About 24/7 Lending Group

In business since 2001 and based out of Raleigh, NC, 24/7 Lending Group helps consumers with poor credit ratings obtain personal loans for anywhere from $100 to $35,000 or more. While the company advertises that their service can be used by customers in all credit brackets, they specialize in those with poor and no credit. According to their website, current interest rates range between 6.46% and 33%, with a minimum borrowing term of one year, and a maximum of six.

24/7 Lending Group is not registered with the Better Business Bureau, but appears to have a relatively good reputation, based on a wide variety of online customer reviews. Most feedback appears to be positive, with the majority of complaints referencing poor communication. However, 24/7 Lending Group also maintains a strong online presence, and appears to answer customer questions and complaints fairly quickly.

How 24/7 Lending Group Works

Contrary to what the company’s name might lead you to believe, 24/7 Lending Group is not a lending service. Instead, they act as a “middleman” for a group of more than 50 direct (also known as “payday advance”) lenders. In other words, they help you choose a qualified lender that best matches your specific needs, such as loan amount, repayment schedule, etc.

In order to apply for a loan through 24/7 Lending Group, you must meet four criteria:

  1. At least 18 years of age,
  2. A citizen of the United States,
  3. Actively employed, or receiving a regular income (e.g. disability, retirement, etc.), and
  4. An active checking account.

The 24/7 Lending Group Loan Process

To begin using 24/7 Lending Group’s services, you’ll first need to fill out a short application, where all included information should be accurate and up to date. According to the company’s website, the details obtained during your loan approval process are 100% secure, and will remain completely private throughout.

After your application has been submitted, it will be reviewed and forwarded to specific lenders based on your credit score and loan requirements. Then, you’ll typically receive a phone or email response within 24 hours, and if approved, will also be given important details such as the loan amount, APR, repayment schedule, and so forth.

In addition, it’s important to keep in mind that fees, late payment stipulations, and renewal information is lender-specific, so if there’s something in your contract you don’t understand, this would be the best time to speak up and ask. If you choose to continue after carefully reviewing all the terms and conditions, simply e-sign the agreement, and your money should be available shortly thereafter, either electronically or by check.

Is 24/7 Lending Group a Scam?

Based on our research, 24/7 Lending Group appears to be a legitimate business. However, the company’s target market is individuals with poor or no credit, which means that the majority of their loans are going to carry high interest rates. Because these high rates can also accompany steep late fees and other types of penalties, they can ultimately leave consumers saddled with much more debt than the original loan amount.

With this in mind, it’s typically a good idea to stay away from “personal” or “payday advance” loans, as they can spiral out of control fairly quickly. However, if you absolutely must take out this type of loan, 24/7 Lending Group appears to be a good resource for finding one that best meets your needs.

The company even goes so far as to screen prospective lenders for any indication of being a scam, such as requiring you to pay money upfront, or to add funds onto a prepaid debit card, in order to act as “insurance” for your loan. They also maintain a strong online presence regarding customer questions and complaints, which is a good sign that the company cares about its public image, as well as their customers’ overall experiences.

Pros

  • Completely free, and easy to use.
  • Ability to cancel the loan process at any time, without having to worry about incurring penalties or fees.
  • Receive a response within 24 hours (sometimes immediately), and have your cash quickly thereafter.
  • Can be a good resource for customers with poor or no credit.
  • Most customer feedback appears to be positive.

Cons

  • Many personal and/or payday advance loans can carry unfavorable terms, so make sure you fully understand your contract before signing.
  • Because 24/7 Lending Group specializes in clients who have poor or no credit, APRs can be higher—in some instances, much higher—than more traditional lending services.

41 Customer Reviews for 24/7 Lending Group

Average Customer Rating: 5.0
Rating Snapshot:
5 stars: 34 4 stars: 3 3 stars: 0 2 stars: 0 1 stars: 4
Bottom Line: 90% would recommend it to a friend
Showing 1-11 of 41
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  • 2 out 2 people found this review helpful

    Excellent job

    • Kirkland WA,
    • Jun 2, 2015

    They do a great job and provide great service.

    Bottom Line: Yes, I would recommend this to a friend

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  • 3 out 3 people found this review helpful

    So Fast!

    24/7 Lending Group was amazingly fast and easy!

    Bottom Line: Yes, I would recommend this to a friend

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  • 3 out 3 people found this review helpful

    Excellent

    • Durham, NC,
    • Apr 23, 2015

    Excellent, quick, and fast service.

    Bottom Line: Yes, I would recommend this to a friend

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    • Apr 28, 2015

      Jordan Robbins, Owner

      Thanks!

    • Jun 2, 2015

      Senad Kameric

      Excellent service.

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  • 5 out 7 people found this review helpful

    THIS IS A SCAM

    • Allentow, PA,
    • Apr 20, 2015

    I tried to do as much research as possible before I filled out their online application and released my personal information. Well I got played. You have to go through all these different companies and pay for their service to get to knowing if you have been approved for a loan. If you decline any service, you don't hear from anyone anymore about approving you for a loan. Then you start getting bogus phone calls from companies that you don't have credit with saying your accounts are locked. Scam! If you have bad credit you won't be helped at all just lied to and strung along!

    Bottom Line: No, I would not recommend this to a friend

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    • May 19, 2015

      Jordan Robbins, Owner

      We are not a scam. We do help all credit types but don't guarantee approval.

      This consumer must have applied at multiple sites because we don't charge any fees, do not call applicants and definitely do not send out spam.

      Any questions prior to applying, please contact us.

    • Jun 7, 2015

      Gary Lambert

      I hope you're not a scam. Of course I want to build up my credit not hurt it. So if you are good, than thank you so very much, if you are good I'll tell other people about you ether way.

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  • 3 out 3 people found this review helpful

    Was not disappointed

    • Wisconsin,
    • Feb 9, 2015

    Everything said on their website came true. I did not have one problem while using this company!

    Bottom Line: Yes, I would recommend this to a friend

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  • 3 out 4 people found this review helpful

    Loan Process

    • Decatur, GA.,
    • Feb 9, 2015

    I applied for a loan and was set up with a lender in minutes. I'm pretty happy!

    Bottom Line: Yes, I would recommend this to a friend

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  • 1 out 2 people found this review helpful

    Needed some money and didn't know what I was going to do

    • Colorado,
    • Feb 9, 2015

    I was in a pinch for a few months and needed money quickly so I would not fall behind on my bills. I contacted 24/7 Lending Group and within a few hours I was told my money would be in my bank in a few days. It was actually deposited into my bank next day. They are my life savers and they were courteous and professional. I would use them again and would strongly recommend them to my friends and family. Thank you!

    Bottom Line: Yes, I would recommend this to a friend

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  • 5 out 5 people found this review helpful

    Didn't get approved.

    • Kennewick, Washington,
    • Feb 4, 2015

    I have bad credit and am trying to fix it and it's hard to do when you are disabled and really need the help. I applied for a 400 dollar loan to see if I would of gotten approved and I did not.

    Bottom Line: No, I would not recommend this to a friend

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    • Feb 7, 2015

      24/7 Lending Group Customer Service

      Sorry we couldn't find you financing. We do help people of all credit types but unfortunately cannot help everyone. We do not guarantee approval. There are several key variables lenders look at when determining approval including but not limited to loan amount compared to your total debt and income (can't apply for a loan you aren't going to be able to afford payments on), your employment history, residence history, open credit lines, payment history (late and/or defaults), use of payday loans, etc..

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  • 4 out 4 people found this review helpful

    Super fast funds with low credit

    • Jan 9, 2015

    I had unfavorable credit and got a loan better than any kind I thought I'd be approved for thanks to 24/7 helping me find a lender. Very fast and easy process. Efficient. Highly recommend.

    Bottom Line: Yes, I would recommend this to a friend

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  • 3 out 3 people found this review helpful

    Fast, professional financial services

    • Bakersfield, CA,
    • Jan 9, 2015

    The process was true to the degree that is truly noteworthy. From completing the form to the explanation of steps and delivery of fund, it was a great experience. The money was there when they said. So simple.

    Bottom Line: Yes, I would recommend this to a friend

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  • 3 out 4 people found this review helpful

    247 Lending Group - Def' Thumbs Up

    • Dec 19, 2014

    I saw an ad for another "quick loan" and the reviews were horrible. I saw 24/7 Lending Group and the reviews overall were good so thought Why Not! The process was super fast, I was approved, and funded! I highly recommend!

    Bottom Line: Yes, I would recommend this to a friend

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