers navigate these troubling calls, it’s crucial to stay vigilant and informed. The BBB continues to monitor the situation and will provide updates as they become available. Stay safe and be cautious of offers that sound too good to be true.