Payday Loan Privacy

Tip 1. Work with online payday loan providers that have the technology to protect your information.

• Ideally, you want to work with a lender that has a secure encryption system so that your personal information, transmitted via the Internet, is not vulnerable to inappropriate eyes.

• Be mindful that information regarding your IP address, web browser, etc. is collected to enhance your online application experience. You should also be aware that, like any other business service, payday loan providers must comply with law enforcement when requests for information are appropriately submitted.

Tip 2. Read loan maker privacy policies.

• When you apply for payday loans online, privacy concerns extend beyond technology. For example, what is the lender’s policy on sharing your personal information with third parties? Under what conditions is your information shared? Does the loan provider offer you the opportunity to opt out if you don’t want your information shared? Is access to your application file limited only to those involved with processing payday loans?

• You should maintain copies of your loan providers’ privacy policies along with your other financial documents. Payday loan providers may occasionally send you updates or amendments to these policies; these should be added to your files.