Consumer Alerts

Scams and Illegal Activity: Keeping Customers Informed

Beware of Scams


Phony debt collectors are calling consumers and falsely claiming they have defaulted on a payday advance loan. These bogus debt collectors demand that the alleged loan be paid back immediately by wire transfer or by providing bank account or credit card information. Sometimes, these phony debt collectors claim to be attorneys and threaten the customers with lawsuits or arrest if they don’t pay back the alleged loan immediately. In addition, there have been reports of sham companies sending fraudulent letters and emails to customers under the guise of legitimate payday businesses without their authorization or knowledge.


When contacted by a debt collector, you should always ask the debt collector to provide official written documentation that substantiates the debt. DO NOT provide any personal information on the phone to inbound callers, such as bank account or credit card information. If you ever receive a suspicious telephone call, email, or letter regarding an outstanding debt, you should take at least one of the following actions:

  • Immediately contact the payday advance company being referenced by the debt collector to inform the company of the potentially fraudulent activity.
  • Call or email CFSA so that we can support the regulatory agencies' actions against scams and illegal lending. You can reach us at 888.572.9329 or via email at
  • Alert your local law enforcement or your state attorney general’s office or go to
  • File a complaint with the Internet Crime Complaint Center by going to: if the suspicious activity occurs online.
  • File a complaint with the Better Business Bureau at if you are aware of the name of the debt collecting company committing the act.

Connecting With Our Communities

Managing household finances can be a daunting task. However, by using solid budgeting and savings techniques, you can accomplish major financial goals. In the Customer Resource Center, CFSA offers a variety of payday advance resources that support and encourage responsible lending practices, and highlight the vital role of our members’ stores in neighborhoods near you.

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Here you will find an aggregate of industry research, comprehensive data, and benchmarking tools from the short-term lending industry. They cover all payday advance business areas – consumer demographics, media hits, the latest policy initiatives, among others. Click here to access to the partner's resource library.

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For Our Policymakers

CFSA works at the federal, state, and local levels educate legislators and regulators about the role of payday advances in the broader financial services arena. This section provides resources for policymakers who believe in access to credit, want to preserve financial options and ensure balanced, substantive consumer protections. Click here to enter the Policymaker Resource Library.