Date Posted: 
Wednesday, February 24, 2016

The Washington State Department of Financial Institutions (DFI) has received a complaint against Newyearpay.com. It appears that this entity is operating an advance fee loan scam. The consumer reported receiving daily calls from the entity with an automated voice message stating that they have “reconsidered his loan and it has been approved,” then directing the consumer to go to their website at www.newyearpay.com and apply for the loan. Upon investigation, it was discovered that newyearpay.com diverts consumers to newyearspay.com with the entity business name being New Years Pay.

The telephone number associated with entity is (682) 808-4783

Websites associated with this entity: Newyearpay.com and Newyearspay.com

New Years Pay is not licensed by the Washington State Department of Financial Institutions to make loans. This entity is not registered to conduct business in Washington State by the Department of Licensing, the Department of Revenue, or the Secretary of State.

Washington residents are advised that state law provides in RCW 31.45.105(1)(d) and (3) that a small loan made by an unlicensed entity to a person physically located in Washington is uncollectible and unenforceable in Washington State.

Verify License

DFI strongly recommends that consumers deal only with those lenders that are properly licensed to conduct business. Consumers can determine whether lenders are properly licensed using the “Verify a License” feature on the DFI’s website at www.dfi.wa.gov/consumers/findcompany.htm.

Report Fraud

Washington State residents, if you are suspicious of unlicensed activity by a payday lender please contact the Washington State Department of Financial Institutions at 1-877-RING-DFI (746-4334), or online at www.dfi.wa.gov.

If you live in another state, find your state regulator.

If you feel you have been the victim of a loan scam please contact the Federal Trade Commission at 1-877-FTC-HELP (382-4357) or online at www.ftc.gov; or contact the Consumer Financial Protection Bureau (855) 411-CFPB or online at www.consumerfinance.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.

If you feel you have been the victim of a loan scam involving the Internet please contact the Internet Crime Complaint Center online at www.ic3.gov.

If you feel you have been the victim of a loan scam and are concerned about your personal financial information, contact your banking institution, and the three major credit bureaus.