5 tips on how to find safe online loans
There are hundreds of stories of people who have gotten scammed by predatory online lenders. These “lenders” write contracts and make deals that set a customer up for failure. After it’s all said and done, the customer usually has a debt he or she can’t repay without taking out another loan. The cycle usually repeats itself until the customer is overwhelmed with debt. It’s a situation that happens more than most people want to admit.
Despite all the horror stories the news and the media portray, there are many reputable lenders that provide safe online loans.
Here are just a few tips to help you sort the good lenders from the bad:
1). Read reviews.
Google and Bing are a great place to start. Type in the name of the company you’re interested in applying with and see what other customers are saying about their experience. An unhappy customer usually has no reason to lie.
2). Use a third party company.
Big name lenders usually have good design and good marketing techniques. They lure customers in by using those marketing tactics to their advantage. Big name lenders aren’t necessarily bad lenders—they’re just expensive. If you want to save yourself some money, use a third party matching site, like Green Leaf Loan Group, that uses their own direct lenders that have been verified as providing safe online loans. These third party companies have highly specialized software that enables them to match a customer with a direct lender in their network that can fulfill your financial request at the cheapest rate. Third party companies have already weeded out the bad lenders for their customers. Using a third party company like GreenLeafLoanGroup.com is a one-step method to finding a safe online loan.
3). Know where you stand.
All safe online loan lenders want what’s best for you. No reputable lender will allow you to take out a loan you can’t repay. If a lender offers you a $4000 loan due back in a month when you only make $2000 a month, that lender obviously isn’t doing you any favors. Safe online loan lenders will only allow you to take out a manageable amount of money. Don’t get too absorbed on how large of a loan you can get—if you do, you might make a bad lending decision.
4). Use an encrypted website.
Any website’s application page that isn’t protected with encrypted software should cause concern. Safe online loan applications are usually processed online. If a website is easy to hack into, your personal information could be compromised. If a lender isn’t concerned about your private information, they probably aren’t concerned with your well being. Most safe online loans lenders will happily advertise the safety of their site. If you can’t find a clickable safety seal on a website, it probably means the site isn’t encrypted. Avoid applying with that lender/lenders. Green Leaf Loan Group uses 256 bit encryption verified by GoDaddy.com.
5). Trust your instincts.
If something doesn’t feel right, it probably isn’t. All safe online loan lenders will answer any questions you may have without hesitation. If you aren’t getting a question answered, or if something sounds too good to be true, there might be a problem. Is customer service friendly? Is the lender upfront about fees and APR? Did the lender discuss the consequences if a loan isn’t paid back on time? Ask a lot of questions—your finances are on the line. With third party matching sites, like Green Leaf Loan Group, you must apply first and be matched with a lender where you’ll then be given the lenders phone number and you can then ask all the questions that are important to you.
There are plenty of safe online loans available
There are plenty of safe online loans available to all types of people. Bad credit and no credit should never stop a customer from receiving quality financial care. If you follow these simple steps you could be on your way to a great safe online loan at a great price.