Internet's first get-out-of-debt community - 123,000 members

esosikes12 · Posted: Tue Jul 24, 2007 11:20 am Subject: Bad Credit Loan

Hi:

I need some information if someone could help me. I've been offered a $5,000 with a monthly payment of 189.99/monthly. My credit is very bad with accounts that are on delinquency. I'm trying to get a loan to bring my accounts to a current balance. This company offering me the loan is called Enterprises Financial. The company is asking me for 700.00 to secure the loan with a lowest rate of 7%, which I find too low due to my credit condition. The lady assisting me told me that after I pay the 700.00 I don't have to pay anything else and the loan can be approved between 24 - 48 hrs. After 30 days of the loan been approved, I'll get my 700.00 back. I need to know how true this is and if this will be something reliable. Any guidance will be greatly appreciated. Thanks in advance.

Posted: Tue Jul 24, 2007 11:40 am Subject:

Don't..I repeat..DO NOT do this. You should never, ever have to pay ANYTHING up front to get a loan. Let me guess, they want you to Western Union the money, right? This board is full of people who have been scammed by "loans" like this. This is disgusting and unethical. Please do a BBB check before you use the services of any company.

esosikes12 · Posted: Tue Jul 24, 2007 11:48 am Subject: Bad Credit Loan

Thanks for your reply. I didn't think so and that's what I told the lady. I'm seeking for a loan badly, but because my credit is messed up I can't get any. I almost fall into that trap. I also have some online payday loans that I'm dealing with and it's insane. All my credit cards on delinquency. The good this is that I was able to settle one and the other ones, I got into a payment plan with my creditors. But there is one that has a balance of 7400 that already had issued a summons against me. I did answer it and I have to go to court next Monday. I hope they can accept what I'm offering them, if not they will garnisheed my pay check. I don't know what to do. I was hoping to find a loan to be able to bring some account to current and some pay them off. Sad

Posted: Tue Jul 24, 2007 12:19 pm Subject:

Well, you can always try Prosper.com. With your credit rating though, it is unrealistic to think you will fund for $5000 there. Maybe for half that amount with an honest group leader. I have tried it with decent results. Not a fast way to get money either...it takes about 2 weeks to a month for the process. But it isn't a scam and they don't ask for money upfront.

Posted: Tue Jul 24, 2007 12:32 pm Subject:

esosikes - Finsfan is exactly right on this - what you have encountered is called an Advance Fee Loan Scam. They are all over the internet right now, and unfortunately, many people actually DO fall for them, and lose quite a bit of money - without gaining anything.

I'm so glad you found our site and received some advice against this scam - please be sure to tell anyone else you know who may be looking at one of these loan scams - make sure no one else falls for it!

esosikes79 · Posted: Thu Jul 26, 2007 11:59 am Subject: Bad Credit Loan

Thanks for your help. With prosper I was trying to get a 2500 loan. I placed 5 listing and nothing happened. I'm about to hang myself Sad

Posted: Thu Jul 26, 2007 12:40 pm Subject:

Eso, could you email me a link to your listing? My email addy is my forum name @yahoo.com. My private messaging is screwed up. Maybe I can point you to a good group and see what's in the actual listing itself. I got mine done in 3 listings with some tweeking...definitely a learning process!

Posted: Thu Jul 26, 2007 4:02 pm Subject:

I applied with prosper and it took less than a week to get my money. I was only asking for $1000.00 though, but I do live in a rate capped state. I joined a good group and the leader told me how to list it. Just be honest

Posted: Tue Jul 31, 2007 7:41 pm Subject: personalloans

I would just like to say hello to everyone. I found this site because I am like you and have ALOT of debt. But the debt isn't even that bad if I could get rid of the pd loans I have out. Currently, about 3,000 total estimated. I don't know my balance but they take payments every payday and it leaves me with pretty much nothing to work with to put towards the rest of my debt, ie car payments, student loans, insurance and behind bills. Not to mention rent. I have checked into three places that require a payment. The first one was loanspad.com, and I fell for it. Sent them 350 that I borrowed from a storefront pdl and they recieved it then, told me It wasn't ENOUGH! GRRR! Now I can't even get ahold of them as their numbers both local and toll free are out of service. I looked them up on the bbb and found a mortgage company at their mailing address. The current one I am talking to requires a refundable deposit or a co-signer. Has anyone heard of them-Dual Financial Service.

Thanks,
Chris K

Posted: Tue Jul 31, 2007 8:04 pm Subject:

I also, tried prosper.com but, was told my score was too low. Can anyone help me with them?

Chris K.

Posted: Wed Aug 01, 2007 4:08 am Subject:

I would think any loan company that requires money down is a company to stay away from.

Posted: Wed Aug 01, 2007 6:42 am Subject:

You could ask a family member to take out a loan on your behalf. The contract would still be between the family member and the Prosper lenders, but you can still make the payments.

esosikes12 · Posted: Wed Aug 01, 2007 11:53 am Subject: Bad Credit Loan

Thanks for the advice. I just don't want to go there Sad

Posted: Thu Aug 02, 2007 4:19 pm Subject: Dual Financial Institute

Yeah, but they gave me two options, pay a refundable deposit or a co-signer. Unfortunately their criteria for the co-signer is too high for anyone I had in mind and I am very leary about sending them any money. Did that once with loanspad.com and I cannot get ahold of anyone now. Also, Dual Financial Institute must not have a website and I cannot find them on the bbb website. And with Prosper, they told me my score was below 520 but, I just checked it yesterday and it is higher than that. On another note I have started battle with the payday loan people by stopping the ach authorization at my financial institute. I sent an e-mail to gfs and recieved a call telling me they do not except anything other than ach. Well, thats their problem. I swear they have got to be a scam because I only borrowed 250 from them and started payments in febuary. I should be paid up but, they don't give you the balance unless you call them. I hardly have the time. I would like to go through Prosper but, they won't let bid for 30 days now. Is there a group I could join that might help and if so how do I go about joining? I do not have family that can do anything for me.

Thanks,
Chris K.

Posted: Thu Aug 02, 2007 4:24 pm Subject:

I am not a fan of taking out a loan to pay back money- it kept me stuck in that viscious cycle. Have you thought about consolidating your debt? There are other ways to get your debt paid, other than taking out a loan. Good Luck-Keep us posted..KAren

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