Advance America Pay Day Loan

Advance Fee Loan Scam
Also Doing Business As:

• Advance America
• Cash Advance Payday Loan
• Priority Loan Servicing
• Cash Priority Loan Servicing
• Priority Paydayloan
• Priority Payday Loan Servicing, LLC

August 21, 2014

The Washington State Department of Financial Institutions (DFI) has received reports of what appears to be an advanced fee loan scam. Several consumers reported receiving e-mails telling them that they were approved for a loan. After accepting the loan offer, two consumers learned that they could not receive the loan unless they first paid a fee. Both consumers were instructed to pay the fee using a prepaid card. The consumers paid the fee, but never received the promised loan. In one case, additional fees were demanded after the consumer paid the first fee. In total, the consumer paid more than $1,000 in advanced fees and did not receive the loan or a refund.

In these cases, the e-mails sent to the consumers included a letter and loan documents. The letter was on Advance America letterhead. It was signed by a person called Daniel Grey, who identified himself as a senior loan officer for a company called “Cash Advance America Pay Day Loan.” The letter and loan documents referred to the lender by many names, including: Advance America Cash Advance Payday Loan, Advance America Pay Day Loan, Priority Loan Servicing, Cash Priority Loan Servicing, Priority Paydayloan, and Priority Payday Loan Servicing, LLC.

Additionally, two consumers spoke to the individuals running this apparent scam on the phone. One consumer reported that the individual she spoke to knew detailed information about her 2013 federal income tax return. How the individual got that information is unknown.

The following contact information is associated with this apparent scam:

516-422-5318 – cashadvanceamerica789@gmail.com
404-462-9597 – jamesanderson0422@gmail.com
512-309-5008

Verify Licenses

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.

Payday Loan Collection Laws

Washington State law prohibits threatening or harassing behavior by individuals attempting to collect a debt. The federal Fair Debt Collection Practices Act states that debt collectors must send consumers a written notice within five days of the first collection phone call, stating the amount of the debt and what it relates to. Debt collectors cannot state or imply that failure to pay a debt is a crime. They cannot call before 8:00 a.m. or after 9:00 p.m. They cannot harass or abuse consumers, or contact consumers’ places of employment.

Report Fraud

If you are suspicious of unlicensed activity by a payday lender please contact the DFI at 1-877-RING-DFI (746-4334), or online at www.dfi.wa.gov.

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 http://www.ftc.gov or contact the Consumer Financial Protection Bureau (855) 411-CFPB (2372), or online at www.consumerfinance.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.

Mypaydayloan.com

Unlicensed Payday Loans
Also Doing Business As:

• Zarvad III S.A

August 18, 2014

The Washington State Department of Financial Institutions (DFI) received a report that Mypaydayloan.com may be providing consumers’ personal information to a third-party who appears to be running an advanced fee loan scam. A Washington State consumer reported that, after she applied for a loan at Mypaydayloan.com, she received a phone call from a third-party. The third-party offered her a loan in exchange for an advance fee. The consumer paid the advanced fee using a prepaid card, but did not receive the promised loan. When the consumer attempted to cancel the loan, the third-party demanded another advanced fee. The third-party did not refund any of the fees to the consumer.

Mypaydayloan.com is not licensed by DFI. It is not registered to do business in Washington by either the Department of Revenue or the Secretary of State.

Mypaydayloan.com’s phone number, address, and e-mail address are unknown. It appears that Mypaydayloan.com may be operating outside of the United States.

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.

Payday Loan Debt Collection Laws

Collection activities are subject to the federal Fair Debt Collection Practices Act. Therefore, if you have questions regarding debt collection laws please contact the Federal Trade Commission at 1-877-FTC HELP, or online at www.ftc.gov.

Debt collectors cannot state or imply that failure to pay a debt is a crime. They cannot call before 8:00 a.m. or after 9:00 p.m. They cannot harass or abuse consumers, or contact consumers’ places of employment.

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.