Am I alone....

Brains64

.....in thinking that the number of "go-between you and the lender" companies on-line is getting ridiculous??, when I'm looking for a loan which I do from time to time like many I see an advert which gives the impression that they are a lender.

I fill their form out only to then realize 9 times out of 10 that they are in fact a service that will search for a lender on my behalf, fair enough, that can be helpful but it's the way they give the initial impression that they themselves are the lender when in fact they're not that I find dubious and they seem to be way outnumbering the amount of actual lenders advertising on line.

Some times you will find that you apply through one go-between who will then put you through to yet another who has the cheek to charge a fee for their search services, like, this is taking the mick isn't it??

Apples2

How many times are you going to fall for it before realising there are no genuine brokers in your Google results?

In fact that isn't quite true, the real problem is people expecting to be offered a great loan at a really low apr even though they have a history of not repaying previous debts.


With a poor credit history, it is foolish to think proper mainstream lenders should do anything other with your application than throw it in the bin.

With Poor credit histories, it is right and proper you pay more, because you need to pay for your peers who won't make the repayments.

All a broker does is fill out forms for you, you can do the same yourself but it means using Google. For whatever reason you decided to pay someone to do it.

I do agree though, loan brokers are scams, nothing more.

DCFC79

The number of "go-between you and the lender" companies on-line is fine. Not sure why anyone would use them or think its ok to use them when they charge a fee.

Just use reputable lenders eg the high street banks, the retailers who have branched out into offering loans.

opinions4u

If you can't get a loan from a mainstream lender just don't get a loan at all.

Brains64

opinions4u wrote: »

If you can't get a loan from a mainstream lender just don't get a loan at all.

Theoretically that is sound advice but the practical reality for some is that there isn't anything else to fall back on if mainstream lenders or banks refuse to help and they are in need of some financial assistance, if you can carry on without getting a loan then that's fine, go without, I'd advise that myself to be honest but going without a loan of some sort is not an option for everyone, lenders are there because there is a NEED not just a WANT for financial assistance, especially in this economic climate, if it was just WANT they would be out of business, their business thrives on people being up the creek, if your landlord is getting on your back about unpaid rent they don't care where you get it, they just want you to get it or your out on the street, this is the reality for many in these times.

CLAPTON

Brains64 wrote: »

Theoretically that is sound advice but the practical reality for some is that there isn't anything else to fall back on if mainstream lenders or banks refuse to help and they are in need of some financial assistance, if you can carry on without getting a loan then that's fine, go without, I'd advise that myself to be honest but going without a loan of some sort is not an option for everyone, lenders are there because there is a NEED not just a WANT for financial assistance, especially in this economic climate, if it was just WANT they would be out of business, their business thrives on people being up the creek, if your landlord is getting on your back about unpaid rent they don't care where you get it, they just want you to get it or your out on the street, this is the reality for many in these times.

there are needs
there are wants
there are can affords

sadly, loans for people already spending more than their income, make no sense as loans have to be repaid with lots of interest added.

loans for one off issues where people are spending less than their outgoings can make sense.

poppasmurf_bewdley

I'm surprised the European courts haven't decided it's a 'human right' to have a loan! No doubt someone will come on now and tell us it has.

Brains64

poppasmurf_bewdley wrote: »

I'm surprised the European courts haven't decided it's a 'human right' to have a loan! No doubt someone will come on now and tell us it has.

Ha:D, well, on a serious point regarding this it could be argued that it's a human right to have the basics and if a loan is the only way someone can get the basics then yes, it's a human right alright, this of course actually exposes the holes that are in the supposed "safety nets" that are meant to be in place for people to fall back on.

We've been told by our Primeminister David Cameron over here in the UK that being in work will always be more rewarding than being on the dole but as a worker I can tell you that the reality is a little different from all that baloney.

If you think about it, the UK government is already having to cut the welfare budget due to deficit problems, same in many other countries meaning that many will suffer so they will have no choice but to turn to loan sharks to get the assistance that they should be getting from said government, this is why governments will probably not want to do anything that will upset private lending businesses, in fact, if anything the government needs them to stop what would be social anarchy.

I can see this industry booming even more than ever in the next few years as the cuts really begin to bite, there was a time years ago when I swore I would never use loan sharks and thought anyone who did was daft but that was when I was much better off, now, it's survival time!

Wutang_2

poppasmurf_bewdley wrote: »

I'm surprised the European courts haven't decided it's a 'human right' to have a loan! No doubt someone will come on now and tell us it has.

This sounds like a drunk man in a pub/cliche comedy character

poppasmurf_bewdley

Wutang wrote: »

This sounds like a drunk man in a pub/cliche comedy character

I'll drink to that! :D

CLAPTON

Brains64 wrote: »

Ha:D, well, on a serious point regarding this it could be argued that it's a human right to have the basics and if a loan is the only way someone can get the basics then yes, it's a human right alright, this of course actually exposes the holes that are in the supposed "safety nets" that are meant to be in place for people to fall back on.

We've been told by our Primeminister David Cameron over here in the UK that being in work will always be more rewarding than being on the dole but as a worker I can tell you that the reality is a little different from all that baloney.

If you think about it, the UK government is already having to cut the welfare budget due to deficit problems, same in many other countries meaning that many will suffer so they will have no choice but to turn to loan sharks to get the assistance that they should be getting from said government, this is why governments will probably not want to do anything that will upset private lending businesses, in fact, if anything the government needs them to stop what would be social anarchy.

I can see this industry booming even more than ever in the next few years as the cuts really begin to bite, there was a time years ago when I swore I would never use loan sharks and thought anyone who did was daft but that was when I was much better off, now, it's survival time!

how exactly does a loan help a poor person?