Beware of False Collections Callers: A Caution to Online Cash Advance Borrowers

2 Nov 2011

Each year, the Federal Trade Commission receives more complaints concerning debt collection than on any other industry.

This comes from the fact that some collectors are not collectors at all. They are scammers, who are unaffiliated with the company, but accessed your information online. These callers are ruthless in their efforts to steal your funds. They call repeatedly or continually, and threaten to imprison borrowers if they do not pay their loans. Most often, these are not men and women from the payday loan company, they are individuals who gained access to your personal information and are using against you in order to take your money.

The first step in avoiding these men and women who are out to steal is this: only secure an online cash advance from a reputable company with secure servers. When filling out an online application, make sure to check that the company has security servers on their sites, and will not leak your information to outsiders.

Collections scammers can be detected because of a few major flaws in their schemes. These men and women do not provide the statutorily required written notices about a borrower’s debt and their rights. They also fail to provide the correct amount of debt due, usually an amount that is larger than state law allows.

They will usually call and ask for personal information, such as bank account or social security numbers. Then, these wily callers attempt to coerce their victim into wiring money. They are overly-aggressive and threatening.

Unlike these callers, true collectors’ employees from the Fair Debt Collection Practices Act are held to a set of specific standards. These employees are required to be cordial and respectful on phone calls, and refrain from any abusive, deceptive, or unfair practices. They are not allowed to call outside of the hours of 8:00 am-9:00 pm and cannot attempt a collection from a consumer’s work place.

Cash advances can be an extraordinarily helpful avenue for men and women who are in need of some cash fast. Online cash advance websites provide financial service to men and women all across America, especially those with little or no credit. The lenders do not provide credit checks, which opens up this method of getting cash to a whole new category of Americans.

Still, consumers need to borrow wisely. In these tough times, it is easy to settle with a convenient cash advance company, but this could get you into more trouble than you bargained for. Organizations like the Better Business Bureau work to identify reputable payday loan and cash advance business, and weed out the less honest lenders in the industry. Look for the Better Business Bureau accreditation symbol on the bottom of your cash advance website before you borrow with that company.

PayDay2Go is an online payday loan company servicing the United States from our website. We are dedicated to fast and easy payday loans. PayDay2Go is not a lender, but a payday loan and cash advance a matching service. We take applications from Americans all across the country and match each borrower with a trusted lender in order to provide fast and cost-effective loans. You could have your cash in 24 hours! We are accredited by the Better Business Buraeu, so you know that you will be treated with fairness and respect when you partner with us. Don’t hesitate to apply today and get the cash you need!




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