FreedomPlus- Unsecured Loans Without Excellent Credit

Bills.com Team
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Bills Bottom Line

Tens of millions of Americans can now get approved for an unsecured loan due to their credit. FreedomPlus has a unique underwriting system that takes into account factors that traditional lenders ignore. This allows them to offer loans to people at reasonable interest rates to borrowers who can't qualify for loans elsewhere.

4.5
/5.0
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FreedomPlus Customizes Loans to Fit a Consumer's Unique Needs

FreedomPlus is a new place for consumers to find unsecured loans at competitive rates.

FreedomPlus is geared towards borrowers with credit scores that often prevent them from qualifying for unsecured loans from banks or peer-to-peer lenders. There are approximately 42 million Americans with credit scores between 600-700. Consumers with less than excellent credit often are shut out by lenders and can't find reasonable rates and repayment terms.

The main benefits of the program are:

  1. Expanding the number of people who are eligible for unsecured personal loans
  2. Providing a simple and private application process
  3. Offering consumers lower interest rates than most other credit alternatives
  4. Keeping payments down through reasonable installment plans

If your credit is not excellent, but is improving and you're having trouble finding a loan, speak with one of the consultants at

Unsecured Loans Tips

Unsecured loans usually have a higher interest rate than secured loans, because you're not offering the lender any collateral it can take from you, should you default on the loan.

Still there are risks whenever you take out a loan. If you don't repay it as agreed, then you can face collection efforts.

You may be helped by an unsecured loan. If it helps you better manage your cash-flow, establish better payment terms on existing debt, or purchase something you need and could not otherwise afford, a unsecured loan may be a good choice.

It is not wise to take an unsecured loan when it adds to your debt load and you won't be able to handle your monthly payments.

Bills Action Plan

Before you take out any unsecured loan, make sure that you:
  1. Know the size of your monthly payment
  2. Know how many payments in total you're required to make
  3. Understand whether there are any application or processing fees
  4. Understand if the loan has a pre-payment penalties
  5. Shop around to find the best loan rate and terms

Editor's Note: FreedomPlus is offered by Freedom Financial Asset Management (FFAM). FFAM is a division of Freedom Financial Network. In the spirit of full disclosure, Bills.com is part of the Freedom Financial Network.

4.5
/5.0
(10 Votes)

6 Comments

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  • 35x35
    Feb, 2011
    Martha
    Is Freedom Plus associated with the Freedom Debt Relief program? I think that I need the Freedom Debt Relief debt programs and would like to apply online, and want to know if FreedomPlus.com will help me get started.
    1 Votes

    • 35x35
      Feb, 2011
      Bill
      You can apply for the Freedom Debt Relief program through the Freedom Plus site, and also compare all of your options - including debt resolution, credit counseling and the cost of different payment plans. Good luck with Freedom Plus and resolving your debts.
      5 Votes

  • 35x35
    Dec, 2010
    Gary
    Does Freedom Plus offer credit counseling and debt settlement type of services? WHat kind of debt relief can I get with Freedom Plus.
    3 Votes

    • 35x35
      Dec, 2010
      Thanks for your question Gary. Yes, Freedom Plus can quote you payoff, monthly payment, and time to debt freedom estimates for the major debt payoff options, including: Minimum Monthly Payments, Credit Counseling and Debt Resolution services such as Debt Settlement. Go through the process, it's free, and see what your cost of debt freedom could be.
      7 Votes

    • 35x35
      Jan, 2011
      Brava
      Will Freedom Plus programs give me a new loan or counseling and consolidation help?
      1 Votes

    • 35x35
      Jan, 2011
      Bill
      It appears on the FreedomPlus.com website that they can compare costs and payments for several debt solutions, including credit counseling, making payments, debt resolution or debt settlement and some consolidation loans.
      2 Votes