Washington State Department of Financial Institutions

Consumer Alert:
National Payday Loans

Possible Loan Collection Scam

December 10, 2009

The Washington State Department of Financial Institutions is warning consumers to verify the license of any lending professional they are considering doing business with to avoid becoming victims of potential scams.

Please note that these scammers are frighteningly well informed, very persistent and extremely threatening. Anyone who has been contacted by them should take steps to protect their personal financial information and treat this as a matter of identity theft.

National Payday Loans may be conducting a loan collection scam. National Payday Loans does not have a listed address.

National Payday Loans has provided the following telephone numbers:

1-510-709-4660

National Payday Loans does not appear to have a Web site.

The company is not licensed by the Department of Financial Institutions. The company is not registered to do business in Washington by either the Department of Revenue or the Washington Secretary of State.


How The Potential Scam Works


If You Feel You're A Victim

If you feel you have been a victim of a loan scam, please contact the Federal Trade Commission at 382-4357 (1-877-FTC HELP), or online at www.ftc.gov. Because the scammers have access to bank account information and social security numbers, victims should consider themselves victims of identity theft and take appropriate precautions. The Federal Trade Commission has information for victims of identity theft available online at www.ftc.gov.

Consumers should know that Washington state law prohibits threatening or harassing behavior by individuals attempting to collect a payday loan. Only licensed companies are permitted to make payday loans in Washington.

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