Chosen by Asker

Where do you live?? It is illegal to require someone to purchase any kind of insurance on a unsecured personal loan in the U.S.

Source(s)

10 years consumer finance employee

by Gwen

1 month ago

Asker's Rating: 

Boy, these companies think of new scams everyday. /

by Judy- 1 month ago

SCAM! Rule 1) No legit lender requires you to pay them a fee (for anything) prior to receiving the loan. Rule 2) There are no exceptions to Rule 1. If you pay the fee, you will be out $700 and there was never going to be a loan. You are dealing with a scam artist.

by Wayne Z- 1 month ago

And, let us guess, they need you to send them the money via Western Union (or bank wire) *before* they can issue the loan. It's a SCAM. Cease communications with them. A *legitimate* loan takes all fees out of the proceeds. So if you borrowed $7000 and they had $700 in fees, you'd only get $6300. Scammers borrow phrases they think *sound* legitimate and then browbeat you until you send them YOUR money. They never send you any of their FAKE money.

by the tax lady- 1 month ago

Do not do this...you'll be paying to borrow

by Lily B Talus- 1 month ago

Looks to be a British company. You'll probably get hit with all sorts of fees and expenses on your loan.

by MikeyG- 1 month ago

What they are probably talking about is PPI (payment protection insurance),which is not uncommon in the UK indeed many high street banks and building societies have been offering this type of insurance,against unemployment, sickness etc.If you are under 18 or over 65,or work less than 16 hrs per week or are on a temporary contract and you were to go ahead with this insurance and they were aware of your details it would probably be classed as mis-sold and you could potentially make a claim against them,however don´t go thinking that you can buy their policy and then make a claim in the hope of getting some sort of compensation :0) Incidentally if anyone has payment protection insurance on a loan be it a mortgage,credit card.debt consolidation loan and it was taken out after January 2005 you might be entitled to a full refund,just just follow the link below,you never know you might be in for a nice little wind fall,just in time for Xmas!

by yeoman15- 1 month ago

HELLO, I AM NIKETAN CAMBELL MY COMPANY OFFER ALL KINDS OF LOAN AT AN INTEREST RATE OF 3% WITH MONTHLY REPAYMENT SCHEDULE TO MEET YOUR FINANCIAL NEED OUR PROCESS IS VERY EASY NO CREDIT CHECK NO COSIGNER INTERESTED APPLICANT CAN CONTACT US VIA EMAIL standard_loanfirm@live.com

by Niketan Cambell- 4 weeks ago