Personal Loans Reviews
Getting accurate personal loans reviews can be hard, because not many people go online to rate them. Also, they are not the easiest things to receive if you have bad credit, so most reviews tend to be negative, from people that get rejected when they apply. A personal loans is a type of unsecured debt, meaning that there is no collateral behind it, and the lender is offering the cash based solely on your promise to repay. In these recent financial times it’s getting harder and harder to get money on your word, and harder to get timely personal loans reviews.
Personal Loans Reviews: The Top Places
Citi Financial is the first on the chopping block because they’re the first result when you search for personal loan. They have a list of requirements that include no bankruptcies, an established credit history, and a way to pay the debt back such as a job or other source of income. They say you also need to be using the money for things related to the home, personal, or family use. This means that you can’t use the money to bail yourself out of a failing business. Personal Loans Reviews sees that owning your home seems to be an asset in their eyes, and they offer a wide range of loan amounts. You can get $300 to more than $15,000 if you qualify and if you show the ability to repay it. According to them you might have your money as soon as tomorrow, but Personal Loans Reviews feels that this is only for the most well-qualified applicants.
America One Unsecured is the next company that shows up in the search results. They claim to be able to loan up to a whopping $250,000 in unsecured money. This leads Personal Loans Reviews to be rather skeptical. Anyone that would need that much money in unsecured loans should have adequate assets to back a regular loan. Unlike the previous lender, they allow you to use the funds for any purpose. They allow you to repay the loan over time, anywhere from 6 months to 7 years. Just in case you were wondering, if you took out a $250,000 loan and made 84 monthly payments on it for the maximum 7 years your monthly payments on the principal alone would be nearly $3,000. God help the person that needs that much money, and can afford the payments. They’re doing a whole lot of things right and wrong at the same time.
The last personal loans reviews we’ll do is the fourth search result. It’s for Wells Fargo. They are offering personal loans as a way to pay off large expenses or pay down debt. Personal Loans Reviews always finds it ironic when a bank advertises that you should pay down your debt with a loan. As if a loan isn’t more debt. The best way to pay down debt is to make more money, and use it to knock out your debt. Taking out a lower interest loan to pay down higher interest loans only makes sense only to the nonsensical. It’s the type of thinking that probably got you into the mess, it’s akin to robbing Peter to pay Paul. Never let a traditional bank give you financial advice. Personal Loans Reviews recommends avoiding these types of institutions if you can. They won’t accept you if you’re a credit risk, and if they do accept you, they won’t give you a competitive rate or terms, because they’re just too big to stay competitive.
Personal Loans Reviews: Never Be Happy About Consumer Debt
Payday loans basically act as a personal loans reviews. There’s no collateral involved, and you simply sign the application and leave with the cash. You pay a hefty price in fees and interest, but it can come in handy in a jam. While personal loans reviews doesn’t recommend them, they can be a last resort.
If you’ve had a good or a bad experience and have specific personal loans reviews, please share it with the rest of us so we can all benefit from the information. Also, if you have any questions about personal loans reviews you’ve found here, either one of our staff or another visitor will answer it the same day. You can also feel free to sound off on the financial industry itself, and say whether you feel personal loans are a good or bad thing. This will help provide a well-balanced discussion on personal loans reviews.