Bogus payday loan offers siphon money from victims - WAFF-TV: News, Weather and Sports for Huntsville, AL

Bogus payday loan offers siphon money from victims

At least two online payday loan companies are asking customers to pay fees upfront. (Source: MGN Online) At least two online payday loan companies are asking customers to pay fees upfront. (Source: MGN Online)
HUNTSVILLE, AL (WAFF) -

Many people in a pinch between paychecks may utilize payday loan services.

At least two online payday loan businesses are using bogus loan officers to get upfront payments from unsuspecting consumers.

Cash Advance USA and Fast Cash Loan USA are the companies in question.

Consumers say they were contacted after filing out loan applications online. Some of the applications were on Cash Advance USA or Fast Cash USA's websites. Others say they filled out applications on sites that appeared unrelated. The victims say they were told to make upfront payments but never received their loans.

"The saddest part about this is these are people who need money," said Michele Mason with the Better Business Bureau. "They don't have the money to lose, by any means, and now they are going to find themselves in worse financial position."

If you need to take out a loan, try to find a local source that is reputable and that you trust. Make sure you get everything in writing, and know that it is illegal for companies to charge advance fees for loans.

Copyright 2014 WAFF. All rights reserved.

Powered by Frankly