If you weren’t as versed about the personal loans for bad credit market as I was, you might think that they just don’t exist anymore. You’d see names that were around before the loan industry essentially moved online, but you would see all these other new sites, too. You might apply with one of the sites, and then all the sudden you get thrown off because the site says it’s matching you with a lender.
Next thing you know, a new site pulls up, and you have to reenter your information all over again. Wait a second! Wasn’t this supposed to be a simple and easy application? That should be a red flag right there. If you go ahead and fill out your information over again, that doesn’t mean that you’re going to get a loan. Trust me, I’ve been there and have done that, and I was even more frustrated afterward.
What would you do if you give out your personal information twice only to find out that you have no loan offers? You might or might not recognize some of the spam emails you get as possible loan companies, but there are all kinds of people fraudulently using those loan company names as well. Then come the phone calls where you’re talking to people with foreign accents who don’t necessarily give a company name and start asking questions in an unprofessional manner.
I’m not joking folks. You have to watch yourself out there because it’s not easy navigating the online loan market, specifically when you have bad credit. It used to be, but at the same time, people didn’t have as many options then. I can pinpoint a time a few years ago when the sharks hadn’t infested the waters when it comes to personal loans for bad credit. The companies would still charge you high interest, but at least the companies mostly stood alone.
In other words, you weren’t having to realize that there were sites out there that were going to try every trick in the book to fool you. That’s what it amounts to these days, and smart consumers with bad credit who are in dire need of a loan are looking elsewhere. That’s hard to do when you need the money that badly, but what choice do they have?
Whoever is responsible for allowing this to happen needs to do something. I’m sure the loan companies are frustrated because they are having to compete with thieves. I know I would be if I were them. Consumers are obviously frustrated, and if you’re not familiar with what I’ve been saying, just wait until you try to find a loan company.
Knowing what I know now, I could find a loan company without being duped. However, it’s just not the same market anymore, and it’s very disturbing. Don’t believe everything you see, and be certain that you’re applying directly with a company before you begin the process. If you have to, call them first to find out.