Summary of Article
Strapped for cash You might think an online payday loan is a quick and easy way to help stretch your money. But before you enter your bank account or any other personal information on a payday loan website, back away from the keyboard! That online payday loan might be a window to a scam.
A federal court has granted the FTC an order for contempt in the matter of Suntasia Marketing, Inc., a company previously involved in a telemarketing scheme that bilked consumers out of millions of dollars. This time around, the scammers took advantage of people looking for online payday loans by tricking them into completing an online application. The catch The website and application were a pretense – an attempt to get people’s bank account information. Once the company had their account numbers, they enrolled unaware consumers in an ongoing membership program for an online mall. But because the terms of the program were obscure and buried deep in the website, there was no way for the consumers to know. And the company took their silence and failure to cancel as acceptance and permission to regularly debit money from their accounts on a regular basis.
So how can you avoid a scam like this one It can be tough. But knowing how some scam operators work can make you think twice about the sites you visit and what you do when you get there.
If you suspect a scam, file a complaint with the FTC. For more information, check out our Payday Loans and Online Payday Loans article gmac auto loans customer serviceTagged with: bank account, identity theft, loan, scam
Payday Advance Online
If you are receiving payday loan scam calls, which are described in the below press release, do not follow the caller’s instructions quicken loans arena concerts Rather, you should:
My Canada Payday Loans - Online Payday Loans in Canada
(with video below) Criminals claim to be the reps of companies that offers payday loans, which are paycheck advances of cash with a short-term payback. The danger is, you could become a victim of this scam even if you never applied for a payday loan in your life. How does the scam work
Watch How The Payday Loans Scam Works:
Watch the video below to see in action the Payday Loan Scam exposed:
Payday Loan Scam in the News Video
Most of the callers identify themselves as attorneys for the loan company. They obtain credit card information, dates of birth, confidential telephone numbers and other personal information, and then proceed to victimize the residents.
Even worse, they threaten the victims with blackmailing if they don't receive the amount.
How To Avoid The Payday Loans Scam:
Try to stay away from business pitched over the phone, especially if they are payday loans. Do not respond to their threats. Ignore them and inform the Police or the closest law enforcement agencies.
Feel free to post below the names of the scammers, if you were contacted. If you want to borrow money from payday loans agencies, use only reputable companies.
How To Report The Payday Loans Scam:
Make your family and friends aware of this scam by sharing it on social media using the buttons provided. You can also officially report the scammers to the Federal Trade Commission using the link below:
Report To The FTC Here
How To Protect Yourself More:
If you want to be the first to find out the most notorious scams every week, feel free to subscribe to the Scam Detector newsletter here. You'll receive periodical emails and we promise not to spam. Last but not least, use the Comments section below to expose other scammers quicken loans arena events
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Payday Loan Assistance Scams - getloan.us.org
RICHMOND, VA (WWBT) - Scammers have put together a sophisticated scheme to steal from people applying for emergency cash through a company offering services for a payday loan.
If you have to send money to borrow money, it's a bad move. Jacob Coker saw numerous red flags, he says, after he was taken for $420, trying to get a $2,500 payday loan.
This scam hurt numerous victims, including a reputable online company and a bank.
We caught up with Jacob Coker at his work. Coker made a bad judgement call, he says, when he applied for an online payday loan through several different companies. He's not sure where the scam originated.
"He told me that I was scammed and then he hung up on me," said Coker. "He said he was representing Elite Cash Wire and he was telling me I was scammed by an employee."
EliteCashWire.com is an advertising agency - not a financial institution.
Consumers are matched with a cash advance lender. I had long conversations with owner Victor Daniel, who says someone is impersonating his business. He says he's been victimized three times this month and reported each one.
Coker says it started with an email verifying he got approved. Then crooks staged a call - purportedly from his bank - claiming they had $2,500 ready for deposit to his account, but someone had to pay the transfer fee.
Receipts show Coker bought two Green Dot MoneyPak pre-paid cards, $280 to cover the fee and $140 more to satisfy a second problem scammers made up about the lender.
"$420, I know that does not seem like a lot, but when you got mouths to feed and bills to pay, it is a lot," said Coker.
"No. No. I didn't get any money. I got two kids and I had two weeks without a pay check, so I needed the cash to cover my expenses."
I contacted Dana Wiggins at the Virginia Partnership to Encourage Responsible Lending.
"I don't foresee him getting any of that money back," said Wiggins. "The scammers roll the dice. They know that there's a big payoff in the end. They're charging high rates - or in the case of this gentleman, they know the whole idea is just to scam him out of his money."
Coker says all his emails from the scammers mysteriously disappeared.
"Perhaps they had a sophisticated email system where they allowed the email to expire," said Wiggins. "In some cases, these lenders will use magic jack phones or use numbers that's very similar to a bank's."
I also called the 866 number that showed up on Coker's cell and actually got BBT Bank. I dialed 8-6-6, but was somehow routed to the bank's legitimate 800 number.
BBT Corporate calls it unfortunate and says it's a victim too. BBT is encouraging its customers not to give out information over the internet and to contact the local branch to confirm whether a call is legitimate.
BBT does not make calls to tell people about transfer fees.
If you've been scammed, call the predatory loan hotline: 1-866-830-4501.
"This is a very unfortunate situation. BBT is always concerned when one of our clients is the victim of a fraud or scam, as our clients' financial security is of the utmost importance to us. Unfortunately, these types of consumer scams are not uncommon in the financial services industry. We encourage our clients to take proactive steps to protect themselves. Here are several characteristics of internet scams that should pose a "red flag":
• Fees on wire transfers are paid by the sender or are taken by the receiver (bank) from the deposit amount. BBT does not call a client to tell them to contact the sender about a transfer fee.
• Most direct deposits are conducted through ACH transfers which generally do not incur client fees.
• Cash card payments to the deposit sender are often required by these types of scammers.
• If you are contacted by someone who says they represent your bank, call your local branch to confirm the call is legitimate.
• Do not give out personal financial information over internet unless you can verify the company with which you are dealing student loans gov parent plus
Payday Loans Company Get upto $1000 Cash Loans CashOne
Updated: October 16, 2017Originally Posted: October 31, 2013
Also Doing Business As:
Please note that Cash Advance USA, Cash Advance, Cash Advance Group, US Cash Advance, Cash Advance, Inc., and other entities using variations of the name ‘Cash Advance’ should not be confused with the following companies licensed to conduct business through the Secretary of State, Department of Revenue, and/or Department of Licensing:
CASH IN ADVANCE, INC.ADVANCE AMERICA, CASH ADVANCE CENTERS OF WASHINGTON, LLC.
Please note that the collection attempts allegedly made by Peterson Law Group in connection with the apparent scams, should not be confused with the following companies licensed to conduct business through the Oregon Secretary of State and the Washington Secretary of State:
Peterson Law Group2725 N. Kerby Ave., Suite APortland OR
The Petersen Law Firm1104 Main Street, Suite 640Vancouver, Washington
Important Information for Washington State Consumers
Residents of the State of Washington are informed that Washington State law provides in RCW 31.45.105(1)(d) and (3) that a “small loan” (sometimes referred to as a “payday loan”) made by an unlicensed entity to a person physically located in Washington State is uncollectible and unenforceable in Washington State. A “small loan” is defined in RCW 31.45.073 and is a loan that does not exceed $700. Collection activities involving loans of $700 or less are subject to RCW 31.45.082, which limits the time, place, and manner in which a payday loan may be collected. Payday lenders must also provide borrowers with an installment plan if the borrower is not able to pay the small loan back when it is due.
Information About Federal Debt Collection Law
If you received a loan from a lender or owed money to a business and someone other than the lender or business is now attempting to collect from you, the collection activity may be subject to the federal Fair Debt Collection Practices Act. If you receive a communication from a party claiming that a debt is owed, you can request a “written validation notice,” which must include the amount of the debt, the name of the creditor you owe, and your rights under the FDCPA. If you have questions regarding federal debt collection laws, you can contact the Federal Trade Commission at 1-877-FTC-HELP or online at www.ftc.gov.
Prevent and Report Identity Theft
Consumers should never make payments over the phone or via email to a third party debt collector that refuses to provide a written validation notice. Even if the party seems to have some of your personal or financial information, you should not make payments or provide bank account or credit card information without receiving a written validation notice. If the scammers already have your bank account information, social security number, or other nonpublic information, you may be a victim of identity theft. The Federal Trade Commission (FTC) has information for victims of identity theft available online at www.ftc.gov.
If you feel you have been the victim of a financial scam and are concerned about your personal financial information, contact your bank and the three major credit bureaus. Procedures for contacting the credit bureaus are available on the FTC’s website at www.ftc.gov.
Report Suspicious Activity, Scams or Fraud
If someone threatens to garnish your wages, contact your employer, or uses threatening, intimidating, or offensive language, report such actions to state and federal regulators.
Washington State residents only: If you are a victim of a collection scam or if you suspect illegal or fraudulent activity involving a financial product or service, please contact the Department of Financial Institutions at 1-877-RING-DFI (746-4334), or online at www.dfi.wa.gov. You may also wish to contact the state of Washington Office of the Attorney General at www.atg.wa.gov.
If you live in another state, go to this webpage to find the regulator in your home state.
All consumers, if you feel you have been the victim of a scam you might also with to contact the FTC at 1-877-FTC-HELP (382-4357) or online at www.ftc.gov; or contact the Consumer Financial Protection Bureau (855) 411-CFPB (2372) or online at www.consumerfinance.gov.
If you feel you have been the victim of a scam involving the internet you may also contact the Internet Crime Complaint Center online at www.ic3.gov parent plus loan fafsa
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