Hot Topics in Personal Finance
Payday loans are short-term loans marketed to consumers in need of cash – a growing population in this economy. The loans – plus often high interest rates – are to be repaid on the next pay day, and consumer advocates warn consumers against using payday loans because they are a short-term solution that come at a very high cost. To make things worse, NCL’s Fraud Center is hearing about a new twist on payday loan scams from consumers.
PayPal appeals to many consumers by offering a safe, hassle-free way to purchase items online without handing over personal information, such as credit card numbers, to merchants. Unfortunately, enterprising scammers are impersonating PayPal to take advantage of that trust and swindle unwary online sellers.
You've won millions in a lottery, or you've been offered a job as a "mystery shopper." Great news, right? All you have to do is deposit the checks or money orders you’ll receive and send the money somewhere, minus your “pay.” Is this your lucky day? NO! It’s a fake check scam that will cost you thousands unless you know the danger signs.