Victim Spreads Word on Cash Advance Ripoff, Don’t Stay Next

Victim Spreads Word on Cash Advance Ripoff, Don’t Stay Next

ABC News Fixer hears from guy used by advanced-fee loan scheme.

10, 2014 — Dear ABC News Fixer: I was trying to obtain a payday loan june. The web loan provider instructed us to deliver them a Green Dot MoneyPak card with $195 about it for insurance coverage to secure the mortgage, they might place the funds right on the card.

I inquired them why they couldn’t simply deposit the mortgage cash into my bank account, nevertheless the financing agent said it had been against federal laws. Therefore, i acquired the card and scratched from the quantity regarding the straight straight back and read it to him over the telephone. The funds were said by him will be for sale in a half-hour.

Twenty moments later on, he called straight back and stated my Social Security quantity ended up being “red-flagged” and the cash couldn’t be delivered. He said he could get rid of the flag” that is“red $500 – a figure that their lawyer later on lowered to $203.

At that point, we stated i needed my $195 straight back, however they threatened to sue me personally for the total amount regarding the loan — that loan we never received.

I understand now it was a fraud, and I also have actually closed my banking account. They most likely have inked this to numerous other naive victims who are simply attempting to make ends satisfy.

Got a customer issue? The ABC Information Fixer might be able to assist. View here to submit your condition online. Letters are modified for size and quality.

Dear Kevin: We’re therefore sorry to listen to you have scammed away from $195. That’s lot of money, particularly when funds are tight already. You want to many thanks, however, for sharing the ABC News Fixer to your story. You told us you desired to make certain no-one else gets ripped off.

Payday advances aren’t too much to start out with – they are short-term, exceptionally high-interest loans – but exactly what you’ve got entangled with was a loan scam that is advance-fee. Continue reading «Victim Spreads Word on Cash Advance Ripoff, Don’t Stay Next»