Recently, a MAAR Member received communication from an individual posing as a government representative. The caller claimed the recipient was delinquent on Paycheck Protection Plan Loan repayment and that a warrant was out for their arrest. They then presented two options: pay increasing sums of money or go to jail.
To avoid these scams, keep the following tips:
- The government and most reputable companies do not call consumers regarding these matters. You should receive several notices through formal communication channels, most often the mail, if payment is required on a loan.
- If you suspect a call is a scam, hang up and directly call the company or organization the caller claimed to be from. If the scam is regarding a PPP Loan, call the loan officer who initiated the loan. They can verify whether the information shared is legitimate.
- Be suspicious of urgency. No legitimate institutions will push for immediate payment over the phone.