alterfina.ca Scam Check: 10/100 Trust | ScamMinder

Exercise caution when interacting with this website.

The website content and the information provided are typical of those found in predatory lending or loan shark operations. Here are some red flags: High-Interest Rates: The website mentions an annual interest rate (TAEG) of 18.99%. This is extremely high, especially for personal loans, and is a common characteristic of predatory lending. No Credit Check: The website emphasizes that they don't perform credit checks. While this might sound appealing to those with poor credit, it's a common tactic used by predatory lenders to attract vulnerable individuals. Quick Approval and Disbursement: They claim to approve applications within an hour and provide same-day deposits. This is often a tactic to pressure individuals into making hasty decisions without fully understanding the terms. Flexible Repayment: While flexible repayment terms can be a legitimate offering, it's often used by predatory lenders to mask the high overall cost of the loan. Customer Testimonials: The positive customer testimonials, especially if they are numerous and overly positive, can be fabricated or cherry-picked to create a false sense of trust. Limited Eligibility Criteria: The website lists relatively low requirements for eligibility, which can be a tactic to attract a wide range of potential borrowers, including those who may not be able to afford the high costs. Lack of Regulatory Information: There is no clear information about the regulatory status of the company or its compliance with financial regulations. In summary, the website exhibits several characteristics commonly associated with predatory lending practices. It's important for individuals to be cautious and fully understand the terms and costs of any financial product before proceeding, especially when dealing with high-interest loans."

• High-Interest Rates, No Credit Check, Quick Approval and Disbursement, Flexible Repayment, Customer Testimonials, Limited Eligibility Criteria, Lack of Regulatory Information