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World Finance Corporation

Valued Member

World Finance Corporation

I got a preapproval loan app from World Finance Corporation.  Has anyone ever heard of this company.  Apparently they have a local office in my city.  I'm not interested in the loan, but since this is the first time I've ever gotten a preapproval for a loan in the mail, thought I'd check it out.

Message 1 of 4
3 REPLIES
Senior Contributor

Re: World Finance Corporation

IMO, stay away from them, very high interest rates.

 

Also this is a company, where people go to when they can't get credit anywhere else.

 

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Message 2 of 4
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Valued Member

Re: World Finance Corporation

I agree. Stay away. They're loansharks.


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Message 3 of 4
Community Leader
Legendary Contributor

Re: World Finance Corporation

Pre-approval is not approval, but rather a way to offer credit, pull your file, and see if they like it.  They want to get the consumer to apply, this giving them a permissible purpose to pull your entire credit report.

 

In making their unsolicited offer for credit, they only received your name and address from the CRA.  They cant get more without enticing you to give them a permissible purpose.  Its why many opt-out.

Message 4 of 4