How the scam works:
Criminals claim to be the reps of companies that offers payday loans, which are paycheck advances of cash with a short-term payback.
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:
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. Below are a few recommendations according to their online reputation, for the United States, Canada and United Kingdom:
TrustedPayday (United States)
TrustedPayday connects you directly to one of the largest, premier networks of Lenders throughout the United States. They offer a safe and easy solution for your immediate financial needs. Everything can be done online. You can access their website HERE .
CashNetUSA (United States)
CashNetUSA is a leading online lender of subprime personal loans. A subsidiary of Cash America Intl. Inc. (NYSE: CSH) and publicly-traded company, the company funded more than 4 million loans to consumers in over 31 U.S. states. You can access their website HERE.
MDG provides consumer financing Canada wide. Through an online application, they offer consumer loans up to $2,850 for purchasing only products that they carry. MDG customers can purchase notebooks, tablets, HDTVs, desktop computers, electronics, appliances, furniture and mattresses from brands such as SONY, Toshiba, Acer, Samsung, LG, Nintendo, PlayStation, Frigidaire, Sealy, etc. You can submit an application HERE.
QuickQuid is a renown licensed lender, offering online personal loans to thousands of subprime consumers across the UK. They claim clients receive money within 10 minutes of approval. You can access their website HERE.
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