BRAZOS VALLEY-A payday loan scam has conned nearly 300 people out of money and 18 of them were Texans.
The Better Business Bureau is warning consumers everywhere to stay away from a payday loan service operated by a companies such as My Cash Guardian, Money Leaf, and My Money Toolbox.
They guarantee large amounts of cash advances within 24 hours if the consumer provides bank account information. These consumers began to notice unauthorized debits from the business for $29.95. These businesses told its customers that charge was a membership fee or account protection, promising that they would get that money back.
The BBB says those customers were never repaid, and never got loans the president and CEO of the Brazos Valley BBB, Bill McGuire says the bureau generally warns customers to stay away from payday loans.
The BBB recommends the following tips for consumers to protect themselves.
1) Be sure to verify the business's contact information before you give out your information.
2) Read the terms and conditions carefully and ask questions.
3) If a pop-up box appears close it without agreeing to a purchase.
4) Check out the business with the better business bureau.
The BBB has contacted these businesses about the number of complaints, however they failed to resolve the reason for them.
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