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People should always checkвЂ”before they sign upвЂ”to find out if an Internet payday lender is registeredwith the Minnesota Department of Commerce tomake small consumer loans in Minnesota. Someconsumers encounter legal problems when theydispute the amount owed under an Internet loancontract. Also, consumers who borrow online oftenhave difficulty communicating with Internet paydaylenders, who are hard to locate to resolve disputes.Be wary about giving out information online tounknown Internet companies. This can expose youto potential privacy and identity theft risks, and adisreputable Internet company can use your bankaccount information to drain your account.
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