Loancleared.com offers fast, same-day online loans ranging from $500 to $3,000, repayable over 3 to 36 months. The site welcomes all credit histories and promises a quick online approval process with no impact on credit for the initial approval.
There are no hidden fees, and the entire process, including loan approval and funds transfer, is completed online. The APR rates for qualified customers can vary between 4.9% to 35.9%.
The legitimacy of Loancleared.com is in question due to concerns that it may be more focused on collecting user data than providing genuine loan services. This review highlights several red flags that suggest the company might not be as credible as it claims.
1. LoanCleared: Fake Physical Address
A red flag with LoanCleared is the use of a questionable physical address. Their Facebook page claims a U.S. location, but the page's managers appear to be in Thailand and the UK, raising doubts about the company's actual base.
LoanCleared might use a fake address for reasons such as creating a false sense of trust by appearing to be based in the US, evading regulatory oversight, concealing their actual operations, or protecting their privacy. Using a fake address raises significant transparency and trustworthiness concerns.
2. LoanCleared: Not Real Reviews
LoanCleared's Facebook page shows a high rating of 4.2 from 8 reviews, but these seem to be promotional comments rather than genuine customer feedback.
As you can see in the image below, the reviews are more like promotions or advertisements.
The presence of promotional-like comments on the LoanCleared Facebook page, perceived as reviews, may not necessarily be a red flag or the fault of the page administrators. It's common for public pages to attract unsolicited promotional content from third parties, which can sometimes be mistaken for genuine reviews.
This situation doesn't inherently reflect on the company's credibility or the authenticity of its customer feedback.
3. LoanCleared: No Phone Number
LoanCleared does not provide any phone number on its website or social media pages. This adds to the list of concerns about the company's legitimacy, raising questions about transparency and accountability.
Reasons for concern:
- Difficulty in communication: Without a phone number, reaching the company for any inquiries, concerns, or issues becomes difficult, potentially leaving you with limited options if you encounter problems.
- Lack of transparency: Reputable companies readily provide multiple contact channels, including phone numbers, to foster open communication and build trust with customers. Absence of a phone number suggests a possible reluctance to be directly contactable.
- Reinforces previous red flags: This adds to the concerns raised by the fake address and unauthentic reviews, creating a strong pattern of potential deceptive practices.
4. LoanCleared: Waste Of Time
After registering and providing your information, the website redirects you to another list of advertisement loan companies, as shown in the image below.
This may not meet the initial expectations of direct loan service from LoanCleared itself. This could be viewed as a waste of time for users seeking immediate loan solutions.
Conclusion
While LoanCleared.com advertises quick and easy loans, several red flags raise serious concerns about its legitimacy. These include:
- Questionable address: The company claims a U.S. location but appears to operate elsewhere, suggesting deception.
- Dubious reviews: Positive reviews seem like promotions, not genuine customer feedback.
- Missing phone number: Lack of phone contact raises transparency and accountability concerns.
- Redirection after registration: Instead of offering loans, you're directed to other lenders, suggesting data collection as their primary focus.
Given these red flags, it's strongly advised to exercise extreme caution before using LoanCleared.com. Consider researching alternative lenders with transparent practices, established customer reviews, and readily available contact information. Remember, prioritizing responsible financial decisions and seeking out trustworthy sources is crucial for your safety and well-being.
