The ongoing financial crisis and subsequent change in consuming habits is a fruitful opportunity for fast payday loans services. These services offer short-term loans via SMS or an easy-to-fill-in online application. Even if you have a bad credit rating or no credit at all, the money appears in your account within minutes. Easy and convenient, you might think, but what says the WOT community?
We checked the WOT reputation ratings of about thirty fast loan companies and found out that most of them have poor or unsatisfactory reputations. WOT users reported bad customer experiences, phishing, annoying ads, flaws in privacy and ethical issues.
One of WOT’s platinum members writes this warning about fast loan services on a WOT reputation scorecard: “Company engaged in irresponsible lending practices with extortionate APR rates. Anyone that feels this lending company is good and should not be badly rated, should review their own personal financial habits. These companies exploit those in debt or with an adverse credit history. A fool is easily parted from their money.”
In summary: There are many ways that fast loans can get you in trouble.
WOT warns you about evil sites
If an urgent need for fast cash arises and the only way to overcome is a fast payday loan, keep in mind that easy doesn’t equal cheap. Let WOT distinguish the lesser evil by downloading the free WOT add-on for your browser. WOT is available for Firefox, Internet Explorer, Google Chrome and Safari browsers.
Share your experience with us by joining the WOT forum conversation about fast loans.