You definitely need a cosigner if you are getting rejected for any new loan or credit line.
A cosigner helps you to achieve a better chance of credit approval, by giving a guarantee to the lender or creditor, that the debt borrowed will be surely paid off.
This promise or guarantee is a big factor for any financial institution to sanction a loan or credit line. A cosigner is needed if you don’t have a fool proof credit history, or if your credit score is not good enough in the eyes of a lender.
But, finding a cosigner can get very difficult, if the people you know are not having good credit profile themselves, or if they are not willing to become a guarantor for your debt accounts. This is when people search for online cosigners, and want the help of third party cosigner service providers, so as to get loan and credit line approvals.
Still, the question that surfaces our minds, is that whether or not it is safe to get help from online cosigners.
It can either be a trap, or it can turn out to be really beneficial for you. Whatever it is, you can sit back with a relaxed mind and go through this post, to know if you should you be hiring cosigners online. After you are done reading, you can very well decide your options and act accordingly.Oak View Law Group has always helped people struggling with debts. Even though OVLG does not help consumers to get new debts, still this topic was suggested to us by our content contributors, and it seemed, that this subject needed some detailed discussion. That’s because, there are cases where people got help of online cosigners to pick up some big debt accounts, and then either benefitted or got ruined, by both the debt amount and the fees, charged by the online cosigner providers. Trust is the spine, when it comes to any online finance related services. Since you are dealing with everything in the virtual online world, it is not easy to assert that a service offered is genuine.
The two most used online services, that help you to get co-signers, are Hire A Cosigner, and Cosigner Finder. If you just type in ‘Online Cosigner’, you will be seeing the name of these two sites popping up.
You will be given an application form to fill up. There, you will be putting in your details, including your mail address, location, phone number, and reasons to why you need to hire a cosigner.]
Once you complete the application, you will be redirected to a fee selection page, where you need to select the fee amount, depending on how fast you need a cosigner, within one week, two weeks, and so on. These sites typically function as any other social networking site. After you have selected the payment amount, you will enter a forum hub, where you can interact with other members, and select your cosigner after having a detailed talk with the person.
You won’t be charged any fee, till you have everything worked out with your preferred cosigner, and have the loan or debt account approved.
First thing is, an online co-signer service will be charging you a fee.
You will be entering your card details and other valuable personal information to their database. This means they can easily manipulate you!
Next in line, this is a peer to peer helping deal. You will be contacting other members of the service site. How would you know that whether or not a member is fraud?
The person, who is your soon to be co-signer, may later blackmail you with your personal information in so many ways, one can never imagine.
If you are using online services, then you should find co-signers within your region or state. You should also meet this person face to face, and see for yourself how real this person is.
If any member is not wishing to meet you in person, then you should not be relying on this man.
In fact your best co-signer should always be a person whom you know for a long time. If required you can convince your family members, friends, or spouse, a little more.
It is always better to work with close acquaintances, where the trust factor is not much of a problem.
At-least it is far way better than leaking your personal and financial information to a totally unknown third party.