I am having problems getting a loan as am a ex-bankrupt a few years back, i got a letter from ADVANTAGE LOANS, they seek £49.50 to get a approved loan within 3 to 5 days, i did this last year and in return it was a waste of time and dont want to be conned again, is it a CON.
2007-12-04 02:17:44 · 13 answers · asked by GRANT B 1 in Business & Finance ➔ Personal Finance
Since it's obvious you can't manage your own finances, you are an attractive 'target' for con-merchants and scam artists.
They figure that since you are going to squander / waste what little money you have, they might as well be on the receiving end whilst you still have some ..
... (you note they want money up front ? instead of adding their charges to the loan or charging extra interest ? = that's because they know you may never pay back the loan and they may never get their hands on anything).
To be honest, it will easier for you to curb your spending than to get a loan - any loan you do get will be massive high charges / interest and soon put you back on the road to bankruptcy ..
2007-12-04 02:28:09 · answer #1 · answered by Steve B 7 · 1⤊ 0⤋
Thanks to the 'Iron Lady' - ( don't know where the Lady bit came in) - I went through redundancy, arrears, loans to pay off arrears and finally house re-possession.
This taught me just how much money companies make out of the misery of others - eg; my house was bought for £12.000 - when I got a sort of settling bill from the building society after re-possesion- it showed that over the 12 years I'd lived there I had paid back £30 odd grand - then came their list of charges and a final demand of £13 grand. - They did not get it - but that's another story.
Since that time I have been a regular saver (even now as a pensioner) and when I see something I want or need - I check my bank balance and either buy it - or wait till I have the funds to buy it.
It isn't easy getting to this position and you have to make a lot of sacrifices on the way but I can assure you that in the end it is well worth it.
Final word: Spend what you have got - not what you haven't !!
2007-12-04 04:30:39 · answer #2 · answered by John W 3 · 0⤊ 0⤋
Yes don't send any money in to get approved for a loan. I would suggest that you shop around some more and take a look at the site I listed below. It is a great resource for unsecured loans and loan sources.
2007-12-08 02:01:13 · answer #3 · answered by Helpful In Colorado 1 · 0⤊ 0⤋
have you ever tried payday loans? The only thing is you'll be due on your paydays-every payday! and the interest might be kinda high. They dont go by credit checks only if you have an active checking account, a checkbook, bankstatement, and check stub. some payday loan co. might need more info like driver's license or social security card and mail verification. Just a thought I used to work for a payday loan company.
2007-12-04 02:45:50 · answer #4 · answered by ???? 2 · 0⤊ 0⤋
undesirable credit is a especially sturdy indication that a individual could no longer take out a private loan. businesses that provide "certain" credit do so with the expectancy that the extreme-probability borrower will fail. even as this occurs they could price extreme charges and consequences. no longer in basic terms is this expensive, even though it may better wreck your credit. also note that putting out new credit brings down your FICO score.
2016-10-25 10:34:37 · answer #5 · answered by Anonymous · 0⤊ 0⤋
well it depends on what u need the loan for but i believe such loan can be offered for by those giving unsecured loans, maybe u can contact them on (eric_loan_001@yahoo.com) and when requesting for a loan from individual lenders u have to make sure they in the united states.
2007-12-05 13:39:47 · answer #6 · answered by crag m 1 · 0⤊ 0⤋
Sounds to me like you need a budget instead of a loan.
Get your finances straight and make your savings account the first bill you pay. Keep it simple don't spend more than you make. If you want to buy something save up to buy it cash.
2007-12-04 02:48:21 · answer #7 · answered by Greg S 5 · 0⤊ 0⤋
NEVER PAY MONEY TO GET A LOAN!
Try Welcome Finance or Provident; their interest rates are exhorbitent but they have a long track record of helping people with less-than-perfect credit.
2007-12-05 09:42:56 · answer #8 · answered by Anonymous · 0⤊ 0⤋
OMG def a con, never pay for a service until you receive what they are saying they can provide.
2007-12-04 02:52:09 · answer #9 · answered by leambi 5 · 0⤊ 0⤋
definately a con.and i'm pretty sure nobody will give you a loan with your credit rating so your out of luck i'm afraid.
2007-12-04 02:33:57 · answer #10 · answered by Anonymous · 1⤊ 0⤋