Nemo

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It looks like the friendly little fish under the sea is a loan shark on the secured loans business. Harsh, I know but that’s the first thing that came to my mind when I saw reviews about this secured loan company. Nemo seems to have quite a bit of unsatisfied and unhappy customers. They seem to offer very low rates only to stab you in the back with ridiculous fees.

See this is where I stress again how important it is to have a broker that can explain everything to you including the fine print. A broker that cares will help you save a lot of money in the long run so never mind the small charge to have their service. On your own, a loan that has a very low interest rate may seem like a very good idea but there might be so many things in the terms and conditions that will cost you loads of money if you don’t pay attention to them.

Now going back to Nemo, The other problem that I saw about them on my research for reviews is the sad fact that they are not easy to work with if you encounter financial difficulties. Of course it is always our responsibility to keep up with repayments and make sure we meet our obligations with our debts but there are times that we face financial troubles beyond our control. It happens to the best of us and the last thing we need when it does happen is to have our creditor turn our back on us and let everything else crumble down. So instead of just having a few difficult months, you may end up losing your home, your vehicle or whatever collateral you put up for your loan.

It is heartbreaking to read the stories of dissatisfied Nemo customers, really. Instead of helping those in great need, it looks like they are trying to take advantage of the situation. Everything is all good at the time of application and then surprisingly, a couple of years later, there are all sorts of fees and charges on your account, which almost doubles the amount you owe.

If you want to read the reviews on your own, check out http://www.reviewcentre.com/reviews111585.html. On the reviews, you can see specific examples of how ridiculous the loan amounts have become over a short span of time. Yes there are many loans that have very high interest rates so you at least could expect that to happen from the start. If you have bad credit for example, it is normal to expect high interest rates. But if you get offered very low interest rates at the time you take out the loan and end up having to pay an amount beyond what you expected, it could have very grave repercussions to your financial situation. It could simply come and slap you in the face and then you suddenly realize you’ve been scammed! It always pays to do your homework, doesn’t it?

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