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Blue Trust Loans Reviews

Blue Trust Loans offers an alternative to payday loans, which is in form of installment loans. This means that unlike payday loans, you don’t pay the loan in full on your next payroll, rather you pay in installments. The application process is easy, quick, guaranteeing up to $1250 deposited in your account often in one business day. Website: https://www.bluetrustloans.com

Blue Trust Loans is a website that offers loans on an installment basis to income earners depending on the state of residence. No payment is required to use the website. However, one must be 18 years and above. Company does not loan Active Duty Military personnel or their spouses or dependents. Information supplied by the applicant may be verified using a number of independent credits. Verification companies to gauge on the applicant’s eligibility for cash advance.

This is an innovative solution to payday loans, which means you get to sort your financial emergencies at a go and clear the loan in installments. However, the high interest rates should be a reminder not to rush to apply for this, simply reserve them for real emergencies.

Bluetrustloans.com is a money lending website under Hummingbird Funds, LLC. They offer money to individuals with a proven source of income, which though payable on payday, can be repaid in installments, rather than recovering the lump sum amount.

The interest rates, usually Annual Percentage Rate, range from 471.78% to 841.45% depending on the origination fees and the duration of repayment. Early repayment reduces your overall cost of credit and incurs no penalties.

Agreeing to the terms outlined in the contract means that you will pay the loan amount including principle and other fees. Failure to repay the loan as per the terms and conditions stipulated in the contract results in additional fees and penalties.

Organization evaluates borrower’s information in determining one’s qualification for a loan. This is usually done using third party agencies that do credit reporting. This means that they don’t use the mainstream credit report agencies such as Equifax, Experian or Transunion.

This means your credit report could be impacted as a result of the service that the lender chooses to use in the review. It is therefore advisable to monitor and evaluate your credit score using various websites. Also, avoid sending many different applications on several websites so as to minimize your credit score impact.

Since loans offered by Blue Trust are in form of installments, it means that they offer a reprieve from the usual payday loans.  That is usually recovered in a full at once on the payday. The maximum amount lent is usually $1250.  Upon qualification, the processing takes approximately one business day for the money to be deposited into your account.

The repayment plans are influenced by among others, the amount, the overall interest rate and the repayment period, in this case, the number of installments one is going to make.

Company has products that are tailored to suit the needs of customers depending on the frequency of their income. For biweekly or semimonthly customers, there is a 12 payment product, a 24 payment product for the weekly, and a 6 payment product targeting the monthly income earners.

One may decide to pay off the amount in lesser installments, thereby reducing the overall cost of the loan. This is done by contacting the representatives and restating the principle that the customer is willing and able to pay off. This incurs no penalties.

Late repayment results in charges such as nonsufficient fund fees and any other fees as mentioned in the loan agreement. Past due accounts are collected in a fair, professional and lawful way, as per the law. In case of difficulties in repaying the loan amount, one may contact the customer service representatives on 1-877-770-2682 to get to set a repayment plan that is convenient and affordable.

To qualify for Blue Trust Loans, one must satisfy the following

  • Be 18 years of age and above
  • Be a US citizen
  • Be a resident in the states that Blue Trust operates
  • Have a stable source of income
  • You must not be a debtor in a bankruptcy case or have intention to file voluntarily sign for the same
  • Have a an open checking account that meets the bank’s requirements

All Loans are easily available, usually taking about 24 hours, or one business day to be deposited into your account upon qualifying for the requested amount.

The interest is in annual rates and usually ranges from between 471% to 841%, based on the duration and the origination fees.

The loans are repaid in installments, therefore, one does not have to clear the whole amount at a go.

The loan interest range, APR, is usually between 471% to 841%, calculated on the duration of the loan and the processing fees.

Additional fees are accrued on late repayments, usually being the nonsufficient funds fees and/or any other fees outlined in the agreement.

The fee may reduce upon payment of the loan in lesser time than earlier signed upon.

The fact that payment is in installments is a plus, as one does not feel the pinch of having their pay slashed by a huge chunk at once to offset the loaned amount.

The processing period is also great, as it only takes one business day for the amount to be deposited into your checking account upon approval. Contact is made within 5 minutes of receiving the loan application during working hours.

One can review the repayment schedule if there are difficulties in repaying, thus ensuring you remain in good standing with the lender.

You can have your loan agreement document emailed or faxed if you don’t have a printer, thereby ensuring that you have a copy of the same at your disposal. Simply call 1-877-770-2682.

Blue Trust loans are available in almost all states except the following: Arkansas, Georgia, Connecticut, Minnesota, New York, Massachusetts, Pennsylvania, Vermont, Wisconsin, Washington, and West Virginia. However, this may change at the sole discretion of the owners.

Company offers to reward returning customers who are in good standing with VIP status. Please contact them on 1-877-770-2682 to learn more.   

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