Are the 5k funds trustworthy?

[Donna]

Hey there,
I’ve been trying to get a loan for a while now, but I’m having trouble finding out how to do it. I have a good credit score and earn $35,000 a year.

I applied to three different places for a loan – OneMain, Happy Lending, and Rocket Loans – but they all turned me down because I don’t have much credit history.

Then I found a website called 5k Funds that seemed like a good option. I entered all my information on the site, but after doing that, I couldn’t see if my application went through or make an account.

When I searched for 5k Funds on Google, I couldn’t find it on the first page of results, and there weren’t many reviews from real people online.

Now I’m worried that I might have given my Social Security number to a scam website. I really need help figuring out how to get a loan for medical reasons.

[Bernie]

[5k Funds is a platform that connects borrowers with lenders, but it does not directly provide loans itself. Let’s explore further:

1. Legitimacy:

• Mixed Reviews: Customer reviews for 5k Funds are mixed. [Some users have had positive experiences, while others have faced issues.
• [Generally Regarded as Legitimate: While opinions vary, 5k Funds is generally regarded as legitimate. However, proceed with caution.

2. User Experiences:

• Negative Reviews: Several users report negative experiences:
  • Lack of Transparency: Some users were asked for banking information without knowing their loan approval status or interest rates 2.
  • [Communication Issues: Lack of responsiveness and unclear application status.
  • [Predatory Practices: Collecting extensive personal information, including bank details.
• Positive Reviews: A few users found success with 5k Funds 2.

3. Cautionary Steps:

• Check Your Bank Account: Monitor your bank account for any unusual activity.
• [Credit Karma: Be cautious when relying solely on referrals from platforms like Credit Karma .
• Alternative Options:
  • Credit Unions: Consider local credit unions; they may be more flexible with credit history.
  • Peer-to-Peer Lending: Explore peer-to-peer lending platforms.
  • Online Lenders: Research reputable online lenders with transparent terms.

4. Protect Your Information:

• Contact Your Bank: If you provided your Social Security number, consider contacting your bank to secure your account.
• Credit Freeze: Consider placing a credit freeze to prevent unauthorized access.

Remember, always prioritize your security. If something feels off, trust your instincts. Seek professional financial advice if needed.