Customers warned about dangers of employing unlicensed online payday loan providers

Customers warned about dangers of employing unlicensed online payday loan providers

Unlicensed online lenders that are payday focusing on New Brunswickers, warns the Financial and Consumer Services Commission (FCNB).

FCNB is seeing a rise in complaints from customers about improper behavior from payday financing companies that are not certified to use when you look at the province. These complaints consist of reports of intimidating collection methods and communication that is aggressive.

Some consumers have actually stated that unlicensed payday lending companies have actually contacted them at their host to work or contacted their manager or coworkers if they fall behind within their repayments, that will be up against the legislation.

Consumers searching for credit choices probably know that utilizing the ongoing solutions of a business that is not licensed to work when you look at the province places them at a larger risk for damage. Continue reading