Skip to content
  • Privacy Policy
  • Contact Us
  • About US
CampusTimesNG

CampusTimesNG

Complete Campus Updates Just For You

  • Home
  • Admission
  • Institutions
  • Scholarship
  • Jamb CBT
  • Study Abroad
  • Career
  • NYSC
  • O’level
  • Toggle search form
  • What is Academic Writing: Definition with Examples Schoolings
  • Kellogg Institute Visiting Fellowships
    Fully Funded Kellogg Institute Visiting Fellowships In US Scholarship
  • UNILAG Cut-Off Marks
    UNILAG Amended Academic Calendar Institutions
  • Apply For INEC 2018/2019 Recruitment
    Guidelines To Apply For INEC Recruitment General
  • UNIMAID Post-UTME form
    UNIMAID Cut-Off Mark For Admission Admission
  • unilorin dress code
    UNILORIN Dress Code – New Things You Didn’t Know! Admission
  • Daily Trust Foundation Scholarships
    Daily Trust Foundation Scholarships for Female Medical Students Scholarship
  • study aids and scholarship supports
    How To Get Study Aids And Scholarship Supports In Canada Scholarship
Payday Loan

How To Avoid A Payday Loan Scam

Posted on July 24, 2025 By CampusTimesNG No Comments on How To Avoid A Payday Loan Scam

More and more Canadian money lenders are raking in super high profits as fast, easy alternatives to traditional lending products, when in fact they are exceedingly more expensive.

Unfortunately, workers, families and small businesses keep getting submerged under the whims and caprices of these so-called “virtual lenders” or scammers – These victims get access to easy cash to solve all?their financial woes, only to start paying back with almost a hundred per cent interest rate.

In Canada,?a Payday loan is allowed under?section 347.1 of the Criminal offence code,?insomuch as the province of the borrower has put in place sufficient provincial laws guiding the provisioning of the loans.?But that hasn?t stopped lenders from exploiting?unsuspecting borrowers who become victims to an unending debt trap.

Ways To Avoid A Payday Loan Scam

But, how can you identify and avoid these payday loan scam??Luckily, there are a few good ways to know whether you are falling for a scam or you are carrying out a legitimate transaction.?The best way, in most cases, is to?be extra vigilant.

This article will show you some of the red flags you should desperately try to avoid to enjoy a healthy financial life.

Look Out For Red Flags

Beware of unsolicited emails saying you have been selected for a loan you never asked for. In most cases, these emails have led to scammers and even identity theft.

Be wary of unscrupulous?lenders who don’t have a location or an address and/or contact information that one can easily reach. Many at times, they are the bad guys! Beware of what they are offering.

If the lender does not have a visible office location and offers to contact you, instead of the other way around, that’s definitely a red flag! you should start looking for another option.

While credit checks or verifications are not always required for payday loans, a lender that only requires your bank account details may not be what you really expect, and you might get yourself into an ugly situation you never bargained for.

You don’t also have to pay money in advance in order to get a loan. If the lender demand for money prior to depositing the promised loan, it’s advisable you cancel the transaction.

Carry out Your Research

Even though you may be under pressure to get a loan as fast as possible, it is always advisable to take your time to research a potential lender to avoid being scammed.

The safest way to go about this is to run a search on the lender?s name online, together with the word ?complaint? or ?scam?. Carrying out this process will bring up any issues other people have experienced with a certain company, which will help you to make a decision.

In most cases, information about that lender may be missing on online. If this is the case, it may have a bad reputation so a careful?check with the Better Business Bureau and the financial regulators of your province can give you a better idea of who you are dealing with.

It is always best to work with registered and established lenders, as they have a reputation to protect and will very likely not try to scam you.

The major thing here is that?you should feel comfortable with the lending institution before you give away your personal bank account details to them. And weigh your options more carefully before you get involved in a payday loan.

General

Post navigation

Previous Post: Olamide Endorsement Deals, Assets and Net worth
Next Post: What Are My Chances Of Getting Admission This Year

Related Posts

  • Banks USSD Codes
    Top 10 Nigerian Banks USSD Codes And Uses General
  • Unity Bank Money Transfer Code
    Unity Bank Money Transfer Code: Money Transfer With Phone General
  • Desktop computer that keeps restarting
    How Do I Fix a Desktop Computer That Keeps Restarting? General
  • migrate to america
    Different US Visa Types- How To Migrate To America General
  • Overtime
    How Does Overtime Work In Canada? General
  • Apply Rural Northern Immigration Pilot
    How To Apply: Canada’s Rural and Northern Immigration Pilot General

More Related Articles

Mtn Backup Service Backup, Restore Contacts & SMS On MTN Backup Service General
MTN Closed User Group CUG MTN Closed User Group (CUG) Subscription Services- All You Need To Know General
Highest Paying Federal Parastatal & Agencies Nigeria Highest Paying Federal Parastatal & Agencies-Top 10 General
Delivery Companies For E-Commerce 20 Delivery Companies For E-Commerce Sites In Nigeria General
25 Best Football Prediction Site in Nigeria 25 Best Football Prediction Site in Nigeria General
Mr Macaroni Net Worth, Source of Wealth General

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

scaleitpro

Navigation Links

  • Admission
  • Australia
  • Canada
  • Career
  • General
  • Immigrate
  • Institutions
  • Jamb CBT
  • Jobs
  • NYSC
  • O'level
  • Scholarship
  • Schoolings
  • Study Abroad
  • USA
  • Visa
scaleitpro1
  • How To Block Missing ATM Card
    USSD Code To Check GTBank Account Balance With Mobile Phone General
  • OAUTHC School of Nursing Post UTME Form 2025/2026 | ND/HND Admission
  • Explore Visa Options Australian Visa
    Explore Visa Options For Australian Visa Application General
  • UNIZIK JUPEB Admission Form 2022/2023
    UNIZIK Sandwish Admission List Announced Admission
  • Staying Awake In Class
    Staying Awake In Class: Tips For Concerned Students Career
  • Delta State University of Science and Technology Ozoro DSUST | 2025/2026 JAMB cut off mark Admission
  • Canadian Mennonite University
    Canadian Mennonite University, Winnipeg, Canada Study Abroad
  • LAUTECH Admission List
    LAUTECH Part-time Admission Form 2025-2026 Session Admission

Gallery

Nigerian Navy School of Health Sciences Offa
Canada Visitor Visa
Child to a Christian school
Ogun State College of Nursing Sciences

Recent Posts

  • EcoBank USSD: How To Open Ecobank Account With Mobile Phone
  • NNPC/SNEPCo National University Scholarship For Nigerian Students- APPLY!!!
  • National Institute of Construction Technology Courses & Requirements

Recent Comments

  • CampusTimesNG on FUOYE Post-UTME Form: Cut-off mark, Eligibility, And Registration Details
  • folakemi ashabi on FUOYE Post-UTME Form: Cut-off mark, Eligibility, And Registration Details

Calendar

July 2025
M T W T F S S
 123456
78910111213
14151617181920
21222324252627
28293031  
« Jun    

Copyright © 2024 CampusTimesNG. All Rights Reserved.

Need help? Our team is just a message away

 

Loading Comments...