Payday Loan Phone Scam Update

Payday loan collection scams continue to make the news

. Minnesota Attorney General Lori Swanson recently filed separate lawsuits against five payday lenders that made loans to borrowers with annual interest rates that were higher than allowed by law. The lawsuits also allege that the companies violated Minnesota law by making loans to Minnesotans without being properly licensed by the Minnesota Department of Commerce.

"Many people are living paycheck to paycheck right now, and unlicensed internet lenders offer easy credit. This credit comes with a hefty price tag and often leaves a rash of problems in its' wake," said Attorney General Swanson.

The five companies against which the lawsuits were filed are:

Flobridge Group, LLC of Utah

Integrity Advance of Delaware

Silver Leaf Management of Utah

Sure Advance, LLC of Delaware

Upfront Payday of Utah

Phony Payday Loan Collection Scam

In the past, our team researched and shared information about a payday loan collections scam. Hundreds of readers from all over the country posted comments about their personal experience with this type of scam. Unfortunately, we must report that this trend continues.

Attorney General Swanson said that, in recent months, some consumers who have taken out or even just explored the option of short term loans have been exposed to a payday loan collection phone scam.

Some consumers who did not even take out a payday loan, but who only submitted a full or partial application online, have been reporting that they are being harassed by overseas scammers who threaten to have them arrested if they do not pay, even though the consumer does not owe any money. These scam artists call the consumers at home or work, often pretending to be lawyers or law enforcement, then they demand large payments, and they frequently attempt to scare and intimidate consumers into paying with threats of arrest or legal action against them or their families. Our team here at DailyDollar has also received reports of threats to tell their boss at work.

Attorney General Swanson's Advice To Consumers

Before doing business with an internet payday lender, DailyDollar advice is to make sure that the company is licensed to operate in the state in which you live. For example, someone living in Minnesota could refer to the Commerce Department for the state of Minnesota to determine if the company is truly licensed in that state or not before doing business with that company.

by: Nathan Randall

POST COMMENT

Update A Room With Flooring Renovations Linkedin's Latest Updates Copper Knobs Are A Great Way To Update Your Kitchen Cabinets! Bet On Most Of The Rmb Flow Activity On To Updates Slippers Dangerous Payday Loan Phone Scam Update M3i Zero Sakura For 3ds Dsi Updated! Get Updated With Latest News Medicare Learning Network Updates Medicare Claim Submission Guidelines Be Updated With Hp0-y26 Latest Material Nobody would refute his reputation as one of the preemi Ahtsbsobwz wsiebizresults.com Office requirements: One 10×10 room as office space, laptop Bsqyzkwgjgpvzqvu Stay Tuned With Arabic News Portal For World News Updates Itil Launch Updates Itil V3