Any false, deceptive, misleading or fraudulent solicitation involving the advertisement of a loan. Commonly, the ads are found in publications such as newspapers, classified ads, magazines or through online ads and websites. A victim responds to the ad and is required to send an advance fee in order to receive the loan, but never receives it.

Warning signs – How to protect yourself

• Beware of companies offering a guarantee on your loan even if you have bad credit or no credit.
• Advertising through a recognized media outlet does not ensure that the ad was placed by a legitimate company.
• It is illegal for a company to request an upfront fee prior to obtaining your loan.