Scam Alert:

CONSUMER - PLEASE BE AWARE:

  1. Have you been called by someone claiming you have been pre-approved for a loan and all you have to do is send $150-300 for a processing fee? It is a scam. We do not conduct transactions over the phone. ElcLoans.com DOES NOT have any loan agents contact you. Do not provide the caller with any personal information. ElcLoans.com is a matching service only, not a lender. We do not solicit customers over the phone.
  2. Have you been called by someone claiming you have defaulted on a loan and will face criminal prosecution unless you immediately wire them the money? It is probably a scam.

Here's what to do:

If you receive a suspicious telephone call:

Tips to avoid becoming a victim of this scam:

Source: http://www.fbi.gov/news/pressrel/press-releases/paydayloanscam_120710