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DEL PLAINES, IL, March 21, 2023 /24-7PressRelease/ -- Payday lenders with substandard data security practices are exposing their customers to victimization by scammers.
When payday lenders don't effectively safeguard the personal financial information they collect from customers, that confidential information can end up in the wrong hands. Fraudsters using increasingly sophisticated techniques prey on these same consumers, often using confidential information stolen from payday loan companies.
Scammers buy the personal information from hackers or acquire it illegally through data breaches. They may contact payday loan customers, pretending to be employees of the payday lender, and ask for bank accounts or Social Security numbers, which they use to steal money or data. Or they'll trick unsuspecting victims into sending a fee to secure a loan or pose as debt collectors.
"These scammers target the most vulnerable households in our society," states Nicole Horton, director of online lending services for GoCredit.me. "Their predatory schemes make it even more difficult for these families to get on the right track financially.
"At GoCredit.me, we make protecting our customer's confidential information a top priority," says Nicole. "We're asking them to trust us with their bank account information, Social Security numbers and other personal data. As a lender, we take that trust very seriously."
Helping families in need achieve financial stability
For many of the approximately 25 million U.S. households that are unbanked (meaning no one in the household has a checking or savings account at a bank or credit union) or underbanked (meaning they regularly use alternative financial services), securing a loan from a traditional financial institution can be difficult.
"What these millions of families need is a path that helps them get to a more secure financial situation," says Nicole. "If they can build savings, they'd be better able to handle the unexpected expenses that can derail a household budget.
"GoCredit.me offers these families a better lending solution," she continues. "A solution that keeps their confidential data secure. A solution that gets them the cash they need today and the savings that will help them tomorrow.
"That's exactly what the savings and installment loan from GoCredit.me delivers," says Nicole.
Customers can apply for a GoCredit.me savings and installment loan up to $4,000, build savings and get the opportunity to build their credit history.
An easy way to build savings
"You may not have heard of GoCredit.me," says Nicole, "but you will! We're a new kind of company with a new kind of lending product designed to help families get to a more stable and secure financial place.
"With the GoCredit.me savings and installment loan," she continues, "our customers get the cash they need right now to meet emergency expenses. And a portion of the loan is placed into an account that builds and accrues interest as the customer makes installment payments on the loan. Once the loan is paid off, the customer receives full access to their savings account.
"What's more," she adds, "as our customers make their payments, they're getting the chance to build a positive credit history, which can help when they buy a home or car or apply for a job."
A loan stacked in the borrower's favor
"Our customers find themselves in a brighter, more secure financial situation," says Nicole. "They're better equipped to handle life's unexpected expenses, and they can continue down the path toward financial stability."
Customers in Oregon can apply for the GoCredit.me savings and installment loan by visiting the GoCredit.me website. Illinois customers can apply online or visit the company's store at 95th Street and Halsted Street in Chicago—the first of many planned stores in convenient neighborhood locations.
"We want to help our customers get to a better place," Nicole concludes. "We look at it as a partnership. We want our customers to know that we're here when they need us, but we won't set them up to fail."
GoCredit.me, headquartered in suburban Chicago, gives Illinois and Oregon consumers a simple, easy way to build savings and get funded for an installment loan of up to $4,000, both online and at the company's inaugural storefront location on Chicago's South Side.
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