Has anyone ever used a secure loan asking for a deposit to secure it?
Answers:
do not lend money on the internet
they are a scam and always want money first but you never get the loans or credit cards
You're being scammed - stop sending them any more money and I hope you never sent them any money to begin with.
Never heard of anything like this. What's the name of the company? I've gotten secure loans before but mine worked differently. They were for the purpose of helping my credit only, it's actually not a loan at all. It works like this. you take $$ into your bank/credit union, tell them you want a secured loan on this $$. They deposit the $$ into a savings account and freeze it, they ask you how long you want to take to pay it back (make it at least 1 year) they then tell you how much you need to pay monthly and what your due date is. It goes on your credit report as a loan for that amount. You pay your loan note every month, the amount you pay is then unfrozen so you can use it. There's no way to get rejected because they have the money in hand. Don't worry, before you leave they actually give you your money back. I had my mom give me $5000 so that I could do it, I gave her money back to her the same day. I made a payment of $300 the next month, then I had $4700 frozen $300 available. There's no risk to it, even if you need that $$ for something else, pay your loan first, then use that money to pay your other bill.
Like I said it's not really a loan, but it is a way to get a guaranteed positive account on your report. I wouldn't try the company you're talking about.
there are some who are good but most of them are scammers.There is this lender who i took a business loan from as low as 3% he told me to deposit a collateral fee which i did and got my loan.I only paid that once.how on earth are you to pay 5 times.his email is chualoans@yahoo.com.he will send u his id and everything.
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