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Posts Tagged ‘Pay Day loan’

Demand for High-Interest Payday Loans Soars in Minnesota

By K&S on February 26th, 2013 | No Comments

Posted in: Debt Scams
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Residents of Minnesota are turning to high-interest payday loans and other services outside the mainstream banking system, controversial enterprises that operate through a loophole to dodge state restrictions. The demand for these types of loans more than doubled in recent years, from 170,000 loans in 2007 to 350,000 in 2011, the highest reported to the…

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FTC Takes Action in Pay Day Loan Scam, Financially Vulnerable Consumers Should Be Vigilant Of Others

By K&S on February 21st, 2013 | No Comments

Posted in: Debt Scams
Tags: , , , ,

On February 20th, the Federal Trade Commission (FTC) announced victory, at least temporarily, in halting unauthorized credit card transactions involving thousands of consumers. The scammers charged credit cards for non-existent goods and services totaling more than $25 million, targeting financially vulnerable consumers who had at some point prior to the transaction, applied for a pay…

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