Quick Answer: OneMain Financial’s loan mailers can hurt consumers by using misleading language like “Pre-Selected Certificate” which only means receiving an offer, not approval. The mailer emphasizes quick cash without clearly disclosing rates and terms, typical of high-interest storefront lenders that target vulnerable borrowers.
Today I’m reviewing a loan offer mailer from OneMain Financial. This offer is for what appears to be a store front high interest rate lender. We shall see if that holds true as I go with this review.
An amazing reader fitgal sent in a new debt relief mailer through my I Buy Junk Mail program.
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The phrase “Pre-Selected Certificate” really means nothing other than you’ve been selected to receive an offer, not that you are approved.
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The offer entices you to walk in and walk out today with the money. Still nothing apparent about rates and terms.
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The footnotes qualified in statement made in the last image are show to refer to offer details and restrictions.
I wonder how many people really take out a loan and then hold on to the money to return it within 14 days. What that statement does not say is if there would be no charge for a loan returned in 14 days.
The Back
Unfortunately I can’t read the important terms and conditions. If you get such an offer be sure to read and understand the terms and conditions carefully.
This offer was able to be reviewed because a kind reader sent it in via my I Buy Junk Mail program.
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