Unsecured

Many people are under the impression that they can identify fraudulent companies by looking at the quality of an online website. This is far from the truth as scam artist are becoming more crafty in their attempts to deceive people, and will use neat-looking websites to carry out their schemes. However there are red flags that will indicate that you are dealing with a merchant cash advance scam company. In this article, we discuss the top 3 key indicators of cash advance scams.

1. There will be many complaints listed with the Better Business Bureau.
If you land on the website of a payday loan company, it is highly suggested that you visit the Better Business Bureau website to search for complaints. They keep track of complaints from people who were defrauded by national payday loan scam lenders. All you have to do is simply research the suspect company’s name on the Better Business Bureau’s website, and they will instantly provide you with a list of complaints. Take note of the types of complaints reported and most likely you will see a pattern of how the payday loan consolidation scams are taking place. Also, the Better Business Bureau offers a grading scale, based on the complaints file and whether they were resolved. This makes it easy for individuals to quickly identify the cash advance USA scam companies from legitimate lenders.

2. Search for online review forums for payday loan scams.
There are websites and forums that are geared towards allowing individuals the opportunity to reveal how they were scammed by these companies. These types of forums or websites are designed to get the message out so that other people can avoid being scammed. These sites provide a wealth of information, personal experiences, and scams on cash advance company lenders.

Caveat: If you notice that the review forum or website is affiliated with any other payday lenders, be very cautious in your assessment. This means that the online forum is trying to get you to favor a company or a set of companies.

3. The company requires you to pay upfront fees.
Usually payday lenders do not charge fees upfront. If you are dealing with a legitimate company, then the standard practice is to build all fees are into the loan agreement which you then pay at the end of the loan term. Usually, if you are required to pay money upfront then beware, it’s most likely a cash advance mutual scam.