Recently, many online lenders emerge on the internet but some of them just trap and cheat the borrowers. This case causes anxiety for people who want to use these services until appearing a question about Eagle Financial loan. “Is Eagle loans legit?” becomes the first query when they find and want to join it.
A lot of online lender services come with tempting offers at the beginning but they finally extort clients’ money. Besides losing much money, the borrowers also often threatened to go to jail because they have signed the agreement. Let’s browse this loan service in detail together in order so you do not trap in a scam!
Closer Acquaintance With Eagle Loans
The question of “Is Eagle loans legit?” can be answered by knowing the loan service in detail. Eagle Finance, Eagle Financial Services, INC., or Eagle Financial Personal Loan is an online lender based in Indiana, Ohio, Kentucky, and Tennessee. It is an installment loan offering from $1000 to $10000 by repaying between 8 and 24 months. Surely, it is a good offer but the good news is more than that. Eagle loan service is willing to help people with a bad history of bankruptcy and bad credit. However, the terms and conditions remain valid to find out if the client is qualified or not.
Eagle lender such as has two sides in servicing its clients so it sometimes sounds confusing. This loan service offers short payoff terms indeed that move as an alternative payday and title loans. But, you should be careful before deciding to take the loan because you cannot know the rates or fees it charges before applying for the loan. Luckily, Eagle loans open online registration just in a few minutes.
Is Eagle Financial Services Legal And Safe?
Is Eagle loans legit? Well, it is the most important question which needs the answer immediately. The loan company established in 1994 is safe and legal tough no ensure information is 100% secure. At least, Eagle loans have an official website and always warns borrowers to beware of scams. Besides that, the company never asks the borrowers to send money orders or cash as a condition of their approval.
People usually feel relief and believe their intention to borrow some money from honest lenders is like it. But, do not directly decide because some risks may happen in the future. You should hear the advantages and disadvantages of Eagle Financial Services before you regret or unexpected charge.
Advantages and Disadvantages of Joining Online Eagle Loan
Strengthen the answer to “is Eagle loans legit?” through learn the advantages of this online lender. Okay, look at below:
- Provide all credit types
The Eagle loan is willing to receive people with less-than-perfect credit as long as they have an appropriate qualifications. The loan range between $1000 and $10000 is relatively small and the installment period is quite short.
- Eagle receives collateral
Honestly, Eagle financial service includes the collateral-free online lender service. Even though, it keeps receiving the collateral such as car, home, and others to increase your chances of approval.
- Receive borrowers with past bankruptcies or bad credit
As been said before, the company serves people with bad credit or bankruptcy history under the terms and conditions.
- Co-applicant accepted
It is good news for you who are not qualified for the loan because of the bad credit. The lender allows you to apply for co-applicant with solid credit.
- Fast and easy registration
The borrowers can apply for a loan online on both website and phone if they are far from the nearest local branch. After that, you may go to the closed local branch to sign up for the document after getting approval.
Meanwhile, the disadvantages of joining the Eagle loans service are:
- Rates and fees are not transparent
It turns out that Eagle finance does not want to open the rates and fees to the borrowers before they apply. This case often emerges the inquiry of is Eagle loans legit again. Moreover, you never know the potential cost of a loan or whether you’re likely to qualify at all.
The lender seemly accidentally does not inform the transparency of rates and fees on its website to give a double-whammy. It does not provide a chance to apply for prequalification. With the non-transparency system likely you get high APR and fees also your credit scores will take a hit. How could it happen? It is because the application will cause a hard credit inquiry.
- Bad customer review
The poor review from the former borrowers said the lender company removed their unwanted credit insurance. Alongside that, they complained about the high orientation fees.
- Not online entirely
Eagle Financial Services provides fast application in three ways but it is not online entirely. The company offers easy and quick applications via the website, phone, or in-person at a local branch. However, you have to visit the closed branch to sign the loan document and receive your fund.
- Slow turnaround
Although the registration just needs a few minutes, you cannot get your approval directly. It asks you for waiting for 24 hours to know the decision while a lot of other lender services inform it in minutes.
- Just available in four states
Up to now, Eagle Financial Services, INC. is still available in four states such as Indiana, Kentucky, Tennessee, and Ohio. You must choose one of those states closed to you to visit the local branch.
- Potential collateral loss
Your collateral is secure as long as you pay the installment on time but it is so risky for people with bad credit or bankruptcy. They might lose their collateral when they cannot repay it on time.
Once more, this article reminds us about the rates and fees that are not advertised on the official Eagle’s website. It can be a red flag for the borrowers and causes a complaint in the future. Therefore, keep be careful and consider properly when finding the payday loan alternatives like this.
How to Apply for Eagle Financial Service
Do you quite convince to apply for a loan in Eagle Financial Service? It does not matter if you have been sure with your decision and can face or avoid the risk. A lot of people had tried this online lender and most of them feel satisfied with the service. It implies the advantages and disadvantages just some points to consider and it might answers “Eagle loans legit”. By the way, the following are the steps to apply for the online process:
- Visit Eagle loan’s website and click Apply Here.
- Fill in the blank about your loan amount, loan purpose, and ZIP code.
- Afterward, it asks you for checking the application personally or with a co-applicant.
- Later on, you have to click Apply Now after you hear about Eagle
- Fill in your detailed personal information and employment
- Click Submit
Remember, you must visit the local branch after getting approval and receiving money. However, both direct and online application needs your documents such as benefits statements or a recent pay stub as your income proof. It asks you for showing your utility bill, address proof, debit card, account statement, and the government-issued ID. If you use your car as collateral, you have to give your lien-free car title. In addition, the Eagle loan lender just
receives applications for people with permanent residence or US citizens the age of at least 18 years old.
Little Bit Advice Before Joining Short-Term Payday Loan
Short-term Payday loan service like the Eagle loan service sounds seductive and helpful. Hence, the applicants should remember and be careful about the hidden rates and fees. It will be a trap to make the second or three loans when the borrowers cannot pay them off on time. The cycle of debt is usually difficult to stop and makes the interest higher. So, is Eagle loans legit?
Therefore, it is so essential to check the lender provider including the Eagle loans about the payment extensions. You can talk about the extensions or longer payment plans if you’re behind on payments. If you less believe in online lenders, it is better to look for government agencies, local resources, nonprofits, and local charities. They often offer free food services, rent, utilities, and financial services for those in need.
Avoid Online Lender To Free-Debt Live
People are occasionally trapped by online loans because of the tempting advertisement. Numerous lender companies suddenly contact you by phone or email to offer a loan. Early, you do not have the desire to take it but their advertisement is so strong and shakes your faith to live without debt.
On other hand, online loans come to people who really need debt or ever search about it on the internet. Anything the reason, it is dangerous when you cannot control yourself to not tempt the offer. You should avoid it live without debt by implementing the following steps:
- Build large saving
Don’t forget to save money or invest it in other stuff to fulfill your future need. It helps you to save from the lender which may trap you with the rates, fees, and interest.
- Pay off your credit card on time
The history of a bad credit card usually begins with the late credit card installment. The Eagle loan service receives people with bad credit but you should not use this online lender. You should pay off your credit card immediately or on time pretty to avoid the scam lender.
- Choose a used car or buy cheap
Do not follow your desire if you cannot fulfill it such as a quiet ride in your used car or buy it cheaply. A high lifestyle often makes people forget about their income until involving a loan.
If your money or income is just enough for rent, do not be shy to make this choice. Rent house or car will save you money that you can use for building a business or emergency fund.
- Live modestly and buy what you need
The last for avoiding loans both online and offline is by undergoing modest life. Besides that, only buying what you need and not you won’t prevent you from an extravagant lifestyle.
Extravagance, a high lifestyle, and online loan offers are some of the things that can get you stuck in the debt cycle. Get rid of living based on your ability and feel comfortable in life.
Is Eagle loans legit? Seemly, you can answer it alone after getting detailed information about this online lender. The article has explained the advantages and disadvantages of the lender including the hidden rates and fees. It does not matter if you are sure to take this service because Eagle Financial Service, INC keeps reminding you about the fraud on its website. It implies you cannot value it just from one side but more. If you are not convinced by the online offering, you may visit the nearest local branch for more information. Thank you for reading. Good luck!