Is Spot Loan real?

Is Spot Loan real?

Spotloan is an online loan company owned by BlueChip Financial, a tribal lender that offers short-term personal loans with fixed payments. Spotloan offers loan amounts that range from $300 to $800 with repayment terms of up to 10 months.

How do I stop payday loan calls?

Stopping the Phone Calls If you’re getting annoying phone calls about a payday loan debt that you owe, you can send a cease-communication letter to the payday loan company or its debt collection company, and the calls have to stop. The letter can say something simple like, “Don’t call me at work or home.

Will payday loans negotiate?

Some, but not all payday lenders will negotiate with you. At the end of the day, they care most about getting their money back. Some have a strict no-negotiation policy, and others will only negotiate if you stop payments and can demonstrate that you really can’t pay. Either way, it does not hurt to ask.

Does Spotloan report to credit bureau?

Does Spotloan report payments to credit companies? No, Spotloan doesn’t report monthly payments to the three main credit bureaus.

Can you pay a Spotloan off early?

Spotloans are short-term installment loans, which means you pay back your loan over time. You choose how long you want to pay the loan back – anywhere from three to ten months. Plus, you can pay your loan off early with no prepayment penalties.

Can payday loan companies harass you?

No lender, even a strip-mall cash advance company, is allowed to harass and threaten you in an attempt to collect a debt.

Can payday loans harass me at work?

Under the US law, your payday lender can’t repeatedly call or harass you. The lending company can’t threaten to increase your debt that’s beyond the interest that you agreed. It can’t also threaten to put you in jail or call you before business hours.

What is the average fee amount for a payday loan?

Payday loans generally charge a percentage or dollar amount per $100 borrowed. The amount of this fee might range from $10 to $30 for every $100 borrowed, depending on your state law and the maximum amount your state permits you to borrow. A fee of $15 per $100 is common.