Beware of This Over the Phone Payday Loan Scam

This is from a report filed by WIFR-TV in Rockford, IL:

“Someone keeps calling her, threatening to take legal action if she doesn’t immediately chip away at her payday loan. Schermerhorn knew it was a scam, since she never took out a payday loan. The Better Business Bureau Director Dennis Horton says it’s just one of many types of scams going on right now.

“There’s an uptick in the number and again it has a lot to do with the economy and the fact that their are a number of people out there that are behind on their bills and maybe sent to collection, and they are preying on their fears that they will be jailed for that… which is not going to happen,” Horton said.

The BBB says if we have not taken out a pay day loans and we get a phone call, the easiest thing to do is just hang up.”