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Fraudulent Loan Fee Solicitation

Jul 20, 2015

The Department of Business Oversight (DBO) has received reports of what appears to be an advanced fee scam. Several consumers reported receiving correspondence from Advance America/Cash Advance telling them they were approved for a loan. After accepting the loan offer, consumers were told that they could not receive the loan unless they first paid a fee. Consumers were instructed to pay the fee using a prepaid card. Victims paid the fee, but never received the promised loan. State law prohibits companies from charging such advance fees.

The original correspondence sent to consumers included loan documents and a letter that purported to be on Advance America/Cash Advance letterhead. Advance America is a DBO licensee. But it appears the sender of this correspondence was an entity fraudulently using Advance America’s name.

To check whether a lending company or other financial services provider is licensed, or to file a complaint, consumers should contact the DBO at or 1-866-275-2677.