Pay-day loan providers generated in the $49 mil from inside the highest-attention loans this past year. More than a third of them financing were made on the internet. We wondered what takes place once you submit an application for including financing, thus i made a decision to discover.
During reporting a story earlier this seasons, I logged to an internet site called eTaxLoan and you will filled out a credit card applicatoin.
I inquired to have $five hundred and, to be safer, I composed a message, a name (Mary) and a personal Safety matter. The site asked for a great deal more delicate articles – a bank account matter and you will a routing number – and that i produced you to up, too.
“Congratulations. Tremont Lending could have been chosen as your bank along with already been pre-approved for a financial loan doing $750.”
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