Is the Elite First Advantage Consolidation Loan Legit?
Have you received an email or a phone call from someone offering you a debt consolidation loan from Elite First Advantage at a low interest rate? You may have seen an ad about this loan offer that made you wonder if it’s real.
Unfortunately, this isn’t the savior you hoped for. It won’t help you get out of financial difficulties. It’s most likely a scam.
So why exactly does elitefirstadvantage(dot)com seem shady? Does the website belong to First Advantage, a background check company? And how should you respond to this offer?
An Overview of the Elite First Advantage’s Consolidation Loan Offer
The website Elitefirstadvantage(dot)com offers consolidation loans at a relatively low-interest rate of only 5.99 percent. A debt consolidation loan is the one that loan lenders provide borrowers who have already taken out other loans, usually at high-interest rates, and wish to take out another loan to pay off their existing debts.
The website shows how much their interest rate differs from the average ones others are offering, suggesting they can help those deeply in debt. In contrast to most consolidation loans, the Elite First Advantage loan does not affect a person’s credit score (as stated on its website).
Besides that, the website mentions that users won’t need to fill out excessive paperwork and can get the loan in one day. Also, there are no prepayment penalties to worry about. Based on the details provided on the website, Elite First Advantage seems like a promising consolidation loan provider, but is the site legitimate?
Is Elitefirstadvantage(dot)com a Scam? Warning Signs to Look Out For
Considering the actual interest rate offered by local banks could be extremely high, a consolidation loan with an interest rate of 5.99 percent might seem like the best option. However, several signs raise suspicion about the website, which makes the business shady.
The domain name elitefirstadvantage(dot)com was registered in April 2023, so it hasn’t been in operation long, at the time of writing. Since the website (or the business) is pretty new, its reliability is questionable.
The website does not include any business information, such as where the company is located or who owns the website. There are no details about the loan offer, terms and policies, and other details on the website; it’s just one page, which itself is poorly designed.
There is no form to apply for the loan on the website, which makes it even more fishy. Instead, it directs customers to call the given number directly; that’s not what a reputable company would do.
These signs all add up to make Elitefirstadvantage(dot)com suspicious and untrustworthy.
Is Elite First Advantage Part of First Advantage?
First Advantageis a reputable pre-employment screening company that helps organizations screen and find the right talent faster. Elite First Advantage, on the other hand, offers loans with low-interest rates.
First Advantage doesn’t claim to own Elitefirstadvantage(dot)com; the latter doesn’t claim to be affiliated with the former either. The nature of the operation of both businesses is also totally different. It suggests that both entities operate differently and aren’t related.
However, it doesn’t change the fact that Elite First Advantage is misusing the credibility of a reputable firm by including First Advantage in its name—another sign that suggests staying away from them.
Should You Apply for a Loan Through Elite First Advantage?
Elite First Advantage appears to be asuspicious website based on the signsdescribed above. Do not call the phone number listed on the website. If you decide to do so, they may try to scam you in many ways.
They might ask you to divulge your personal information, such as your name, address, bank statement details, credit history, social security number, and more. These details are critical, so if they are shared with unidentified individuals, they could misuse them. Don’t let them steal your identity.
They may ask you about your existing debts for which you seek a consolidation loan. Since most loan providers don’t let borrowers share conditions and other documents with others, if you share that information with scammers, they could blackmail you. You may also be asked to pay a processing fee, supposedly to account for admin on the loan.
And the list of ways the threat actors behind Elite First Advantage operate goes on and on…
How Should You Respond to This Loan Offer?
Elite First Advantage promotes its loan offer primarily through email, phone calls, and paid ads. If you received the loan offer by email, do not reply. Avoid clicking on any links included. If you’re too curious,use a link checker websiteto ensure the link is safe. Nonetheless, we advise against this.
If someone has contacted you via phone with this offer, they may try to ask you for personal information; don’t divulge anything. If you are contacted through these two methods, block the contact immediately. This way, they won’t be able to contact you again.
If you’ve seen an for this loan offer, alert others in the comment section about its suspicious nature; this will prevent the broader community from being duped.
Already Contacted the Scammers? Here’s What You Should Do Next
If you have already contacted the scammers and shared some critical information, it is impossible to undo what you have already done. However, here are a few tips that can protect you from getting into further trouble:
Elite First Advantage Isn’t the Right Loan Provider for You
It’s important not to make rash decisions simply because you need a consolidation loan urgently. Don’t choose loan providers like Elite First Advantage that are pretty new in business and aren’t transparent about their operations.
Ensure you only deal with reliable loan providers with a good track record and have been in business for a long time. While they may charge you a higher interest rate, you won’t fall victim to a scam.
Elite First Advantage is just one of many shady loan providers out there. Keep an eye out for them.
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