Hot Topics in Personal Finance
With increased expenses around the holidays, consumers may find themselves running short of cash for other bills, and some may be considering payday loans to cover the short-term need. Thinking about a short-term loan? Better think twice.
The National Consumers League’s Fraud Center is warning businesses and non-profit organizations to be on the guard for con artists armed with bogus “invoices” for business directory listings. We regularly receive complaints about this scam, but so far in 2012, we have received more than 100 complaints, a 500 percent increase (no, that’s not a typo) versus the first nine months of 2011.
Payday loans are notoriously bad deals for consumers, providing short-term fixes to financial dilemmas at an extremely high cost. Con artists are finding ways of making them even worse.