As we have all been suffering with this unexpected crisis, trying times mentally, physically and financially is becoming an understatement. The days have become desperate times which can call for desperate measures. To prevent falling victim to predatory lending, contact your creditors and servicers first to arrange payment assistance.
Be mindful, quick cash loans such as a payday loan, can add to your financial stress placing you deeper in debt. With many out of work not getting a paycheck, looking for quick cash loans to pay bills, creditors and basic household essentials, predatory lending is something to be cautious about.
Educate yourself first with the Department of Business Oversight Payday Loan brochure to understand how they work at https://dbo.ca.gov/wp-content/uploads/sites/296/2019/07/What-You-Need-to-Know-about-payday-loans.pdf.
Also see the DBO’s other educational consumer brochures to help prevent becoming a victim of financial fraud and scam at https://dbo.ca.gov/outreach/#brochures. If you feel you have been a victim of a financial scam contact the DBO toll free at 1-866-275-2677.