New Path Advantage Scam Loan Offer – Don’t Fall For It
Have you received a New Path Advantage Scam call or voicemail claiming to be from Barbara From New Path Advantage saying you’ve been approved of a loan? Beware! it’s a scam. New Path Advantage is not a legit loan company.
This article provide information on how the loan scam works, how to spot a fake loan offer, and what to do if you’re a victim of the `New Path Advantage scam loan.
Overview of New Path Advantage Scam
New Path Advantage which is located at newpathadvantage.com poses as a loan company. The people behind this scam voicemail contact people and claim the recipients have been pre-approved for a loan. The amount mentioned is often large, as high as $51,000.
More than hundred people have received this annoying calls and voicemails. The scam voicemail has the following format;
”this is Barbara with New Partner Advantage my phone number is 866-666-0544 I’m not sure if you’ve spoken to an assigned agent regarding our advantage program I do see your preapproval is for up to $51,000 so I’m just gonna go ahead and keep this in pending status for you and if you’ve got about 10 minutes today give me a call back we can go over the details as well as the benefits again my number is 866-666-0544 I do hope to hear from you soon and have a great day“
How Does The New Path Advantage Scam Work?
When you call the number mentioned on the voicemail you’d be made to speak with an agent who’d convince you that the loan is legit. The scammer would lie that you’ve already been approved and you only need to pay a small amount of money called ‘Processing fee’ in order to get the loan.
This is where the scam comes in.
After paying the ‘processing fee’ which is sometimes ‘$100’ you wouldn’t receive any loan or grant of whatever kind.
New Path Advantage Scam : Redflags That Stand Out
Formerly Known as Advantage Approval
The scammers formerly operated with the alias ‘Advantage Approval’ via advantageapproval.com using same number ‘ 888-912-0069’ listed on their website. As of early 2023, more than 200 people received the scam voicemail and left complaints on scampulse about the annoying calls.
Not Licensed as a Loan Company
New Path Advantage is not licensed as a lender by SEC.gov. It follows no rule, laws and regulations. There is also no permit or license displayed on the site to to show it has been registered under USA nonprofit registry.
No Physical Address or About Us Details
The website lacks concrete details about the supposed loan company. There’s no business address listed, no About Us info or Policy page. The website is just a one page with just a telephone number listed to call an agent.
Recently Registered Website
Their website ‘newpathadvantage.com’ was registered on September 2023 and would expire on September 2024. This is an indicator that the platform hasn’t been operating for a long time, and would easily shut down.
How To Block New Path Advantage Scam Calls
Because this call can be repetitive and annoying, especially if you don’t fall for the bait of calling them back, we advise that you to block this number from calling you.
One of the best ways to block unwanted calls on a cell phone is to download a call-blocking app. A call-blocking app acts like a filter. The company behind the app uses call data or reports from users, the FTC, and other sources to predict which calls are illegal or likely scams. The app then intercepts those calls before they reach you. Some apps are free, but others you have to pay for.
To get a call-blocking app
- Go to the online app store for your phone’s operating system (iOS (Apple), Android, etc.) and look at ratings for different apps.
- Look online for expert reviews on call-blocking apps.
- Check out apps listed at ctia.org, a website for the U.S. wireless communications industry. The site lists apps specific to Android, BlackBerry, iOS (Apple), or Windows
How To Easily Detect Loan Scams
1. The lender isn’t interested in your payment history
Reputable lenders make it clear that they’ll need to look at your credit, sometimes getting reports from all three major credit bureaus (Equifax, TransUnion and Experian). Whereas scammers
2. Isn’t Registered or Licensed To Operate
The Federal Trade Commission (FTC) requires that lenders and loan brokers register in the states where they conduct business. If a lender you’re interested in does not list any registered states, it’s definitely a loan scam.
3. Asks for Upfront Fees
Financial institutions may charge a fee for your application, appraisal or credit report, but those charges are deducted from your loan.
4. The lender calls, writes or knocks
A reputable lender will not target you over the phone, through direct mail or through door-to-door solicitation.
5. The Website isn’t secure
When visiting a lender’s site, what you don’t see can be just as important as what you do see. Always look for:
- A padlock symbol on any pages where you’re asked to provide personal information.
- A URL that begins with “https” instead of “http” (the additional “s” stands for “secure”).
At best, the lack of these safety measures means that the lender isn’t concerned about the integrity of the site. At worst, it could mean that the lender is leaving your information exposed on purpose as part of a loan scam.
6. No physical address
If you don’t find any sign of a physical address, avoid the lender. Many loan scam operators would rather be untraceable so they can avoid legal consequences.
7. The lender pressures you to act immediately
Don’t fall for the urgency plea. One of the hallmarks of loan personal scams is giving you an immediate deadline to sign on for a loan because the offer expires quickly — possibly even the next day.
8. Guarantees approval
There are no guarantees when it comes to personal loan application approval — any company that suggests otherwise should cause you to think twice.
9. Lack of Transparency
Legitimate lenders may charge application, credit report or appraisal fees. However, those fees will be clearly disclosed on the lender’s website.
Conclusion
New Path Advantage located at newpathadvantage.com is operated by scammers who use deceptive tactics to trick people into believing they’ve been pre-approved for a loan. Don’t fall for their sham loan offer!
See similar scam here
