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Fairstone Personal Loans Review
21 Aug 2018

Fairstone Personal Loans

Fairstone personal loans is a way for you to obtain financial relief when tradition banks turn you down and payday loans don’t offer what you need. They are a loan company that offers you the personal loans you need when you need to have cash quickly. Fairstone personal loans can provide you a loan when you believe that you won’t qualify due to past credit issues.

The loan application can be done either in person or online and provide you with loan amounts up to $30,000.

You are interested if

You are a consumer seeking a personal loan and have any credit score. You want a loan that is proportional (in both total amounts and interest rates) to your credit history and ability to pay it off.

 

Key Points

Brief Description Fairstone personal loans have something for anyone who doesn’t qualify for traditional bank loans.
Limits and Deadlines You can borrow anywhere from $500 to $30,000 in installment loans with up to 60 months to repay.
Urgency As long as all your documents and information checks out, you can get your loan within 24 hours.
APR Range Their interest rates start at the standard 19.99% and go up from there depending on where your credit is at. Maximum APR rate is 39.99%.
Closing/Origination Fees There are no associated administrative loans either for closing or processing.
Early Payment Fees You have the option to pay off and cancel your loan within 14 days with no questions asked and if you choose to pay off your loan early, there will be no additional fees.
How to Contract the Product You can head over to the Fairstone website to get in touch with them. You can also go in and visit them at any of their locations or call and speak to a representative on the phone who can help you.
Main requirements To apply, you must have an active bank account and subject to a credit check and identity check. You must have an active bank account and be over the age of 18.

About Fairstone Personal Loans

Main Features

Being either for those in a lower income bracket or those who are in a higher income bracket, LendDirect personal loans can be better described as a company that caters every financial class. There is no ideal market for their loans as more and more people in any class are finding that they need the occasional loan to bridge gaps in their income. Fairstone carries an extensive range of lending options that come with highly flexible terms in amounts, repayment and interest rates. There is the potential for any ideal candidate to have a solution to their financial dilemmas. There aren’t that many lenders who have the flexibility that is offered by Fairstone, which gives them the competitive edge in the financial market. What mainly sets them apart as they have loan options for those who are struggling to rebuild their damaged credit.

Despite all the great qualities you can find with Fairstone personal loans, they still have some work to do in order to offer more to the lower credit classes This is due to the fact that some loan options do not immediately rectify financial issues that arise. This makes the possibility of anyone getting a good deal out of reach for them because bad credit luck and less income lead to secure loans and not financial relief, though regular payments are required, it takes you out of the running for any of their money upfront loans. Unfortunately, this means that if you have a substantially lower credit rating, you will not be able to get the immediate financial relief you may be looking for.

The repayment method is fairly straightforward as there are options for making payments. The primary way they collect payments from you is by setting up automatic payments from your bank account that will be taken the morning of each payment date. You will have no direct control over these payments, but you do have control over how many additional payments you make and how you make them. This stipulation has been put in place to make sure at least the minimum payments get made with the option to make additional payments at your own discretion. This being what it is, makes it easier for you to not have to worry about remembering to make your payments, but the bigger issue is if you lack the funds to make these payments on any given day. Then you are going to attain additional interest fees from Fairstone and the possibility of a fee from your bank as well. Any additional fees for missing payments are at the discretion of Fairstone. You should be aware that making payments on time is more ideal for you and your credit as they do report your payments and lack of, to the credit bureau.

Additionally, Fairstone personal loans have a few unique features that make them different from other lenders. There is the option to check your credit score for free through them and they offer a variety of personal financial options for you. Fairstone is customer focused with personal loan options for each financial class rather than an simple no. As such, the repayment is very flexible with a maximum term or 60 months, it’s simply if you have a balance, you continue to pay until the end of term. It’s that simple and since they do offer loans to those with very poor credit, that sets them apart from the competition.

More than that, Fairstone personal loans do offer less interest when you make additional payments beyond the recommended regular payments. This can help you by keeping more money in your pocket rather than giving it up in interest rates to the company. It is a great way for you to keep your money in your account rather than continually not reap the benefits of it because it is swindled away in interest charges. There is also the fact that their starting interest rates are ideal and on point for current lending trends.

How Does It Work?

Fairstone personal loans are quick and simple with an online process that makes it efficient for those who don’t want to spend hours applying for a loan. You simply take five minutes of your time to fill out the online application and submit to the required bank and identity checks that are fully secure and only offer confirmations of the information you have already provided. You also have the ability to go in branch or do the application via phone. Your application will be processed as soon as they receive the required feedback to your checks. After receiving the lending decision that includes the amount of your loan and all associated fees and rates, you can then receive your funds by direct bank transfer. You can get it within 24 hours via a direct bank deposit. This also depends on what time of day you fill out the loan application. Your loan may be delayed for next day processing if you only fill out the application near the end of business day.  As you pay down the balance of your loan, you will have the option to get additional cash advances up to your approved credit rating. This is a continual option for you as long as you have an open account with Fairstone personal loans. Additional options regarding your loan are to get a loan protection option to help you in the event that your financial situation changes and it becomes difficult for you to make your regular payments. This is a highly recommended option because it will also protect your credit from receiving any damages due to misfortunes.

Conclusions

Fairstone personal loans are dependable, comprehensive and relatively painless solutions to most of the money problems encountered by the average Canadian as well as a resolution to Canadians who have poor credit. Their rates can be some of the lowest available from online lenders if you qualify for their best possibilities. Those rates are also highly transparent and hide no extra fees, so you’ll have all the necessary information to make a smart decision about whether to take the loan when you receive your free quote. The entire process is very user-friendly and for the most part, mimics what you might find in a typical bank’s lending process.

Even those with lower credit scores who will not be granted upfront money loans, Fairstone personal loans have an offer may help you find it easier to work toward better credit with the company’s support and resources behind them. However, those starting from a truly vulnerable credit position will have to start their financial transformation without receiving money up front.

Fairstone: A Contender for Personal Loans on the Market

Fairstone personal loans have quickly made their name known across the Canadian market. They have helped thousands of Canadian achieve the financial security they have been looking for from poor to good credit. Since they have no specific limitations to their loans, they are the ideal lender for those who aren’t certain of their up-coming financial obligation. The main focus of Fairstone is offering you affordable personal loans to help you when you need it. Having established themselves as a reputable authority in the credit world, they desire to make it attainable for you to improve your credit score over time through the flexible use of their personal loan options. Having established themselves with a strong foothold in the Canadian loaning market, there is potential for them to continue to expand well into the future with their constant visionary thinking.

What We Think

Fairstone is an established and familiar presence in the loan industry, so if being a well-known company that has public recognition is something that matters to you, this company can be a decent choice for your lender. They can also offer a decent range of loan amounts that you might otherwise have difficulty coming up with. Their $30000 top lending amount can be difficult to achieve without the aid of multiple lenders. If you think there is potential that you would want to borrow again in the future, it can be worth your time to borrow from them as Fairstone personal loans will have established a history with you and built familiarity on the whole loan process. Borrowing from the same lender again will put you in a more favorable light as they already know they can count on you.

Being a lender that focuses on rebuilding credit, they may have difficulties catering to other potential customers who may need Fairstone personal loans. Having a tarnished credit history can put a hindrance on your ability to borrow from Fairstone personal loans as they only offer secure loans to those with poor credit. This will make them a poor choice for those who need the cash up front when better credit grants that like their peers have.

Overall, Fairstone personal loans is an ideal lender for when you are looking for personal loans. They do offer you a solution that is immediate with no real wait period between application and the arrival of funds. No matter what financial need you may have, their loans have no strings attached. Once the money is in your hands, you can do with it as you desire for whatever reason you might have wanted the money for.  For anyone with less than stellar credit and with a verifiable income that is the realm of their accepted sources, this is a great alternative for you to get quick cash to help you out of a sticky financial situation.