Why scam loan calls are flooding your phone and voicemail right now — and how you can stop them

Are you suddenly being inundated with calls about a loan you never applied for? You’re not alone.

Annoying fraud calls from personal info-seeking scammers posing as processing reps, usually promising large sums of money, have reportedly been increasing of late — and it’s getting on everyone’s nerves.

Chalk up the scummy surge to a perfect storm of economic anxiety and rapid technological advances, experts say.

“Scammers are astute social engineers who know that in an uncertain economy, many people are hunting for financial relief to alleviate the burdens, and this is where desperation kicks in,” Clayton LiaBraaten, Senior Executive Industry Expert at Truecaller, told The Post.

According to the Better Business Bureau, the global gang of virtual pickpockets’ latest ploy is to pepper unwitting consumers with phone calls and voicemails, insisting on verifying details before a phony loan application can go through.

After telling you that they need to verify details, such as your salary, they’ll provide a callback number and an application ID to make it seem real. They’ll also give a specific, urgent deadline for you to call them back by.

Of course, there is no loan — and users sharing any sensitive data, such as Social Security number, bank account information, or date of birth, will open themselves to serious risk, the pros warn, saying that the scammers are banking on the fact that you’ll respond first and think later.

“Scammers understand their targets — they have all the psychological information they need,” LiaBraaten shared, adding that they know parents are juggling a lot and might not have time to digest a scam call and determine if it’s official, or that senior citizens are the ones still most likely to trust a voice on the other end of the phone.

Since the start of the new year, over 4,000 instances of a loan scam call have been reported on the BBB’s Scam Tracker. People have reported receiving multiple calls per day, often from different phone numbers, but with nearly identical scripts, the bureau said.

“How do I get these degenerate scumbags to leave me alone?” one Reddit user asked.

This person shared that they sent the callers to voicemail multiple times, and when that didn’t work, they pressed “9” to be added to the do-not-call list “more times than I can count.”

“I’ve picked up the phone & talked to an agent. I’ve pretended to be a vulnerable elderly person to maybe trigger what tiny shred of their conscience is left. I’ve told them to [redacted] themselves. I’ve told them that I am literally making an actionable threat and encouraged them to call the FBI. And they still. Keep. Calling. How do I make it stop?” they wrote.

This user was far from the only one to share that they had similar experiences.

To avoid a loan processing scam, the BBB suggests verifying the company’s legitimacy before moving further. Hang up the phone, do research on the company and contact them directly using verified contact information.

According to the FTC, some scam callers might seem to know you, but it’s a setup to get you to provide personal information.

It’s important to never share personal information with unsolicited callers — and to avoid sharing sensitive information over the phone in general unless you initiate the call to a verified number.

Voicemails that have vague details, generic names or urgent demands for a call back are instant red flags — and don’t call the number back. Returning the call could ultimately connect you to a scammer or result in unexpected fees.

The FTC noted that there are pressure tactics to look out for, such as saying things like “I hope you don’t miss out” or “no pressure” or even offering to take you off the call list — if you return their call.

The agency warned never to call back, not even to “opt out.” Doing so could lead to even more scam calls. If you’ve already picked up the call, don’t press a number to “unsubscribe,” as it only lets the caller know that your number is valid.

LiaBraaten added that if you find yourself on the phone with someone claiming to be a loan officer, ask for their name, company and license number, then hang up and call the company’s official number to verify their identity. And if the caller pushes back or uses high-pressure tactics, it’s a scam.

Since scammers use fake names and numbers to make calls look like real companies, caller ID can’t be trusted. If you’re receiving these calls, block the number and find out what call-blocking or call-labeling services are available through your phone’s settings or the provider’s website.

The FTC also has a National Do Not Call Registry, which gives people a choice about whether they receive telemarketing calls, and people can register their phone for free.

However, the FTC notes that other types of organizations may still call you — such as charities, political groups, debt collectors and surveys — but if you receive an unwanted call after being registered for 31 days, it’s advised to report it to the FTC.

There are ways to check if you’re being scammed, too. You can look up the phone number or details of the call online and see if anyone else posted about it as a warning. If you believe you’ve been contact a scammer, the BBB suggests reporting it to their Scam Tracker.

Along with the FTC and BBB, LiaBraaten suggested reporting the call to your state’s Attorney General.

At the end of the day, LiaBraaten said that “the best defense is to be proactive, not reactive.”

“It is important to recognize that scammers don’t want you to ask questions or triple-check a link. Every second you pause to think strips away their power. Scammers thrive on confusion and the fear of missing out. They are looking for a live number and a willing ear,” he explained.

“Simply engaging or pressing a key to opt out often just confirms to them that your line is active, leading to even more calls. The most powerful move you can make is to slow down, be skeptical and just hang up.”