Consumer Tips

As part of OLA's ongoing mission to educate consumers about short-term, small-dollar loans, here are tips to ensure that consumers are well-informed before taking out a short-term loan. Ensuring responsible use of online short-term loans is the responsibility of both the online lender and the consumer.

 
  • Eight Ways to Measure Financial Wellness

    Anyone who’s ever struggled financially knows how worry can eat away at your confidence and productivity.  Shifting your focus to positive financial outcomes and understanding how to achieve them isn’t easy. But you can resolve to improve your financial wellness. What is financial wellness? It means that your day-to-day financial systems work well for you. […]

    Continue reading
  • All About Wellness: A Financial Literacy Month Journey

    Did you know that your financial and physical health go hand in hand? It makes sense instinctively, and there’s a growing body of research to back it up. According to one study, one out of every five workers believes their current financial problems are negatively impacting their life. Getting control over your money can reduce […]

    Continue reading
  • Are You Being Treated Right?

    “Treat people fairly and with respect.” Those six simple words summarize the promise made by members of the Online Lenders Alliance to our customers. We believe you have a right to be treated fairly and with respect when you seek an online loan, expect our members adhere to this crystal-clear code of conduct. Most of […]

    Continue reading
  • Borrowing with Confidence & Protecting Yourself When Shopping for an Online Loan

    Obtaining a personal loan online can be a quick and convenient option when you need credit. With online loans, you can complete your application and sign your loan documents from your computer or even your phone. The loan proceeds can be deposited directly into your account, usually by the next business day. But once you […]

    Continue reading
  • Western Union Refund Alert

    Western Union Refund Alert Consumers may be entitled to a refund if they were tricked into using Western Union to pay for prizes, loans, jobs, products and rewards that never materialized. Step-by-step details are available via the Federal Trade Commission website. The deadline to file a claim is May 31, 2018. Anyone who sent money […]

    Continue reading
  • Know who to contact if you think you’re being harassed by illegitimate debt collectors

    Recently, the Federal Trade Commission shut down a company that was calling consumers and threatening them over debt that had already been paid back. If you think that you’re being harassed by debt collectors over money that you don’t owe, immediately contact the Federal Trade Commission to report the company, report it to the OLA Consumer […]

    Continue reading
  • Get Credit Counseling Help

    If you find yourself in a situation where you cannot afford your loan payments, get help. There are several organizations that can help you with your credit concerns. The U.S. Department of Justice lists approved credit counseling services by state and judicial district.

    Continue reading
  • Suspicious Email?  Anyone Can Help Detect Fraud

    Suspicious Email?  Anyone Can Help Detect Fraud Email is a vital tool in our everyday lives. Unfortunately, it has also become a method of choice for financial criminals to conduct scams and fraud against consumers. Trust your gut if you get an email that seems fishy, and don’t take the bait. Legitimate financial providers will never […]

    Continue reading
  • Consumer Tips When Considering an Online Loan

    Never borrow more than you can afford Sometimes the unavoidable occurs, car repairs, an unexpected illness, or other emergencies, that take a bite out of our budget. If you’re in a position where you find yourself in need of a short-term loan, find out exactly what you will be required to pay back, when your […]

    Continue reading
  • Spring Is Arriving – and So Are Tax Refund Scams

    Spring is peak season for filing tax returns—and unfortunately that means it’s tax scam season, too. To protect the public, the Internal Revenue Service is warning taxpayers to watch out for refund scams and fake calls requesting personal or financial information. This tax season, the IRS is spreading the word about a growing and elaborate […]

    Continue reading