PAYDAY LOAN SCAM
Cash advance, easy money
“Congratulations. You’ve been pre-approved for fast cash”
Emergency financing can often be a lifesaver, especially during a rough patch. However, don’t fall victim to the Payday loan scam, a robocall offering fast and easy money. They are an attempt to collect your private data to commit identity fraud.
Get protection from payday loan scams
YouMail – the totally free service that stops over 1 million bad guys from ringing your phone!
What you should know
They’re called payday loans because payday is typically when borrowers can pay them back. They’re usually small, short-term loans with interest rates (on an annualized basis) upwards of 400 percent.
Most of the callers identify themselves as attorneys for the loan company. They obtain credit card information, dates of birth, confidential telephone numbers and other personal information, and then proceed to victimize the residents; either for identify theft or debt-collection.
How YouMail can help stop payday loan scams today
YouMail is the leading solution for getting rid of robocalls and we are proud that our customers are protected from scammers, spammers, and other unwanted callers. Best of all, it’s a 100% free service available for everyone!
Typical payday loan scam voicemail left with YouMail customers
TRANSCRIPTION: Hello. Loans can be very expensive. However, we have some fantastic news for you. You had filled out a form for a payday loan in the past. One of our lenders recently reviewed your information with our VIP lending department and we managed to get you pre-approved for a payday loan of up to $1500. All funds are deposited into your account within 24 hours. We are 100% American based company dealing with only licensed lenders to receive your preapproved loan. Press one now. Again, just press one now to take advantage of this pre-approved payday loan. To pass on this offer and get put on our do-not-call list press nine now.
What you should do
Hang up! Remember, pressing any number can be dangerous. You are much better off just hanging up. What if you get conned into taking the call?
Don’t provide any personal or financial information. And remember that numbers can be spoofed (caller ID will be fake). Report them and other Do Not Call violations to ftc.gov/complaint or 1-888-382-1222.
Our best advice
We probably sound like a broken record, but trust us! Your best defense is letting all unknown callers go right to voicemail. Need to get the specifics on the number? Check out YouMail’s online phone directory to see if that number has negative reports or is from a known scammer.