Do not respond to advertisements offering loans

Anonymous | 21 Oct 2022

Loan Scam

I fell prey to a loan scam after responding to a text message offering loans. Happened that I needed to funds for my bakery business. Contacted them and given my details, was told i can get a loan of $80000. At first I need to transfer $2000 to open a file, later they ask for admin fee of $3500. After paying just wait for approval. Waited for 5 days they finally send me an agreement that i have to make a 3 months upfront for the loan, that is another $12000. Stupidly i believed them till they ask me for the release clause $20000. When I wanted to cancel the loan and get back my money, they ask me for the cancellation fee. The worst part is without getting a single cent, they start to threaten me if did not oay the cancellation fee I will hafe to serve the loan. They even threatened will do something yo my address, in fact they really did came and chian locked my gate. They said if i report to police, they will next burn the house.

This just happened 2 weeks ago.