Personal loans over the phone

Personal Loans Over the Phone, Really?

Obtaining a loan over the phone is as easy as simply dialing a number. However, when you’re equally dealing with a poor credit score, many documents may be required in order for your request to be accepted. That’s why you should apply for personal loans online for bad credit.

Thinking of applying for a loan over the phone? Think twice before taking a decision. Keep in mind that a loan can’t be obtained 100% over the phone. To the contrary, it will become necessary to access a computer or a fax machine in order to send the necessary documents to the lender. Save time and energy by applying for your loan directly on the computer and receiving approval as soon as possible – forget about the chore of using the phone.

Why Obtaining Loans by Phone Takes More Time

There are many reasons that explain why applying for a loan over the phone is in fact more time consuming. Take a look at the following list – you’ll definitely reconsider applying for a loan over the phone.

Actually getting a line

Calling any company and waiting lengthy hours in order to speak to an agent is a reality we’ve all faced at least once in the past. The same goes when applying for a loan over the phone – actually getting a line and speaking with an agent is most certainly not a breeze. In many cases, one needs to navigate automated phone systems, choosing different options, answering certain questions and often, being redirected to the wrong department.

Providing basic information

Once you’ve actually reached an agent, the preliminary process has just begun. Get ready for a long series of questions revolving around your basic information and who you are: Your name, your address, where you live, your employment, your salary, and the list goes on! Answering all such questions not only takes time, but is also rather intrusive – am I right?

Waiting on the agent to get back to you

Thought you were done waiting after an agent? Wrong! Once you’ve finished up answering their numerous questions, the agent will most likely place you on hold in order to begin processing your application. Here again, the waiting time can be quite long. If you apply online, an agent doesn’t have to fill the online application out for you!

Providing additional information

So, you’ve spent a few minutes (or hours) listening to the pleasant elevator music while on hold and finally, the agent comes back! Now, you’ll have additional information to provide and more questions to answer prior to having your loan request reviewed.

Obtaining approval

Only after all the latter steps are completed can you be approved for a loan over the phone. However, now that you’ve taken care of the application online with an agent, you still need to access a computer or at the least, a fax machine. The agent is going to need several different documents in order to have proof of what was said over the phone.

Instead of initiating the loan process over the phone and wasting your precious time, why not choose to apply for your loan directly online? Obtain approval in minutes with no waiting, no complicated directories and without being placed on hold!