Personal Loan Solutions
Is This Your Business?Author: Kaitlyn Short
Finding a bank or credit union for your next loan can sometimes be daunting. There are so many options out there that it can be difficult narrowing down choices or select what is best for you. Fortunately, there are services dedicating to making this onerous process a little less stressful and hectic. One of these services is Personal Loan Solutions, a website that will help you find secured and unsecured loans for your short-term financial demands. The company is unlike most in that it does a wonderful job educating potential users about different types of loans and the pros and cons of each. On the other hand, the service will connect you to many lenders that have sky-high rates and that have unfavorable customer ratings.
Top Ranked Companies
The Good
- Massive Amounts of Information
- Personalization
- FAQs
Massive Amounts of Information
If you're a novice when it comes to borrowing, don't worry: Personal Loan Solutions has more information than you could possibly need regarding what types of personal loans are in the marketplace and how each can be beneficial and harmful. Customers will enjoy the fact the service is up-front and forthright about personal loan information. Personal loans aren't for everyone, and the website makes this clear. Additionally, the service is fast and will cost you absolutely nothing. Customers always love free.
Personalization
A nice feature Personal Loan Solutions has is that you can type in what you're looking for and specify your needs, and potential lenders are presented to you. For example, if you seek a certain type of personal loan, you can customize your search accordingly and save time and hassle.
FAQs
Similar to the first point, the website does an excellent job of helping you know what you can use your loans for. A lot of potential customers have never had a personal loan and may not know what limitations there are in using them. Personal Loan Solutions clears up any questions in that regard. In reviewing this company, we enjoy seeing a site that has a robust FAQ sheet and a well-laid-out section explaining everything you need to know about personal loans. This helps you, the prospective customer, know and understand whether personal loans are your best options. The company presents this in an honest manner.
The Bad
- Just the Middleman
- High Rates
Just the Middleman
Personal Loan Solutions won't grant you a loan of any kind. This is a service that will help you find potential lenders. While this might be appealing to some, it can also be a cumbersome, unnecessary step for others. Also, the service often gives you more potential lenders than you can deal with. Customers feel the same way we do about this service: they're nervous that they won't be guided in the right direction and that the lenders they do find won't be one's they'll feel comfortable dealing with. Financial matters should be dealt with seriously, so customers want to make certain they are doing business with completely honest companies. Customers also frown on the fact that the company's website does not even have an About Us page. This is yet another reason to be nervous about the company in that no one can see where it operates from and who leads the business.
High Rates
Be aware that depending on your credit, personal loan interest rates can be alarmingly high. At a minimum, you'll probably have a rate around 10 percent. If your credit is poor, get ready to be strapped with two or three times that figure.
The Bottom Line
Online services such as Personal Loan Solutions can be extremely helpful in finding lenders that best match their needs and preferences. It can often be a challenge to narrow down choices or to even know where to start. If you find yourself in the boat of needing some short-term cash but not knowing much, if anything, about what options are available, this service is a definite recommend. If you are well versed in the lending industry and know what you want, there is not need to use Personal Loan Solutions.
