Brookwood Loans

[cap350z]

Has anyone heard of this company?

Has anyone else received pre-approved loan offers from this place?

Today I got a pre-approved loan notice from the above mentioned company,,, for a few thousand dollars.

Are they legit?

[HHM]

Why do you need the money?

Don't borrow just for the sake of borrowing or for your credit report.

[cap350z]

Hello HHM. I didn't say I was definately going to take out a loan with this place. I wanted to know if this place was a real loan insitution.

I was curious because I hadn't heard of Brookwood before.

Thank you for responding.

[CindyLou]

Well, I think they will legitimately loan you money at 96% interest!!!!!!!!!!!!

See the info below.

How do Brookwood Loans work?
Brookwood Loans are consumer loans that have 36 monthly payments, similar to a car payment. The first payment is due one month after you sign your loan agreement. Payments are due on the same day each month.* There are NO hidden fees or "Balloon Payments."

What amounts are offered?
MetaBank offers unsecured loans of $1000, $1500, $2000, $2500 and $3000. The amounts of monthly payments depend on loan amount. Complete disclosure of APR, fees, and payment terms are available upon request. Limited documentation is required with each new application. Credit approval and credit terms depend upon the Lender’s credit standards and review of applicant’s credit worthiness.
Loan Amount Annual Percentage Rate w/
Electronic Processing Annual Percentage Rate w/
Manual Processing Loan Period
$1,000.00 96.00%
(Monthly Payment: $85.34) 96.00%
(Monthly Payment: $85.34) 36 Months
$1,500.00 96.00%
(Monthly Payment: $128.02) 96.00%
(Monthly Payment: $128.02) 36 Months
$2,000.00 96.00%
(Monthly Payment: $170.69) 96.00%
(Monthly Payment: $170.69) 36 Months
$2,500.00 96.00%
(Monthly Payment: $213.36) 96.00%
(Monthly Payment: $213.36) 36 Months
$3,000.00 96.00%
(Monthly Payment: $256.03) 96.00%
(Monthly Payment: $256.03) 36 Months

How do I get a free email account?
Many websites provide free e-mail accounts. While Brookwood Loans and MetaBank are not affiliated with any of these sites, some are: Yahoo.com, Hotmail.com, or Google.com. To obtain a free e-mail account from one of these providers, go to their site and look for their link to "Free e-mail account" and follow the instructions. For Yahoo, the process works as follows:
Go to www.Yahoo.com


Click on Free mail: Sign Up


Fill out the form and create your Yahoo! ID


Click on the "I Agree" button when you are finished entering in all of the required information.


Once you reach the Registration Completed screen, click on the "Continue without installing Yahoo! Toolbar" button.


Click on the "No thanks, remind me later" link.


Click on the yellow "Go to My Mail" button to retrieve your free yahoo mail.

Does MetaBank check my credit?
Yes. We check your credit with major credit reporting agencies.
How much is the application fee?
$0. We do not charge an application fee.
Can I apply for a loan?
Yes, if you:
are at least 18 years old
have a Social Security Number
have a valid US checking account in your state of residence
are a resident of one of the State(s) in which we are accepting applications
(currently Arizona, Arkansas, Tennessee, Kentucky, New Mexico, Hawaii, Mississippi, Wyoming, Florida, Texas, Ohio, Pennsylvania, Oregon, Nebraska, Rhode Island, Alaska, Connecticut, Washington, Indiana, Oklahoma, Maryland, Maine, Massachusetts and MichiganAlaska, Arkansas, Arizona, Connecticut, Florida, Hawaii, Indiana, Kentucky, Massachusetts, Maryland, Maine, Michigan, Mississippi, Nebraska, New mexico, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode island, Tennessee, Texas, Washington, and Wyoming.)

How do I apply for a Brookwood loan?
Just complete the online application.
When are you open?
We accept applications 24 hours a day, 7 days a week, online at www.brookwoodloans.com. However, we are only able to offer 1-hour processing time Monday through Friday, from 8:00 AM to 4:30 PM Central Time. Any application not submitted during these hours will be processed at the beginning of the next business day.
What documents will I need to provide?
You will need:
a copy of your driver's license
a voided check from your active checking account
a copy of your most recent bank statement
a copy of your most recent pay stub
If you are self-employed, you will also need certain tax documents.
Is "www.brookwoodloans.com" secure?
Yes, our website is set up and maintained to ensure our customers' information is secure. We use NSA-certified 128-bit encryption with a Secure Socket Layer connection to ensure that our customers have the same level of security afforded to the United States Government. If you are still unsure about the security of doing business with MetaBank and Brookwood Loans online, feel free to call one of our representatives between 8:00 AM and 4:30 PM Central Time Monday through Friday at 1-866-784-2534.
What can I expect after my application is approved?
We will ask you to fax in a copy of your driver’s license, a voided check, a copy of your most recent bank statement, and a copy of your most recent pay stub. You will then have an opportunity to review the payment terms and make a decision whether to accept or reject the loan offer. If you decide to accept our offer, you will complete our online loan agreement and execute the loan agreement electronically.
How fast will I get my money?
If the loan agreement is completed online before 1:00 PM Central Time, you should get your money the same day; otherwise, you will get it the next business day. Business hours of operation are Monday through Friday, from 8:00 AM to 4:30 PM Central Time.
What is the interest rate?
Brookwood Loans have an Annual Percentage Rate ("APR") of 96%.
*Higher rates may apply for approved applicants that choose our manual loan funding process.
What fees will I have to pay to get my loan?
None.
How do I make payments on my Brookwood loan?
Typically, payments are withdrawn automatically from your checking account monthly on your due date, using our e-pay service. Alternative payment methods are allowed.
Is there a penalty for paying my loan off early?
No.
What if I have questions about my account or need answers to general information?
You can call Brookwood Loans' customer service department at 1-866-784-2534, Monday through Friday, from 8:00 AM to 4:30 PM Central Time.
Can I check my account balance on-line?
Yes! Just click the login button on the top navigation bar, or click here, and enter your login information to take you to your Brookwood Loans Online Management System.
*If your payment day falls on the 29th, 30th, or 31st and the month does not have that day, then your due date will fall on the last day of the month.


Brookwood Loans is a trade name for MetaBank. Loans are made by MetaBank, a federally-chartered savings bank in Sioux Falls, SD ("MetaBank"). Loan amounts from $1,000 to $3,000. The amounts of monthly payments depend on loan amount. Complete disclosures of APR, fees, and payment terms are available upon request from MetaBank at PO Box 91607, Sioux Falls, SD 57109, telephone 1-866-582-7759. Limited documentation is required with each new application.

[Cali]

96% is past crazy.

[cap350z]

Thanks Cindy for your reply. And everyone else too for researching. I guess they don't call them 'preditory' for nothing.

I'll weather the storm a little while longer. Not many options if you are like me with a low FICO score, even though I haven't paid a bill 'late' in over 3 years.

I'll see how much longer my car can go without needed repairs before I succomb to the trap known as Brookwood. Thanks everyone.

[keepmine]

Have you filed bk? If so and 3 years of good bill paying history ought to get you something better than these slugs.
Have you applied for a Goodyear or Firestone card? The APR on my Firestone is 21%. For sure you don't want to run a balance on that but, it beats Brookwood.

[want_a_house]

What? 96% APR? On a $3,000 loan, that would be over $9,000 over a three year period. THat would put you right back in to the BK arena for sure. With rates like that...WOW!!!!!!!!!!!!! One would have to be desperate. In actuality, these scum suckers should be prosecuted. I'd rather have bad credit for a while before even considering such a loan. That's robbery! Not only that, but they have your checking acct number and everything! NEVER!!!!!!!!!!!!!!!!!!!! CONSIDER!!!!!!!!!!!!!!!!!!!!!

Well, that's my two cents!