Sometimes you want the cheapest product out there for you, other times, you want the best product. If you were looking for a car, you would not necessarily want the cheapest out there, it might not be as safe as you want it to be. The same thing can be said for consumer loans, cheapest is not always the best for you.
You want to look for many things when you do research for a loan, especially on the internet. When you do a Søk billigste forbrukslån, or search for the cheapest consumer loan, you might get some sites that just want to scam you for your banking information and any other information that they can get. You must be careful and look only for reputable lenders when you are doing your search.
You really want to do great research when looking for a good lender for a consumer loan. You need to check the Better Business Bureau, your state’s attorney general site, and check all the online reviews to see what other people are saying. If you cannot find any information, or if all the information is bad, then stay away from them. You want at least three stars, and it is even better if you can find one that has five stars.
Listed below are some of the ways that you can check to make sure that online lender is a good one. Again, you can also do your own research and go from there. There are almost always clues to tell you online if the lender is legitimate.
Check The Better Business Bureau
You can go online to the Better Business Bureau database to see if the lending company that you are researching is on there. If they have any complaints against them, it will show up in the database. You might have to do a little bit of deep searching to find it. If they are listed with the Better Business Bureau, you can tell what kind of rating the lender has.
Check Your State’s Attorney General
Every state in the United States has a state attorney general, and they almost always have a website that you can check to see if they have their own database of companies to watch out for. They should have a place that you can put in the name of the lender and find out if there are any complaints about the company in that state: https://www.marylandattorneygeneral.gov/, is one attorney general office that you can check. You might want to check other nearby states to see if there are any complaints there, as well.
You can always look up the lender and see what type of reviews that they have. Most people are pretty honest when it comes to leaving reviews because they can remain anonymous if they so choose. The online reviews will let you know if you can trust the lender or not. You can also find out more information from these reviews, such as how they treat their customers.
Does the Physical Address Match
You need to make sure that the corporate address and contact information matches across the internet. If it has one corporate address in one site, and a completely different corporate address at another site, it could be a scam. Keep in mind that the lender could have many sites that have different addresses in different cities, but the corporate address and contact information should be the same for all of them.
How to Spot a Scam
There are a few ways that you can spot a scam lender on the internet. First of all, you might find different names for the same company at the same address over a period of time. You might also see that they have not been in business very long, which is another giveaway. If they tell you that there will be no credit checks, it could also be a scam – especially if it is any loan other than a payday loan. Payday loans do not often ask for credit checks, but you must be careful with them, as well.
If the lender is not registered in your state, that is another tell-tale sign. If they do not have a license in your state, they are not allowed to do business in your state. This means if they are promising you a loan, it is definitely a scam. If they are a scam, they will also want you to “act fast” or “act now” to get the special offer they are trying to get you to take. They want you to give out your information without thinking too much about it, and by the time you have figured out that they are a scam, they already have all your personal information.
If you follow all the tips above, you should be able to find a legitimate lender and not one that is just the cheapest around. You should be able to trust many of the online lenders if you have done your research to see if they are real or not. You just have to be very careful and not trust everyone online just because they are offering what you need. Some people get desperate when they are looking for online loans, and they fail to check carefully. Remember, if it sounds too good to be true, it probably is.
