How to Obtain Signature Loans by Mail
- 1). Pull a copy of your credit report. You need to exhaust all other financing options prior to seeking a by-mail signature loan. Pay for a copy of your FICO score, too--this is a three-digit number between 300 and 850 that represents your total creditworthiness. Do not apply for a signature loan if your credit is above 600 as you may still qualify for traditional financing.
- 2). Collect copies of your income documents (pay stubs, W2s)--you do not want to send originals. Ask your employer to fill out a verification of employment (most signature loan lenders require at least six months on the job). Many employers have these on-hand to provide to employees.
- 3). Find a signature loan lender. Most of these lenders are strictly online companies. Try to find someone who can refer you to a reputable signature loan lender. There are an inordinate number of these, but not all are ethical lenders.
- 4). Research any potential lenders at the Better Business Bureau (BBB). See Resources for a link to this site. This is a non-profit agency that rates and reviews businesses throughout the United States. An excellent BBB rating is "A."
- 5). Apply to a lender. Make sure to mail or fax in the documents found in the "Things You'll Need" section. You must state how much of a loan amount you are seeking. Do not sign the loan agreement that comes in the mail without very carefully reviewing it with a trusted advisor--like a family accountant or attorney.
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