Inbox Loan, hosted at inboxloan.com, is an online installment loan provider that helps everyday consumers receive installment loans for up to $5,000.
These installment loans can be used for a variety of financial issues such as medical emergencies, home repairs, car repairs, late fees, bounced checks and rent payments.
Functioning similar to an online payday loan service provider, Inbox Loan works with consumers who possess a less than satisfactory credit history while reflecting exceptionally high interests rates with approved and rendered loans.
To learn more regarding Inbox Loan and whether this loan servicer is optimal for you, we encourage you to continue reading our unbiased Inbox Loan review.
What does Inbox Loan Do?
Inbox Loan is an online loan servicing portal that enables U.S. consumers the ability to apply for an online installment loan.
Claiming to work with consumers with poor to excellent credit, Inbox Loan is marketed as a platform that is tailored towards everyone despite their financial history.
Those who are in need of a loan must be 21 years of age to apply, and if approved, can receive a loan amounting to as much as $5,000 as quickly as the next business day.
Who is Behind Inbox Loan?
Inbox Loan is a Native American owned business operated by Kashia Band of Pomo Indians of the Stewarts Point Rancheria, a sovereign nation located in the United States.
While the domain, inboxloan.com, appears to be first created on June 16th, 2014, the Inbox Loan loan servicing company appears to have caught the attention of the Better Business Bureau in March of 2017.
No other information regarding founders or active managers are referenced anywhere upon the site or at BBB.org.
How does Inbox Loan Work?
Inbox Loan provides an online application for consumers who are looking to apply for an installment loan.
First time lenders are able to receive a loan for up to $1,500 while returning borrowers in good standing are able to receive up to $5,000.
The application process is relatively straightforward with Inbox Loan and doesn’t take more than a few minutes to complete.
Each applicants’ credit information is verified with Clarity, DataX, Factor Trust, and Microbilt.
While consumers of all credit backgrounds are encouraged to apply, it should be noted that the better your credit score the more likely you’ll be approved.
Eligibility Requirements
- Must be 21 years of age
- Must be a US citizen or permanent resident
- Provide proof of active income atleast $1,000/month
- Must be able to provide working telephone and email address
- Share personal checking account information (for loan delivery method)
Those who are approved for a loan will advance to the next portion of the application process which will disclose the terms of the loan.
If accepted, applicants must complete the loan process by electronically signing the Inbox Loan loan agreement where they will then receive their approved loan funds as soon as the next business day.
Community Feedback
The community feedback circulating Inbox Loan is not positive nor encouraging.
According to their Better Business Bureau profile, their loan servicing platform has received a 100% negative customer review rating while amassing nearly 50 customer complaints over the past few years.
In addition, YScam and Yellowpages also report negative customer reviews.
“I have never had so much bad customer service in my life. I would not ever do business with this company. I would not refer anyone to do business with this company.”
“I took out a $500 dollar loan to pay it back in installments it cost me over $3,000 this can’t be legal”
“Took out a loan almost a year to the date. Received a phone call from True Accrod stating my loan had been refereed to them. They are a collection agency. I never received a formal notice from Inbox Loan stating they were transferring my loan to them. I never authorized for payments to stop. All of my payments were made on time. STAY AWAY FROM THIS COMPANY!”
Connecting with Inbox Loan
Inbox Loan does not provide many contact methods compared to competing platforms who are use to utilizing social media as a daily part of their life.
If you need to reach out to Inbox Loan you can call 1 (800) 930-9066, email loan@inboxloan.com or send a letter to the following address:
Inbox Loan
P.O. Box 881
Santa Rosa, CA 95402
Inbox Loan Review Conclusion
Inbox Loan appears to be a fully operational and legitimate loan servicing company although we must impress upon you the importance of only utilizing their service as a last resort.
As community feedback will suggest, Inbox Loan charges an exponential interest rate on approved loans upwards towards an average of 780%.
Which means that if you are approved and accept a $500 loan, you could end up paying over $3,000 plus your principal if you choose to utilize their service.
While it is a question of ethics of whether this sort of business model should be legal, unfortunately most payday loan service providers like Inbox Loans resort to such measures.
As we suggested, only utilize Inbox Loan as a last resort and if possible, not at all.
There are more legitimate online loan service providers, such as BadCreditLoans, you could consider.
I never took a loan out from this company; however, once a month, I receive an Adverse Action notice. I finally called them today to explain and they made me verify my last info. I was initially reluctant to verify last four of SS#, but did. They then informed me that it wasn’t what they had on file with me, although the email and telephone were correct. I asked that their fraud department call me back. I am waiting for that call.
ALL YOU HAVE TO DO IS READ AND UNDERSTAND!
This company has bothered me for the last 30 to 60 days nonstop phone call messages text messages and emails so that now after all the trouble they denied my loan even though I make over $3000 a month it’s all BS
Glad I was denied !!!! When applying for the koan he did ask my banker for 8 different direct deposit dates from my employer ??? I was like was does he need to go back that far ?? Even when you apply for a payday loan they only ask for 2 paystubs ….
THIS IS THE WORST PLACE TO ASK FOR LOAN. IS BETTER TO BE IN TROUBLE THAN TO GET A LOAN FROM THIS INBOX SHIT. NONSENSE.
if you wanna avoid the 780% APR, go and take advantage of the other payment options they offer, the sooner you paid off your loan the lesser interest rate is. The 780% is applicable only if you want to pay the loan in 1 full year.
Mysteri, I paid my loan off if you bothered to read. Not sure why you picked my comment to respond to but paying nearly 400 in interest in the first two payment installments is abominable. Period.
Did you read the terms and conditions though, Tiffany? The website clearly states the APR and how much truly goes to principal. These kind of companies that offer immediate loans like this are still in business because they DO disclose their APR and do give loans out to people who normally would not qualify for a loan at a bank.
In the first two repayment installments, I have paid just over $371 toward a principal balance of $600. Only 45 CENTS was paid toward the principal. There is LITERALLY no better way to illustrate the criminal interest rate of 780%. Their Better Business Bureau rating is atrocious with more than 100 complaints. Complaints I wish I had seen on the front end instead after the fact. I will NEVER do business with this organization again. When the highway robbery representative tried to rationalize this disgusting arrangement that is actually illegal in the state of Maryland, I lost my temper. I have to count my blessings that I’m in a position to pay them off before they got hold of about 13% of my annual income. Run far and fast from this company. I’ve had way better terms and luck with Loan At Last, Cashnet USA, and Elastic Loans if you must use a service like this one.
This is a horrible business I think what they did was not legal because my banking account is a joint account but only I applied for the loan they put me on three way calling with my bank and told me to ask the questions they gave me to ask and not to disclose that they were on the line but I fooled them and told my bank I was on a 3 way and all of a sudden after being approved for a loan they all of a sudden kept giving me the run around and finally I told them to stick the loan. Was this very illegal of them to do and should I report this to someone?????
I checked their website. yes the Interest rate is 780% if you are to choose of paying the loan in full in 1 full year. There is a disclaimer, you can pay in full ASAP or pay more each due date to avoid the full interest of the loan. I am now a returning customer. They have the same interest with other online lenders. Sometimes, you need to READ.
you’re right, I got confuse at first but after reading and talk to a support representative from Inboxloan I got a better understanding on how to avoid paying so much finance fee on my loan. thanks Inbox for helping me.