Lendmark Financial Services

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So you’re looking for a Lendmark Financial Services review, eh? You came to the right place. In this blog post, we’ll take a look at Lendmark Financial Services and determine whether or not it is a scam. We’ll also discuss their debt consolidation loans and see if they are the right choice for you. Let’s get started!

Lendmark Financial Services is a company that provides debt consolidation and personal loans. They are headquartered in Georgia and have been in business since 1996. Lendmark Financial Services has an A+ rating with the Better Business Bureau but they are not accredited.

Let’s take a closer look at their debt consolidation loans. Lendmark Financial Services offers two types of debt consolidation loans: unsecured and secured. Unsecured debt consolidation loans do not require collateral, while secured debt consolidation loans do. Lendmark Financial Services also offers fixed-rate and variable-rate options for their debt consolidation loans.

Now that we know a little bit more about Lendmark Financial Services, let’s answer the question: is Lendmark Financial Services a scam or legit?

In our opinion, Lendmark Financial Services is not a scam. They are a legitimate company with an A+ rating from the Better Business Bureau. However, we would not recommend using their services for debt consolidation loans.

The reason why is because they use bait and switch pricing. What this means is that they will advertise a low monthly payment but then switch you to a higher interest rate after you sign up. This is not something we want to see from a company that offers debt consolidation loans.

Lendmark Financial Services Review: Beware Of This Lending Company, Read Our Review Before You Decide 1

Lendmark Financial Services Review: Beware Of This Lending Company, Read Our Review Before You Decide 2

Lendmark Financial Services Pros and Cons

Lendmark Financial has more cons than pros. I’ll start with the good: they offer debt consolidation loans, which can be helpful if you’re struggling to make multiple payments each month.

However, their bait and switch scheme is a major con. They advertise a low-interest rate, but once you’re approved for the loan, the interest rate is significantly higher. This is a major red flag – why would they need to trick people into taking out a loan with them?

Finally, their interest rates are generally quite high, which means you’ll end up paying more in the long run even if you do consolidate your debt with them.

All in all, there are better options out there that won’t try to bait and switch you and will have lower interest rates.

What is Lendmark Financial Services?

Lendmark Financial Services is a debt consolidation loan company that offers bait and switch schemes to customers. The company promises to help customers consolidate their debt but instead charges high fees and interest rates.

Lendmark Financial Services has been accused of predatory lending practices and is not accredited by the Better Business Bureau.

If you’re considering consolidating your debt with Lendmark Financial Services, be sure to do your research and understand the terms of their loans. You may be better off finding another debt consolidation company that is more reputable.

How does Lendmark Financial Services work?

Lendmark Financial Services is a debt consolidation loan company that offers loans to help people pay off their debts. The company works with creditors to lower interest rates and monthly payments so that borrowers can focus on paying off their debt. Lendmark also offers budget counseling and financial education to help borrowers get out of debt and stay out of debt.

However, many customers accused Lendmark Financial Services of bait and switch tactics. They said that the company promised to lower their interest rates and monthly payments but then raised the rates after they had already consolidated their debt. Others said that they were never able to get out of debt after taking out a loan from Lendmark.

If you’re considering debt consolidation, be sure to do your research and understand all the terms and conditions before taking out a loan. You don’t want to end up in more debt than you started with.

What is a debt consolidation loan?

A debt consolidation loan is a type of loan that allows you to pay off multiple debts with a single monthly payment. This can be helpful if you have several high-interest debt payments each month and want to simplify your finances.

There are two main types of debt consolidation loans: unsecured and secured. Unsecured debt consolidation loans are not backed by collateral, while secured debt consolidation loans are backed by collateral such as a home or car.

If you’re struggling with debt, consolidating your debts into a single loan can be a helpful way to simplify your monthly payments and reduce your interest costs. However, it’s important to compare lenders and terms before choosing a debt consolidation loan. Make sure you understand the repayment terms and can afford the monthly payments before signing on the dotted line.

What are some things to keep in mind if you’re considering a debt consolidation loan?

  • Compare interest rates, fees, and repayment terms from multiple lenders.
  • Make sure you can afford the monthly payments on the loan.
  • Understand the repayment terms before signing any paperwork.
  • If possible, consolidate your debts into a single unsecured loan. This will save you money on interest charges over time.
  • Shop around for the best debt consolidation loan rates and terms. Don’t be afraid to negotiate with lenders.
  • Use caution if you’re considering a secured debt consolidation loan. You could lose your collateral if you can’t repay the loan.
  • Read the fine print carefully before signing any paperwork. Make sure you understand all the terms and conditions of the loan agreement.
  • Get expert help if you’re having trouble managing your debt. A certified credit counselor can help you develop a debt management plan that consolidates your debts and helps you get back on track financially.

How to qualify for a Lendmark Financial Services debt consolidation loan?

If you’re considering a debt consolidation loan from Lendmark Financial Services, here’s what you need to know about qualifying for the loan.

To qualify for a debt consolidation loan from Lendmark Financial Services, you’ll need to have a minimum annual income of $24,000 and a minimum credit score of 600. You’ll also need to provide proof of employment and residency.

If you meet these qualifications, you can apply for a debt consolidation loan from Lendmark Financial Services online or by visiting one of their branches. Once you’ve been approved for the loan, you can use the funds to pay off your outstanding debts.

What kind of debt consolidation program does Lendmark Financial Services offer?

Lendmark Financial Services offers debt consolidation loans with high-interest rates and hidden fees. This program is not beneficial for consumers who are struggling with debt. The high-interest rates and hidden fees make it difficult to repay the loan, and the debt consolidation loan can end up costing more than the original debt.

Lendmark Financial Services is a bait and switch scheme that preys on consumers who are struggling with debt. There are better options out there for consolidating your debt.

How much does Lendmark Financial Services charge?

Lendmark Financial Services is a high-cost lender that charges interest rates of up to 35%. They also charge origination fees and late payment fees. For a $1000 loan, you could end up paying over $300 in fees. That’s not even counting the interest!

If you’re considering using Lendmark Financial Services, be sure to shop around and compare rates. There are plenty of other lenders out there that don’t charge such high fees.

What is the minimum credit score for a Lendmark Financial Services debt consolidation loan?

The minimum credit score for a Lendmark Financial Services debt consolidation loan is 600. If your credit score is below 600, you will not be able to qualify for a loan from Lendmark Financial Services.

Don’t let a low credit score stop you from consolidating your debts and getting your finances back on track. There are plenty of options available to you. Shop around and compare lenders until you find one that meets your needs. With a little effort, you can get the loan you need to consolidate your debts and get your finances back on track.

Who owns Lendmark Financial Services?

The answer is no one really knows. The company is privately owned and the CEO, Mr. Bobby Aiken, does not share information about the ownership structure with anyone. This lack of transparency is troubling, particularly given that Lendmark is a financial services company. If we can’t trust the leadership of the company to be open and honest with us, how can we trust them with our money?

In Addition, The Lendmark Financial Class Action Lawsuit further claims that Lendmark has not provided any kind of warnings to consumers about problems with their services and has even gone so far as to block notices and complaints from becoming public.

This is unacceptable behavior from a company that is supposed to be helping people get their finances in order. If Lendmark won’t listen to its customers when they have a problem, how can we expect them to help us achieve our financial goals?

Lendmark Financial ServicesClass Action Lawsuit

Lendmark Financial Services is facing a class-action lawsuit alleging it engaged in unfair and deceptive practices. The lawsuit, filed in federal court in Georgia, alleges that Lendmark used false and misleading advertising to lure customers into taking out loans they could not afford.

Lendmark Financial advertises its loans as being “quick and easy” with “no hassle.” However, the lawsuit alleges that the reality is quite different. Lendmark Financial’s loans often come with high-interest rates and fees and require borrowers to provide personal information such as bank account numbers and social security numbers.

The lawsuit seeks to represent all consumers who have been harmed by Lendmark’s allegedly unfair and deceptive practices. If you believe you may be affected by the lawsuit, you should contact a lawyer to discuss your legal rights.

Lendmark Financial is just one of many lending companies facing scrutiny for their allegedly predatory practices. If you are considering taking out a loan, make sure you understand the terms and conditions before signing anything.

And if you have already taken out a loan from Lendmark or another company, watch out for signs that you may be struggling to repay it. These include missing payments, being unable to afford other necessities like food and shelter, or receiving calls from debt collectors.

If you’re in over your head, don’t hesitate to seek help from a nonprofit credit counseling agency. They can assist you in creating a repayment plan or negotiating with your creditors.

How does Lendmark Financial Services affect your credit?

Lendmark Financial Services is a company that offers personal loans, lines of credit, and other financial services. If you’re considering taking out a loan from Lendmark, it’s important to understand how the company may affect your credit.

For one thing, Lendmark will do a hard pull on your credit report when you apply for a loan. This hard pull can temporarily lower your credit score by a few points. Additionally, if you make late payments on your loan, Lendmark may charge late fees which could also negatively impact your credit score for many years.

How to cancel Lendmark Financial Services’ debt consolidation loan?

If you’re not happy with your Lendmark Financial Services’ debt consolidation loan, you have the right to cancel it. But you’ll need to act quickly and there may be some fees involved.

Here’s what you need to do to cancel your loan:

  • Contact Lendmark Financial Services within three days of signing your loan agreement to cancel the loan.
  • You’ll need to repay any outstanding balance on the loan, plus any fees that may apply.
  • Once you’ve repaid the outstanding balance, your loan will be officially canceled.

It’s important to note that canceling a debt consolidation loan can be difficult and there may be some fees involved. So make sure you weigh all your options before signing up for one. And if you do decide to cancel, be sure to follow the steps above to avoid any issues.

Who is Lendmark Financial Services affiliated with?

Lendmark Financial Services is a national lender that offers personal loans, automobile loans, and debt consolidation services.

Lendmark Financial Services is not affiliated with any particular bank or credit union. However, the company does have relationships with several banks and credit unions across the country. These relationships allow Lendmark to provide financing to customers who may not qualify for a loan from a traditional lender.

If you are considering taking out a loan from Lendmark Financial Services, it is important to understand that the company is not affiliated with any particular financial institution. This means that you will need to research the terms and conditions of the loan carefully before agreeing to anything. Be sure to ask about interest rates, repayment terms, and any fees or charges that may be associated with the loan.

Lendmark Financial Services BBB Reviews

The Lendmark Financial Services BBB reviews are not good. The company has a lot of complaints against it and is not accredited by the BBB. If you are considering using this company, you should be aware of these facts. 156 complaints have been filed against Lendmark Financial Services in the last three years and 71 of those complaints were filed in the last twelve months. That is a lot of unhappy customers. The BBB does not recommend this company and you should consider that before doing business with them.

Here are some Lendmark Financial Services BBB reviews:

Kat I 05/06/2022

We had dealings with them several years ago. Seems they were preying on black communities then. We folks start catching on, the marks of predators are to move on to another demographic. We got a settlement check a few years after their dishonest treatment of us. Here’s some free advice for them, what you do to others will come back. No one escapes THAT law.

Chantelle J 04/06/2022

Please don’t use Lendmark for financial support. I would never recommend them to anyone. You are better off figuring out a way to sort through your financial difficulties. They are loan sharks.

Charlene A. 03/29/2022

I sent 2 payments in the same ************* was posted, the other was not, I called the location where I received the loan. They told me to trace the money orders, and I would but which one to I trace, she said there was nothing I could do about it because my payments were mailed to ******. I receive statements every month from **** B2. *******, **. 21222-2111, but said they have nothing to do with payments, please tell me how this can be resolved, these companies should not be able to take your money and not be held accountable to give you information about your payments if there are questions.

Is Lendmark Financial Services Legit or a Scam?

Lendmark Financial Services has been accused of bait and switch schemes, as well as being involved in a class-action lawsuit. There are a lot of negative reviews of the company online, so it’s hard to say if they’re legit or not.

However, the bait and switch schemes and the class action lawsuit make it seem like Lendmark Financial Services is more interested in making money than helping its customers. If you’re considering using their services, you should be aware of these potential problems.

Please leave a comment below if you have any experiences with Lendmark Financial Services that you would like to share. We would love to hear from you!

Thanks for reading!

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Lendmark Financial Services Review
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Lendmark Financial Services Review

Lendmark Financial Services has been accused of bait and switch schemes, as well as being involved in a class-action lawsuit. There are a lot of negative reviews of the company online, so it’s hard to say if they’re legit or not.

However, the bait and switch schemes and the class action lawsuit make it seem like Lendmark Financial Services is more interested in making money than helping its customers. If you’re considering using their services, you should be aware of these potential problems.

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