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Www.MoreMerchant.com has readres ask questions.?


www.MoreMerchant.com has readers from time to time ask questions.. looking for help. We are seeing if anyone else has knowledge for this question.
Here it is:

My mother has very bad credit and is looking for a personal loan. She has spoken
with three companies that have offered to help her. They each advised her that
she would have to pay to insure the loan. She is attempting to borrow $15,000
and the three companies are asking for around $1,300 dollars to insure the
loan. I have heard of companies requesting insurance on a morgage loan, however
I have never heard of making such a payment up front for a personal loan. The
three companies that she is speaking with are:
American Investments
First National Credit Corporation
Mitchell Brokers, EZ Loan Institution
Has anyone ever heard of these companies? Are they legit? Has anyone ever paid
insurance for a loan up front, and if so are the amounts being asked for
reasonable?

You gotta pay 8.5% up front to get a loan? And probably a high interest rate on top of that! Are you crazy to even be thinging of doing that?

There has to be someone who will loan you money for less than that. Keep looking!

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