Whether you are looking for a personal loan or resolving your debts, this review provides you with a comparison of Pacific Debt Relief vs Lendvia to help you decide which company is right for you. The companies have some similarities and some key differences, so keep reading to learn more.
Pacific Debt Relief Review: There Is A Reason They Are Ranked #1
Do you have a lot of debt? Are you struggling to make your payments each month? You may be considering debt consolidation as a way to get out of debt. But before you choose a debt consolidation company, you want to make sure that they are legitimate and will not scam you. In this review of Pacific Debt Relief, 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.
Among the debt consolidation services offered by the debt settlement company are the consolidation of credit cards, medical bills, personal loans, student loans, and more. They have a team of debt counselors who will work with you to develop a debt consolidation plan that meets your financial needs. As soon as you enroll in their program, they will contact your creditors to negotiate lower interest rates and monthly payments. You will be assisted in finding a solution to your payment problems if you are having difficulty 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 happy customers, Pacific Debt has a proven track record of helping people get out of debt.
Pacific Debt Relief has some features that make it an attractive option for those in debt. First, there are no hidden fees or upfront costs. Second, they charge a one-time setup fee of $49 and then a monthly fee of $39, which includes access to their online portal, customer support, and debt counseling services.
Are Pacific Debt Relief’s services fraudulent? There is no scam involved with this company. With many years of experience helping people reduce their unsecured debts, they are a legitimate debt consolidation company. Pacific Debt Relief is a good option if you’re looking for debt relief.
Highlights
- Consultation is free and there are no upfront costs
- Fees could save you up to 35%
- Keeping track of your account is easy online
Trade-Offs
- The staff is pushy and prone to rushing you to make a decision
- Fees can reduce savings by as much as 15% for some consumers
- To be eligible for Pacific Debt’s relief program, you must live in a state where the company operates.
What Is Pacific Debt Relief?
The act of debt relief involves reducing or eliminating debt. A variety of methods can be used to accomplish this, such as negotiation, settlement, or bankruptcy. Over 30,000 clients have been helped by the firm since 2002 in settling and resolving over $1 billion in outstanding debt. With thousands of satisfied customers, they are a leading provider of debt relief services.
Consumers who are having trouble making minimum payments and are concerned about reducing their monthly payments should choose this debt settlement company.
There are many reasons why someone might need debt relief. Your job may have been lost and you are unable to pay your bills. It may be that you are dealing with a medical emergency and cannot work. It doesn’t matter what the reason is, they can help.
Depending on your needs and budget, they’ll tailor a solution for you. They have an 85% success rate, so you can be sure they’ll do everything in their power to help you.
How Does Pacific Debt Relief Work?
Pacific Debt Relief provides debt consolidation loans to assist people in getting out of credit card debt. To lower their customers’ monthly payments and interest rates, the company negotiates with creditors. The organization also provides financial education to help people manage their money better and avoid becoming indebted in the future.
You can save on interest by consolidating your credit card debt and unsecured loans into one low monthly payment. Their success rate is high, and they have helped thousands of people become debt-free.
Pacific Debt Summary
- Affiliations: The American Fair Credit Council, the Better Business Bureau, Consumer Affairs, and the International Association of Professional Debt Arbitrators
- Customer Service: Free phone or online consultations
- The cost: is 15% to 25% of the total debt enrolled. States charge different fees.
- Contact: Phone or email
- Debts accepted: All unsecured debt except consumer finance loans, payday loans, legal judgments, and medical debts not already in collections will be accepted. A minimum debt of $10,000 is typically considered
- Free resources offered: Debt management blog with useful information
- Restrictions: Only 25 states offer Pacific Debt services
- Service offered: Direct negotiation for debt settlement
- Trust ratings: A+ rating from the Better Business Bureau and 9.3 rating from Trustpilot
- Turnaround time: Between 24 and 48 months
What Kind Of Loans Does Pacific Debt Relief Offer?
With Pacificdebt.com, you can consolidate debt and invest in home equity to reach your debt goals. You can customize a debt relief solution that fits your unique needs with their variety of loan options.
Pacific Debt Relief can help if you need a debt settlement company. The company negotiates lower interest rates and monthly payments with a network of creditors on your behalf. You will be able to save money every month as a result, which will enable you to get out of debt more quickly.
If you have equity in your home, you may be able to use that equity as collateral for a home equity loan. A loan of this type may be able to provide you with the funds you need to pay off your debt and start over. The interest rate on home equity loans is typically lower than that on credit cards or personal loans, which allows you to save on interest payments.
Regardless of your financial situation, Pacific Debt Relief may be able to help you find a debt relief solution that fits your needs.
How To Qualify For Pacific Debt Relief
Those who are struggling with debt may seek debt relief companies to assist them in getting back on track. However, what are the requirements for obtaining such a loan? Here is information about how Pacific Debt Relief may be able to assist you.
You must have a minimum of $10,000 in debt and a maximum of $100,000 in debt to qualify for a debt consolidation loan through Pacific Debt Relief. You will also need a good credit score and a steady income to
If you meet these qualifications, you may be eligible for a debt relief loan from Pacific Debt Relief. It is a simple process that helps you get out of debt faster than other debt relief companies.
How To Sign Up With Pacific Debt
You will begin the enrollment process by speaking with a certified debt specialist who will discuss your financial situation and determine if debt settlement is the right option for you.
Here’s how you can schedule a free Pacific Debt consultation:
- Visit Pacific Debt Inc.’s website
- Get a free debt consultation by clicking Free Consultation
- Click See Savings after selecting the amount of your debt
- You can select the amount of time you are behind in your payments
- Select your state of residence
- Hit Submit after entering all relevant contact information
How Much Does It Cost To Use Pacific Debt?
That depends on how much debt you have and what kind of repayment plan you are considering. Their fees are typically 15-25% of the enrolled debt, so if you have $10,000 in debt, you can expect to pay us $1,500-$2,500 over the life of the loan.
The monthly payment amount is only an estimate – your debt consolidation loan terms will determine your actual payment amount. The use of their services is free of charge. Therefore, Pacific Debt may be the best option for you if you are looking for debt settlement services without any hidden fees or surprises.
What Could You Save With Pacific Debt Relief?
If you are seeking to save on your debt, Pacific Debt Relief might be a good option for you. With an average savings of 50%, you can save a significant amount of money. Keep in mind, however, that this is before fees are applied.
Fees are included, and average savings range from 15% to 35%. Therefore, Pacific Debt Relief may not be the best option for saving money. Pacific Debt Relief could be a good choice if you’re willing to trade some potential savings for the convenience of working with a reputable company.
What Is The Minimum Credit Score For A Pacific Debt Relief Loan?
Credit scores of 660 or higher are required for Pacific Debt Relief loans. You may still be able to work with them if your score is lower than this. Besides offering low-interest rates, they also offer flexible repayment terms. If your credit score is lower than expected, you may face higher interest rates.
How Long Does It Take For The Pacific Debt Relief Program To Begin Resolving Your Debt?
According to Pacific Debt Relief, its program is designed to help you restructure your debt as quickly as possible. As soon as you have enrolled in the program, you will receive work with your creditors to negotiate a debt consolidation loan that will allow you to pay your debt in full.
In most cases, they can resolve our clients’ debts within 12 to 36 months. You will be working with them during this time to create a budget and payment plan that fits your unique financial situation. The company may be able to negotiate a lower interest rate or monthly payment amount with your creditor if you are having difficulty making your payments on your credit card debt.
How Does Pacific Debt Relief Affect Your Credit?
There is no doubt that debt relief can damage your credit score. Pacific Debt Relief may impact your credit indirectly, but you may not know it.
Pacific Debt Relief will negotiate with your creditors on your behalf to lower your monthly payments and/or interest rates when you enroll in a debt relief program. Settlement of debt is the term used to describe this process.
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. To pay your debt, they will hold onto these payments until we have sufficient funds available.
Credit bureaus will report your debt as “settled” once it has been paid off. It will negatively affect your credit score. Despite this, debt settlements are still better for your credit than declaring bankruptcy.
How To Use Pacific Debt Relief’s Website
A great resource if you’re looking for debt relief is Pacific Debt Relief’s website. You can use it in the following ways to get the most from it.
Start by using the “Calculate Your Savings” tool. You will be able to see how much money you could save by working with Pacific Debt Relief.
Next, you should review the “Success Stories” section. It is a great opportunity to see real-life examples of how Pacific Debt Relief has helped people.
Lastly, read through the “Frequently Asked Questions” section. You will find all the information you need about the debt settlement industry here, as well as how Pacific Debt Relief can help you.
It’s simple to get debt relief when you follow these simple steps.
Pacific Debt Relief BBB Reviews
You may be concerned about their BBB rating if you are considering Pacific Debt Relief to help you with your debt. We’ve got the scoop on Pacific Debt Relief’s BBB rating, plus information on their complaints history.
In the last three years, Better Business Bureau accredited Pacific Debt Relief has had three complaints closed and 1 complaint closed in the last 12 months. Although this record is not perfect, it does illustrate that pacific Debt relief is usually responsive to complaints filed against them.
You can take a look at Pacific Debt Relief’s BBB rating if you’re considering using their services to help reorganize your finances. To get a better understanding of the company, read its complaints history.
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?
Many people are asking themselves this question. People are wondering if this company is legit and if it settles millions of dollars in consumer debt each month.
Pacific Debt Relief is a legitimate debt relief company that has helped thousands of people recover from debt. The company has an A+ rating with the Better Business Bureau and has been in business for over 20 years.
The fact that they only serve half of the states nationwide is a serious drawback. In addition, you may not receive the most competitive price. If you can find a company with a lower interest rate or fees, you may be able to save money.
Many companies claim they can help you get out of debt, but not all of them are legitimate. Pacific Debt Relief is a company that is committed to helping people get out of debt and improve their financial situation. We recommend Pacific Debt Relief as a great choice for anyone serious about getting out of debt.
Lendvia Review: Is It Legitimate Or A Scam? Read This First
Lendvia Financial is a company that provides loans to people with bad credit. They are not a scam, and they are legitimate. However, they do not have a file with the Better Business Bureau (BBB) or the American Fair Credit Council (AFCC).
Lendvia Summary
Lendvia Financial is a loan-matching company that can help you consolidate your debt and get an installment loan from one of its lending partners. Their website, LendviaFinancial.com, has more information on their services.
In Sherman Oaks, California, they match borrowers with lenders based on their financial needs.
Key Aspects Of Lendvia
Customers are attracted to this company through pre-selected mail offers. You may have received a letter in the mail that said they want to help you consolidate debt
Having been intrigued by the offer, we decided to investigate further. Here is what we found:
- The interest rate offered by Lending Partners ranges from 4.99% APR to 34.99% APR.
- The loan amount ranges from $5,000 to $100,000.
- The company can help you choose the right lender for your situation, but approval cannot be guaranteed.
- The repayment terms will range from one year to five years.
- The company works with partners and third-party providers to collect your information. Your information is shared with their network of lenders when you apply for a loan.
What Is Lendvia?
Lendvia is a unique loan matching service that connects consumers with lending partners that originate debt consolidation loans. They are not lenders themselves, but they can help borrowers choose between loan options and work with a Loan Coach to get the best results. Their financial plan will help you pay off credit cards with a lower monthly payment.
It has been operating since 2019; its website states that it is located at 15303 Ventura Blvd. The company can be reached at [email protected] or by calling 888-699-3080.
In the lending world, Lendvia advertises itself as a company that helps its customers get out of debt faster and save more quickly.
Currently, Lendvia does not have a BBB file or a Trustpilot page where customers can read customer reviews.
How Does Lendvia Work?
Lendvia provides unsecured installment loans. Lendvia works like this:
1. Application Process With A “Loan Coach”
To assist you with the application process, you can consult with their Loan Coaches for free and without obligation. Your personal information, your debt level, your credit score, and whether you are behind on your payments are all required.
By submitting your information, you consent and authorize Lendvia Financial and its affiliates to contact you by telephone, text message, or email from any address you provide now or in the future. Dialing systems, prerecorded voice messages, and automatic dialing devices are all included in this category.
2. Choosing A Lender
Your information will be shared with Lendvia’s lending partners after you complete the application process.
3. Reviewing Your Loan Terms
Before signing documents and beginning the loan process, review your terms, verify your information, and carefully read the fine print.
Lendvia Consumer Reviews
Lendvia is not registered with the Better Business Bureau (BBB) or the American Fair Credit Council (AFCC).
Lendvia does not have any reviews on Google, Trustpilot, or Yelp.
How Much Does Lendvia Charge?
As far as the charges for their services are concerned, Lendvia does not explicitly state them.
There is an origination fee associated with this loan. This fee is a small percentage of the total loan amount and will be deducted from the amount of the loan at the beginning. It covers all costs associated with creating, managing, and servicing your loan. There are no other hidden fees, such as application fees, prepayment penalties, or annual fees. All terms and any fees will be disclosed to you before you accept any offer.
What Interest Rates And Terms Can I Expect?
The terms and conditions of Lendvia are simplified and fixed. Rates range from 4.99% APR to 34.99% APR, so you can find a repayment plan that meets your needs and budget with a lower monthly payment.
With Lendvia, customers can choose a loan amount between $5,000 and $100,000 and a term length between 1 and 5 years.
How Much Money Can I Save?
Debt consolidation can save you money in interest payments and lower your monthly payment, depending on how much debt you have. With a lot of debt, you could save thousands of dollars. Even with less debt, consolidating can still save money. You may also pay less in finance charges.
Qualification And Approval Factors
You deserve to know exactly what goes into a lending decision.
1 SPEAK TO A LOAN COACH There is no cost or obligation. You can work with your Loan Coach to complete the application.
2 CHOOSE YOUR TERMS Choose the offer that works best for you. You’ll be able to understand your options with the help of your Loan Coach.
3 VERIFY YOUR INFO.
Credit Utilization Ratio
Your credit utilization ratio plays a significant role in determining your credit score. The ratio is calculated by dividing your total outstanding balances by your credit limits. As an example, if you have two credit cards with $1,000 limits and owe $500 on one and $250 on the other, your credit utilization ratio would be 37.5%.
As part of the evaluation of your financial history, credit reporting agencies consider your credit utilization ratio heavily, as it indicates how well you manage your finances. Having a low credit utilization ratio indicates that you are good at handling your finances and keeping your balance in check. Contrary to this, a high ratio indicates that you may have difficulty paying your debts.
Debt-To-Income Ratio
Your DTI is a key factor in maintaining financial stability. This ratio measures your monthly debts against your monthly income. A high DTI suggests that you may be struggling to make ends meet and may have difficulty meeting other financial obligations. It’s important to stay on top of your debts and have room in your budget for other expenses.
Income History
You must have a reliable source of income that can be verified to get approved. It is ideal if you have been continuously employed for at least one to two years before applying.
Credit Score
When you apply for a loan, lenders consider your credit score. A higher FICO score increases your chances of receiving more favorable rates and terms.
Other Requirements That May Be Needed During The Application
You may need to provide a few things. Among them are:
- The photo or color copy of your identification, such as a passport, driver’s license, or state-issued identification card.
- Your two most recent pay stubs are required to prove your income. Your most recent 1040 tax documents are required if you are self-employed.
- Bank statements from the past few months.
Does Lendvia Affect My Credit Score?
Lenders in Lendvia’s network perform credit checks with TransUnion, Experian, and Equifax, as well as other sources of consumer information.
Your credit score will not be affected if you apply for a loan through Lendvia. In any case, if you choose a particular lender, your FICO score may be affected by a hard pull on your credit report.
How Does Lendvia Handle My Personal Information?
Using its network of lenders, Lendvia matches you with a lender that meets your specific financial needs. Customers must consent to lenders sharing their personal and contact information.
Therefore, you may receive calls, emails, or text messages from different companies in their network. If you wish to opt out, you can do so at any time.
What Happens With My Credit Cards?
You will be required to close some of your credit cards to qualify for any of Lendvia Financial’s offers. The choice is yours regarding which debts you wish to pay off and close, as well as which cards you may still have to pay daily.
So, Is Lendvia Legit?
Based on our research and analysis of Lendviafinancial.com’s online presence, we have concluded that it is a legitimate company. It is difficult to obtain a complete picture of the company due to the absence of reviews or accreditations attesting to its business practices.
Our recommendation is to read customer reviews and do your research before buying. Taking this approach will help you make the best choice for your situation.
