I am going to apply for a unsecured personal loan online. I have about six sites that I am going to pick from to nail it down to just one. My question is what should I look for to pick the best site? I know I should go with a low interest rate but what are other things should I find out before I apply? How can I find out if the site is not a scam or hiding something that I might not know to check out before I apply?
What Should I Look For When Applying Online For A Unsecured Personal Loan?
February 28th, 2010 by Home Loans Leave a reply »Posted in Home Mortgage Loans ?
Tags: Applying Loan Look Online Personal Should Unsecured What When
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It is 100% scam if they ask for a processing / application fee upfront.
This is how this works:
You pay the fee.
Then they tell you that you have not been approved for the loan due to your score.
They keep the fee.
- So easy to scam people.
Before doing business with any online company, google the name of the company followed by the words: scam, rip-off, complaint.
Every company will have complaints, but read all info and look for scamed victims.
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Some of the answers say that you can get scammed online. And, they are right. However, there are legitimate online lenders such as lendingclub.com and prosper.com.
If you are going to go online (you didn’t actually say if it was an online bank or an online peer to peer lending organization like the lendingclub or prosper), make sure you thoroughly check out these organizations.
I am a lender on prosper.com and it is a legitimate site.
One thing about these online lenders: the interest rates that they charge are usually 2 to 3 percent higher than a regular bank or credit union.
If I were you, I would look locally first at your local credit union. If that doesn’t work, go online, but make sure you are dealing with a legitimate lender. Check them out through online forums before giving anyone any personal information. Or, you can get scammed.
First off, you are “scam bait” if you are doing this online. That is about the most foolish thing you can do. If you are not going to a traditional lender, you are begging for trouble.
there is no such thing, every single online loan company is a scam. If they dont have an office that you can visit its a scam