Trusted Personal Loans Review 2020
By: Heather Hanks Feb. 01, 2020
Searching for the right lender to borrow a personal loan from can be hard. Trusted Personal Loans can make your decision easier. All you have to do is enter your information into their website. The company will take your information and connect you with lenders you qualify for. It’s the mother of all search engines when it comes to possible personal loan lenders.
Trusted Personal Loans can help save you time when it comes to shopping around for the best possible loan. They work with multiple affiliates and do your homework for you. The downside is that you won’t be borrowing directly from Trusted Personal Loans. But this is a small price to pay if you truly want to weigh your options. Here is everything you need to know about Trusted Personal Loans and whether it’s the right service for you.
What is Trusted Personal Loans?
According to the website, the company refers to themselves as an online portal that allows customers to get in touch with lenders. They make it very clear that they do not offer personal loans through their company. They will direct you to your loan provider if you have questions regarding your account. The company also does not charge you for their services. This is because you are not borrowing directly from them. The company's only goal is to help connect you to possible lenders and nothing more.
The company makes money by taking advertising fees from lenders and marketing their services to you. They receive compensation in the form of referral fees. This ensures that the service they provide to you will always be free. The company states on their disclosure page that the offers you receive might come from companies that bid the most for your information.
This means that the company you are matched with might be the highest bidder and not necessarily the company that is best suited for you. Trusted Personal Loans admits that they do not always provide you with offers that feature the best rates or terms. You will need to do your research and pick the offer that is best for you based on the options they offer you.
Additional research outside of using Trusted Personal Loans may be warranted to find the best loan terms. Because the service is free, you could always use it to weigh your options and do additional research if you are not happy with the selections you're offered. If you choose to sign up for a loan that you were connected to by Trusted Personal Loans, then you will need to work directly with that lender moving forward.
Why Use Trusted Personal Loans?
When you're ready to take out a personal loan, it's best to shop around for the best rates. Instead of spending hours searching on each lenders website individually, Trusted Personal Loan can do it all for you in one step. This saves you time and even money when searching for the best lender.
Trusted Personal Loans connects you to lenders that will work with you based on your eligibility. The company states that they will find a lender for you no matter what your credit score is. As noted above, Trusted Personal Loans will only provide you with lenders that paid to advertise with the company. In other words, you may not be disclosed all of the loan providers who will work with you. But you will cut down an additional time needed to research all of your options.
Trusted Personal Loans guarantees that you'll see all your rates up front with no hidden fees. This makes selecting a loan provider an easy process. If you're not satisfied with the rates and terms that you are provided with, then you can do your own research to come up with better options. There is no fee associated with using this service. Once you choose a lender to work with, then you will no longer be working with Trusted Personal Loans.
Loan terms may range from periods as short as two months to as long as 60 months. Repayment dates are often monthly, but some lenders offer bi-monthly payments. Anyone in the United States can use Trusted Personal Loan to find a loan for them.
Key features of loan terms from Trusted Personal Loans
There are no hidden fees or prepayment penalties!
Loan terms range from 2 to 60 months
Loan amounts range from $200 to $40,000
APRs range from 25% to 450% depending on your credit score
Interest rates may vary depending on the state you live in, your age, and your financial income
The application process takes three minutes or less
You can expect to receive your funds in as little as one business day
Personal loans are offered through banks and other lenders that are affiliates of Trusted Personal Loans who pay for your information
You can be approved within minutes
How Does Trusted Personal Loans Work?
Trusted Personal Loan does not directly provide you with a personal loan. They work by connecting you to lenders who do. These lenders are matched with you based on your personal information and needs. Once you choose a lender to work with, you will need to contact that lender directly if you have questions about your account moving forward.
To get started, visit the Trusted Personal Loan website. The company will ask you general questions about your personal and financial activity. They promise to connect you to lenders that offer between $200 and $40,000 in personal loans. The amount of money that you qualify for will be based on your credit score. Other factors that determine your interest rate and loan terms include your current income and how much debt you owe.
Trusted Personal Loans state that they will find lenders to work with you no matter what your credit is. Your loan information is secure and confidential. You can also use the money on anything you wish. Some lenders require the money you borrow to be spent on specific needs. Trusted Personal Loans and their affiliates will not dictate how you spend your funds.
Loan purpose may include any of the following:
● Automotive related
● Baby adoption
● Credit card
● Debt consolidation
● Education
● Emergency related
● Home bills or rent
● Home Improvement
● Major purchases
● Medical
● Moving expenses
● Renewable energy
● Small business expenses
● Taxes
● Vacation
● Wedding
● Other
Applying to Trusted Personal Loans
- Basic set of information
The first basic set of information you'll need to input is your loan amount, your loan purpose, and your credit score.
- Then you'll need to input your credit score. You can choose between the following options:
● Excellent (720+)
● Good (660+)
● Fair (600+)
● Pour
● Not sure
- Finally, you'll be asked and put your ZIP code, the last four digits of your Social Security number, and your birth year
Once you enter all of this information, you will be connected with loan options based on the criteria you provided. Factors that may determine your lending options may include your credit history and the state you live in. Your age and current financial income may also play a role.
If you are matched with a loan provider and you have questions regarding the loan you were offered, you will need the contact that lender directly. Trusted Personal Loans cannot answer any questions you have about the options you were provided. If you are not happy with the loan options you were provided with, then you may want to visit each lenders website individually. Checking directly with the lender you're interested in they provide you with better results.
What Does Trusted Personal Loans Cost?
It is 100% free to use Trusted Personal Loan. The company serves as a connection website to connect you with possible lenders. It works like a search engine by taking your information and matching you to personal loans for free. The company claims that they are an online portal customers can use to help educate them about their options. There are no fees associated with using the service whatsoever.
Trusted Personal Loans will never ask you for money. If you are asked for money, then you may be on the wrong website or it may be a scam. The only time you will ever need to pay is when you sign up with a lender. Once you choose an option provided to you, then you will be done using the Trusted Personal Loan website and service. This means that you will need to work directly with the lender going forward.
Trusted Personal Loans is not responsible for any loan terms that you are offered. You are matched with lenders based on the criteria you provide. These lenders may only be companies who have bid the highest for your information. Keep in mind that there may be better options available to you elsewhere.
Companies that have not signed up to use the Trusted Personal Loan service will not be offered to you. It's always a good idea to do some research on your own in addition to using the Trusted Personal Loans website to view all of your options before making a decision.
How Do I Apply Trusted Personal Loans?
1
Visit their website and fill out the information requested.
This may include general information such as your name, date of birth, and address. You will need a bank account to apply. You will also need to be over the age of 18. It's a good idea to check to make sure that the company offers services in the state you live in.
2
To apply for a loan, you may need to get your paperwork together first.
Doing so can speed up the amount of time in which you receive your funds. It's a good idea to have the following documents handy before applying:
Tax forms
Pay stubs
W2 forms
Tax records
Your social security number
Proof of your identity and income
Military affiliation
Employment status
3
After you enter this information, Trusted Personal Loans will use it to provide you with a list of possible lenders.
They may do a soft credit pull on you. This does not affect your credit score. You will not pay any fees until you sign an agreement form with the lender of your choice. Once you apply for a loan, that lender may do a hard credit check on you. This may affect your credit score. It's a good idea to make sure that you wish to use a certain lender before having a hard credit check pulled. Using Trusted Personal Loans to weigh your options is a good place to start. The service is 100% free and requires nothing more than a bit of your personal information. Otherwise, you may have to enter this information several times into each lenders website to disclose their loan terms.
Pros and Cons of The Trusted Personal Loans
The biggest advantage to using Trusted Personal Loan is that it's free. The service works by connecting you to possible personal loan lenders. You are not obligated to choose any of the options provided to you. it works similarly to a Google search engine. Once you enter your information, you will be connected to matching personal loan and lenders. The only time you will need to pay is when you sign up with a certain lender.
The disadvantage of using Trusted Personal Loans is that you will only be shown lenders who pay for your information. Keep in mind that there may be better options available for you but you will need to find them on your own. Most people use Trusted Personal Loans to save time when shopping around. It may be worthwhile to inquire about options directly from the lender itself instead of using the Trusted Personal Loans website.
Trusted Personal Loans cannot answer any questions you have about the options provided to you. They are merely a connection service or an online portal that connects you two possibilities. Your loan terms and rates may vary depending on the lender you choose. Trusted Personal Loans is not responsible for providing any of the loan terms to you. Contacting them will not change your rates or terms.
The company does not offer services in all states. If your state is not registered with the company, then you will need to do your own shopping around for a personal loan. Using Trusted Personal Loans can save you time and effort when it comes to shopping for a loan. Here are some pros and cons of using the service.
Here are some of the pros and cons of working with The Trusted Personal Loans.
PROS of the Trusted Personal Loans
CONS of the Trusted Personal Loans
Conclusion about The Trusted Personal Loans
When you're ready to shop around for a personal loan, Trusted Personal Loans can help. The company is self-described as an online portal that connects you to lenders. They do not offer personal loans themselves. But they work with you to save time by connecting you to lenders.
It’s always a good idea to do your homework before making a big investment. Shopping around for personal loan on individual websites can be time-consuming. Trusted Personal Loans saves you time by connecting you to lenders you're eligible for. The service is 100% free to use. You will never be charged until you sign up with a lender.
The downside to working with Trusted Personal Loans is that you will only be connected to lenders who pay for your information. Other lenders may be better suited for you. But if they did not pay to be an affiliate with Trusted Personal Loans, then you will not be connected to them.
For this reason, Trusted Personal Loans always recommends that you do your own homework before settling on a loan provider. Your rates and terms may differ depending on your credit score and state you live in. Trusted Personal Loans cannot be contacted if you have questions regarding the options you were provided with.
Disclaimer
CreditNervana promises to keep our information as accurate and up-to-date as possible. However, you should always consult a financial advisor for specific questions about personal or business finances and investment opportunities, especially if you are looking in your area. Working with a trained professional who is familiar with your case is a safe and guaranteed way to make the best investment decision possible. Please review our terms and conditions before making any decision based on the information we provide. Financial institutions are constantly changing. Because of this, it’s a good idea to cross check the information you read here with any company you are considering working with.
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