The Washington State Department of Financial Institutions (DFI) received a complaint from a consumer who alleged he applied for a loan online to an entity known as Fast Loans Services a/k/a Fast Loans (“Fast Loans”).
The consumer alleged that Fast Loans requested he pay an advanced fee in order to obtain the loan; and that he paid the advanced fee but did not receive the loan funds. Fast Loans appears to be in the business of defrauding consumers.
Fast Loans is not licensed by DFI to conduct the business of a consumer lender.
DFI could not verify the identity or contact information for the company and it appears to be a fictitious, illegitimate business entity. Its principal(s) may have operated out of the Seattle, Washington area.
BEWARE OF QUICK MONEY!
In my opinion, payday loans, are a downward spiral. They drain your income before you receive it. Then you pay a heavy price tag for the convenience of quick money. Be aware of scams. More importantly, stay away from payday loans. Be patient. Your ability to produce wealth is the most important personal finance tool you have. Don't give it away.
Chris Bryant is an American financial advisor.