Buyers should beware when going online to find personal loans, because some of the companies offering these loans are less then trustworthy. One online lender, the 777 Discount Club, is being accused by their customers of taking money from their bank accounts after the applied for online loans.
The company made communication difficult so that it was tough for consumers to get the charges reversed.

Because this company is likely not unique in operating this type of scheme, consumers should be very careful about choosing which website they use to apply for a loan. The Better Business Bureau warns that you should be on the lookout for websites that demand that you provide personal information, especially social security and bank account numbers, before telling you if you've qualified for a loan. You should also never agree to pay an advance fee in exchange for the promise of a loan.

This entry was posted on Tuesday, May 3rd, 2011 at 6:58 am and is filed under Tips. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.