Victim Spreads Word on Cash Advance Ripoff, Don’t Become Then

Victim Spreads Word on Cash Advance Ripoff, Don’t Become Then

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

June 10, 2014 — Dear ABC News Fixer: I happened to be attempting to obtain a quick payday loan. The online loan provider instructed me to deliver them a Green Dot MoneyPak card with $195 they would put the funds directly on the card on it for insurance to secure the loan.

I inquired them why they couldn’t just deposit the mortgage cash into my banking account, nevertheless the financing agent stated it absolutely was against federal regulations. So, i acquired the card and scratched from the true quantity in the back and read it to him throughout the phone. The funds were said by him could be obtainable in a half-hour.

Twenty mins later on, he called right back and stated my Social Security quantity ended up being that is“red-flagged the funds couldn’t be delivered. He stated he could eliminate the “red flag” for $500 – a figure that their attorney later on lowered to $203.

At that true point, I said i desired my $195 straight straight back, but then they threatened to sue me personally for the balance regarding the loan — that loan we never received. (more…)