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Phony debt collectors are harassing Ohioans for repayment of payday loans consumers never borrowed, the Ohio Attorney General is warning. The collectors pretend to be from the legitimate Kentucky ...
8 warning signs of a debt collector scam. Receiving a call, email or letter from a company purporting to be a debt collector can spark alarm. Before disclosing any information, look for these ...
The federal government regulates payday loans because of: (a) significantly higher rates of bankruptcy amongst those who use loans (due to interest rates as high as 1000%); (b) unfair and illegal debt collection practices; and (c) loans with automatic rollovers which further increase debt owed to lenders.
A consumer inquires about a payday loan or short-term credit online and is asked for a long list of personal information. The lender is a shell firm; the loan might never be made, but the victim's personal information is now in the hands of scammers who sell it to a fraudulent collection agency.
The Internet Crime Complaint Center's latest scam alert includes a bogus advance-fee email purportedly sent by the director of the FBI as well as harassing payday loan calls from scammers claiming ...
This is an accepted version of this page This is the latest accepted revision, reviewed on 17 January 2025. Short-term unsecured loan A shop window in Falls Church, Virginia, advertising payday loans. A payday loan (also called a payday advance, salary loan, payroll loan, small dollar loan, short term, or cash advance loan) is a short-term unsecured loan, often characterized by high interest ...
If you took out a loan from ACE Cash Express you may be entitled to a refund. ACE Cash Express, a so-called "payday lender," which provides small loans with very high interest rates that must be ...
Blaine and Joel Tucker, his brothers, were also involved in payday lending and faced criminal charges for their activities. Blaine Tucker committed suicide in 2014, while Joel Tucker received a $4 million civil penalty from the Federal Trade Commission for selling fake payday loan portfolios to debt collectors.