WithU Loans is a direct-to-consumer lender that offers small personal loans to borrowers with bad credit. The company was founded in 2016 and is headquartered in Oklahoma City, Oklahoma. WithU Loans offers loans ranging from $500 to $10,000 with repayment terms of up to 36 months.

WithU Loans is a popular option for borrowers with bad credit because it does not require a credit check to qualify for a loan. The company can also approve and fund loans in as little as one business day, making it a good option for borrowers who need money quickly.

However, it is important to note that WithU Loans charges high interest rates, ranging from 159.99% to 539.99% APR. This makes WithU Loans a more expensive option than other lenders, such as banks and credit unions. Additionally, WithU Loans only offers repayment terms of up to 36 months, which may not be enough time for some borrowers to repay their loan in full.

Overall, WithU Loans is a good option for borrowers with bad credit who need money quickly. However, borrowers should be aware of the high interest rates and short repayment terms before borrowing from WithU Loans.

In this article, we will take a closer look at WithU Loans reviews, including what customers have to say about the company’s interest rates, customer service, and overall experience. We will also discuss the pros and cons of borrowing from WithU Loans and offer some alternatives for borrowers to consider.

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WithU Loans Interest Rates and Fees

What are WithU Loans interest rates?

WithU Loans interest rates vary depending on the borrower’s credit score and loan term. However, in general, WithU Loans interest rates are higher than those of traditional banks and credit unions. For example, a borrower with a good credit score may be able to qualify for an interest rate of 5% from a traditional bank, but they would likely pay an interest rate of at least 10% from WithU Loans.

What are WithU Loans fees?

WithU Loans charges a variety of fees, including:

Origination fee: This is the fee for processing the loan application. The origination fee is typically 2-5% of the loan amount.
Late payment fee: This is a fee charged if the borrower makes a late payment. The late payment fee is typically 5% of the missed payment amount.
NSF fee: This is a fee charged if the borrower’s bank account does not have enough money to cover a loan payment. The NSF fee is typically $25.

How do WithU Loans interest rates and fees compare to other lenders?

WithU Loans interest rates and fees are generally higher than those of traditional banks and credit unions. However, WithU Loans may be a good option for borrowers who have poor credit or who need access to cash quickly.

Here is a comparison of WithU Loans interest rates and fees to those of other lenders:

Lender	Interest rates	Fees
WithU Loans	10-36%	Origination fee: 2-5%
Traditional bank	5-10%	Origination fee: 1-3%
Online lender	8-20%	Origination fee: 1-5%

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It is important to note that this is just a general comparison. Interest rates and fees can vary depending on the lender and the borrower’s individual circumstances. Be sure to compare offers from multiple lenders before choosing a loan.

WithU Loans APR

What is WithU Loans APR?

WithU Loans APR stands for Annual Percentage Rate and is the total cost of borrowing money from WithU Loans, including interest and fees. WithU Loans APRs range from 159.99% to 539.99%.

How does WithU Loans APR compare to other lenders?

WithU Loans APRs are significantly higher than the APRs offered by most other lenders. A personal loan from a bank, for example, has an average APR of 10.73%, but a personal loan from a credit union has an average APR of 9.22%.

Why are WithU Loans APRs so high?

WithU Loans APRs are so high because the company targets borrowers with bad credit. Borrowers with bad credit are considered to be a higher risk, so lenders charge them higher interest rates to compensate for the risk.

What should borrowers do about high WithU Loans APRs?

Borrowers who are considering taking out a loan from WithU Loans should carefully consider their options and compare APRs from other lenders. If possible, borrowers should try to qualify for a loan from a bank or credit union, which typically offer lower APRs.

Alternatives to WithU Loans

There are a number of alternatives to WithU Loans that borrowers with bad credit may want to consider. Among these options are:

Secured personal loans: Secured personal loans are backed by collateral, such as a car or home. This makes them less risky for lenders, so borrowers with bad credit may be able to qualify for a secured loan with a lower APR than an unsecured loan.
Payday loans: Payday loans are small, short-term loans that are typically repaid on the borrower’s next payday. Payday loans can be a good option for borrowers who need money quickly, but they should be used with caution, as they typically have very high interest rates.
Credit unions: Credit unions are not-for-profit financial institutions that offer a variety of financial products, including personal loans. Credit unions typically offer lower interest rates on loans than banks, and they may be more willing to lend to borrowers with bad credit.

WithU Loan Reviews

What do customers say about WithU Loans?

WithU Loans has a mixed reputation among customers. The company has a rating of 1.6 stars out of 5 on Trustpilot, with many customers complaining about high interest rates, poor customer service, and difficulty canceling loans.

Here are some instances of consumer feedback:

“I borrowed $1,000 from WithU Loans and now I owe over $3,000. The interest rates are ridiculous and the customer service is terrible.”
“WithU Loans is a scam. They charge hidden fees and make it impossible to cancel your loan.”
“I would not recommend WithU Loans to anyone. They are a predatory lender that targets people with bad credit.”

However, there are also some customers who have had positive experiences with WithU Loans. Here are some instances of favorable client feedback:

“I was able to get a loan from WithU Loans even though I have bad credit. The interest rate was high, but it was the only option I had. I was able to repay my loan on time and build my credit.”
“WithU Loans was helpful when I needed money quickly. The personnel was kind, and the procedure was simple”
“I am happy with my experience with WithU Loans. I was able to get a loan even though I have bad credit. The interest rate was hefty, but it was worthwhile to obtain the funds I required.”

Overall, it is important to note that WithU Loans has a mixed reputation among customers. Some customers have had negative experiences, while others have had positive experiences. Borrowers should carefully consider the pros and cons of borrowing from WithU Loans before making a decision.

What are the pros and cons of WithU Loans according to customers?

Pros:

No credit check required
Fast funding
Flexible repayment terms

Cons:

High interest rates
Short repayment terms
Negative customer reviews

Conclusion

WithU Loans is a good option for borrowers with bad credit who need money quickly. However, borrowers should be aware of the high interest rates and short repayment terms before borrowing.

Does WithU Loans Report to Credit Bureaus?

Does WithU Loans report on-time payments to credit bureaus?

Yes, WithU Loans reports on-time payments to the three major credit bureaus: Equifax, Experian, and TransUnion. This means that making on-time payments to WithU Loans can help you improve your credit score.

Does WithU Loans report late payments to credit bureaus?

Yes, WithU Loans reports late payments to the three major credit bureaus. This means that making late payments to WithU Loans can damage your credit score.

Why is it important to make on-time payments to WithU Loans?

Making on-time payments to WithU Loans is important for two reasons:

It can help you improve your credit score. A strong credit score might help you qualify for lower-interest loans and other financial goods.
It can help you avoid late payment fees. WithU Loans charges late payment fees of up to $50.

What should borrowers do if they are unable to make an on-time payment to WithU Loans?

If borrowers are unable to make an on-time payment to WithU Loans, they should contact the company immediately. WithU Loans may be able to work with borrowers to create a payment plan that they can afford.

Conclusion: Report to Credit Bureaus

Making on-time payments to WithU Loans is important for improving your credit score and avoiding late payment fees. If you are unable to make an on-time payment, contact WithU Loans immediately to discuss your options.

Please note: WithU Loans has been accused of predatory lending practices, and borrowers should carefully consider the pros and cons of borrowing from this company before making a decision.

Is WithU Loans Legit?

Is WithU Loans a licensed and regulated lender?

Yes, WithU Loans is a licensed and regulated lender in all 50 states. The company is licensed by the National Multistate Licensing System (NMLS) and is a member of the Online Lenders Alliance (OLA).

What are the risks of borrowing from WithU Loans?

The main risks of borrowing from WithU Loans are the high interest rates and short repayment terms. WithU Loans APRs range from 159.99% to 539.99%, which is significantly higher than the APRs offered by most other lenders. Additionally, WithU Loans only offers repayment terms of up to 36 months, which may not be enough time for some borrowers to repay their loan in full.

Another risk of borrowing from WithU Loans is the company’s reputation. WithU Loans has a mixed reputation among customers, with many customers complaining about high interest rates, poor customer service, and difficulty canceling loans.

Bottom line: Is WithU Loans Legit?

WithU Loans is a licensed and regulated lender, but it is important to be aware of the risks of borrowing from this company. The high interest rates and short repayment terms can make it difficult for borrowers to repay their loans. Additionally, WithU Loans has a mixed reputation among customers. Borrowers should carefully consider the pros and cons of borrowing from WithU Loans before making a decision.

Please note: I would recommend that borrowers consider other options before borrowing from WithU Loans. There are a number of other lenders that offer personal loans to borrowers with bad credit at lower interest rates and with longer repayment terms.

WithU Loans Scam

Are there any reports of WithU Loans scams?

Yes, there have been reports of WithU Loans scams. Some borrowers have reported that they were charged hidden fees, that it was difficult to cancel their loans, or that they were harassed by the company’s debt collectors.

For example, one borrower reported that WithU Loans charged them a $50 origination fee and a $25 late payment fee, even though the company’s website does not disclose these fees. Another borrower reported that they were unable to cancel their loan, even though they contacted the company multiple times. And still another borrower reported that they were harassed by the company’s debt collectors, even though they were making on-time payments.

How to avoid WithU Loans scams

There are a few things that borrowers can do to avoid WithU Loans scams:

Before signing the loan agreement, thoroughly read everything.. Make sure you understand all of the terms and conditions of the loan, including the interest rate, repayment terms, and any fees.
Be aware of hidden fees. WithU Loans has been accused of charging hidden fees, such as origination fees and late payment fees. Be sure to ask about any potential fees before signing the loan agreement.
Know your rights. Borrowers have certain rights under the law, such as the right to cancel a loan within three days of signing the agreement. Make sure you are familiar with your rights before borrowing from WithU Loans.
Report any scams to the authorities. If you believe that you have been scammed by WithU Loans, you should report the scam to the authorities, such as the Consumer Financial Protection Bureau (CFPB) or the Federal Trade Commission (FTC).

Bottomline: WithU Loans Scam

There have been reports of WithU Loans scams. Borrowers should be aware of these scams and take steps to avoid them. If you believe that you have been scammed by WithU Loans, you should report the scam to the authorities.

How Long Does WithU Loans Take to Deposit?

How long does it take for WithU Loans to deposit funds into my account?

Factors that can affect the time it takes for WithU Loans to deposit funds

There are a few factors that can affect the time it takes for WithU Loans to deposit funds into your account, including:

The type of bank account you have. If you have a bank account at a major bank, you may receive your funds sooner than if you have a bank account at a smaller bank or credit union.
The time of day you apply for a loan. If you apply for a loan after the bank has closed for the day, you may not receive your funds until the next business day.
The number of loans that WithU Loans is processing. If WithU Loans is processing a large number of loans, it may take longer for you to receive your funds.

What to do if you have not received your funds within one business day

If you have not received your funds within one business day of WithU Loans approving your loan, you should contact the company to inquire about the status of your deposit.

Bottomline: How Long Does WithU Loans Take to Deposit?

According to WithU Loans, monies can be deposited into your account within one business day of your loan being approved. However, some borrowers have reported that it took longer for them to receive their funds. If you have not received your funds within one business day, you should contact WithU Loans to inquire about the status of your deposit.

WithU Loans Lawsuit

Have there been any lawsuits against WithU Loans?

Yes, there have been several lawsuits filed against WithU Loans. Borrowers have accused WithU Loans of predatory lending practices, such as charging high interest rates and fees, and targeting borrowers with bad credit.

For example, in 2022, a group of borrowers filed a lawsuit against WithU Loans alleging that the company violated the Truth in Lending Act (TILA) and the Consumer Financial Protection Act (CFPB Act). The borrowers alleged that WithU Loans charged them hidden fees and that the company’s website did not accurately disclose the terms and conditions of its loans.

The lawsuit is still ongoing, and it is unclear when it will be resolved. However, the lawsuit is a reminder that borrowers should be aware of the risks of borrowing from WithU Loans.

Summary: WithU Loans Reviews

WithU Loans is a direct-to-consumer lender that offers small personal loans to borrowers with bad credit. The company has a mixed reputation among customers, with some customers complaining about high interest rates, poor customer service, and difficulty canceling loans.

Borrowers should carefully consider the pros and cons of borrowing from WithU Loans before making a decision. Some of the potential drawbacks of borrowing from WithU Loans include:

High interest rates
Short repayment terms
Negative customer reviews
Potential for scams

If you are considering borrowing from WithU Loans, I recommend that you compare their rates and terms with other lenders before making a decision. There are a number of other lenders that offer personal loans to borrowers with bad credit at lower interest rates and with longer repayment terms.

Here are some tips for finding a personal loan lender:

Shop around and compare rates and terms from multiple lenders.
Get pre-approved for a loan before you apply. This will show you how much you may borrow and how much your monthly payments will be.
Read the loan agreement carefully before you sign it. Make certain that you understand all of the loan’s terms and conditions, including the interest rate, payback periods, and any fees.

If you are having trouble finding a personal loan lender, you may want to consider working with a credit counselor. A credit counselor can help you assess your financial situation and develop a plan to improve your credit score.

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