Payday Loan Scams and Complaints

Parting people from their hard earned money is something that scammers have been doing for centuries, and one of the worst things that can happen to a person is that they lose their paycheck. One of the ways in which modern scammers make this happen is through the insidious payday loan scam where a large fee is charged for the privilege of obtaining money. The way in which a scam company will defraud earnest citizens out of their money is through the act of operating illegally in a state so as to get around laws regarding interest rates associated with payday loans. The interest rates on fraudulent payday loans are often exorbitant and may get a person into serious trouble when the fee turns out to be about as much as their entire paycheck. After becoming the victim of such fraud, it is often impossible for an individual to recoup their losses. Such scams are also incredibly bad for people who don't have a lot of money in the first place. If you feel you've been the victim of a payday loan scam, visit ScamGuard.com to find out more about this type of fraud and to share your story.