As the internet continues to grow and dominate our way of life, so do the odds that you get involved with a personal loan scam. There are countless scammers out there who are hoping to capitalize on unsuspecting individuals looking to apply for a loan online. While easily identifying scams can be easier said than done, there are some warning signs that are usually indicative of a phony lender. Learn how to spot suspicious lenders before you get involved in a scam that could end up causing serious damage to you and your credit rating.

Credit Check Is a Must

Often, scammers will advertise that their loan application process doesn’t involve a credit check, hoping to appeal to individuals who have low credit scores. You ought to know that a legitimate lender will always do a credit check before taking approving a loan or taking any further steps beyond the application. Your credit score indicates how responsible of a consumer you are, and will let the lender know if you can be trusted to repay the loan in a timely manner. Don’t fall for advertisements that claim credit checks aren’t required, as it’s most likely a scam.

Sift Out the Spam

If lenders are reaching out to you via phone unsolicited, you shouldn’t pay them much attention. Spammers can send out millions of calls to people all over the world, just waiting for someone to take their bait. Who you work with throughout the loan application process should be up to you, so never respond to calls or emails from so-called lenders unless you recognize the name and know they can be trusted.

Be Wary of Up-Front Fees

A major indicator of whether a lender is legitimate or not, has to do with asking for up-front fees. Almost all legitimate lenders will not ask for any up-front fees, unless you’re applying for a commercial loan or have 3rd party fees that must be paid such as an appraisal on a mortgage loan. Scammers will prey on those who fail to catch on to their scheme and continue to ask for fees without providing any sort of service. If you’re asked to pay a fee up-front for your personal loan, your best bet is to take your business elsewhere. Remember these tips when searching for the best online personal loan.

No comments yet

“I’m short of money and still have two days till payday!”
Sounds familiar, right? We all go through rough patches dealing with everyday expenses in a hectic life.
A payday loan may be an enormous help during financial hardships. So instead of pulling out your hair, consider applying for a payday loan with a fast and easy form that only takes a few minutes to complete at Getmoney.com.

Payday loans (also called a payday advance, salary loan, or a cash advance) is a small short term loan based on your next expected paycheck. Despite the name, a payday loan may be granted regardless of whether repayment is linked to the borrower’s paycheck or not.
Usually, a payday loan is expected to be paid off within a few days, but it could be for up to 30 days. Payday loans are generally favored because they provide access to quick cash without the usual hurdles of a traditional personal loan.

To qualify for a payday loan, the borrower must present his or her payroll and sometimes employment records. With the increasing access to the internet, companies like GetMoney.com are getting more and more focused on their online services. The focus is on enabling borrowers to request a loan in just a few minutes on their mobile phones and desktop PCs.

What are the advantages of a payday loan?

1. FAST AND EASY PROCESS

One of the significant advantages of a payday loan is how quick the process is. There is no background check, usually no credit history review and virtually no paperwork. Just complete the online form, and you may be approved in as quick as a few minutes.

2. FAST FUNDING

After submitting the request, you could have your cash within one working day. No need to stand in long lines and wait a week for the approval process.

3. GOOD CREDIT ISN’T REQUIRED

The single most valuable advantage of a payday loan is that a payday loan may be approved regardless of your financial history.

4. NO COLLATERAL REQUIRED

Contrary to the commonly sought after secured loans, a payday loan won’t put your property in danger if you fail to pay it back in time. Lenders generally ask for a post-dated check to secure their investment.

A payday loan may seem like the perfect remedy for your financial wounds, but it’s just like every other loan, and it has a few disadvantages that you must weigh before making a decision.

– Higher interest rates

Due to the nature of payday loans plus being unsecured and granted regardless of credit history, the lenders will charge a higher interest rate to justify the risks

– May affect credit

If you fail to pay your debt, the lender may sell your payday debt to a third-party debt collector and report you to a collection agency. The negative report will hurt your credit.

– Not a long-term solution

A payday loan is only a short term solution for emergency situations. Please don’t make irrational financial decisions that will land you in a worse position than your current state.

No comments yet

What is a secured personal loan

A secured personal loan is a loan that is guaranteed by an asset. The asset is usually collateral whose value determines the loan amount and the terms of the loan (interest rate, fees, amortization period, etc.).
The more common types of secured loans are home loans, home equity lines of credit, and auto loans.
A secured personal loan lender could use anything from personal belongings such as your gold watch to more significant assets such as your house as collateral.
Secured loan lenders are exposed to a much lower default risk than lenders offering unsecured personal loans. If the borrower defaults and or falls behind on a secured loan, the lender will foreclose or repossess the collateral.

What happens if you default on on unsecured loan?

If a borrower of an unsecured loan fails to make payments, the lender will have to take a hit. This explains the higher interest rates and lower loan amounts with unsecured personal loans.

An unsecured personal loan can come in many forms, and it doesn’t have to be in cash in your bank account as offered by the personal loan lenders on Getmoney.com. For example, even your credit card is an unsecured loan.

Different forms of unsecured loans

Unsecured credit cards are offered based on your income, credit history, and employment history. If you don’t or can’t repay your credit card debt, their options are limited. They can report you to the credit agencies and make it more difficult for you to obtain financing in the future. But they don’t knock on your door asking for the sofa or the shoes you purchased.

Another form of an unsecured personal loan is a debt consolidation loan. A lender will review your credit, payment history, and debt to see if a new loan will put you the borrower in a better financial position. If yes, they will offer a debt consolidation loan. The theory behind this is that if a borrower’s overall monthly payments are lowered, the borrower will continue to make good on their obligations.

The major advantages of a debt consolidation loan to the borrower are lower payments and freed-up credit. The freed-up credit and higher available revolving credit generally tends to improve your credit score too.

No comments yet

A personal loan can be a great tool for consolidating multiple small debts into one loan, cash for starting or expanding a business, and for overcoming difficult financial situations. Before requesting a personal loan, you have to consider the following:

1. Do you really need a personal loan?

Think about the reasons you’re requesting a personal loan. If you are getting a new loan to pay off smaller loans, or for an emergency, it could be considered a good idea. But, if you are getting a loan to satisfy a spontaneous urge to buy a new toy, you’d better think twice.
Personal loans are generally good for emergencies, home improvement, auto repair, unexpected bills and sometimes vacations. Before requesting a loan, be sure you can afford the payments to avoid making a bad situation worse.
Once you are ready to request a loan, visit the Getmoney.com personal loans page and get started.

2. Do I have all  the necessary documents?

Online personal loans and unsecured personal loans and payday loans are not document-intensive. We suggest you request a loan on and if the lenders need something, they’ll ask for it.

3. Where should I request the best personal loans online?

Many institutions such as banks, online personal loan lenders, credit unions, etc. offer personal loans.
Banks and traditional lenders offer the best interest rates, but they are time-consuming and document-intensive. Which makes traditional personal loan providers a difficult choice.
Online personal loans are the easiest and least time-consuming option available. We recommend working with an established website that has been around for many years.

No comments yet

Most personal loans are unsecured loans. What this means for the lender is that the loan is not guaranteed by any type of collateral, but rather by the borrower’s credit score and promise to repay. For the borrower, this usually equates to a higher interest rate.

Is there a way to get low interest personal loans? Let’s look at some tips for getting the best rates on the best loans for your needs.

CHECK YOUR CREDIT FIRST

Your credit score is one of the most important elements in knowing what your best personal loan options are. Those with a “good” credit score of 690-719 or an ”excellent” score of 720 and above will have the best chance of receiving an unsecured loan. What’s more, these people will typically receive the best interest rates because creditors tend to view these borrowers as a more credit worthy borrower.

For those with a lower credit score, finding a lender to work with you can certainly be done. However, your interest rates are likely to increase due to the lower credit score. If you can wait a while before taking out your personal loan, consider doing what you can to boost your credit. This will pay off in your current and all future borrowing situations.

SHOP AROUND

We shop multiple stores looking for the best prices on our groceries, our home goods and more. Why wouldn’t you shop around for the best rates on personal loans? Check out what several local and national lenders have to offer you before committing to a lender. If you are applying online, apply on a website you can trust and recognize. Make sure the site is secured https:// vs http://

There are several major, national companies who offer personal unsecured loans. If you’re looking for a large chunk of money with no restrictions on usage, this is your best bet. GetMoney.com is an easy to access, user-friendly website that offers applicants without perfect credit the chance to get connected with creditors who can work within their limitations and provide personal loans based on a variety of factors. Credit score does matter, but it’s not the only way things are decided. Request a loan with us today to see what you qualify for. The money is out there; we’ll help you get your hands on it!

No comments yet

Whether you’re planning a big purchase or experiencing a financial emergency, it’s important to get the money you need as fast as possible. Using professional services to help you find brokers, financial service providers and lenders should be the first step toward securing a loan.

DIFFERENT TYPES OF FINANCIAL PRODUCTS INCLUDE:

• Personal Loans
• A Quick Unsecured Loan
• Payday Loans
• Installment Loans
• Business Loans
• Lines of Credit
• Equipment Financing
• Fixed Rate Mortgages
• Adjustable Rate Mortgages

PERSONAL LOANS COULD BE THE ANSWER:

• Easy Application Process
• Bad Credit may be approved
• Nearly Instant Approval
• A Personal Loan Can Be Used for Any Purpose
• Loan Amounts up to $25,000 and more

REQUESTING A LOAN IS EASY:

• Find & Choose The Loan That Is Right for You
• Complete a Secure Online Form
• Deliver Your Form With 1 Click
• Approved Borrowers Will Receive Cash In As Little As 1 Working Day

No comments yet

Payday loans and Cash advance loans provide fast cash for emergency situations.

What is a payday loans

Also known as cash advance loans are small loans based on the borrowers next paycheck. The loans can range anywhere from $100 to $1000.
Payday loans are highly regulated, and each state has its unique guidelines and requirements for maximum fees, rates, and loan amounts. Because of the cost usually associated with payday loans, some states have completely banned payday loans and made it illegal for any lender to advertise and or offer these loans.

Qualifying for payday loans and cash advances

Because payday loans are offered based on the next paycheck, the qualification guidelines are much simpler than traditional loans.
Cash advance loans and payday loans are viewed as low-risk loans by most people. However, there are risks associated with these loans that will affect your qualification.
A lender has to analyze credit history, occupation, outstanding payday loans, bad checks, and wage garnishments to determine qualification.

General Requirements

Payday loan lenders and cash advance providers are not credit score sensitive. All lenders require the borrower to be 18 years old with an active bank account, a pay stub, proof of employment, and a state or government-issued ID.

Things to Consider

Payday loans are a costly method of acquiring financing. Thus, before committing to a payday loan, make sure the expense for which you are securing funding for is urgent.
A payday loan or a merchant cash advance should be one of the last options to consider. Credit cards often have special promotional rates, which is a much more attractive alternative.
A personal loan can also be considered as an option. Be sure to review the interest rate and terms of the payday loan you are offered with the lender to make sure it’s the right choice for you.

How much does a payday loan cost

Payday loans and cash advance loans are considered high-cost loans. It’s not necessarily because of the interest rates they charge.
Instead, it could have a lot to do with the fees associated with these loans. For example, if you get a $200 payday loan, and they charge you a $50 processing fee, you are paying 25% just for processing. And that’s over a very short time; till your next payday.

No comments yet

For many who live paycheck to paycheck and struggle to pay their bills and past debts, taking out a personal loan is an ideal solution to remedy some of their financial woes. However, getting a loan involves a little more than just filling out a form and asking a lender for cash. In addition to other factors, the chances of your approval are dependent on your credit score. Keep reading to learn more about obtaining a personal loan and the credit score you need to do so.

Qualifying for a Personal Loan

Personal loans are offered by banks, credit unions, online lenders and peer-to-peer platforms. Each type has its own set of requirements, interest rates and loan terms. However, all lenders want to be assured that you will be able to pay back the money after borrowing it. This is the main point of the application. You can show your reliability by providing a reasonable credit score and proof of income. With a low credit score, you may be faced with paying a higher interest rate or risk not getting approved at all.

Understanding Your Credit Score

All lenders will review your credit score and credit history when looking over your personal loan application. Every lender has a minimum set of credit requirements, but if you have a low score, you may find it difficult to obtain a personal loan. Scores range from 300 to 850, where a higher number is preferable. Here’s how lenders usually view each score.

• 300-559 (no or poor credit): Scores in this range usually indicate a damaged credit history caused by defaulted loans or bankruptcy. Applicants with scores in this range are riskier, so loan approvals if approved are offered at a higher-interest rate.
• 580-669 (fair credit): This range also indicates some past issues with credit history, usually caused by loan defaults or late payments. You will still be able to find a personal loan, but the interest rate will likely be on the high side.
• 640-739 (good credit): If your score is in this range, you will be able to obtain a personal loan with a decent interest rate.
• 740-799 (very good credit): Scores in this range can open you up to your choice of lenders and qualify you for favorable interest rates.
• 800-850 (excellent credit): With excellent credit, you will have your pick of loans to choose from. You’ll also qualify for low-interest rates and be able to borrow larger amounts of money.

Other Factors Lenders Consider

Though your credit score is important, lenders look at a few other factors to get a better idea of your overall financial situation. If you excel in one of these other criteria, a lender may be willing to overlook a low credit score. Lenders will review your income, current debt, repayment history, and any collateral you have to offer.

How to Get a Personal Loan with Bad Credit

If you have a low credit score, it can seem like the odds are stacked against you. Though you will have a harder time qualifying for a personal loan, it’s not completely impossible. Start your search online to find the best personal loans for bad credit. Compare rates and terms from a few different online lenders so you can find the best one for you.

To learn more about getting a personal loan with bad credit, visit us at GetMoney.com.

No comments yet

There are situations that inevitably arise where the immediate need for money comes before payday. These situations may include a medical emergency, an overdue bill, or unexpected car trouble. The ability to quickly and easily receive a small loan quickly will allow you to pay this unexpected expense and repay the loan the next time you get paid. Here are four tips that will help you acquire fast payday loans.

1.  Accurately Report Income

Receiving a payday loan is typically pretty easy if you have a steady income from a permanent job. A lender will check your eligibility by ensuring that you can fulfill certain requirements before approving the loan. They’ll specifically want to know how much income you bring in each month. This will provide assurance for them that you will be able to pay back what you’ve borrowed. When providing this information, it’s important to be truthful and accurate.

2.  Know Your Credit Score

Your credit score is less important when applying for a payday loan vs. a larger personal loan; but the lender will still check your score. If you have a higher credit score, this will make it easier to qualify for a loan, as they will be assured of your credit sensitivity and ability to pay it back. However, some services, like GetMoney.com, will still find you a lender to offer even if you don’t have the best credit. Typically, a credit score around 800-900 is “excellent,” a score around 670-700 is “good,” and a score around 580-670 is considered “fair.” Any of these scores should put in a position to qualify for a loan. If you need to improve your credit score, paying down debt and keeping credit balances low will help.

3.  Submit Documentation on Time

When you apply for a loan, there are certain documentations that must be filled out before it can be approved. Lenders prefer borrowers that are easy to work with and provide assurance that they will pay back the money they borrow. Returning the completed required documentation on time will provide this assurance to the lender that you are easy to work with and will repay your loan during the expected period. This can greatly increase your chances of securing the loan, allowing you to pay what expenses are needed. When you receive the documentation, you should immediately check the dates that they should be completed and returned so that you know when you must have them finished.

4.  Request a Fraction of Your Monthly Income

When you request a loan, it’s important to consider how much income you will bring in during any given month. Most lenders will not approve you for a payday loan for more than the amount you earn monthly. The lower the figure you request, the more likely it is that it will be approved, as they will be assured that you’re able to pay it back. It’s recommended that you only ask for a fraction of your monthly income.

You never know when unexpected bills are going to come up. These tips will make it easier for you to obtain fast payday loans so that you can pay that expense and avoid any additional trouble. If you need a payday loan right away, request one through GetMoney.com online today! We welcome all credit types and your loan may be funded in as little as 1 business day.

No comments yet

GetMoney.com works with lenders and lending partners that work with borrowers of all credit types for Personal loans, Payday loans, Installment loans, Business Loans, and Working capital loans.

Getmoney.com does not charge fees for loan requests and you are never obligated to accept a loan.

Clean up your bad credit

Having no or bad credit can hold you back and hinder getting approved for a loan. Bad credit makes you a high-risk borrower, and high-risk borrowers always have a hard time getting approved for loans and financing in general.
As you already know, traditional lenders have strict credit requirements and rely heavily on credit scores to determine if a borrower qualifies for personal loans and installment loans.
Credit scores are also used to determine the interest rate at which a lender is willing to accept the risks of lending to a borrower with bad credit.
To better understand how credit scores affect loan options, it’s best to start by getting your hands on a current copy of your credit report. Several sources provide a copy of your credit report online for free. The one I personally prefer and use is www.annualcreditreport.com, you may also be able to get a copy from your credit card provider. You need a copy of your credit report to review the accuracy of the accounts currently reporting under your name.
Call the lender and credit agencies if you notice any discrepancies such as closed accounts showing as active, higher debt amounts than you owe, or inaccurate monthly payments. All these factors may hurt your credit score and qualification.

Avoid common mistakes that lead to bad credit

• Making late payments. A 1 x 30 (30 day late mark) is not nearly as bad a 2 x 30 on your report. But it’s still bad and should be avoided if possible.
• Making minimum payments instead of paying down the balance when you can afford to pay-down the loan. Higher balances = Lower credit scores
• All payments are important. In today’s digital world, all accounts are somehow connected.

If you’ve made any of the above mentioned mistakes, you can still qualify for a loan. Specially, if the loan will put you in a better financial situation. There are at least 5 ways to receive a loan without having a perfect credit.

1. Apply to Credit Unions

Credit Unions are similar to banks, but they are owned by their members instead of profit-seeking shareholders. A credit union, especially if it’s affiliated with your employer or community, may decide to grant you a loan based on your borrower character and your ability to repay it despite your poor credit history.

2. Reach out to family and friends

Borrowing from family and friends is generally not a good idea. However, if you are 100% positive, you can repay the loan, and you are going to use the money to put yourself in a better financial situation, consider it. Look at it as bridge loan till you get back on your feet. If you decide to go this route, be sure to have a written agreement with the interest rate, loan amount, payment terms, and all the other factors you deem important to both parties.

3. Get a co-signer

Asking a friend or family member to co-sign a loan is a great option. A co-signer with good credit will help you qualify for a better loan than you would with your bad credit. It will also help rebuild your credit if you make all your payments on time. Don’t forget the loan is tied to both your credits. Thus, if you miss a payment, you will ruin your co-signers credit and adversely affect someone kind enough to help you when you needed it.

4. Turn to Personal Loan Lenders

Personal Loan Lenders such as the ones Getmoney.com works with have created a fairly new industry which makes it possible for people with bad credit to be connected with a lender who’s guidelines are more flexible. These lenders welcome all credit types for personal loans, payday loans, and installment loans.
Some personal loan lenders do everything online and get you qualified in as fast as a few minutes to get you the money you need within 1 to 2 working days.
The process is simple and very easy to follow. Get a personal loan

5. If there is no other way, consider Secured Loans

If your credit or income is not good enough to meet any lenders guidelines, the best chance of getting a loan is seeking a secured loan. A secured loan is a loan granted based on a tangible asset you own. The lender holds the asset as collateral and will liquidate the asset if you fail to meet your financial obligations. Usually, secured loans have lower interest rates and better terms. Plus, if paid in a timely fashion, they can positively affect your credit score.

No comments yet