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Debthunch is a website that offers debt consolidation services. Is it a scam, or is it legit? That’s what we’re going to explore in this Debthunch review. We’ll take a look at the company’s history, its fees, and whether or not they are accredited by the Better Business Bureau. So, if you’re considering using Debthunch for your debt consolidation needs, then you need to read this review first!
Debthunch was founded in 2003 and it’s based in Newport Beach, CA. The company is not a lender, but instead, they work with lenders to provide debt consolidation services for their customers. The fees for Debthunch’s services vary depending on the amount of debt you have and your financial situation. However, they do offer a free consultation to see if their services are right for you.
The company has been in business for 19 years and there are very few complaints against them. Most of the complaints that have been filed are about bait and switch tactics, their fees and not being able to get a loan through Debthunch. Overall, it seems that Debthunch is a legit company and not a scam. However, you should always do your own research before using any debt consolidation services.
Debthunch Pros and Cons
Debthunch is not a lender, and their website says they are not a debt consolidation company. However, many people have reported that Debthunch is a bait and switch scheme. They will lure customers to get leads for their network of lenders by sending them mailers that advertise low-interest rates and then try to switch you to a higher interest rate after you apply for a loan.
The only pro of Debthunch is that they have an A+ rating with the Better Business Bureau. However, this is not enough to offset the many cons of using their services.
If you’re considering using Debthunch, we recommend that you look elsewhere for debt consolidation services. There are plenty of other companies out there who are real debt consolidation companies with better terms and interest rates.
What is Debthunch?
Debthunch is not a lender, but it may be able to help you find one. It’s a lead generator that connects you with a network of lenders who may be able to offer you a consolidation loan. However, there are some important things to keep in mind before you sign up for Debthunch.
First and foremost, Debthunch is not a lender. This means that if you’re looking for a consolidation loan, you’ll need to go through the application process with one of the lenders in their network. This can be time-consuming and frustrating, especially if you’re not approved for the loan.
Second, Debthunch’s fees can be high. They charge an origination fee of up to 5% of the loan amount, and there may be other fees as well. Make sure you understand all the fees before you sign up.
Lastly, Debthunch’s customer service has been known to be not very helpful. If you have any questions or problems with your loan, it can be difficult to get in touch with someone who can help.
Overall, Debthunch is not a bad option if you’re looking for a consolidation loan. However, there are some things to keep in mind before you sign up. Make sure you understand all the fees and terms, and that you’re comfortable with the application process. And if you have any questions or problems, be prepared to reach out to customer service on your own.
What is Debt Consolidation?
Debt consolidation is the process of combining multiple debts into one loan. This can be done by taking out a new loan to pay off existing debts, or by transferring balances from multiple credit cards to one card with a lower interest rate.
There are several reasons why someone might choose to consolidate their debt. Maybe they’re tired of making multiple payments each month and want to simplify their finances. Or maybe they’re trying to get a lower interest rate so they can save money on interest charges over time.
However, there are also some risks associated with debt consolidation. For example, if you consolidate your debt onto one credit card, you could end up with a higher credit limit and run the risk of maxing out your credit and damaging your credit score.
Before you decide to consolidate your debt, it’s important to weigh the pros and cons carefully and make sure that it’s the right decision for your financial situation. If you’re not sure, talking to a financial advisor can help you understand your options and make the best decision for your needs.
How Does Debt Consolidation Work?
Debt consolidation is a process where you take out a new loan to pay off multiple, smaller loans. This can be done with a personal loan, home equity loan, or balance transfer credit card. The goal is to have one monthly payment at a lower interest rate and save money on interest charges.
However, debt consolidation isn’t right for everyone. If you’re not careful, you could end up in more debt than you were in before. Before consolidating your debt, make sure you understand the pros and cons.
The biggest pro of debt consolidation is that it can save you money on interest charges. If you have high-interest debt, consolidating into a lower-rate loan can help you pay off your debt faster. For example, let’s say you have $20,000 in credit card debt at an 18% interest rate. By consolidating into a personal loan with a 12% interest rate, you could save over $6000 in interest charges and pay off your debt two years faster.
The biggest con of debt consolidation is that it only works if you’re disciplined about your spending. If you consolidate your debt but continue to spend on your credit cards, you’ll just end up with more debt than you started with. Make sure you have a plan to avoid using your credit cards after consolidating your debts.
It can be a great way to save money on interest and pay off your debt faster, but it only works if you’re disciplined about your spending.
What are the Benefits of Debt Consolidation?
Debt consolidation can help you get out of debt faster, save money on interest, and improve your credit score.
If you’re struggling to make payments on high-interest debt, consolidating your debt into a single loan with a lower interest rate can help you get out of debt faster and save money on interest.
Improving your credit score is another benefit of debt consolidation. When you consolidate your debts into one loan, you’ll have just one monthly payment to make. Making timely payments on this loan can help improve your credit score over time.
If you’re considering consolidating your debts, be sure to compare the interest rates and terms of different loans before choosing one that’s right for you. Consolidating your debt can be a great way to get out of debt faster, save money on interest, and improve your credit score. But it’s not right for everyone. Be sure to do your research before you consolidate your debts to make sure it’s the best decision for you.
How does Debthunch work?
Debthunch matches you with lenders who may help you consolidate your debt and save money on interest. They’ll consider your individual financial situation and find the best way to get you out of debt.
To get started, all you need to do is fill out a short form telling them about your debts. Once we have that information, they’ll match you with lenders who may help.
After this, you’ll have to deal with your new lender directly. They will help you create a plan to pay off your debt, and you’ll make payments directly to them.
If everything goes well, you should be able to get out of debt and save money on interest within a few years.
How to qualify for Debthunch?
If you’re looking for a way to consolidate your debt and get matches with lenders, Debthunch may be able to help. But how do you qualify for Debthunch?
Here are the requirements:
- You must be a US citizen or permanent resident.
- You must be at least 18 years old.
- You must have a regular source of income.
- You must have a checking account in your name.
- You must not have filed for bankruptcy within the past year.
If you meet all of these requirements, you can apply for Debthunch by filling out an online form. Once you’re approved, you’ll be able to start consolidating your debt and get matches with lenders.
What kind of program does Debthunch offer?
Debthunch matches you with lenders who are willing to consolidate your debt. However, the interest rates on these loans are often high, and you may end up paying more in the long run.
If you’re considering Debthunch, be sure to compare their offers with other options before making a decision. You may be better off going with another company that can provide better terms.
How much does Debthunch charge?
The answer to this question is a bit complicated. Debthunch works with different lenders and the cost of their services depend on the lender you’re matched with. So, while Debthunch doesn’t charge any fees directly, the cost of their services will be passed on to you by the lender by charging you a 4% origination fee.
What’s more, Debthunch isn’t always transparent about the cost of its services. They don’t list any prices on their website, and when we asked customer service for pricing information, they were very vague. This lack of transparency is frustrating, and it makes it difficult to know how much Debthunch will actually cost you.
In short, Debthunch’s pricing is confusing and opaque. You might be better off with a company that’s more upfront about its pricing.
What is the minimum credit score for a Debthunch?
We decided to find out!
We were quickly disappointed to learn that there is no set minimum credit score for a Debthunch. This means that each lender can set their own requirements, which can vary greatly.
This is bad news for anyone with a less than perfect credit score who is hoping to use a Debthunch to get a better interest rate on their debt. It’s yet another example of how the system is rigged against those of us who are struggling financially.
Who owns Debthunch?
Mr. Scott Couto is the CEO and he should be held accountable for this company’s unprofessional business practices. They’ve been many victims of their predatory lending.
There are a lot of negative reviews on the internet about this company and Mr.Couto.
If you’re considering using Debthunch, I urge you to reconsider. There are plenty of other options out there that won’t try to harm you. Don’t let Mr. Couto’s greediness ruin your financial future.
How does Debthunch affect your credit?
Debthunch is a third-party service that connects borrowers with lenders. When you apply for a loan through Debthunch, after you are assigned to a lender, the company will do a hard pull on your credit report. This can ding your score by a few points. Additionally, if you’re late on payments or default on the loan, that will also damage your credit score for a longer period of time.
So while Debthunch can help you get access to financing, it’s important to be aware of the potential risks before you apply. If you’re not sure whether taking out a loan is the right decision for you, it’s always best to speak with a financial advisor to get expert advice.
How to cancel Debthunch?
Unfortunately, since Debthunch is not a lender, they cannot cancel your outstanding balance. However, you can contact your lender directly to discuss payment options.
Please note that if you cancel your Debthunch account, you will still be responsible for repaying your outstanding balance in full according to the terms of your agreement with your lender.
We recommend that you contact your lender directly to discuss payment options if you are having difficulty making payments on time.
Who is Debthunch affiliated with?
Debthunch is affiliated with a network of lenders, not a lender. This means that they are able to provide you with access to more financial options and products. However, this also means that Debthunch is not responsible for the actions or products of its affiliates. If you have any questions about a product or service offered by one of Debthunch’s affiliates, you should contact the affiliate directly.
The bottom line is that while Debthunch can offer you more choices when it comes to borrowing money, you should always be aware of who you’re dealing with before committing to anything. Make sure to do your research and ask plenty of questions so that you can make the best decision for your needs.
Debthunch BBB Reviews
It’s always a little suspicious when a company only has a few reviews on the Better Business Bureau website. So we decided to do a little digging and see what else we could find out about Debthunch.
Unfortunately, it looks like our suspicions were well-founded. Trustpilot has a lot of customers complaining about everything from being charged for services they never received to being harassed by collection agencies.
Here are some Debthunch reviews on Trustpilot:
Pamela review Updated Mar 15, 2021
IT’S A TOTAL SCAM! Fraudulent company!! And now, also add BULLIES to the list.
Updated 3/15/2021 6:53pm
Look man, this is going to be my last reply to you, I’m not going to keep wasting my time. If you’re backed up by all these grandiose reviews and things you claim to have accomplished why are you concerned with the one-star review from this one “untruthful” person that you keep calling me to be? Like, enough, I already said my opinion it’s not going to change, I may just review you in other places as well, now move on with your life, and keep shining!
Updated AGAIN 3/15/2021 6:04 pm
Cool story, bruh ✌🏽
Make what you will people!! I just hope others don’t fall this!!
Now for real just leave me alone, no matter what you say I won’t change my review; so keep attacking me all you want.
Betty1 review Jun 12, 2019
When I thought I contacted Debt Hunch, I immediately learned that it was not Debt Hunch but other companies that received my information from them. What a shame. If I didn’t meet your criteria for something, at least let me know.
TODD review Updated Jun 13, 2019
Debt relief is not worth it. It was too much risk for my credit. The company does practice numerous phone calls from different local area code numbers that never leave a voicemail. One call leaves a message and lets consumers decide if they want to return the call.
Is Debthunch Legit or a Scam?
You may have seen the ads for Debthunch. They promise to help you get out of debt and improve your credit score. But is Debthunch legit? Or is it a scam?
There are a lot of negative reviews of Debthunch online. Many people say they were bait and switch – that the company promised one thing, but then delivered something else. Others say that they never saw any results, despite paying Debthunch’s network of lenders a lot of money.
So what’s the truth? Is Debthunch a legit lead-generating company? Or is it a scam? We did some digging to find out. Here’s what we found:
Debthunch is a lead-generating company that sells your information to lenders.
When you sign up for Debthunch, you’re agreeing to let the company sell your information to lenders. That means that you could end up getting calls and emails from a lot of different lenders – even if you don’t end up using Debthunch’s services.
The terms and conditions of Debthunch’s website also say that the company can change its terms and conditions at any time – without notice. So if you sign up for Debthunch today, the company could change the rules tomorrow. And you wouldn’t know about it until it was too late.
Because of all these red flags, we recommend that you stay away from Debthunch. There are other, more reputable lead-generating companies out there. And you don’t want to risk your personal information – or your money – with a company that isn’t upfront about its terms and conditions.
Have you had any experience with Debthunch? We’d love to hear from you in the comments below.
Thank you for reading!
There are a lot of negative reviews of Debthunch online. Many people say they were bait and switch – that the company promised one thing, but then delivered something else. Others say that they never saw any results, despite paying Debthunch’s network of lenders a lot of money. Because of all these red flags, we recommend that you stay away from Debthunch. There are other, more reputable lead-generating companies out there. And you don’t want to risk your personal information – or your money – with a company that isn’t upfront about its terms and conditions.
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