Security

LendUp Security Center

Protect Yourself from Debt Collection Scams

At LendUp, your safety and security are our top priorities. Unfortunately, scams involving fraudulent debt collectors have become increasingly common. These scammers impersonate legitimate lenders or debt collectors in an attempt to intimidate or deceive consumers into sending them money or providing personal information.

How to Recognize a Debt Collection Scam:

  • Pressure Tactics: Scammers often threaten legal action, arrest, or wage garnishment unless immediate payment is made.
  • Requests for Immediate Payment: Fraudulent collectors insist on immediate payment via wire transfer, prepaid debit cards, cryptocurrency, or gift cards.
  • Lack of Documentation: Legitimate debt collectors are required to provide validation of the debt. Scammers usually refuse to provide any documentation or verification.
  • Unfamiliar Debt: The debt referenced by scammers may be unfamiliar or nonexistent.
  • Use of Fear or Intimidation: Scammers may use aggressive or rude language or threaten arrest, which legitimate collectors never do.

Remember: LendUp will NEVER:

  • Threaten legal action or arrest over the phone or via email.
  • Demand immediate payment by unusual or untraceable methods like prepaid cards, cryptocurrency, or wire transfers.
  • Refuse to provide detailed written validation or information regarding any debt.

Protect Yourself from Loan Scams

Scammers often impersonate trusted lenders, attempting to deceive consumers into paying upfront fees, providing personal information, or agreeing to unfavorable loan terms.

Signs of a Loan Scam:

  • Requests for Upfront Payments: Scammers typically demand fees upfront (such as application fees, insurance, processing fees, or taxes). Legitimate lenders never ask for payment upfront.
  • Guaranteed Approval: Scammers may promise guaranteed loan approval regardless of your credit history or financial circumstances.
  • Untraceable Payment Methods: Fraudulent lenders often insist payments be made through wire transfers, cryptocurrency, gift cards, or prepaid debit cards.
  • Pressure for Immediate Action: They push you to make quick decisions without reviewing loan terms carefully.
  • Unprofessional Communication: Look out for poorly written emails, unsolicited text messages, or phone calls from unfamiliar numbers.

Remember: LendUp will NEVER:

  • Ask you to pay upfront fees before issuing a loan.
  • Guarantee loan approval without conducting proper eligibility checks.
  • Pressure you to act immediately without reviewing documents or terms.
  • Request payments via untraceable methods like gift cards or wire transfers.

What You Can Do to Protect Yourself:

  1. Always Verify the Lender: Check that the lender is licensed to operate in your state, and visit their official website or contact them through trusted channels.
  2. Never Pay Fees Upfront: Legitimate lenders deduct fees from your loan amount or add them to your repayments—never demanding upfront payment.
  3. Trust Your Instincts: If an offer seems too good to be true, it probably is. Always be cautious and skeptical of overly generous offers.

What You Should Do if You Suspect a Scam:

  1. Do not send money or give personal information if you're unsure about the legitimacy of a debt collector.
  2. Request written documentation validating the debt. Legitimate collectors are required by law to provide this.
  3. Verify independently: Contact the original lender or creditor directly using information you know to be correct.
  4. Report suspected scams immediately to:

If you ever receive a suspicious communication claiming to be from LendUp, please reach out to us immediately at [email protected].

By staying informed, you can protect yourself and your finances from fraudulent activity.

Resources to Protect Personal Information & Prevent Identity Theft

Here are some trusted resources with tips on how to safeguard your personal information and avoid identity theft

Federal Trade Commission (FTC):

Consumer Financial Protection Bureau (CFPB):

USA.gov:

National Cyber Security Alliance (NCSA)

Frequently Asked Questions

Yes, LendUp keeps customers safe by using secure encryption technology to protect your personal and financial details when you submit information. We also clearly warn you about common scams, such as fake loan offers and debt collection fraud, and provide guidance on how you can avoid them. Always ensure you're using the official LendUp website.

Always check the website's address in your browser. The official LendUp website is www.lendup.com. It should always start with https://, indicating a secure connection.

Fake loan offers usually promise guaranteed approval, ask for fees upfront, and pressure you into making fast decisions. LendUp will never ask you to pay upfront fees or guarantee approvals.

Verify the sender’s address matches @lendup.com. Check carefully for spelling mistakes or slight changes. Scammers often use lookalike URLs (for example: lend-up.com instead of lendup.com). Hover your mouse over the link (without clicking). A small text box or status bar will appear showing the real website address. If the URL looks suspicious or unfamiliar, don't click.

No, LendUp or any legit lender never requests payments using gift cards, prepaid cards, wire transfers, or cryptocurrencies. If someone asks for these payment methods, it’s a scam.

Phishing emails usually include urgent demands, unusual links, spelling mistakes, requests for personal or banking information, or unexpected attachments.

Not necessarily. Scammers often copy company logos and branding. Always verify the sender’s email address carefully and never click suspicious links or attachments.

Do not provide personal information or payment. Instead, ask the caller to provide written details by mail.