Personal loan ads: Legit or scam?

I can't find a single damn thing about "them" online.

Every time we turn around, we’re getting some flyer from a credit bureau... and honestly, I won't sugarcoat it—we can't get a loan anywhere.

Then one day, we stumble upon this other outfit (they claim they don't check Equifax 🙄...)...and my husband just muttered... that we'll probably blow this one too... (because at the big banks, they're demanding a mortgage, and even with a co-signer, he can't get a loan large enough to cover what he already owes 🙂)...

So, we actually went down there in person, to the office at Anchorage, New York City. They called us today saying we need to bring in more paperwork and that, apparently, we might actually get some cash.

And here's the kicker: they told us they don't look at the reports like Equifax does—total LIE!!!
At least, that's what they claimed. I told my husband, there is absolutely no way anything gets approved at a real bank without those checks.

But apparently, this wouldn't go through a standard bank, but rather through some sort of credit unions (not sure which ones). I don't have the specifics yet.

I'm just asking—has anyone here actually dealt with this agency over on Anchorage?

Or should we just run for the hills before it's too late?🤷

From what I gather, the interest rate is around 12% and they're asking for some kind of insurance, though the amount isn't set because they haven't finalized the loan total yet.

I need an answer fast since we're heading back there tomorrow morning.

Credit unions act like they don't give a damn about the Federal Reserve, yet they'll be the first ones breathing down your neck about garnishing your wages when it's time to pay.

The interest rate is 11.95%, but once you factor in the APR, it jumps to 17.94%. They were asking for everything under the sun: promissory notes, insurance, a co-signer, a 5% CD, and a 4% fee taken straight out of the loan.

A loan for $23 over 84 months (7 years) — monthly payment is $433 — and I walked away with $21

Ugh... 😲

They’re pulling in maybe 47,000... against a 68 $0.00 asking price... 😲

My thought is to probably fork over about 50k just to shut down my small business and wipe out my bank overdraft—if we even have anything left to live on after that. Though, honestly, I have a feeling this whole thing might be an even bigger disaster than the mess we’re currently stuck in. If I actually had a decent job, I wouldn't be forced to dive into this. But no, because apparently, nothing ever goes my way. 🙂

Maybe I'll find out something more today.

Boky gave you a decent breakdown. Those should be roughly the terms you're looking at, give or take a little. They’ll probably mandate life insurance, too, which is going to bite you right out of the gate with a premium of about $500 or so...
Personally, I don't think it's worth your while. A real APR on a deal like this sits closer to 17%, maybe even higher depending on the term length...
If you're looking to walk away with $50,000 in cash, they’re going to structure the loan for about $56,000. That extra $6,000 covers the fees and the mandatory insurance. Also, expect them to slap an administrative hold on your accounts. It doesn't matter if you already have other loans; the main thing is that your take-home pay has to equal or exceed the monthly payment. Basically, theoretically speaking, once this loan kicks in, they could technically withhold everything from your checking account just to cover the installment...

You're essentially paying a variable interest rate, just keeping it all strictly above board.

🙂🙂🙂🙂

🙂🙂🙂🙂

The pitch:

The FBI (somebody called me—the internet search flagged them as CIA)
- they offer $11
- they pay out $7.25
- they pocket the difference to cover the life insurance premium
- a 6-year loan, monthly payment of $300

______________________

A massive pile of garbage and a total scam!

You walk away with 22,000 but end up paying back over $21333 — just wonderful...☕

So, we pulled the plug on that loan today.

Here’s a little something extra for you.

Back at the credit office, they handed us papers regarding some entity called FBI (or something close to that). But then, they called us back yesterday—after running the numbers—to clarify that it was actually NSA. The woman working there tried to convince my husband that they weren't even the same organization. Apparently, the NSA is currently going through liquidation.

On top of that, she spent all of yesterday and today absolutely suffocating him with this relentless pressure. She kept insisting that if he didn't take this loan, he’d be ruined—that collectors would be knocking on the door, blah blah blah... she really gave him a hard time. She kept telling him he needed to think long and hard because this was his "one shot" to get ahead. He kept trying to explain, quite pointlessly, that this money wouldn't even cover what we owe to the Americans or fix our current deficit; it would just add an extra $300 per month to our debt. And for what? It doesn't solve a single thing.
Oh, and apparently, if he wants to cancel the agreement—though I'm not even sure which specific contract she's talking about, since he only provided paperwork regarding his average income and employment—he has to physically go down to the bank to sign everything. Which bank, though? 🤷.

He called the NSA today—they were actually incredibly polite—and he laid out exactly why we're backing out. Their representative was totally reasonable; she actually understood that this loan isn't the solution to our problems. And yeah, it turns out it really was the NSA.

He asked them to just mail the documents to us, since driving down there would cost us another $33 or so. We're also a bit worried that the lady at the credit office might try to pull something and not send them. They promised they'd send them by mail.

At least someone in this whole mess is acting decent.

As for us, we're still stuck with the same old problem: figuring out where to find the cash for those unpaid installments...🙄😢
Nobody's got anything to lend.🙄

.

Just DM me your debts, what you owe, and what’s coming in so I can take a look and see if we can actually make something work...

rapidskipper12 said:Just DM me your debts, what you owe, and what’s coming in so I can take a look and see if we can actually make something work...

Basically...
We’ve got an appointment set up at JP Morgan Chase this Wednesday. We need to run through everything with them first—if we can't strike a deal there, I honestly don't think we have a prayer anywhere else.

If you’re working under the table, they aren't going to approve your loan... and honestly, that’s their biggest leverage over people. It might not be their only trick, but it’s certainly their most effective one.
In my opinion—as unrealistic as it might sound—people need to find some other way to scrape the money together instead of falling for these kinds of loans.
I mean, just look at the math. You see how much you're actually getting versus how much you end up paying back? It’s basically predatory lending, just wrapped up in a legal package.
The only thing you could potentially try is going DIRECTLY to a local credit union where the actual funds are held, rather than dealing with these shady "offices." They might be able to work out a loan where you actually receive the full amount without those ridiculous "processing fees" and mandatory life insurance policies they tack on.

That’s cap. I’m actually on a blacklist and still managed to score a debt consolidation loan through Google...

It’s not on the blacklist.
Our entire existence—I mean, whether we even stay together—hinges on this loan. 😢

🙂🙂

Honestly, all this stress and constant worrying has actually made me sick. It’s just one of those modern tragedies, isn't it? That money can tear apart two people who genuinely love each other. We're only a few years and maybe a slightly better paycheck or a promotion away from finally getting this debt under control, but what does that even matter when we can barely scrape together enough to cover the mortgage this month? 🙂🙂

If I were working and pulling in at least $1000....we'd be sitting pretty.....but instead, it's like this: 🙂

If I wasn't even here...☕😢

Come on now, let's be reasonable. If there's real love there, you'll find a way through it. You just have to realize that taking out a loan from those vultures inevitably comes with a massive APR. I won't even get into the specifics of how much you end up paying back relative to what you borrowed—that's just the nature of long-term debt, regardless of who's lending it...

There’s also the unfortunate reality of devaluation to consider. There is a chance the dollar won't hold its value like it used to $2.50—say, if it drops significantly. How are you supposed to pay them back then? They’ll just hit you with a garnishment order within two months, tops.
It’s honestly pathetic that our laws allow these kinds of... "institutions" to exist. It's basically legalized usury, yet people often feel like they don't have any other choice.

^^^We love each other... deeply... but we don't even have enough left over for rent anymore.... and as things stand, if he doesn't get anything from the bank, we’re done by January 15th. Then she moves out, goes to stay with her mom.... and me....🙂....ugh, it's too hard to even type this out...😢

Damn money and this whole life thing.

There's still a tiny bit of hope left—just a sliver—that things might work out at the local Chase branch. But they see through everything; they'll see those three loans, all the overdrafts, the credit cards. After his paycheck hits, if there's even anything left, $133. It's not like his income stays steady.

Everyone else is just a predator looking for a handout...

Kimberly Robinson2 said:^^^We love each other... deeply... but we don't even have enough left over for rent anymore.... and as things stand, if he doesn't get anything from the bank, we’re done by January 15th. Then she moves out, goes to stay with her mom.... and me....🙂....ugh, it's too hard to even type this out...😢

Damn money and this whole life thing.

There's still a tiny bit of hope left—just a sliver—that things might work out at the local Chase branch. But they see through everything; they'll see those three loans, all the overdrafts, the credit cards. After his paycheck hits, if there's even anything left, $133. It's not like his income stays steady.

Everyone else is just a predator looking for a handout...

His mother? Is she still alive? Considering he's already 61 years old
.
Kimberly Robinson2, you're either sharing your account with others—which is strictly against the rules—or you're trolling, or you're peddling some shady credit union. Stop it. 😉

shadowpilot8 said:His mother? Is she still alive? Considering he's already 61 years old
.
Kimberly Robinson2, you're either sharing your account with others—which is strictly against the rules—or you're trolling, or you're peddling some shady credit union. Stop it. 😉

And that guy happens to be my ex. We're divorced.
His mother is very much alive, by the way, and he's still living under her roof. 🤣

And heaven forbid I actually try to advertise a credit union...😲😲😲

Just stay far away from those people...

God... what a joke... this is my literal life...😢

Seriously though, has anyone actually ever finished paying those people back their principal and interest? 😁

If you’re talking about the Gestapo, then I’m... 😉

Kimberly Robinson2 said:It’s not on the blacklist.
Our entire existence—I mean, whether we even stay together—hinges on this loan. 😢

🙂🙂

Honestly, all this stress and constant worrying has actually made me sick. It’s just one of those modern tragedies, isn't it? That money can tear apart two people who genuinely love each other. We're only a few years and maybe a slightly better paycheck or a promotion away from finally getting this debt under control, but what does that even matter when we can barely scrape together enough to cover the mortgage this month? 🙂🙂

If I were working and pulling in at least $1000....we'd be sitting pretty.....but instead, it's like this: 🙂

If I wasn't even here...☕😢

So, yeah, maybe just get a job🤷

But getting back to the point, 😁 there are certain types of loans out there where they don't really care how much of your paycheck you have left over; they might be a bit more expensive, but they tend to get approved much faster.

Shoot me a DM if you want to talk about it, since I don't want to sound like I'm advertising here—they haven't earned that kind of attention 😁—but I'm happy to help you out since you mentioned you're feeling like you've run out of options.

Susan Davis4 said:Seriously though, has anyone actually ever finished paying those people back their principal and interest? 😁

Well, I've totally paid mine off, and honestly, if you play nice with them, they'll usually be cool with you too since you know what you're getting into from the start, so it's really just up to you how you want to handle it.

Anyone here dealt with legit credit brokers? I mean the ones actually registered with the U.S. Department of the Treasury who offer the best terms.

thanks