1 /5 9063rx: Be careful with predatory lending tactics. Onemain likes to sell precalculated loans as being better than a traditional interest bearing loan. These loans penalize early payment, you pay all of the interest up front, and the method of interest calculation is confusing and convoluted. Be very, very careful if you decide to do business with them and pay lots of attention to the interest rate and how much you’re actually paying in interest. In some cases, you’ll pay more in interest than you would get from the loan over a 3-5 year loan. Very much not worth it.
If you do just so happen to default, they’ll take the entire amount of the loan, precalculated interest and all, and convert it into a high interest rate conventional loan, causing you to pay *even more* interest on top of the already insane 34.95% (or whatever other ridiculous percent) they decide to give you.
Please use their services with extreme caution. Corporate customer service is useless and local branches all throughout your state will harass you multiple times per day if you’re more than a day or two late.
