First Investors Financial Services, Inc. is reminding consumers to be aware of advance fee loan scams. In these scams, the consumer is often told that the loan is “guaranteed” or “no credit check” is required but an advance fee is required. Many of the individuals and companies operating this scam do business over the internet or telephone. Sometimes the individual or company may claim to be calling from or on behalf of a legitimate company and may even disguise their caller identification or e-mail to appear to be from the legitimate company. Unfortunately, it appears that some callers may be using our name.
We want to assure you that these calls are not being made by us or anyone affiliated with us. First Investors Financial Services, Inc. does not guarantee loan approval and will never ask for or require an up-front fee. Any fees charged by us will be disclosed to you and only paid at the time of funding after the loan application is approved. If someone contacts you claiming to be from First Investors Financial Services, Inc. or calling on behalf of First Investors Financial Services, Inc. and requests an upfront fee, please call us or notify us via e-mail at email@example.com
Remember, you should never pay for the promise of a loan. While legitimate lenders may charge you a loan fee, the loan fee is generally included in the amount borrowed. Legitimate loan or credit offers do not require an up-front payment and do not guarantee loan approval. For more information, please click on the following link: https://www.consumer.ftc.gov/articles/0078-advance-fee-loans.
Also, please be aware of loan modification companies who claim that they can modify your account with us. First Investors does not maintain relationships with loan modification companies. These companies often falsely promise financially distressed consumers that that they are able to reduce their loan payments or interest rate. These companies also often charge up-front fees for their services.
If you are experiencing financial difficulties, please contact First Investors directly to discuss your specific situation to see what options may exist. Never pay a loan modification company for the purpose of modifying your account with First Investors and never believe them if they tell you that they have a relationship with us or guarantee results.
For more information, please click on the following link: https://www.consumer.ftc.gov/articles/0255-auto-loan-modification-scams