- Report: #1252989
Complaint Review: Consumer Payday Loans - Internet
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Author Not Confirmed
Why?
Consumer Payday Loans
Internet, USA
Phone:
646-480-0797
Web:
www.quickcash.com
Categories:
Business Rating:
(0)
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Consumer Payday Loans Mike (no last name) Complete Deception! Approved for $3,000 loan for emergency. Hidden fees total $600! Never got loan. Asked for refund. Was told we cant do that. New York Internet
Submitted online request for a payday loan for emergency funds for my husband who is overseas and needs to get home fast. I was redirected to multiple sites and eventually received a call from Mike from Consumer Payday Loans that I was approved for a $3,000 loan.
I called Mike back as I was very excited to get the money. Only to find out I had to make my first monthly installment of $180.00, which didnt seem unreasonable. I sent a moneygram to a Dennis Edward in FL for a total of $203.00 including fees.
I received a call later that evening from ?? account manager that he had transferred money in to my account but first I had to pay activation fee of $410.00. I was desperate for the large loan, So I sent it.
Again, I received another call from account manager, now asking me to pay taxes on the loan in the amount of $498.00. I asked for the name of the company and said I was going to report them because this is a scam and I am highly disappointed that I am not getting the money I need AND I want refunded of the money I am already out.
1 Updates & Rebuttals
Stacey
Texas,USA
Your money is gone
#2Consumer Comment
Sat, September 05, 2015
This is from ABC NEWS
Payday loans are not a great deal to begin with – they are short-term, extremely high-interest loans – but what you got entangled with was an advance-fee loan scam. It’s where a supposed lender says they’ll get you the funds, but only if you provide some money first – for loan fees, insurance or something else.
Such a scheme is illegal on its face. Any time a supposed lender asks for money upfront, you should head for the hills.
The problem is these bogus lenders can be quite sophisticated. We’ve heard of consumers who were sucked in by fancy ads and websites, with legitimate-looking applications and people who pose as loan officers.
But if there’s money required upfront, it’s a scam.
Legitimate lenders do frequently add application, appraisal or credit report fees; however, they take them from the amount you’re borrowing after everything is approved. When someone asks for a chunk of money for fees before you’ve gotten your loan, it’s a huge red flag, according to the Federal Trade Commission.
Consumers who encounter an advance-fee scheme like this can report it to the Internet Crime Complaint Center and the Federal Trade Commission.
