The dangers of illegal online loans are lurking, especially on unsecured online money loan offers and conditions that at first glance seem alluring.
It is not new news if there are online loan users who claim to be threatened by debt collectors or are desperate because they are in debt with interest that continues to skyrocket. There are victims of illegal online loans who are terrorized by distributing personal photos with the narrative “selling themselves” to pay off debts.
There are also other illegal online Payday Loans victims who have complained to the Legal Aid Institute because of delinquency in paying debts.
Unreasonable interest, as well as inhumane ways of collecting debt are one of the risks and dangers of illegal online loans, aka fake. Sadly, the number of illegal online loans is currently not large.
As of August this year alone, the Financial Services Authority has found and closed …read more >