01 May 2020   /   0 comments

Loan Site Buckle Under Covid-19 Strain Revealing Applicant Data

Paul

The Covid-19 pandemic has posed not just threats to human life but it has also made public a whole lot of information about loan applicants that are meant to be private. In the past couple of weeks or months, we have had lots of people looking out for avenues to borrow money to maintain their lives while they are in isolation or staying indoors.protection program

Paycheck Protection Program

Some of the personal information of loan applicants provided on some loan sites especially under the Paycheck Protection Program (PPP) was not well managed either due to excess applications coming in or through bugs on the website.

Lenders During This Crisis

One of such cases was narrated by Jay Warren. He was trying to complete an online application under the Paycheck Protection Program but the site kept timing out, he tried to reload the page several times and all attempts to no avail. At some point, he was lucky to have the page pop up and to his surprise, he found out something worrisome. He was seeing certain information of one of the applicants that were supposed to be private being displayed.

The first page he viewed had information such as the name, business phone number, and email address of the applicant. He clicked the next page and it got even worse, with more information about this person showing; he saw the business address and the last four digits of the person’s social security number. At this point, it was obvious that something has gone wrong.protection program

He had to stop at this point because going any further might reveal other confidential information such as the proof of payroll form, the monthly salary of the applicant, criminal history, driver’s license scan, recent tax return, and possibly a voided check.

This is a serious case at this point as most people could have had their information exposed to people who might exploit these details and use it against them either to scam them or bully them. It was later discovered that most people had several glitches while completing the Payroll Protection Program (PPP) application.

The service provider in charge of the online application is Lendio, a company that specializes in matching lenders with borrowers in the United States.

India had to contact Warren and some other applicants that there was no data breach or glitch on their site and assured them that the date was not shared any way on Lendio’s end. They also offered to provide a year worth of credit monitoring at no cost and also requested that some of the applicants should resubmit their application using a different lender.

In as much as people need help this time, it will not be a good thing that they are further exposed to hackers or people that will have access to their personal data. This time is trying enough than have additional problems to deal with as a result of data breaches as a result of glitches on the lender’s website.

Online Title Loans From TFC

TFC Title Loans is a title loan company serving major cities in the United States. We understand the business terrain of providing accessible and reasonable loans to our clients at very competitive interest rates. Offering car equity loans near me from the comfort of your house by applying online.

What sets us apart from other lenders is that we are here to listen to our clients and we are ready to work in their best interest. As a result of this, our loan application is entirely online and open 24/7 to ensure that we are easily accessible to our numerous clients and prospective clients during this Covid-19 period.

We understand the times we are in and our loan experts are on ground to provide you with professional recommendations when you apply for a title loan with us. Once you submit your loan application online, we will treat it and get across to you almost immediately. We do not delay in approving applications and disbursing funds.

Secure Online Loan Application Platform

Our online loan application portal is safe, secured, and encrypted to ensure that your personal data are safe and not leaked to the public domain. It is easy and fast to complete your application online without any need to leave the comfort of your home or office. 

What do I Need to Apply for my Title Loans?

To apply for a title loan at TFC, you will need the following;

  • Age declaration to show that you are at least 18 years old or more.
  • A vehicle title that is lien-free and also in the name of the borrower.
  • Proof of residence
  • A means of identification, most preferably a government ID.
  • Car insurance
  • Proof to show that you are employed, this could be a payslip

The amount of money you can get when you apply for a car title loan at TFC depends on the equity in your car. You can get as much as 50% of the equity in your car and you can even get more, depending on our evaluation of your application.

How Much Cash Can i Get?

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