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Online Loans?
Hermione asked:
I am thinking of applying for a loan online. I have poor credit, but I have a cosigner with a credit score above 700. But, he lives 200 miles away. How will they go about getting all the documentation and everything with us that far apart. Are online loans paperless? How do they work?
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5. October 2008 at 2:55 pm :
I have done 2 online loans – one was an auto laon, and the other a signature loan. My auto loan it seems it was all done online. My signature loan I had to go to a bank to sign the paperwork. The difference is that now identities must be verified because of anti-terrorism laws. Papers can be emailed or faxed and originals FedExed to the lender for faster delivery. Or the final stuff can be sent to your cosignors local bank for signatures and ID verification.
Capital One was the lender for both my loans – it was easy and I never had any problems – but I have good credit.
5. October 2008 at 10:34 pm :
online lenders like prosper.com are totally paperless and easy…
>Beware of Advance fee Loan scams.
LOAN SCAM – Do Not Pay UpFront Fees.
Do not send money UpFront via Western Union or MoneyGram to any person or business in the UK, Nigeria or Canada in hopes of getting a loan. If you do you will learn a hard lesson & never see any Loan money.
G luck!
5. October 2008 at 10:55 pm :
Poor Credit Does Not Mean You Cannot Get A Loan.One of the most popular resources for researching bad credit loans is the internet. Almost all lenders have web sites that provide guidelines and information about their bad credit loan programs, and some even offer onlinemake your credit rating worse, so make sure you learn as much as possible about each lender’s program before deciding whether or not to complete an application. You can also work with an independent loan broker to help determine which lenders have programs that fit your individual circumstances.
6. October 2008 at 3:09 am :
. You can easily get a choice of lenders in the comfort of your home. All you have to do is log online, fill in your details on the websites of the lenders and submit. Your application reaches the lender instantly. However like any online transaction, you need to be careful when applying for these loans, since there are many illegal lenders online than in the physical world. These tips will protect you against these crooked lenders.
7. October 2008 at 4:17 pm :
Hello, papers can be emailed or faxed. Or the final stuff can be sent to your cosignors local bank for signatures and ID verification. I found interesting information about your answer here. luck!