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Personal data is resold when you apply for a payday loan

  • Pam Fessler decided to click on one of the ads for a payday loan service. She applied for a $500 worth of loan and used fake information about herself, but gave her actual phone number. 

    Fessler received a call a minute later and found out that she had been pre-approved for a $750 loan. She refused to accept it but kept on receiving phone calls from several other lenders. 

    She mentioned that many of the callers had a "strong foreign accent" and one of them, who told her that she had been approved for a $5,000 loan didn't even work for the company she had applied to originally. Turns out companies such as eTaxLoan sell personal information of their customers to lenders. 

    Although, Fessler couldn't manage to get in touch with eTaxLoan, she spoke to the head of another company, who told her that its not unusual for companies to resell people's personal data. 

    Tagged as: loan service, personal information loan, eTaxLoan, money news, business news