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Payday Loan Consolidation Company "Payday Freedom" Announces Lender Scam Still Taking Place

11-17-2010 09:54 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Payday Freedom

There has been a massive increase of fraudulent payday loan debt collectors trying to collect fake payday loan debts. Most of the callers have very strong Indian accents from the client reports coming in. It's been ongoing for many months now with no end in sight.

Unfortunately, so many people are falling for this trap and the main problem is the operators of this scam are working out of the country. No legitimate company will force a person who owes a payday loan debt to make a Western Union payment especially with not being able to offer a validation of the debt.

The collectors are stating that they will have people arrested and will serve lawsuit unless they are sent money immediately. Even worse, if it can be any worse is threaten to call your employer in order to scare you.

People are certainly and understandably intimidated by this scam especially if they don't know about what is taking place now. The amounts these frauds are trying to scare out of people is now roughly between $400.00 and $1,000.00.

These calls usually come in on a Friday or during the weekend when government offices or the payday loan companies clients may or may not owe money to are closed and cannot be reached for validation purposes.

David Schmidt, one of Payday Freedom's founding member states: "If you get this type of call whether you owe the debt or not get a hold of the original creditor and Do not send anyone any money till you know for certain you indeed owe the money."

If anyone is currently in a payday loan consolidation program let your contact at that company know first before sending anyone any money and never just send money without getting proof of the debt being owed. is a pioneer in the payday loan consolidation business as they take on the clients debt directly to eliminate the interest and fees.

David Schmidt
PO Box 12254
La Crescenta, CA 91224

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