Avoid this Telephone Payday Loan Scam

WIFR-TV in Illinois picked up on this growing telephone payday loan scam where someone repeatably calls a residence threatening legal action if the person doesn’t pay off a payday loan they didn’t take out in the first place.  From the news story:


“Schermerhorn knew it was a scam, since she never took out a payday loan. The Better Business Bureau Director Dennis Horton says it’s just one of many types of scams going on right now.

“There’s an uptick in the number and again it has a lot to do with the economy and the fact that their are a number of people out there that are behind on their bills and maybe sent to collection, and they are preying on their fears that they will be jailed for that… which is not going to happen,” Horton said.

The BBB says if we have not taken out a pay day loans and we get a phone call, the easiest thing to do is just hang up.”




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