Payday Loan Scam Hitting Consumers

Posted on April 12, 2011 at 2:32pm by

A payday loan scam is hitting some consumers who applied for a loan online when they receive calls from scammers saying big money is owed.

In the case of Eric and Suzanne Conley from Canyon City, Colorado, they said a payday loan was their only option to get the bills paid and their kids fed. “You do it because you’re broke, it’s a last resort,” said Suzanne.

She went to a few payday loan sites, and filled out applications. For most sites, applicants must give all their personal information, including social security and bank account numbers, to find out if they qualify. Many payday loan sites then provide that information to multiple lenders.

The Conleys got their loan, but also something they didn’t bargain for– a call saying they were facing criminal charges for a loan they never repaid.

Do you feel like you are running out of options? The Sader Law Firm has more than 30 years of combined experience in Chapter 7 bankruptcy and Chapter 13 bankruptcy cases and can help you weigh your financial options and provide immediate relief. Contact us today for a free consultation at (816) 281-6349.



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