The company operates under a variety of names, but the telephone number remains standard 775-200-1525. The names I have found so far are FastLoan4Me,com and FastLoanFast.  The scam can’t last long, but it is causing big problems for people.

The subject of Payday loans is one that has been in the press a lot. As with most subjects, there are two sides to the argument. Banks argue that PayDay loan companies prey on the poor and charge huge interest rates. The PayDay loan companies come back with, our loans are short term, the interest rate is not a valid benchmark as almost all loans are repaid within two weeks.

Both sides are right. The reason that people use PayDay loans is the bank won’t loan money to people with poor credit. The PayDay loan companies on the other hand are willing to take a short time risk, and charge people for the convenience.

And of course there are scams. FastLoan4Me is a great example. The scam is a good one. They are just randomly hitting people who are not customers with a $30 charge. Worse still, some of the banks are playing along.

These people need to be shut down. They seem to be rampant check this link.

I have not done the due diligence, so I am unwilling to point the finger at this stage, but I do have a person of interest.

Update: This doc is pretty interesting. There is no doubt that this is the same company!

Simon Barrett

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