Share this: Illegal on the web loan providers plague pay day loan industry
Payday loan providers have been in existence for decades, providing quick-but-pricey loans to borrowers that are distressed. From hundreds of walk-in storefront offices, they loan away little amounts to be repaid through the borrower’s next paycheck.
Today, they’re getting elbowed aside by a cadre that is growing of rivals who aren’t certified and whom increasingly are accused of ripping off consumers. Final thirty days, the Ca Department of Business Oversight warned customers to watch out for rogue online lenders — frequently positioned overseas or that is overseas provide enticing come-ons from splashy web sites, but who may keep borrowers small recourse if one thing goes incorrect.
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