Choose a lender the smart way

Your coaches explain the importance of using a responsible lender and then give you tips on how to identify one.

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Always be careful when selecting a lender. A responsible lender can help you gain financial flexibility and achieve your goals. Unfortunately, there are a few lenders you should watch out for. Image Description
It’s called predatory lending. Anyone can be a target, but knowing the warning signs to look for can help you to avoid being a victim. Image Description
How do you find a responsible lender? Look for an established company with a good reputation. Ask a money-savvy friend, family member, or work associate for a referral. Or, ask your local banker or employer. Image Description
Only work with lenders who answer all your questions, who put everything in writing, and who give you time to shop and compare costs and rates before you sign a loan agreement. These are all good signs of a responsible lender. Image Description
You’ll have to live up to the terms of the loan agreement you sign, so it’s critical that you understand exactly what you’re signing and avoid predatory lenders. Ask your financial or legal advisor to help you. Image Description
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The basics of loans Compare the terms Compare interest rates The loan process Choose a lender the smart way Warning signs to watch out for You’re at risk Scenario: Choosing a lender If the lender says no… Scenario: Managing a loan