Payday loan providers made about $49 billion in high-interest loans year that is last. Significantly more than a 3rd of these loans were made on the web. We wondered what are the results once you submit an application for such financing, therefore I chose to discover.
For the duration of reporting an account previously this 12 months, We logged on to a niche site called eTaxLoan.com and done a software.
We asked for $500 and, become safe, I made up an target, a name (Mary) and a Social Security quantity. Your website asked for lots more stuff that is sensitive a bank-account quantity and a routing number — and I made that up, too.
Regardless of the made-up information, in under a full minute, i acquired an answer. […]