SAN FRANCISCO, January 8, 2013 /PRNewswire/ --
PaydayLoansOnline.net, the McAfee Secure™ certified independent loan matching site, has shared details about some articles published on its site. Geared towards helping expand consumer awareness of the pitfalls of the payday advance loans industry, the site hopes to prevent many from falling foul of unscrupulous lenders. The platform works with a number of reputable and reliable lenders and hopes to increase customer vigilance against scams within the sector.
Watch the video: https://www.youtube.com/watch?v=7L8Nl3xjuEg
News First Five initially reported about a Colorado payday loan borrower (not from one of the companies featured by PaydayLoansOnline) who received a phone call from the fictitious "American Department of Law and Investigation." The PaydayLoansOnline.net site features the video reportage and an article explaining that this phone call formed part of a scam from an unknown source making threats to take the borrower to court for missed payments. The borrower in question was, in fact, fully up-to-date with his repayments.
Although it is not certain how the caller obtained the personal details of the borrower, such as his phone number or the name of the store-front payday lender he used, PaydayLoansOnline.net believes that this information was obtained through a loop-hole in the Terms & Conditions of that lender, which state that third parties can be given access to details of applicants. PaydayLoansOnline.net and all of its associated lenders do not share any applicant data with external parties and maintain a strict privacy and confidentiality policy.
PaydayLoansOnline.net made the announcement about the articles in the following statement.
"As well as being an objective and non-biased independent loan introduction service, PaydayLoansOnline.net prides itself on being a source for factual information about the cash advance loan industry. We advise and invite all consumers seeking loans online to peruse our extensive catalogue of articles on dodging scams and making sensible decisions regarding short term borrowing options before taking the plunge. In addition to this article on avoiding phone scams, we will be continuing to publish further educational and information pieces in the coming months."
A review of the PaydayLoansOnline.net website also revealed a detailed bad credit consumer manual with actionable tips and various easy-to-follow video guides.
Read the article at: http://www.paydayloansonline.net/phone-scam-sparked-by-payday-loan/