Does anyone know about noworrycredit .com. They say you can receive credit and money with no credit check.?

Question

Is is a scam or what?

Answer 1

I am in the lending business and I can tell you a few things about this company based on what little information is available about them. 1st: Try putting noworrycredit.com and scam into a search engine and you'll see many hits that actually say "noworrycredit.com scams.

This was the first red flag for me.

2nd: They fall into the catgory of "hard money lender". This means that to qualify for a loan from them you basically only need to have a checking account and a pulse. Anyone who lends regardless of credit history and without even checking a credit report is taking a HUGE risk. YOU pay for this in OUTRAGEOUS interest rates and fees.

Borrowers bear some responsibility for their bad credit decisions, but the flip side of irresponsible borrowing is irresponsible lending. "Bad Credit OK" says that we can afford that house, that car, that big screen TV. We know we can’t afford it, but a lender is telling us we can, and that’s hard to resist. The problems with irresponsible lending go far beyond higher interest rates and higher fees, and extend to inflated selling prices and inaccurate loan documents.

In the end, “Bad Credit OK” is little more than a statement that you’ll be paying more for less.

I'm not sure what you're circumstances are that you wish to obtain this money but if it's not absolute necessity, I'd advise you to steer clear of ANY lender that advertises "no credit check" or "bad credit OK" because ultimately, after all is said and done you'll end up paying back 10-20 times as much as you borrowed.

Answer 2

It sounds to good to be true. If you are looking for credit then a small loan of one department store credit card. With these two items you have to make sure you pay every cent on time every month. Capitol one offers a credit to people that do not have credit. Going to a credit union to get a small loan can help too. Do research in whatever you choose. Don;t jump because it is your future you are managing.

Answer 3

As a former Credit Manager, I suspect this is fraudulent and only searching BBB, attorney general's office etc can you tell....More importantly, do not give any personal info about yourself and if they are charging money, ask for social sec. no or credit card nos., believe me it is most likely a scam and could cause a lot of problems once they get their hands onto your specifics.i.e. BE CAREFUL. no one gives credit initially with no credit check...

Answer 4

my guess it would be a scam or if they actually did loan you money they would do so at a very high rate or fee.

Answer 5

they will ask for your checking account and pull your payments directly from your account and any times at anytime. It is a ticking timebomb waiting to go off