Is it just me, or is any place that lends money and has the word "financial" in its name a really bad place to get a loan? It's something I've noticed. If they're called "Acme financial" etc, do they tend to give loans that aren't at a very good rate? Or they cater to people with poor credit? Is this true? Or have I just been seeing something that isn't there? If it is true, what is the reason? Is there a law or something that requires it? Just wondering. Thanks.
2007-08-31 18:56:41 · 3 answers · asked by blooming chamomile 6 in Business & Finance ➔ Credit
"Financial" is a good word for a business to use in it's name if it is related to financial services. It's not an indicator of legitimacy, however. Anyone can start a business and call it anything they want, and anyone can get a free email address with whatever name they choose. When dealing with your finances, it is best to check out the company individually, with the better business bureau, the department of state for the city in which they are incorporated, and search the web for any references, good or bad, regarding that company. For the most part, companies that use spam email or post on Answers in violation of community guidelines are already willing to break rules, so that's already one strike against them.
2007-09-01 04:34:23 · answer #1 · answered by Piggiepants 7 · 1⤊ 0⤋
I would say... what u see it true... from my point of view..
Financial.. signifies that it is a institution...
and yes, I think they do cater to people w/ bad credit... they are the ones, as a rule who are desperate enough to take anything, they are willing to do... just as long as they get the loan..
I don't think there is a law about the name.. it just helps when someone is looking to borrow money..
in the yellow pages or whatever.
Yes, I think u are correct about the higher interest rate.
2007-08-31 19:45:06 · answer #2 · answered by ♥ Blondie ♥ 7 · 1⤊ 0⤋
No, check out each company individually.
2007-08-31 23:37:28 · answer #3 · answered by DrIG 7 · 1⤊ 0⤋