A payday loan is a loan that one collects at a reliable source to finance his or her various needs. There are a lot of payday loan companies which offer the best of services and they are known for a quick delivery of the loan demanded at the specified time.

This is a great feat and it is highly commendable and so to say, there are many payday loan services which we can call lifesavers for these people actually aim to assist a person get out of a difficult financial situation. But this is to also say, there are bad ones which are only set up to swindle you out the remaining money you are hoping for survival and as such, it is advisable to be aware of their tactics and avoid them.


To prove this fact; in the year 2013, the Better Business Bureau (BBB) informed the public about the harm associated with the use of the internet for ecash loans, short-term high rate loans, cash advance loans, check advance loans, payday loans and a host of many other loan orders, about the risks associated with giving an upfront payment loan to swindlers who pretend to be loaners.


These people who are making the payday services look bad, only aim to get a person’s money and go away with it without giving the person what he or she had demanded. These people have no consideration for the welfare of the person who they engage in and they are fraudulent most of the time. They are mostly found on the internet where they pose to be a good representative of a made-up company or sometimes they impersonate the staffs of good reputable loan companies and then they deceive their victim into paying upfront first before the loan is sent.


After the victim has paid the money, what they do is to send fake details for the person to think they are actually who they seem to be and after that is done they can change their phone sim card destroy it to avoid contact with their victim, after which the victim has paid the money into the account the person was ordered to pay.

In 2007, in the USA, a man related to a sad condition he faced when he was swindled of his upfront loan. He was said to be doing some consulting work for a well-known organization. He said he was in a situation where he had spent all his money due to the instability of his income flow in the country as of that time. Then one day as he was browsing on his computer, he saw an advert of payday Loan Company and then he clicked on the link, the link took him to a well-organized website which was built for loan purposes. He saw a number on the page indicating he call for inquiries and he did.

Then after a series of conversation with the receiver, he was advised on how to apply for the loan he needed on the page and he did, all seemed authentic and it was processed well. After he had submitted his details he was then asked to pay an upfront payment of what he wanted as a loan, he objected to this but was advised that his order would not be processed if he didn’t do as he was asked. Then after a series of deliberations, he paid in the money and was asked to check back on his page for order progression.

After the time he had been given had elapsed, he checked on the page but it wasn’t opening anymore and then he tried on his cell, but the number had been switched off, and then he realized the people he had interacted with were not people who were genuine and they had taken away his last money. From then on, he learned that not all sources of loaners on the internet can be trusted. Today he is a strong advocator for the fight against internet fraudsters and swindlers.

Some people still believe that everything they see on the internet can be trusted and sad to say many people still fall a victim for the hoax of these irresponsible people. It is necessary for one to, first of all, evaluate his or her financial status and make a list of all the things the person which to do on his monthly or weekly budget, so as to avoid overspending and go broke. Although it is a good idea to go for loans from these reputable loan lifesavers still, it is still more trustworthy and safe to first ask for assistance from friends and family before seeking the aid of the loan services.

Another good advice if one needs to avoid the internet swindlers in his or her desperate attempts for money is to build upon his or her cryptocurrency; like the bitcoin, dogecoin, and other internet money. This internet money assists greatly especially to a person who doesn't have physical on-hand cash, the ecash can be sold to get a physical money which could assist one greatly in the times of needs, they are also known as an instant cash transfer.

It is necessary for one to note that the amount of money one may seemingly possess could be a determinant for the amount of ecash loan a person may also receive. The reason for this is that there are many firms which demand that a loaner gets the same amount of money which would be paid back to the lender.

This factor could be at a disadvantage for the loaner because the higher the amount of money lent the more money you are likely to pay back. If you wish to go for a payday loan and you are onto the right source it is advisable you take as much as you can pay back, otherwise, you would end up in a big debt, if you are unable to pay back before the stated time. This could also be further worsened if the lender demands an interest on payback and so, it is vital for one to choose the right amount of money for his or her needs.