Update from Ralph Bristol Morning News - BBB Middle Tennessee can be heard Fridays at 7:35am on the Ralph Bristol Nashville Morning News, WTN 99.7 (FM Radio)
Fake Online Payday Loans Scam Consumers
The bills need to be paid and you don’t have enough money. A short-term payday loan may seem like the only option to get you past the crisis.
These days, payday loans are just a mouse click away. And some of the offers are mighty tempting: a “guaranteed” loan without a credit check.
Better watch out: This could be a set-up for a scam as many Middle Tennessee consumers found out after searching the internet and completing a loan application at
Consumers complete an online application for loans between $100 and $1000 providing their name, address, social security number AND bank account information including routing numbers to allow loan proceeds to be finalized by direct deposit.
Unfortunately, consumers found out too late that this website does NOT provide short term, unsecured loans, but supposedly forwards applications to multiple lenders for consideration. And for that referral service, consumers expecting loan funds to be direct deposited to their bank accounts are surprised to learn that “Fast loans 4 me.com” deducts $30 per week from their bank account by simply using bank routing numbers provided on loan applications.
FASTLOANS4ME, uses a Las Vegas address that BBB has determined is not the physical location of the company, but that of a private postal service. Over 700 consumers have filed complaints with BBB which remain unresolved earning the company an F Rating by BBB.
If you have completed an online loan application providing personal information that includes account numbers contact your bank or credit union representative immediately to determine if unauthorized charges are present.
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The BBB of Middle Tennessee, Inc. was founded in 1961 as a non-profit Tennessee organization serving 38 counties in Middle Tennessee and 7 counties in Southern Kentucky. The first BBB was founded in 1912. Today, BBBs serve communities across the U.S. and Canada.
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