Since the boom of the digital era, "fast cash" schemes and quick payday loan advertisements seem to follow us with every click. Many of our clients have fallen victim to these financing models, thinking that they only need a small amount that they can pay back quickly. Unfortunately, when all is said and done, they often end up paying back many times more than what they originally borrowed. While laws have changed over the years to crack down on predatory lending, it has not stopped the practice from taking place. Instead, it has forced the lenders to get more creative in the way they operate.
Before we proceed any further, we want to make it abundantly clear that at Renovo Consulting LLC, we do not endorse, nor do we work with any predatory lenders. In most circumstances we do not encourage or condone even applying for a personal loan as there are many other options available. However, we are aware that in certain circumstances, upfront capital is necessary to provide necessary purchasing power. For that reason alone, we have developed our personal and individual loan programs.
Most anyone who has ever made a major purchase has gone through at least one of the personal loan processes, generally through a major bank. Purchasing a car, for example, is a type of personal secured loan where a bank lends an individual money to make the purchase and holds the title of the vehicle as "security" of the investment until the loan is paid off. Anyone who has used a credit card to make a purchase should also be familiar with the second most common type of loan, which is unsecured. Unsecured loans occur when capital is provided to an individual on the merits of their own credit history and financial stability. There is no tangible security available for the lender to hold as collateral for the money being lent out. Generally unsecured loans are offered at a much higher interest rate, meaning the total paid back generally far exceeds the amount borrowed.
Unfortunately, the lenders who provide unsecured loans and debts have made it very easy to dig into a financial hole. Attend any college fair and one of the first things you will see are credit card companies offering "student cards" to freshmen. More often than not the students who take these cards will have them maxed-out by the end of the first semester and will be seeking a limit increase or a second card. Did you know, the average American has more than $90,000 in outstanding loan debt accruing interest charges daily? Don't worry if this scenario applies to you, we promise you are absolutely not alone.
Renovo Consulting LLC works with every client on an individual basis to assess overall financial needs and goals. We do this in order to develop a cohesive plan to overcome challenges and provide financial security. Sometimes, in order to effectively service the plans we develop, personal loans are necessary to consolidate debt and reduce overall interest charges.
Renovo Consulting LLC has partnered with more than 2 dozen of the nation's largest and most reputable financial institutions so that when the situation requires a personal loan, we can guarantee the best and most fair results. Our unique process enables us to provide loan quotes to our clients without ever needing to hand out personal information. We build a risk assessment and blind profile that gets submitted to our partners; our partners then provide offers based on the blind profile to be presented to our clients. Once our clients decide on the best option for them, only then is their information submitted to the lender of their choosing. This shields our clients from unwanted spam calls as well as unnecessary hits on their credit report.
You are probably wondering how we can offer this service for free to our clients, the answer is simple. We have negotiated a set rate with dozens of lenders, meaning when our clients agree to go with a lender of their choosing, that lender pays our fees instead of it falling on the client. These fees are not included in the loan and do not fall back on the clients themselves. Instead the lenders are paying us for doing the setup and risk assessments for them. Our fees are based off of set criteria so it is not a commission based scheme where the brokers will try to sway you one way or another based off of higher commissions. We make the same amount no matter which lender you choose!
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