It doesn’t matter if you are looking for a personal loan or if you need help resolving your debt, this review will help you decide which company is right for you. It compares Pacific Debt Relief vs LendingTree to help you decide which lender is right for you.
Pacific Debt Relief Review: There Is A Reason They Are Ranked #1
Are you struggling with debt? Are you considering using a debt consolidation company to help you get out of debt? You may have heard of Pacific Debt Relief. This company has been helping people reduce their unsecured debts since 2002. But is this company legitimate? Or is it a scam? In this review, we will take a look at the company’s history, services, and fees to help you decide whether or not this is the right debt relief option for you.
The debt settlement company consolidates unsecured debts, such as credit card bills, medical bills, personal loans, and student loans. Their team of debt counselors will work with you to create a debt consolidation plan that meets your budget. Upon enrolling in their program, they will contact your creditors to negotiate lower interest rates and monthly payments. They will work with you if you are having trouble making your payments.
Many things set pacificdebt.com apart from other debt consolidation companies, but its experience is certainly among the most important. With over 20 years in business and thousands of satisfied customers, Pacific Debt has the knowledge and expertise to help you get out of debt quickly and efficiently.
Fees are another thing to consider regarding Pacific Debt Relief. There is a $49 setup fee, followed by a $39 monthly fee. In addition to their online portal and customer support, this fee covers debt counseling services as well. The service is also free of hidden fees or upfront charges.
Do you think Pacific Debt Relief is a scam? There is no scam going on with this company. Providing help with unsecured debt consolidation, they are a legitimate company with many years of experience. Pacific Debt Relief is a debt relief option we recommend.
Highlights
- A free consultation is available without any upfront costs
- Savings of up to 35% can be achieved after fees
- Easy online account monitoring
Trade-Offs
- The staff is pushy and prone to rushing you into deciding in a hurry
- Fees can reduce savings by as much as 15% for some consumers
- To use Pacific Debt’s relief program, you must live in a state where the company operates.
What Is Pacific Debt Relief?
The purpose of debt relief is to reduce or eliminate debt. Various methods can be used to accomplish this, such as negotiation, settlement, or bankruptcy. Over $1 billion in outstanding debt has been settled and resolved by the firm since 2002. A leading provider of debt relief services, they have helped thousands of people to reduce their credit card and medical debts.
Consumers who are having trouble making minimum payments and are looking to reduce their debt are best served by this debt settlement company.
It is possible for a person to need debt relief for a variety of reasons. It is possible that you have lost your job and you are unable to meet your monthly obligations. It may be that you are experiencing a medical emergency and are unable to work. Regardless of the reason, they can assist.
You will be able to find a solution that fits your needs and budget with their help. With an 85% success rate, you can be certain they will do everything in their power to assist you in getting out of debt.
How Does Pacific Debt Relief Work?
The Pacific Debt Relief Company offers debt consolidation loans to help people repay credit card debt. By negotiating with creditors, the company can lower its customers’ interest rates and monthly payments. Furthermore, they offer financial education to help people manage their money more effectively and avoid becoming indebted in the future.
With a low monthly payment, you can repay your credit card debt and unsecured loans more quickly and save money on interest. There has been a high success rate for Pacific Debt Relief in helping thousands of people come out of debt.
Pacific Debt Summary
- Memberships: American Fair Credit Council, Better Business Bureau, Consumer Affairs, International Association of Professional Debt Arbitrators
- Consultation: A free phone or online consultation with a customer service representative
- Fees: 15% to 25% of total debt enrolled. Each state has its fees.
- Support: Phone or email
- Accepted debts: All unsecured debts except consumer finance loans, payday loans, legal judgments, and medical debts are not yet in collections. Debts must be at least $10,000 to be considered
- Resources offered for free: An informative blog on debt management
- Limitations: Only 25 states are served by Pacific Debt
- Provided service: Direct negotiation of debt settlement
- Trust ratings: an A+ rating with the BBB and a 9.3 rating with Trustpilot
- Turnaround time: Approximately 24 to 48 months
What Kind Of Loans Does Pacific Debt Relief Offer?
To assist you with getting out of debt, Pacificdebt.com offers debt consolidation loans and home equity investment opportunities. With a variety of loan options to choose from, they will be able to tailor a debt relief solution to suit your specific needs.
Whether you are looking for a debt settlement company or a debt management company, Pacific Debt Relief can help. Their objective is to negotiate lower interest rates and monthly payments on your behalf with a network of creditors. As a result, you may be able to save money every month so you may be able to pay off your debt more quickly.
Debt can be a heavy burden, but you may be able to use your home equity to pay it off. A home equity loan uses your property as collateral and typically has lower interest rates than credit cards or personal loans, so you can save money on interest payments. This type of loan can give you the fresh start you need to get out of debt and move on with your life.
There may be a debt relief solution to fit your needs, no matter what your financial situation is.
How To Qualify For Pacific Debt Relief
Debt relief companies may be a good option if you are experiencing financial difficulties. To obtain a loan of this type, what qualifications must be met? The following information will assist you in determining whether you are eligible for Pacific Debt Relief.
For your debt consolidation loan application with Pacific Debt Relief to be accepted, you must have a minimum of $10,000 in debt and a maximum of $100,000 in debt. A good credit score and a steady income are also required.
If you meet these qualifications, you can apply for one of Pacific Debt Relief’s debt relief loans. You can get out of debt quicker than you can with other debt relief companies using this process.
How To Sign Up With Pacific Debt
A certified debt specialist will conduct a phone consultation with you to better understand your financial situation and determine if debt settlement is the right solution for you.
Pacific Debt can provide a free consultation online by following these steps:
- Visit Pacific Debt Inc.
- For a free debt consultation, click Free Consultation
- When you have selected your debt amount, click on the “See Savings” button
- Choose the amount you are behind on your payments
- Select your state of residence
- Then, hit Submit after entering all necessary contact information
How Much Does Pacific Debt Relief Charge?
The amount of money you owe and the type of repayment plan you choose will affect how much you pay in fees. Their fees are usually 15-25% of your enrolled debt, so for example, if you have $10,000 in debt, you would pay us $1,500-$2,500 over the life of the loan.
You will have to determine your monthly payment based on the terms of your debt consolidation loan. Also, you don’t have to pay anything upfront to use their services. Pacific Debt may be the right option if you need debt settlement services with no hidden costs or surprises.
How Much Could You Save With Pacific Debt Relief?
Choosing Pacific Debt Relief could be a good option if you are looking to save money on your debt. Typical savings of 50% could save you a considerable amount of money. Please keep in mind that this is before fees are taken into account.
When you take into account fees, average savings are 15% to 35%. Therefore, Pacific Debt Relief may not be the best choice for those who want to save as much money as possible. However, Pacific Debt Relief could be a good option for those who are willing to forego some potential savings for the convenience of working with a reputable company.
What Is The Minimum Credit Score For A Pacific Debt Relief Loan?
660 is the minimum credit score required for a Pacific Debt Relief loan. In some cases, they may be able to work with you even if your credit score is below this. Their loans have low-interest rates and flexible repayment terms. It is possible, however, for your interest rates to be higher if your credit is poorer than expected.
How Long Does It Take For The Pacific Debt Relief Program To Begin Resolving Your Debt?
Among the claims of Pacific Debt Relief is that it will help you resolve your debt as quickly as possible. Following your enrollment, they will negotiate with your creditors to allow you to pay your debts in full.
Their debt resolution process typically takes 12 to 36 months. It will be their responsibility to work with you during this period to develop a budget and payment plan that is tailored to your unique financial situation. If you are experiencing difficulty making payments on your credit card debt, they may be able to negotiate a lower interest rate or monthly payment amount with your creditor.
How Does Pacific Debt Relief Affect Your Credit?
There is no doubt that debt relief can negatively impact your credit score. But you may not be aware of the extent to which Pacific Debt Relief affects your credit score.
Debt relief programs offered by Pacific Debt Relief can help to reduce your monthly payments and/or interest rates by negotiating with your creditors on your behalf. This process, called debt settlement, may be able to help you get out of debt faster.
In the event your creditors agree to their debt settlement offers, you will make regular payments to them rather than directly to your creditors each month. These payments will be held until your debt is paid in full.
After your debt is settled, your credit bureaus will show it as “settled.” In turn, your credit score will suffer. Although debt settlement is better than bankruptcy for your credit, it must be noted that it still results in a worse credit score.
How To Use Pacific Debt Relief’s Website
You can find great information about debt relief on Pacific Debt Relief’s website. Here are some tips on how to make the most of it.
To begin, head to the “Calculate Your Savings” tool. Pacific Debt Relief can provide you with an estimate of the amount of money you can save when you work with us.
Next, you should take a look at the “Success Stories” section. Seeing cases of real-life debt relief by Pacific Debt Relief is an excellent way to learn more about the company.
The final step is to review the section entitled “Frequently Asked Questions”. The following will answer your questions about consumer debt settlement and Pacific Debt Relief’s services.
If you follow these simple steps, you’ll soon find debt relief.
Pacific Debt Relief BBB Review
If you’re thinking about using Pacific Debt Relief to solve your debt problems, you may be wondering about their BBB rating. Here are Pacific Debt Relief’s BBB rating and complaint history.
Since 2010, Pacific Debt Relief has been accredited by the Better Business Bureau and currently holds an A+ rating. A total of three complaints were resolved in the past three years, and one complaint was resolved in the recent past. It is important to note that this is not a perfect record, but it does demonstrate that Pacific Debt Relief is generally responsive to complaints that are filed against it.
In light of their BBB rating, Pacific Debt Relief is a company you may want to consider if you wish to get your finances back on track with Pacific Debt Relief. Take the time to read through the company’s complaints history to gain a fuller understanding of its operations.
Here are some Pacific Debt Relief BBB reviews:
Brian D 07/22/2022
****** was super nice and eager to help. He didn’t hesitate to explain how things work and put me at ease. He wasn’t a fast talker like someone trying to make a sale. ****** made sure I fully understood the program and what the end result would be.
Is Pacific Debt Relief Legit?
Likely, you are not the only one asking yourself this question. People are wondering whether this company is legit and whether it settles millions of dollars in consumer debt each month.
Well, as far as we are concerned, Pacific Debt Relief is a legit company that has helped thousands of people overcome their debt problems. The company has an A+ rating with the Better Business Bureau and has been in business for over 20 years.
There is one serious drawback of this company in that they only provide service to half of all states nationwide. Additionally, you may not receive the most competitive offer. You can consider finding a company that offers a lower interest rate or fee.
If you are looking for a legit company to help you manage your debt, Pacific Debt Relief is a good choice. So, if you’re searching for a legit company to help you get out of debt, Pacific Debt Relief is a great option.
LendingTree Review: Banks Competing For Your Personal Loan
LendingTree is an online lending marketplace that helps borrowers compare offers from various lenders. Founded in 1997, LendingTree’s goal is to simplify the loan research process for borrowers. By offering a convenient way to compare offers from multiple lenders, LendingTree has quickly become one of the leading online lending marketplaces.
LendingTree Loan Fast Facts
The loan amounts range from $1,000 to $50,000
The APR ranges from 3.99% to 35.99%
The minimum credit score is 629
- Various types of personal loans are available, including secured and unsecured loans
- Lender-specific repayment terms can vary
- Taking out a loan directly or through a marketplace: Marketplace
- Depending on the lender, turnaround time varies
- You can compare a variety of loan options
Lending Tree Pros & Cons
Pros
- Most lenders accept a single application for pre-qualification
- Up to $50,000 in loans
- You can use your loan for anything you want
- Ratings on BBB and Trustpilot are high
- A responsive customer support team
Cons
- It is not a direct lender, so rates may vary
- Credit must be good to excellent
- The company’s network partners may contact it frequently and send emails to it
LendingTree Cost Of Loan
In terms of yield, LendingTree’s personal loans have an average APR range of 3.99%-35.99%. It is important to note, however, that only individuals with good to excellent credit will qualify for low-interest rates. The lender will determine all other fees.
LendingTree Qualification
There are a few criteria you need to meet to get started with LendingTree:
- Citizen or permanent resident of the United States
- A minimum age of 18 is required
- An account with a valid bank
- Providing proof of income
LendingTree also requires the following information to process your loan application:
- An identification card issued by a government agency
- Paystubs from recent paychecks
- Address proof
- A FICO score of 629 or higher
Following these steps will help you get started with LendingTree after you’ve met all the qualifications:
- Start the application by clicking Go to LendingTree
- Choose the purpose of your loan and the amount you wish to borrow
- Information regarding your contact details and some financial details should be submitted
- Select whether you want to apply with a co-borrower. You will need to provide their personal information if this is the case.
- Click See Your Results to submit your application after entering the last 4 digits of your Social Security number.
After you are approved, which usually takes a few minutes, you will see at least five loan options that match your credit rating and loan amount. The lender you have chosen will then contact you directly after you have selected the best option for you.
LendingTree Reviews And Ratings
A+ rating from the Better Business Bureau for LendingTree
There are more positive customer reviews than negative ones for LendingTree.
It has received over 8,000 reviews on Trustpilot, with an average rating of 4.4 stars. The negative reviews on Trustpilot are usually from customers who couldn’t contact a lender, or, in some cases, people who were matched with lenders but couldn’t find anything that fit their needs.
Is LendingTree Legit? Remember This…
- The information you submit to Lending Tree is shared with their partnered lenders, but you don’t need to worry about this. Consider applying directly to a lender of your choice if you are concerned about this.
- There is no funding involved with Lending Tree as it is an online personal loan marketplace. You can use it to find and compare loans, as well as locate a suitable lender.
- For information on repayment methods and late payment fees, you will need to check your lender’s repayment policy. Lending Tree does not explicitly set your interest rate or repayment term.
- Medical expenses, major purchases, and debt consolidation are just a few of the reasons why Lending Tree offers personal loans.
- There is no hard credit check conducted by Lending Tree. Using the online form will not negatively affect your credit score, but you should expect your lender to eventually conduct a credit check, which can temporarily lower it.
- Whenever you have questions, remember to contact Lending Tree and your lender.
