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Jul
10

A question about Starter Loans Direct?

Personal Finance

  
direct loans
wildstorm_films asked:

I got an ad in my about Starterloansdirect.com and that anyone is approved for a $10,000 loan. No No Verification and all that. But how does it work?? Once you fill out the application, do you get the $10,000 deposited into your bank account? Because it is asking for anyone to fill out their bank info? Do you get a check in the mail? The site is very vague about how this is supposed to work. Anyone have any answers?
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  1. Wes Says:

    Its a scam. No one will just give you $10,000 without being very sure you will pay them back. The world doesn’t work that way, unfortunately. They are just trying to steal your identity.

  2. Honkey Says:

    Im always wary about providing my personal bank info. Try going to bbb.org and check their listing to see if the business is certified by the Beter Business Bureau. A lot of places who offer payday loans or loans like the one you were offered do so because they dont really expect you to pay them back. So, they wait until you fault on the loan and then charge you outrageous interest and other penalties for not paying on time. Be very careful and make sure you read everything if you decide to take this loan. But I would definetly advise against it.

  3. reneem1954_2000 Says:

    Some are e mail scams or phishing. They get your account numbers than rip you off. My son had $300 taken out of his account by a company like that, Lucky the bank caught it as fraud since he reported it right away.

  4. candyjkl Says:

    I received the same email this week from starterloansdirect.com. I immediately went to consumer reports and BBB.org to see if this was a registered business. There were no results found for this business. I was wary because the site asked for my social security and account numbers. They also wanted to debit my account directly. Also if you think about it they are giving you 12 month terms at $24.95 a month plus a fee of what $99.95 for doing the application. Not only is that not enough time to pay off this loan, it sounds as if they just want to take your $99.95 plus your first payment of $24.95 for nothing. At the very least I will wait until the BBB emails me back. I probably will be doing a lot more research. I am always wary of anyone who emails me. Usually I like to find my own deals.
    My advice. Don’t do it unless you can verify the validity of the company.

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