Originally Posted: 02/18/2014
Washington State consumers report that entities calling themselves Priority Payday, Priority Payday Loan, and Priority Payday Loan Servicing LLC may be operating advanced fee loan scams.
One consumer reported that she submitted her personal information on several loan matching websites and, a short time later, she received phone calls and e-mails from entities offering her advance fee loans. Among those was Priority Payday. A representative of Priority Payday named John Benson offered the consumer a $3,000 loan if the consumer paid an advance fee of $219.98. Attached to John Benson’s e-mail were phony loan documents.
A second consumer received a similar e-mail from a person calling himself Robert Clark. Robert Clark claimed to represent Priority Payday Loan and Priority Payday Loan Servicing LLC. Phony loan documents were also attached to Robert Clark’s e-mail.
These apparent scams are associated with the following contact information:
DFI contacted the company providing phone service to Priority Payday. Based on phone records obtained, it appears that Priority Payday is located in India.
Priority Payday, Priority Payday Loan, and Priority Payday Loan Servicing LLC are not licensed to provide loans in Washington State. They are also not licensed to otherwise do business in Washington State. DFI strongly recommends that consumers deal only with those consumer lenders that are properly licensed. Consumers can determine whether companies are properly licensed using the “Verify a License” feature on the Department’s website at www.dfi.wa.gov.
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 atwww.dfi.wa.gov/consumers/findcompany.htm.
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(link is external).
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(link is external); or contact the Consumer Financial Protection Bureau (855) 411-CFPB or online atwww.consumerfinance.gov(link is external). 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(link is external).
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(link is external).
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.