Mariner Finance Personal Loan Review

Mariner Finance offers personal loans that are targeted to borrowers with bad credit. Loan terms vary from 12 to 60 months. Most loan seekers might find their offers unattractive as they feature high interest rates and fees. Moreover, this lender has a bad customer service reputation and some reports of deceptive practices against them.

Mariner Finance is best for poor-credit borrowers who are having a difficult time securing an approval elsewhere. They don’t have credit score requirements. Even better, applicants who have filed for bankruptcy can qualify. This lender has a fast evaluation process and typically provides a response within the same day.

Mariner Finance’s personal loans are comparable to borrowing from a payday lender. They have high interest rates and fees. Make sure to read their loan agreement and understand their terms carefully before finalizing the loan.

Mariner Finance is not the best choice for most borrowers. Their APRs are high, and they aren’t transparent with their fees. Since their website offers limited information, it’s difficult to compare their offers with other providers.

While charging late payment penalties is not unusual, Mariner Finance charges fees for payments made online or over the phone. They’ve also received numerous complaints about their potentially deceptive practices of sending live checks to pre-screened individuals. Lastly, Mariner Finance’s loans are not available in 23 states.

Despite going through their process and submitting all required documents, Mariner Finance can still decline your loan application. This can happen due to an unstable source of income, irregularities with the documents submitted and other factors related to your creditworthiness.

Having your personal loan application disapproved can be frustrating. However, you can still reach out to Mariner Finance to clarify why they rejected your application. By identifying the reason for rejection, you know in which area you need to improve your application.

It’s recommended to address the issue or issues associated with your creditworthiness first before applying to another lender. Without this step, the new lender may also reject your application for similar findings. Keep this in mind for the sake of saving yourself time.

You can pay off some of your existing debts or find a way to increase your income before applying anew. You can also consider applying for a lower loan amount or getting a secured loan. Likewise, you can apply with a cosigner to increase the chance of loan approval.

MoneyGeek reviewed Mariner Finance’s personal loans and broke down their pros and cons. Since our findings apply to a general audience, your individual needs and situation will determine the best lender for you. We answered some frequently asked questions to help you weigh this lender’s overall value proposition.