Whether you require a personal loan or want to settle your obligations, picking the appropriate company is crucial to the process. In this article, we have compared Credit Associates vs LoanQuo to enable you to make an informed decision.
- 25th best financial firm, USA (INC Magazine)
- Minimum Debt $10,000
- No Minimum Credit Score
- $3 billion+ debt resolved
- Minimum Debt $7,500
- No Minimum Credit Score
- $500 million debt resolved
- BBB A+ Rating
Credit Associates Review: A Fast-Growing Debt Consolidation Company
Credit Associates is a fast-growing debt consolidation company that has been providing debt relief services to consumers since 2011. The company specializes in debt settlement, which involves negotiating with creditors to reduce the total amount of debt owed. Credit Associates has helped thousands of people struggling with unsecured debt, such as credit card debt and medical bills, to become debt-free.
The company has received positive reviews from many customers who have praised its knowledgeable and supportive staff, transparent fees, and effective debt settlement negotiations. With an A+ rating from the Better Business Bureau and membership in the American Fair Credit Council, Credit Associates has established itself as a reputable and trustworthy company in the debt relief industry.
Credit Associates is the ideal option if you’re seeking a Debt Consolidation business that can assist you in quickly and easily getting out of debt.
Benefits And Drawbacks
Like any debt relief option, Credit Associates’ debt settlement program has both pros and cons. Here are some of the advantages and disadvantages to consider:
Pros:
- Debt settlement can potentially help you become debt-free faster than making minimum payments on your own.
- Credit Associates’ debt settlement program can potentially reduce the total amount of debt you owe by negotiating with creditors to accept a lower amount as payment in full.
- Credit Associates’ debt settlement program can provide a more affordable monthly payment plan by consolidating multiple debts into one monthly payment.
Cons:
- Debt settlement can potentially damage your credit score because you are not making the required payments on your debts and some creditors may report your accounts as delinquent or charged off.
- Credit Associates’ debt settlement program charges a fee, which is typically a percentage of the total debt enrolled in the program. This fee can add up to a significant amount over time.
- Debt settlement is not a guaranteed solution and some creditors may not be willing to settle or negotiate.
Credit Associates: What is It?
Credit Associates offers a debt settlement program to help people struggling with unsecured debt, such as credit card debt, medical bills, and personal loans. The program involves negotiating with creditors to reduce the total amount of debt owed. Instead of making minimum payments on each individual debt, you make monthly payments into a special account. Credit Associates use these funds to negotiate settlements with your creditors, aiming to reduce the amount owed.
Once a settlement is reached, you pay the settled amount to the creditor, and the remaining balance is forgiven. The debt settlement program is intended to help individuals become debt-free faster and more affordably than making minimum payments on their own.
Who Owns This Company?
We frequently get inquiries like this. Credit Associates is a debt consolidation company that has been in business for over 14 years. They are a privately held business, and a number of individual investors make up their ownership.
To assist you in getting out of debt, they have a staff of professionals in debt consolidation. To determine if debt consolidation is the best option for you, they provide a free consultation.
How Does It Work?
Credit Associates’ debt settlement program works in several steps:
- Free consultation: Credit Associates offers a free consultation with a debt specialist to evaluate your financial situation and determine if debt settlement is the best option for you.
- Enrollment: If you decide to enroll in the program, you will work with a dedicated debt specialist who will help you create a customized debt settlement plan. You will also set up a special account to save money for settling your debts.
- Monthly payments: You will make monthly payments into the special account, which Credit Associates will use to negotiate settlements with your creditors.
- Settlement negotiations: Credit Associates will negotiate with your creditors to reduce the total amount of debt owed. Once a settlement is reached, you will pay the agreed-upon amount to the creditor.
- Debt resolution: After all of your debts are settled, you will have successfully completed the program and be debt-free.
It’s important to note that debt settlement is not a guaranteed solution, and not all creditors may be willing to settle or negotiate. Before enrolling in the program, it’s important to carefully consider the potential benefits and drawbacks and explore other debt-relief options as well.
Credit Associates Program
Credit Associates offers a debt settlement program to help individuals struggling with unsecured debt, such as credit card debt and medical bills. The program works by negotiating with creditors to reduce the total amount of debt owed. Instead of making minimum payments on each individual debt, you make monthly payments into a special account. Credit Associates use these funds to negotiate settlements with your creditors, aiming to reduce the amount owed.
Once a settlement is reached, you pay the settled amount to the creditor, and the remaining balance is forgiven. Credit Associates’ debt settlement program is intended to help individuals become debt-free faster and more affordably than making minimum payments on their own. However, it’s important to understand the potential impact on your credit score and the fees associated with the program before enrolling.
How Much Does Credit Associates Cost?
Credit Associates appreciates the value of delivering top-notch service for free, so they guarantee no fees will be charged if they are not involved in the settlement. But, if their expertise, support, and experience are used to secure the settlement, the regular performance fee will apply. Their goal is to provide the highest quality service to help their customers get the best possible settlement.
Of course, each circumstance is unique, so it’s crucial to speak with one of their debt consolidation consultants to determine which choice is ideal for you. You have nothing to lose by calling them because they provide a free consultation.
How Much Can You Save With Credit Associates?
Clients who are steadfast in their debt repayment plan can enjoy the benefits of their hard work. The average person can reduce their debt by up to 55% in a two- to four-year period, with fees included, the savings can still be up to 30%. It is essential to remember that not all debts are eligible for this program, yet those who persist in their repayment efforts can benefit significantly.
Credit Associates Program: How Long Does It Take To Begin Resolving Your Debt?
The Credit Associates program requires a minimum of 36 months to complete, but this timeline can vary depending on the individual’s financial situation. Upon enrolling in the program and making your monthly payments, the business will begin discussing repayment agreements with your creditors, which can be a long and arduous process. Depending on how complex your situation is, the program may take longer than the usual 36 months, but the Credit Associates team will work diligently to ensure that you get the best possible outcome.
See If You Qualify for Credit Card Relief
See how much you can save every month — plus get an estimate of time savings and total savings — with your very own personalized plan.
It is essential to understand that the duration of settling your debt with the Credit Associates program is determined by your ability to make payments. It is vital to remain patient, determined, and cooperative with the program in order to ensure that the negotiations are successful. The trust account, which requires frequent contributions, is used to negotiate with your creditors and if payments are not made or are not made on time, it could delay the resolution process.
Depending on your specific situation, the time it takes to clear your debt with the Credit Associates program can vary. It is important to remain committed and work closely with the program to guarantee the best possible resolution for your financial condition.
Which Companies Does This Company Settle Debts With?
Credit Associates is a committed and reliable debt resolution company that helps its clients to settle their debts. Their team of professionals is experienced in negotiating with a wide range of creditors, from original creditors to debt collection agencies, to help clients resolve their debts.
Credit Associates helps clients with all types of debts, including credit card debt, personal loans, medical payments, and collection accounts. The individual creditors that Credit Associates negotiates with may vary depending on the type of debts and creditors the customer has. Credit Associates is dedicated to helping its customers get the relief they need to get back on track financially.
Working with Credit Associates, a debt settlement company, is a great option for those struggling with debt. However, it is important to note that not all creditors will be willing to settle debts. Credit Associates has experience dealing with different types of creditors, and their representatives will work hard to get you the best settlement possible. Ultimately, the outcome of the debt settlement process is dependent on each individual’s unique situation and cannot be guaranteed. It is important to be realistic and understand that not all debts can be settled.
Who has this company recently settled debts with?
Capital One, Visa, Mastercard, Chase, American Express, Citibank, Wells Fargo, Bank of America, Amazon, Macy’s, Costco, Lowe’s, Target, Kohls, Paypal, Walmart, Sam’s Club, T.J. Maxx, Bestbuy, Verizon, and the list goes on.
The good news is that there’s a strong possibility Credit Associates can assist you if you’re attempting to get out of debt. Credit Associates has a lot of expertise in settling debt, and debt consolidation can be a terrific option to get out of debt.
How Do They Affect Your Credit?
When signing up for Credit Associates, it is important to be mindful of your credit score. If you have missed payments to creditors, this will have a negative impact on your credit. To avoid this, it is important to take the necessary steps to ensure your credit score remains positive, even in difficult financial times. Taking the time to review your credit score and taking action when necessary can help you to stay on top of your finances and ensure your credit score remains in good standing.
During the debt settlement process, you typically won’t pay your creditors directly. Instead, you will pay Credit Associates, who will place the money in a trust account and use it to negotiate with your creditors on your behalf. It is important to note, however, that you could have late or missed payments reported to your credit report during the debt settlement process, which could have a negative impact on your credit score. As a result, it is important to be mindful of the potential repercussions of debt settlement if you decide to pursue this option.
Credit Associates Customer Service
Contact Credit Associates’ customer support by dialing 866-720-9947, which is a toll-free number.
The typical business hours for contacting customer service are Monday through Friday, 7:00 am to 11:00 pm CST.
The hours of operation for customer support representatives on Saturdays are 8:00 a.m. to 8:00 p.m. CST.
At 5050 Quorum Dr., Suite 700 in Dallas, Texas, is where you may reach the Credit Associates customer service call center.
Have your account number or customer ID available when you call customer support so they can help you the best they can.
How To Use The Credit Associates Website
Credit Associates’ website is designed to provide information and resources for individuals who are seeking debt relief services. Here are some steps to help you navigate and use the Credit Associates website effectively:
- Start by visiting the Credit Associates website.
- Browse the website to learn more about the debt relief services offered by Credit Associates. The website provides information about debt settlement, credit counseling, and debt consolidation.
- If you’re interested in using Credit Associates’ debt relief services, you can fill out the contact form on the website to request a free consultation.
- You can also access resources such as blog articles and educational materials that provide insights and guidance on managing debt.
- If you have any questions or concerns about Credit Associates’ services or the website, you can contact the company directly using the contact information provided on the website.
Remember that it’s always a good idea to research and compare different debt relief options before making a decision, and to read reviews and testimonials from previous clients to get a sense of their experiences with Credit Associates or any other debt relief provider.
Credit Associates Reviews
The BBB rating for Credit Associates is A+. You can feel confident selecting this company as a debt settlement option because you can trust them. Choose a firm like Credit Associates because there are many out there that don’t hold themselves to the same high standards.
It’s crucial to examine BBB reviews before choosing a debt relief firm. This will give you a sense of what other customers have thought of the business. It’s also an effective technique to gauge how quickly the business responds to client complaints.
Here are some reviews:
Dennis S 01/12/2021
Johnny B 12/22/2020
Sheryl H 10/06/2020
Tone J 12/08/2019
How To Cancel Credit Associates
If you’ve decided to cancel your enrollment in Credit Associates’ debt settlement program, here are some steps you can take:
- Contact Credit Associates directly. You can reach out to their customer service team via phone or email to inform them that you’d like to cancel your enrollment in their debt settlement program.
- Review your contract. Make sure to review the terms of your contract with Credit Associates to understand any cancellation policies or fees that may apply.
- Provide written notice. It’s a good idea to provide written notice of your intention to cancel your enrollment in the program. This can be in the form of an email or letter that clearly states your request to cancel.
- Follow up with your creditors. If Credit Associates has already negotiated settlements with your creditors, you’ll need to follow up with them directly to ensure that your accounts are no longer enrolled in the debt settlement program.
- Consider alternative debt relief options. If you’re canceling your enrollment in Credit Associates’ debt settlement program, it’s important to consider alternative debt relief options that may better meet your needs.
It’s a good idea to speak with a financial advisor or credit counselor to explore your options and make an informed decision.
Credit Associates: Is It Legit?
Credit Associates is a debt settlement company that provides debt relief services to individuals who are struggling with unsecured debt such as credit card debt, medical bills, and personal loans. The company is a legitimate business and has been operating since 2016.
Credit Associates offers a variety of debt relief services, these services include debt consolidation, debt settlement, debt negotiation, and debt management. It has a high success rate and a lot of favorable feedback. Credit Associates is a fantastic option if you’re looking for a debt consolidation firm. To get your finances back on track, they will collaborate with you to develop a personalized plan.
Is It The Best Debt Consolidation Company?
There are several excellent debt consolidation firms, but Credit Associates stands head and shoulders above the competition. They have a lot of happy customers and an extraordinarily high success rate. You won’t be let down!
FAQs
What types of debts can be settled through Credit Associates?
Credit Associates specializes in settling unsecured debts, such as credit card debts, personal loans, and medical bills.
How do Credit Associates negotiate with creditors?
Credit Associates negotiates with creditors on behalf of its clients to settle debts for less than the full amount owed. The company works to secure a lump-sum settlement that is less than the total amount owed, which can save clients money and help them become debt-free faster.
LoanQuo Review: Is It Legit Or A Scam?
A Florida limited liability firm known as The Borrowing Club, LLC operates under the name LoanQuo. The business provides loans for both personal and debt consolidation. On Loanquo.com, Myloanquo.com, and Theborrowingclub.com, they promote their services.
TBC has broker and/or lender licenses in a number of states, including California. For people interested in getting a loan, they offer research and matching services. TBC can give customers the information they need to finish their loan applications, but it cannot make approvals or guarantees on behalf of any lenders.
Summary
It is our duty as moral consumers to thoroughly investigate the businesses we deal with. Before committing to any group, we do extensive research on them. In this case, we have rated Loanquo with 3.5 stars.
It’s possible that Loanquo recently mailed you an offer. The offer might have appeared like this: SEE WHAT YES CAN DO FOR YOU! YOU’RE PRE-SELECTED FOR $100,000 AT AN INTEREST RATE OF 5.99%. We decided to do some research to determine whether the company’s offer was a decent one because we were fascinated by it.
We discovered some intriguing information while reviewing the loan terms.
- Since Loanquo is not a lender, they are unable to make the final determination regarding whether or not you will be granted a loan.
- Lenders set loan interest rates, which can range from 5.99% to 35.36%. The lender may charge an origination fee of between 1.99% and 5%.
- Your information will be shared by the website owner with their advertising, lending partners, and other networks who might be able to extend credit to you.
We discovered more and more significant facts that we wanted to remember as we kept reading the fine print on Loanquo’s website.
- The approval of your online loan application is not guaranteed. Your eligibility for a loan is determined by a number of variables.
- Each of the loan partners that LoanQuo works with has their own rates and costs. The interest rates and costs that each loan partner levies are independent of LoanQuo.
- Your lending partner may notify the major credit bureaus of your delinquency if you fail to make timely loan payments. Your credit score can suffer as a result of this.
The Florida Office of Financial Regulation has granted this company a license with a December 31, 2022, expiration date (CF9901232). There are no other licenses that this business has held that are listed with the Better Business Bureau (BBB).
LoanQuo: What is It?
LoanQuo is a company that connects borrowers with potential financiers. It has an A+ rating and has been accredited by the Better Business Bureau since January 12, 2022. The address of LoanQuo is 555 SW 12th Ave Suite 202, Pompano Beach, FL 33069, and the company has been operating for 4 years. Their phone number is (561) 922-9410.
Loanquo does not have the authority to judge whether or not you will be granted a loan, nor can they set a limit on how much you could borrow. Nonetheless, you might be able to find the ideal lender for your needs with the help of their recommendation services.
Please be aware that submitting your information does not ensure that you will be approved for a loan or that you will be connected with a lender.
Affiliations of LoanQuo:
The Borrowing Club is the primary association of LoanQuo.
Moreover, Rise, Mariner Finance, Payoff, Sofi, One Main Financial, and Best Egg are just a few of the well-known companies that LoanQuo is associated with.
LoanQuo Debt Consolidation: How Does It Work?
Your information will be shared with their collaborating loan partners, advertisers, networks, and other third-party organizations when you provide it on their website. There is no assurance that a lending partner will choose you or provide you a loan.
They strongly encourage you to read the conditions of any offer before deciding because each lending partner has different rates and costs. Please remember that you are never required to accept an offer from a lending partner and that you are always free to revoke your consent to the entire process at any moment.
Loanquo debt consolidation disclaims all liability for any fees or conditions put forth by a lending partner, as well as for any agreement reached between you and a lending partner. Your data might be made available to potential third-party advertisers and generators if you are not chosen by a participating lending partner.
LoanQuo Rating And Reviews
The Loanquo BBB has been accredited since January 12, 2022, and it has an A+ rating.
On the BBB page for Loanquo as of September 21, 2022, there are no reviews or complaints reported. At this moment, it is difficult to make a firm judgment about this company because there are no customer reviews. In order for customers to decide whether or not to do business with this organization, it is hoped that additional information will become available in the future.
FAQs
How To Qualify For LoanQuo?
The procedure is straightforward: just fill out a form on the loanquo.com website with some basic information about your financial condition, and within 24 hours, you’ll have up to five loan offers from lenders.
If you want to consolidate your debt, you must:
- 18 years of age or older
- Possess a reliable source of income
- Possess a checking or savings account
- Have a phone number and email address
- Being a citizen of either Canada or the United States (excluding Quebec)
You must communicate with the lender directly once you receive a notice that your loan has been approved.
What Type Of Loans Does LoanQuo Offer?
Loanquo offers a variety of loans, including home improvement loans and consolidations of several credit cards. They provide loans for both personal and business uses. Certain financing partners are unable to contribute up to $100,000. Also, because these loans are pricey, they ought to only be used for urgent financial necessities.
How Much Does It Charge?
You will not be charged anything for making a loan request, connecting with a lender, or obtaining loan offers or estimates. To formalize your loan search and/or credit report, the lending partner may, however, charge a processing fee; however, this won’t happen until you’ve decided to pay the fee(s) in question and signed any loan agreements. Feel free to browse around with Loanquo at no cost whatsoever up until that point.
The businesses from which Loanquo has made offers to you are the ones that pay Loanquo. The offer you receive and the location on the website where their products are displayed may vary depending on the business. For instance, the amount of compensation received may have an effect on the order in which they appear.
How Does This Company Affect Your Credit?
It’s critical to realize that the actions of your selected lender could have an impact on your credit score if you intend to take out a loan. Loanquo’s network of lenders includes some who run credit checks through the three major credit reporting agencies, TransUnion, Experian, and Equifax. Your lender may notify one or more of the major credit bureaus of your delinquency if you don’t pay back your loan by the due date, which could lower your credit score.
How To Cancel It?
It’s crucial to understand that if you’re thinking about canceling your personal loan, you may only do so before the loan amount is sent to your bank account. You won’t be able to turn the loan around or cancel it once the funds have been credited.
Will Loanquo Hurt Your Credit?
Does Loanquo affect my credit? No, using Loanquo will not affect your credit. The business does not submit any information to big credit bureaus; it simply gathers the data required to complete loan applications.
LoanQuo: Is It Legit?
Is LoanQuo legit? Yes, it is.
It is accredited by the Better Business Bureau with an A+ rating even though it lacks BBB reviews. It started operating in 2017.
Your information is sent to several lenders when you use them to apply for a loan. This gives you a better chance of getting approved for a loan and getting the best interest rate possible. It’s crucial to keep in mind that each lender has their own terms and conditions. Before accepting any loan, make sure to read the fine print.
This loan matching service is a respectable choice if you’re searching for a personal loan. Just be sure, before signing on the dotted line, that you are aware of the terms and circumstances of any loan you are considering.
Have you ever used this company to get a loan? Please share your story in the comments section.
Thank you for reading!
