Scam Artists Target Payday Loan Customers

Posted On: August 30, 2010 at 12:03 p.m.

Filed Under: payday loan public announcement scam artist

As a sort of public announcement, I wanted to make sure this word got out. A fairly new scam, involving persons that have taken out the payday loans in the past, tries to coerce consumers into paying money for loans that are already paid off. Here is the latest: “Con artists posing as payday loan collectors are using threats of going to jail and other scare tactics to coerce Illinois consumers into opening up their back accounts. [[ads]] Illinois Attorney General Lisa Madigan says her office has seen a rise in complaints about these fraudulent collection calls. Many consumers targeted in the scheme complain they’ve taken out payday loans before — usually from online lenders — but have paid off the debt. They say the con artists often know their names, social security numbers, place of employment, and bank account numbers — information that leads them to believe they’re dealing with legitimate debt collectors” (http://www.consumeraffairs.com/news04/2010/08/il_payday_lending.html). It is good to be aware of these scams. If you have taken out a loan in the past and know that you have paid it off, do not send money to anyone requesting it!