Has anyone ever dealt with someone named richards_loan_agency?

Question

A friend of mine is trying to deal with him for a personal loan and I'm afraid she's going to get ripped off somehow...anybody ever heard of that or dealt with them??

Answer 1

Never heard of them. I looked on the web and found a couple of hits. All were ads. I looked at one at it had a yahoo account as the email provider. I would never do a loan with a company that has an @yahoo suffix to their email.

There has to be someone local who could give your friend a loan. If no one will give her a loan but this fella then raise your shields and go to red alert. Your friend may have really busted up credit and that is when the scavengers come in.

Three possible scenarios.

I. this guy will require a fee or payment to "process" the loan. Then disappear once the money is sent.

2. Hit your friend with a payment plan that sounds cheap and easy but is really something that will lock her into a paying a lot more than she borrowed. Like saying your $5000 loan will only cost you $230 a month. What they don't say is that is over 5 years which would come to paying $13,800 for a $5000 loan. This type of loan scam will also have all sorts of stiff fees and penalties to trap the borrower into the loan for the full term.

3. Good old fashioned identity theft.

It could be a mixture of all of the above too. I would say, avoid this guy. If she has to use him, then have a calculator ready and add up the payments to make sure they aren't scamming. Make sure you know the length of the loan, the interest amount, the API, and the amount of the loan. Get a schedule of all fees in writing. DO NOT SIGN RIGHT AWAY!!! Take the paperwork and read over it. It might be worth $100 to pay an attorney to go over and it and tell you what evils are lurking in that paper. Beware, they may try to get you to sign up right away and give you no chance to read over the agreement. Start with not trusting the guy at all. Be skeptical of everything he says.

Answer 2

Sounds like the place where Joan Rivers was born -- Joe's Hospital and Grill! Seriously, MOST loan businesses are ripoffs -- especially those short-term "payday loan" outfits. Try to come up with an alternative, depending on the circumstances -- postpone the need, etc.

Answer 3

Sounds like Bob's Dentist and Transmission Repair. Might be legit, could be a mobster. But I would trust a Mobster over the current US Regime. who knows.
If a Loan Agency is not Federally Insured, or listed with BBB or Bonded itself, run away, fast.

Answer 4

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