Loan spam calls are a pervasive nuisance, often targeting individuals who have recently applied for loans. These unsolicited calls can be persistent and intrusive, but there are several strategies you can employ to reduce their frequency.
What Are Loan Spam Calls and Why Do They Happen?
Loan spam calls typically originate from companies that acquire your information through "trigger leads." When you apply for a loan, the credit bureaus—Equifax, Experian, and TransUnion—sell your data to other lenders, resulting in a barrage of unsolicited calls. (centralbank.net)
How Can I Block Unwanted Loan Spam Calls?
1. Register with the National Do Not Call Registry
By adding your number to the National Do Not Call Registry, you can reduce calls from legitimate telemarketers. However, this won't stop calls from scammers or political organizations. (usa.gov)
2. Utilize Call-Blocking Apps
Installing call-blocking apps can help identify and block spam calls. Apps like RoboKiller, Hiya, and Truecaller maintain databases of known robocall numbers and can automatically block or label them. (kiplinger.com)
3. Enable Built-in Phone Features
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iPhone Users: Activate the "Silence Unknown Callers" feature by navigating to Settings > Phone > Silence Unknown Callers. This will silence calls from numbers not in your contacts, sending them directly to voicemail. (techradar.com)
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Android Users: Use the built-in spam filter in the Google Phone app. Go to Settings > Spam and Call Screen, then enable "See caller & spam ID" and "Filter spam calls." (whocalledus.net)
4. Contact Your Mobile Carrier
Many carriers offer services to block or label spam calls:
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T-Mobile: Offers Scam ID and Scam Block features. You can activate these by dialing #662# from your T-Mobile device or by using the Scam Shield app. (t-mobile.com)
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AT&T: Provides ActiveArmor, which includes call blocking and labeling features. You can download the ActiveArmor app from the App Store or Google Play. (whocalledus.net)
5. Report Unwanted Calls
Reporting spam calls to the Federal Trade Commission (FTC) can help authorities track and take action against scammers. You can file a complaint online at ReportFraud.ftc.gov. (consumer.ftc.gov)
What Should I Do If I Receive a Loan Spam Call?
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Do Not Engage: Avoid pressing any numbers to "unsubscribe," as this can confirm your number is active, leading to more spam calls. (consumer.ftc.gov)
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Hang Up Immediately: If you answer a spam call, hang up right away. Engaging with the caller can lead to more unwanted calls.
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Verify the Caller: If the call claims to be from a legitimate company, contact the company directly using official contact information to verify the claim.
How Can I Prevent Trigger Leads from Causing Loan Spam Calls?
To minimize the chances of your information being sold as a trigger lead:
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Opt-Out of Prescreened Credit Offers: Visit OptOutPrescreen.com to remove your name from lists used by credit bureaus for prescreened credit offers.
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Be Cautious with Your Information: Limit sharing your personal information, especially your Social Security number and financial details, unless absolutely necessary.
Conclusion
While it's challenging to eliminate loan spam calls entirely, implementing these strategies can significantly reduce their frequency. By combining proactive measures like registering with the National Do Not Call Registry, utilizing call-blocking apps, and being cautious with your personal information, you can protect yourself from unwanted loan spam calls.
Highlights:
- How to block spam calls on iPhone, Published on Saturday, August 23
- Tired of Unwanted Calls? Here's How to Help Thwart the Robocaller Invasion, Published on Friday, March 06
