how to know scam pay day loan

WRONG!!!!!

Payday loans are Short Term loans. The only way (I think) they probibally would go on your credit report is if you had a judgement against you for refusal to pay.

Department/Credit Cards, "Unsecured/Installment/Secured" are lines of credit that get reported to the three credit bureaus.

I got a call saying i can get 5000 in a hour just get a green pak monet card an put 300 on it an call back then they call me back an said because of my credit i need to put a 160 more on a card said it was for insurance as if i cant pay the loan back well the money never appear in my account this guy name is frank with a accent i m doing investigation on him im going to find u

DO NOT CONTINUE WITH THEM!!!

It's a scam!!!

http://www.scambusters.org/greendot.html

"Today's special issue highlights a scam you probably have never heard about, but one that is easy to fall for: the Green Dot scam.
Reloadable debit cards -- especially the top-selling, legitimate Green Dot cards -- are the new money-moving method of choice for scammers.

...

Green Dot reloadable debit cards are the latest weapon for crooks working a well known type of grant scam.

The con itself is a type of advance payment scam in which victims receive what seems to be a grant award check -- usually one they didn't apply for -- with a request that they then wire part of the payment back to cover some mythical fees.

You know the rest -- the victim wires the money, then the check bounces.

Now that so many people have wised up to this type of fraud, scammers have hit on the idea of using the legitimate Green Dot card system to collect their money.

Along with the bogus check, usually for just under $5,000, an accompanying letter says recipients must pay a finder's fee of 10% to the "broker" who secured the grant.

Now here's the sneaky trick. The letter tells victims to buy a Green Dot MoneyPak, of the sort available at many retail outlets including drug stores.

MoneyPaks are used to top up existing Green Dot debit cards. The victim sends details of the card to the "broker." These are used to top up the crook's own Green Dot card -- and then quickly drained at an ATM.

In other words, it's a money transfer that bypasses the traditional cash-wiring companies and offers a far more effective cloak of anonymity for the advance fee scammers."

http://www.kpho.com/story/21291286/scammers-n ... -moneypak-cards

http://www.nclnet.org/personal-finance/64-fra ... day-loan-offers

"The scam works like this: A consumer in search of an online payday loan sees an ad online, on a newspaper classified page, in an email, or somewhere else. The ad guarantees a payday loan without a credit check. The consumer is directed to a Web site that looks very official and legitimate. They are instructed to enter in personal information, presumably to begin the loan application process. In some cases, the scammers have even posted fake video "testimonials" online to make the scam seem more legitimate.

Once the personal information is entered, the consumer is contacted by the alleged payday lender (in reality, a scammer) and asked to send money to cover fees "before the loan can be processed." The scammers claim that this money is necessary to pay for things like "application fees," "insurance," "taxes," or other important-sounding costs. If the victim sends the money, they are typically contacted again with another ask for additional money for other fees before the loan can be processed. This sequence may continue until the consumer catches on to the con or runs out of money."

It's called the reloading scam!!!

im on the phone with these [***] now, thank God i looked this number up they are a complete scam and i feel really bad for those who sent them [***] money. God bless you all in this cruel cold world.

Yes a scam

does anyone know of legitament services that will help out with consolidation loas?

Why do I get the feeling some "helpful" PDL hustler will responding to this rather  incongruous request in the very near future?

Yes - go to your local credit union.  They are legitimate.  If you insist on going with an online source, then read this first - http://www.consumer.ftc.gov/articles/0078-advance-fee-loans

I feel so foolish, I just got scammed by a supposed pay day advance loan called America's Payday. The idiot on the other line told me because of my credit not being real good, I need to go to a Walgreens and get a Vanilla reloadable card, call him back, give him the numbers so he can verify I would be able to pay my monthly payment of $275. I also had to send him a picture of the receipt and the back of the Vanilla card. He said once I did that I could just transfer the money from my Vanilla card onto my bank card.  When I questioned him, he promised they were not going to touch the money, blah, blah, blah.  He said the $3000 loan would be in my account within an hour.  Never happened. Then when I tried to transfer the money onto my card, it wouldn't work.  I called the 800 number on Vanilla card, they said 15 minutes after I purchased the card, the money was transferred to a netspend card. (?). I called the "loan guy" back, he said I need to speak to his manager, cuz I was not approved (when he already said I was) and that the credit bureau kept my money....(never would happen). I told him I was going to call the police, his responded by telling me to go right ahead and to also call his manager, who supposedly works for the police department he said, and that he is expecting my call.

I called the phone number for the manager, got voice mail a few times, but did finally answer. He told me the same story that the bureau kept the money, blah, blah, blah. I advised him that customer service for the vanilla card told me my money was put on a netspend card. He said that is not true (are you kidding me?!?). Then he proceeded to rip me off yet another time. He told me that if I give him $150, he would wire me my loan of $3000 by western union and the $150 covers the cost of that. He said he will also send me my $275 back. Apparently, he thinks I don't have a brain. I was almost thinking I didn't either for falling for this scam earlier. I am so embarrassed. I told him, just to see what his response would be, that I need to check his company out with the Attorney General and Better Business Bureau first. He did not care, he said to go right ahead, it means nothing to him, his company is a legitimate company.

It just astounds me that these people can scam innocent people out of their money, who obviously are in financial difficulty to begin with. How do they sleep at night??? I have come to the realization that I am not going to get my money back (that I so desperately need) and I do not want them to do this to any one. Any suggestions?

The same exact thing happened to me just yesterday, for $275. Not only am I devastated, I am so embarrassed and feel so foolish.

Well there's not much you can do considering the scammer are overseas. The only thing I would recomend if they have your account info, is to go to your local back alert them, and maybe change your account numbers.

Oldest trick in the book as the youtube video says (assuming this is what happened).

www.youtube.com/watch?v=ai9dLu4bQsI‎

*considering the scammer are probibally overseas.

Be careful... they told me a installment fee of 130.00 and I was approved for 2500.00 and could pay it back in 24 months paying 130.00 each month. Didn't sound too bad to me, so I went and got a Green Dot card. I actually called them back and gave the Green Dot card #. After doing do a woman placed me on hold to transfer me to a "specialist" so she said. I held on for 5 mins then hung up and called back the phone kept going to a voicemail saying thank you for calling Payday Loan for America this is Kevin Jones and to leave a message... obviously not American by the voice so I kept calling. Then it hit me... this is a scam! I hurried and called Green Dot customer service they were no assistance. I then went to GreenDot.com and had my money transferred to my PayPal account... thank God I had just made one a few weeks ago because of a purchase I made on eBay. Once it was to my PayPal account I wired it to my Chase bank account. So thank God I thought fast... they soon called me and stated my funds were not there and I told them you're right because I moved them,,,, they swore up and down that it wasn't a scam yeah freaking right... be safe people don't do it!!!!

Just curious - didn't you find it worrisome when a lender wanted you to use a Green Dot card? Or when someone said, "in order for me to lend you money, you have to give me money"? Did the fact that this transaction involved total strangers in an unknown location, and no real, signed paperwork make you wonder?

I ask because these things would scare the heck out of me, and yet you and many others seem not to be deterred by them. So I'm not criticizing, but I am curious as to whether any of these things concerned you at the time.

Glad you dodged a bullet. It is all the better that the thieves tasted victory, only to have it snatched away from them. Pretty cool.  On the downside, you are at much greater risk for future scam attempts - particularly the fake bill collector scam.

Please do us all a favor, however. The site rules prohibit ALL CAPS, and they do so for good reasons. I assure you that fewer people read all caps posts, not more, and those who do are thinking bad thoughts about you with every word they read. So please, type normally. Your fellow posters would appreciate it.

Amen Ana,

I got several calls from William with a weird Indian accent.  Said much the same about the green dot Money Pak card.  He called from several numbers: (312)788-9976, (312)473-9824, and (206)317-1680.  Having great difficulty understanding him on the telephone I was transferred to Mike his supervisor. I think his full name was Mike Johnson.  They told me that they would have $5,000.00 in my account today if I go get a green dot card to pay for the application fee of $360.  I told them I only had $170 and put that on a green dot.  They said the $170 would be fine and I could pay the additional $190 after the $ was transferred into my account. As of today (the next day) the $170 is gone and no $ was transferred into my account..  Be really careful my good people.