LoanFinder – Is it a Scam ?

As desperate as people get in regard to making a loan to be able to do their duties and/or make ends meet, people can do about anything and something unaware of the kind of information they display or rather give away to these companies.

There  has been a lot of complains about LOANFINDER – and people think it’s authorised financial services provider and registered credit provider whereas it’s merely just a referral, so LoanFinder is a real company however their deductions and unexplained monthly fees are the one’s discrediting their honestly. They never explain the fees.

“We know that looking for the right loan can be tedious and stressful. So we decided to take the hassle out of looking for a loan by doing it for you. Because we know you have better things to do with your time. Over the years LoanFinder have built steady relationships with moneylenders and brokers in South Africa. While applying with LoanFinder, our system automatically matches you up with our best moneylenders and brokers based on the information you’ve provided.”

Wrote LOANFINDER – After a number of complains, I find the clause as been added to the website –

“At LoanFinder we offer a 4-in-1 Plan. You get access to our free loan-finding service immediately, our 24-hour Legal and ID Assist service upon completion of your application, quarterly comprehensive credit reports and a financial counselling programme for an affordable fee. The money we have deducted from your account is the once-off initiation fee of R395 for our 4-in-1 plan. LoanFinder will only debit your account if you have expressly given us permission to do so. If, for some reason, you feel that this money was taken from you in error, or you suspect fraudulent activity with your personal details, please contact us.”

Unless you are aware of the once-off initiation fee of R395, and the monthly fees thereafter, don’t use this service, It’s not a scam but knowing is best.


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