Beware of Memphis Associates Loan Offers
Memphis Associates loan offers are bait and switch. Memphis Associates has begun flooding the market with debt consolidation and credit card relief offers in the mail with the website mymemphisassociates.com. The problem is that the terms and conditions are at the very least confusing, and possibly even suspect. The interest rates are so low that you would have to have near-perfect credit to be approved for one of their offers. Best 2020 Reviews, the personal finance review site, has been following Memphis Associates, Tate Advisors, Plymouth Associates, Neon Funding, Polk Partners, Ladder Advisors (also known as Carina Advisors, Corey Advisors, Pennon Partners, Jayhawk Advisors, Clay Advisors, Colony Associates, and Pine Advisors, etc.).
Best 2020 Reviews closely monitors personal loan offers, debt reduction, and credit card consolidation offers sent through direct mail to consumers.
Consumers with too much debt are generally vulnerable to these types of offers. Sometimes they are so desperate to get out of debt that they make bad decisions. They respond to any offer that gives them hope of a better financial future, even if it feels too good to be true. That is why it is so important to rate shop and not take the first offer that comes your way.
The consumers aren’t necessarily being scammed, but they are being sold a bill of goods. The combination of desperation, a fast-talking salesman, and confusing terms and conditions can often lead to disastrous results.
What Kind of Loan Offers Is Memphis Associates Pushing On Debt-Strapped Consumers?
Online personal loan offers are a popular method that consumers turn to for life’s unexpected expenses. If the choice is between unpaid credit card debt, home equity loan, or personal loan offers, most consumers turn to personal loans to obtain the cash they need to solve their financial problems. It is scary to borrow against your home. What if something goes wrong? You don’t want to risk losing your family’s home. Credit card rates are high and generally, the credit isn’t available when you really need it.
How To Get Approved For A Personal Loan
If you are applying for a personal loan, be prepared for the following:
- Personal Tax Returns, W2, or K-1 Documents
- Each lender has its own credit score criteria. Make sure you qualify.
- Lenders also have minimum debt-to-income ratios. Make sure you fit the parameters.
- All lenders are not approved in all fifty states. Make sure they will lend in yours.
What Can You Do With The Money From An Online Personal Loan?
Online lenders aren’t very restrictive when it comes to what you do with the money once the loan has funded. Most borrowers use the funds for debt consolidation, medical bills, or home improvement.
Tips For Personal Loan Shoppers
- Do your homework. Do your research. There is nothing wrong with being an educated consumer. Don’t you want the best deal?
- Visit popular and FREE personal finance review sites;
- Stay clear of companies that charge upfront fees;
- Beware of companies that have hidden fees. If an offer seems to be too good to be true, it usually is.