Bad Credit Loan Center has created a Scams page on their website to help users to alert one another as well as the authorities to bad credit lenders that extort and exploit vulnerable borrowers.
San Francisco, CA -- (SBWIRE) -- 07/30/2014 -- For individuals with bad credit, finding loans for essentials like an automobile or a home can be next to impossible without having to resort to extremes such as payday loans from sharks who charge extortionate interest rates. This leaves many people in the desperate position of seeking reputable loan providers without being able to tell the scammers from the genuine article. Bad Credit Loan Center helps people do just that, with a qualified and approved list of seventy lenders that offer personal loans to those with bad and no credit history. They have just launched a Scams page to help people further differentiate by outing the sharks.
The Scams page gives people information on identifying scams before falling prey to one as well as how to report a scam should individuals be taken advantage of, including contact details and procedures for notifying the authorities and more.
In addition, there is also a comments section in which users can post their thoughts and experiences on lending companies, which enables a community to spring up and alert one another of potential scams and avoid disreputable lenders, helping people stay safe and get the loans they need on terms that won’t try to sting them down the line.
A spokesperson for Bad Credit Loan Center explained, “We created this site in 2000 to offer an alternative to scammers and sharks, with a carefully selected list of seventy approved lenders who can offer individuals with bad or no credit a reasonable deal on their borrowing needs. The scams section has now been opened because the recession has seen a proliferation of sharks taking advantage of this vulnerable niche in the market. We provide individuals a way to keep each other alert to scammers, which gives people all the more reason to use our service to find reliable loan providers.”
About Bad Credit Loan Center
Since February 28th, 2000 Bad Credit Loan Center ™ has been the #1 online resource for loan matching services. Whether users have bad credit or good credit, the Center does all in its power to secure the best loan rates from over 70 qualified loan lenders, who will contact users by phone or email. For more information please visit: http://www.badcreditloancenter.com/