You may have seen your chance to earn money on social media

The BBB website made an announcement that this is a scam to take your hard earned money.

This “company” is operating an advance fee loan scam. It is not registered with Wisconsin’s Department of Financial Institutions, as required by law. BBB Tips for Spotting Advance Fee Loan Scams:

• Vague or unclear fees charged before you get the money. There are often fees charged for loans:  application fees, appraisals, credit report fees. A real lender will post those fees prominently and collect them from the money they are lending you, but a scam lender may try to collect them as a condition for you getting money. Any up-front fee you need to pay before getting the loan is a cue to walk away.
• Avoid guarantees and unusual payment methods. Real lenders never guarantee a loan in advance. They will check your credit score and other documents before providing an interest rate and/or loan amount and will not ask you to pay an upfront fee. Fees are never paid via Green Dot MoneyPaks, iTunes cards, or wiring money. Unusual payment methods and payments to an individual are a big tip off.
• Do your research. Scammers try to trick you by pretending to be from official or trustworthy institutions (including Better Business Bureau or your current lender) or sounding like a known organization. Contact the agency directly to check the program is real. Lenders and loan brokers must register where they do business. To check registration, in the U.S., call your state Attorney General’s office or your state’s Department of Banking or Financial Regulation. In Canada, contact the Office of the Superintendent of Financial Institutions. 

If you found this “company” because of a post, advertisement or page on Facebook, please report it to Facebook. Consumers who lost money should also file a complaint with the Federal Trade Commission. 

This “company” uses different names. Initial reports to BBB stated that this company called itself Major Micro Financial Bank. However, its Facebook page, https://www.facebook.com/Major-Micro-Financial-Bank-103755021442863/, now redirects to https://www.facebook.com/lendingtree0/, where the company calls itself Lending Tree. It is NOT affiliated with Lending Tree, LLC. If you wish to see the BBB profile for Lending Tree, LLC (headquartered in Charlotte, NC), click here.Read Less