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International Loan needs clarifying and proving legal.
Category: Scams
Tags: scam, wire transfer, western union, fraud
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1/4/2011 7:38 PM (PST)

I received this email and thinking of borrowing. Is borrowing money via international legal and ok? Here is the email: In acknowledgment to the loan application, this e-mail is to Below are the loan Repayment Schedule and conditions: which was calculated in 5years 60months. LOAN TERMS AND REPAYMENT SCHEDULE: So find the interest rate and repayment schedule below: 1. Principal Loan Amount: $50,000 2. Interest Rate: 5% 3. Loan duration/period: (60months) 4. Monthly Installments: $943.56 5. Interest to be paid: $6,613.70 6. Total loan amount and interest $56,613.70 We will like to inform you that in line with the rules governing this organization, you will be required to make a monthly payment of $943.56 making a total payment of $56,613.70 for (60months). This is the total loan amount and interest. LOAN AGREEMENT/CONDITIONS: The $287 to open the domiciliary account will be added to the loan fund and you alone will have full access to the account, then you can transfer the money to your designated bank account. We open the account for you with the $287. So your loan will be transferred to you via online bank to bank transfer which is more faster and secure. so go now and make the payment of $287 via western union or Money Gram with the information below Receiver Name Ishima Sunday Country Nigeria Any suggestions? Thank you

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1/11/2011 11:01 AM (PST)

Alex,

Please, please, please tell us you haven't signed up or sent any money for a loan offer from Nigeria! Unless you live there and know what you're doing, you'd be throwing your money away - and that goes for pretty much anyone asking or offering you something that requires money from outside of the US, especially via EMAIL!

Hit the delete button and don't touch anything even closely resembling an email like this with a ten-foot mouse cord!

If you need a loan the best place to start is with your bank and go from there. You can also search the BBB Accredited Business database for reliable lenders:

http://www.la.bbb.org/BBB-Accredited/Find/Loan-Companies-4382

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1/11/2011 11:10 AM (PST)

Alex,

I should revise my statement, before you delete the email, report it to the FBI Internet Fraud Reporting Center at http://www.ic3.gov

Thanks!

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