Loans / Credit Consumer Complaints

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Loans and credit are not the best part of society but have undoubtedly become a huge part of it. Almost everyone lives off of credit and our credit says more about us that we are probably comfortable with. Every loan we take affects our credit and is affected by our credit as well. Your loan interest rate will be affected by your credit score as well as determining whether or not you qualify for a loan at all.

Loans and credit can be extremely helpful in times where we need it to help us through but can also be abused and handicap us in difficult times as well. That’s why different services have popped up to help people struggling with credit problems. These credit services may be underappreciated by some or viewed as life savers by others. That is because credit services don’t necessarily solve your credit problems. They provide the tools and plan necessary to help but they don’t just get rid of the problem.

The need for credit services, of course, came from the use of credit and what most common way do you use credit than by swiping your credit card. There are a number of credit providers. The one you chose you use may be because you decided you liked their company or because the credit is provided through your bank. Credit card use is extremely common in the United States. So much so that people may not even carry more than a few dollars of cash on them at any time.

You can get credit cards from virtually anywhere. Banks often have their own credit programs but let us not forget store credit. You can barely walk into a department store without someone mentioning a credit card. There are many reasons for this and part of it is the interest on the card will go directly to the store. So with charging you interest on top of your purchase, why wouldn’t they want you to get their card?

However, credit isn’t the only thing many people live off of. When you buy a house or a car, you take out a loan. Loans charge interest the same way credit does and the number of loans taken out in your name can lower your credit score because of the money you will need to repay. Loans are probably taken from banks or credit unions; however, many college students know there are even federal loans to help with education.

If you need quick money, there are p****y advanced loans as well but those come with high interest and can become a sticky mess if the person taking the p****y advance isn’t careful. Loans aren’t just to help you make purchases. The loan provider is out to make money and the person taking out the loan is how they get it: through interest.

In the unfortunate instance where you are unable to repay your loan or pay off your credit, then the money goes into collection. Your home may be foreclosed, your vehicle pay becomes repossessed, your paychecks may garnish through collection agencies to get the money you owe. If you are still in financial trouble this can be devastating and that’s why financial responsibility is important. However, when instances are beyond your control, credit services can help to alleviate some of the terror that comes with being in credit debt.

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