I recently applied with a company called Elly Financial & Phil Lender. Both of them require an insurance fee to be paid before the loan is transferred. I was just wondering if anybody has taken a loan with them before and if everything was okay. I have tried all of the recommended financial institutions, only to be turned down. This is a serious situation to me and I don't want to be scammed in the midst of my troubles. I have done some research and some loan companies do require a insurance fee to be paid, especially if you are a credit risk. Would someone with experience please help me figure this out.
Answers:
Don't do it!!
They try to tell you that it is required because it is out of the country. They will take your money, then tell you they need more to complete the transaction. Keep trying there are high interest places you can go, but they are VERY high interest, though its better than stealing your money. Cashcall runs about 80-90+% interest, but they will give you the money, no up front fees. I guess it depends on how much you need the money. Do not fall for any of them that want the money up front!!
Good luck
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