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Advance fee loans can prove costly Print E-mail
You might see an ad promising guaranteed loans for people with poor credit ratings. These little-known "lending" companies might request an upfront fee before they'll proceed with the loan.

Fees may range from hundreds to thousands of dollars and once you pay, it's doubtful you'll get the promised loan – and you definitely won't get your money back.

Advice: Only borrow from reputable financial institutions and never pay an upfront fee for a loan.
 

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