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Should you pay a fee to get a loan?

Updated: 9/18/2023
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Stiles86

Lvl 1
13y ago

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Answer 1:

No, you should not. Many people have been ripped off in doing so. It's usually called an "Advance Fee" scam, where you send them money in the hopes of getting a loan - and then get nothing in return, or very little from what you expected, or at rates that are beyond belief.

Answer 2:

This actually depends on the type of loan you are requesting. Most personal loans have no fee, however, if you are trying to get a mortgage there are fees, and that is normal practice.

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