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ClickCashGo Review: Should You Avoid At All Costs?

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<p>ClickCashGo Review</p>::Pexels

 

 

Legit or Scam? Examining ClickCashGo’s Credibility

 

Sometimes we get in a tight spot and need money immediately for a one-time emergency or to simply to put food on the table. That has many people looking to bad credit loans and cash advances to help them get by in today’s economy. ClickCashGo is a marketplace to put people in touch with bad-credit loan service providers. Is it a good option for you if you’re in need of cash right now? Here is my honest ClickCashGo review.

What is ClickCashGo?

ClickCashGo.com is a loan marketplace that puts people with bad credit in touch with lenders. Because the site is geared towards people with bad credit, credit checks aren’t always necessary. However, interest rates can be extremely higher on many of these high risk credit loans.

The site is designed to help match people with small personal loans and other types of financing. Purposes for financing can vary widely and can be as little as $500. Here are the requirements for loan consideration:

  • Be at least 18 years old
  • A United States citizen
  • Steady source of income (no exact amount disclosed)
  • Have a bank account with direct deposit
  • Credit rating from good to poor

You also won’t be able to submit information to ClickCashGo if you are located in my state (Georgia) or any of the following states:

  • Arizona
  • Arkansas
  • Massachusetts
  • New York
  • Ohio
  • Pennsylvania
  • West Virginia

My ClickCashGo Review

Personally, ClickCashGo isn’t something I would ever use myself. There is no reason my husband or I would look into a high-interest payday loan or cash advance.  If I was looking for a loan today and my credit worthiness limited my options, would ClickCashGo.com be a good option?

ClickCashGo is a site that puts you in connection with loan service providers. While it is not the provider itself, it collects information and passes it to lenders who may be willing to take on your risk.  For people with bad credit, ClickCashGo, or Click Cash Go as some might prefer to it as, can find loans that can cater to your specific needs (up to $35,000). The unfortunate element here is that ClickCashGo.com does partner with some not-so-great lenders. Interest rates on loans through the marketplace can run from 3.99% up to 35.99%. I wouldn’t hold my breath on anything close to 3.99%.

Thankfully, you are not obligated to pay anything unless you accept the term agreement. If you do not accept, you will not be held responsible for payments. If you’re not clear on the terms, seek legal assistance from someone or an entity that has your best interest at heart.

Click Cash Go Contact Information

As you navigate the webpage, you’ll notice it is missing a “Contact Us” section. For a company that initially requires your SSN to conduct business, it is surprising that there is not a simple means to contact an actual representative to answers questions and address concerns. A contact phone number is asking too much. But there is in fact a way reach the marketing team behind ClickCashGo.com.

If you scroll to the bottom of the FAQ section of the webpage, you’ll find an email address and mailing information which can be used to contact Dynomite Marketing, and yes, that is the correct spelling. For even more contact information, navigate to dynomitymarketing.com and you will find their telephone number (1-888-342-0007) and additional email addresses.

 

A General Note on Transparency

When you look at other ClickCashGo.com reviews posted online, most outlets note transparency being an issue. Some sites have the service as low as three out of 10 stars for transparency. In many cases, this is due to the terms not being very clear. This website itself is extremely basic with not much contact information on the business itself. To make matters worse, the service uses a sneaky tactic to collect your personal information.

Even if you decide to stop here due to cold feet or second thoughts due to privacy concerns, ClickCashGo now has your address, name, email address, and phone number to be used as they please.  ClickCashGo may also give your information out to loan service providers which my lead to predatory practices even if you’re denied a loan. While an questionable business practice, it doesn’t mean that ClickCashGo is a scam.

 

Is Your Low Credit Score Holding You Back?

High interest rate loans are directly tied to your credit score and payment history. Self Inc offers a Credit Builder Account which allows you to build your savings and credit score at the same time by reporting your monthly deposits to the 3 big credit bureaus; Equifax, Experian, and TransUnion. The average user who make on time payments can expect to see a credit score increase of 49 points. 

 

Conclusion

When it comes down to it, ClickCashGo is legit, but still a payday loan and/or cash advance service. Unless it is absolutely necessary, these types of loans should be avoided at all costs. Not only do they come with a much higher interest rate, but they will keep you in the mindset that living with debt is simply a part of life. If you’ve ran out of options, it’s still ok to shop around and try to find lenders to beat your last offer.

To truly further your own debt freedom goals, make loans like this mentally not an option. This will help keep you from falling victim to predatory lending or picking up unneeded debts along the way. Here are 4 daily habits to keep you motivated and put a dent in your debt.

 

What are Bad Credit Loans?

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Bad credit

Whenever people are unable to finance a certain project, they refer to the banks and online lenders for a credit loan. Online lenders are more famous for handing out smaller amounts of personal loans, while the banks deal with much bigger numbers. People often apply for these loans when they buy an apartment, car, or when they send their kid to college. Whatever the reason may be, the bottom line is that they don’t have the finances required at the moment.

Of course, not all credit loans are approved. The lenders do a background search on each client to see his or her credit score, their history with paying them off, and whether they caused any trouble. If a potential client has a low credit score, then the chances of being approved are low. Luckily, there is an alternative for those people and it goes by the name of bad credit loans. Although the name might not be the catchiest, it allows many to apply for a credit loan, even though they don’t have the best credit score.

We wanted to introduce you to this type of credit and that’s why we are willing to dig a bit deeper and give you an overview.

The Difference Between Bad and Regular Credit Loans

As you may have figured it out by now, people who apply for bad credit loans are seen as risky borrowers. That is why you may be faced with more interest rates and higher fees, which is not the case with regular loans. The only mutual thing that these two types of credit have is the application process.

The lenders check your credit history, your financial status, and with that information, they decide whether you’ll be eligible to repay them. If you are looking to read the tiniest details, like the credit score categories, best lenders, as well as guides to get a better loan, head over to bestloansforbadcredit.com – they have everything that you need to know.

Are Scams Possible?

The Internet opened up many possibilities for us. Unfortunately, not every outcome can be positive. Scams are happening much more often than they should since many people see the Internet as the best place to rob people of their money. So, to answer your question, yes – scams with bad credit loans are possible.

But, if you follow a couple of simple steps, you will be safe. First off, if the lender is asking you to register in a different state, rather than you home state, then the chances are that you are contacting a scammer. Guarantees without approval, lack of communication skills, and advertising methods are also some factors.

Extra precautions are always welcomed, especially if your financial status is not the best. On a side note, we wanted to mention that if you are struggling to pay off your debt, there are a few side jobs which can be helpful and provide you with a good income.

Types of Bad Credit Loans

Lastly, we wanted to cover some of the bad credit loans. There are 4 types in this section: instalment loans, payday loans, cash advances, and bank agreements. Payday loans and cash advances are the easiest to get, since they are considered short-term loans, but they have greater interest rates.

The bigger interest rates and more detailed background checks that we are witnessing today, especially when dealing with banks, are the result from the 2008 world crisis when the banks around the world were handing out loans without having a plan of action.

For more great articles, read these:

Yes, You Can Buy Someone Else’s Debt

The Best YouTube Channels

The Effects of Financial Stress On Marriage

Image Source: Cafe Credit.

Guaranteed Installment Loans for Bad Credit Aren’t Really a Guarantee

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<p>If you’re hard-up for cash, guaranteed money never sounds like a bad thing. However, many creditors use the word guaranteed to lure you into an agreement that will put your farther in debt for a longer period of time. Here are a few reasons you should probably steer clear of guaranteed installment loans for bad credit.</p>::Pexels

If you’re hard-up for cash, guaranteed money never sounds like a bad thing. However, many creditors use the word guaranteed to lure you into an agreement that will put your farther in debt for a longer period of time. Here are a few reasons you should probably steer clear of guaranteed installment loans for bad credit.

There Are No Guaranteed Installment Loans For Bad Credit

Not everyone is guaranteed to be approved for the money they need. If you have bad credit and are unable to get loans elsewhere, there is probably a reason why. Anyone guaranteeing you a loan should be approached with caution.

It is also important to keep in mind that even though a company says it can guarantee you a loan with bad credit it may not be able to finance the amount you need. For instance, if you need $5,000 desperately for some type of emergency but they were only able to finance you for $1,000, that wouldn’t be very helpful. You’d only get a portion of what you needed and wind up paying a ton in interest.

Many Have High-Interest Rates

Oh, yeah. Most installment loans for folks with bad credit are extremely high-interest. In many cases, they have more than 26% interest. This makes them practically impossible to pay off. You’ll also have another item on your credit report for up to six years, depending on how long it takes you to pay off.

They Aren’t Interested in Your Financial Well-Being

Lastly, companies offering up guaranteed installment loans aren’t interested in your financial well-being. If they are guaranteeing anyone money it means they are not interested in your ability to pay it back. The last thing any of us needs is a collection account hanging over our head.

What To Do If You Need Cash Now

Most people who are looking for installment loans and have bad credit don’t have great money habits, to begin with. That doesn’t mean you don’t have options though. If you need money right now, here are a few things to consider.

  1. Sell items around your home you don’t use anymore. You’d be surprised how many people would pay for things collecting dust around the house.
  2. Ask a family member or friend for a loan. Many friends and family will understand you are in a tight spot. Just make sure you set up a plan to pay them back. This will prevent you from paying interest or having additional items on your credit.
  3. Get someone to co-sign a loan for you. This can help decrease your interest rate as well as help you increase your credit score (if you make on-time payments).

More importantly, if you find yourself having trouble with money on a regular basis, you should consider seeking the help of a professional. Getting the input of a financial advisor can change the way you manage your money and set you up on the right track.

Readers, have you ever fallen for the trap of a guaranteed installement loan?

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What Are Tribal Installment Loans?

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<p>Occasionally, we take a look at different types of predatory lending to avoid on the blog. In the past, I've discussed guaranteed loans and payday loans. While these types of lending can wreck your finances, I think it is important to talk about because many of us looking to pay off debt also have bad credit, which makes us susceptible to predatory lenders.</p>::Pexels

Occasionally, we take a look at different types of predatory lending to avoid on the blog. In the past, I’ve discussed guaranteed loans and payday loans. While these types of lending can wreck your finances, I think it is important to talk about because many of us looking to pay off debt also have bad credit, which makes us susceptible to predatory lenders.

If you’re looking for a bad credit loan to help you get through a hard time, you may stumble across tribal installment loans. Here’s what you need to know about this type of lending and alternatives to consider.

What Are Tribal Installment Loans?

Tribal installment loans are alternatives to payday loans. The difference is that tribal loans are only available through Native American tribes in the United States. Most tribal lenders are represented by the Native American Financial Services Association (NAFSA). This allows tribes to offer online loans.

Surprisingly, many of programs within the Native American community are paid for with these types of loans, including health care, housing, and youth programs. These types of loans are available to individuals within the tribe as well as non-tribal borrowers. In states where payday lending is illegal, tribal lenders are able to lend borrowers money.

Tribal lenders can lend money to tribal and non-tribal borrowers, and they can even lend money to customers in states where payday lending is normally illegal. While many are legitimate and fair lenders, keep in mind that because they are a sovereign instrumentality, they cannot be sued.

Do They Require Good Credit?

Most tribal lenders do not require good credit. In many cases, they simply require verification that you make $1,000 or more every month after taxes. You won’t be able to get more than $2,500 most of the time though and many lenders will only provide loan terms up to six months.

Should You Get a Tribal Loan?

As mentioned above, most tribal lenders offer loans with ridiculously high APRs. If you plan on getting a tribal installment loan, you should have an aggressive repayment plan. Otherwise, you may wind up paying thousands of dollars in interest and additional fees.

Like with any type of loan or debt you take out, you should always read the fine print. Be sure you are aware of all of the loan terms. Many tribal loans have strict repayment terms.

Tribal Loan Controversy

Most Indian tribes have the resources to be able to fund their own lending business. Many of them are also members of the Online Lenders Alliance (OLA). This typically provides some kind of confidence with borrowers, however, some tribes have been known to practice irresponsible lending to increase profits.

It is also worth noting that some tribal lenders partner with third parties. If that is the case, both the tribe and the third party will collect a portion of the interest charges. In some cases, this increases the interest you pay.

Another thing that is important to keep in mind that because tribal lenders are sovereign they cannot be sued in the event there is some wrongdoing. Additionally, some tribal lenders have been known to charge up to 795 percent APR.

Alternatives to Tribal Installment Loans

When it boils down to it, tribal loans are still high-interest loan options that will not help you further your debt freedom journey. Instead of pulling out a tribal installment loan, consider one of these alternatives.

  • Local resources: If you are having some type of short-term financial issue, look for local resources. The food bank can assist with groceries. You may also have a community program that helps pay utilities or even help you get back on your feet.
  • Payment extensions: Instead of pulling out a loan to cover your current payments, consider making a payment arrangement. This can free up some immediate cash.
  • Side gigs: Maybe consider getting a part-time job or side gig to help with the extra cash you need. Increasing your cash flow is one of the best ways to solve your financial troubles without going into debt.
  • Sell a few things: You can flip things on the Facebook Marketplace by cleaning out the closest at home. There are probably a number of things you don’t use lying around. Consider selling them for the extra cash you need.
  • Trim your budget: See if there are any of your expenses you can trim or cut completely. Look at your subscriptions and memberships, ways to cut your utilities, among other things that may save you some money.
  • Borrow from family: Before borrowing, if you are comfortable doing so, ask a friend or family member for help. Most of the time, family members and friends aren’t aware of your financial situation because it isn’t something that is talked about. Explaining your situation and asking for help could prevent you from going into debt.

Before taking out any type of loan, be sure to do your research and make sure it is the right financial decision. Nine times out of 10, taking out a loan won’t further your debt freedom journey. It will only hinder it. Consider your alternatives, interest rates, and other factors before going all in.

Readers, have you heard of tribal installment loans before? Have you ever considered getting one?

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