Debt Consolidation Company Reviews


Western Sky Loans
Overall rating:
0.0 of 5.0
Rates & Fees:
0.0 of 5.0
Customer Service:
0.0 of 5.0
Knowledge & Expertise:
0.0 of 5.0
Show detailed

Western Sky Loans makes high-interest, unsecured loans. Interest rates range from 89.68% to 342.86% APR. Loan amounts range from $850 to $10,000. There are loan fees, too, taken from the loan amount up-front. Loans have no prepayment penalty. Western Sky makes loans in over half the states in the USA.

Headquarters:
Timber Lake, SD
0 Reviews

Cash Call Personal Loans
Overall rating:
0.0 of 5.0
Rates & Fees:
0.0 of 5.0
Customer Service:
0.0 of 5.0
Knowledge & Expertise:
0.0 of 5.0
Show detailed

Cash Call makes high-interest personal, unsecured loans. Loan amounts range from $2,600 to $25,000. Interest rates range from 35.87% APR on a $25,000 loan to 184.36% on a $2,600 loan. According to the Cash Call Web site, "not all applicants will qualify for every loan product or the lowest interest rate for a particular loan product. Some applicants will not qualify for any of our products." Cash Call makes it clear that their lowest rates (still quite high rates) and higher dollar loans are available only to customers with excellent credit.

The CFPB filed a lawsuit against Cash Call and two related companies in December 2013. See this Bills.com article to learn more about the CFPB's Cash Call lawsuit.

Headquarters:
Anaheim, CA
Website:
www.cashcall.com
0 Reviews

Springleaf Personal Loans
Overall rating:
0.0 of 5.0
Rates & Fees:
0.0 of 5.0
Customer Service:
0.0 of 5.0
Knowledge & Expertise:
0.0 of 5.0
Show detailed

Springleaf Financial has been in business, under different names, since 1920. Springleaf offers unsecured loans and vehicle title loans in 30 states. Customers can begin the application process online or visit a branch office. Online applications must be finalized in person in a branch location. Springleaf loans are available to consolidate debt, make home improvements, pay for college expenses, or to cover an emergency expense. Springleaf loans do not have any prepayment penalties.

Headquarters:
Evansville, IL
0 Reviews

SoFi
Overall rating:
0.0 of 5.0
Rates & Fees:
0.0 of 5.0
Customer Service:
0.0 of 5.0
Knowledge & Expertise:
0.0 of 5.0
Show detailed

SoFi serves its target market of well educated, high income or high potential income borrowers well. Their non-traditional underwriting criteria cause their personal loan funding to average about 7 days. Rates are competitive. They offer interest rate discounts for making your monthly payment by automatic withdrawal. The average customer rating at the BBB was 2 stars, out of 5, based on 162 reviews (as of November 2018).

Headquarters:
San Francisco, CA
Website:
www.sofi.com
0 Reviews

Avant
Overall rating:
0.0 of 5.0
Rates & Fees:
0.0 of 5.0
Customer Service:
0.0 of 5.0
Knowledge & Expertise:
0.0 of 5.0
Show detailed

Avant offers loans to borrowers with FICO scores as low as 580. Their website states that most of their customers who receive a loan have scores between 600 and 700. Their credit requirements make Avant a good option for borrowers who would get turned down due to credit score by other lenders. However,  borrowers with low scores will end up with higher  interest rate.  

Avant charges an origination fee of up to 4.75% of the loan, a cost that is reflected in the Annual Percentage Rate you are quoted. There are no penalties for paying of your loan early. 

Website:
www.avant.com
0 Reviews

Take Charge America
Overall rating:
0.0 of 5.0
Rates & Fees:
0.0 of 5.0
Customer Service:
0.0 of 5.0
Knowledge & Expertise:
0.0 of 5.0
Show detailed

Take Charge America's website presents a wide range of information, emphasizing the counseling they offer for consumer, housing, and student loan debt.  The specialty in student loan counseling is unique among the credit counseling firms that Bills.com researched.

The debt management plan (DMP) that Take Charge America offers has a set up fee of $39. They charge a monthly service fee, too. 

Take Charge America offers a flexible start date for the DMP, so consumers can choose the date that is best for them. Consumers can choose to exclude any account they don't want to enroll. 

TCA  presented a detailed working agreement for their DMP. Presenting a plan in black and white makes it easy consumers to easily compare it with proposals from other credit counseling firms. A written proposal that shows the interest rates in effect in a DMP also makes it easy for consumers to decide whether or not to enroll a specific credit card that has a lower interest rate than the DMP can obtain. 

Headquarters:
Phoenix, Arizona
0 Reviews

LendingPoint
Overall rating:
0.0 of 5.0
Rates & Fees:
0.0 of 5.0
Customer Service:
0.0 of 5.0
Knowledge & Expertise:
0.0 of 5.0
Show detailed

LendingPoint is worth checking out if you are a borrower with a credit score in the range of 600-680. The LendingPoint site says that borrowers with "credit scores in or near the 600s." This gives the impression that some borrowers with sub-600 scores may qualify or that LendingPoint seems them as potential borrowers in the near future.

The interest rate range of 15.49% APR to 35.99% APR is high, but whether or not LendingPoint offers a "good" rate is based on a borrower's needs and what loan rates are from other lenders.

LendingPoint offers an innovative service that permits borrowers to use debit cards for loan payments they make online or over the phone, and are working to disburse loan funds to the borrower to a borrower's debit card.

Headquarters:
Keenesaw, Georgia
0 Reviews

Marcus, by Goldman Sachs, Personal Loans
Overall rating:
0.0 of 5.0
Rates & Fees:
0.0 of 5.0
Customer Service:
0.0 of 5.0
Knowledge & Expertise:
0.0 of 5.0
Show detailed

Marcus , by Goldman Sachs, is an online personal loan lender. Marcus, By Goldman Sachs sets themselves apart from other lenders by emphasizing "Personal Loans With No Fees. Ever." That means no origination, application, or even late-payment fees.

Backed by Wall Street giant Goldman Sachs, Marcus doesn't need to sell loans to investors, so they pass on cost savings by avoiding fees.

Marcus has a modern, well-designed website that is easy to use. They state that you can see your loan options in 5 minutes or less without affecting your credit.

Marcus, by Goldman Sachs, targets customers with a credit score 660 or higher. The best rates are available to borrowers with excellent credit. 

The length of time you choose for repaying your loan affects your rate, too. In general, the longer you take to pay back the loan, the higher the rate.

Headquarters:
Draper, Utah
Website:
www.marcus.com
0 Reviews

NetCredit
Overall rating:
0.0 of 5.0
Rates & Fees:
0.0 of 5.0
Customer Service:
0.0 of 5.0
Knowledge & Expertise:
0.0 of 5.0
Show detailed

NetCredit offers a loan product for very specific customer: a borrower with bad credit and a need for cash that is so great that the high costs that NetCredit charges are still worth it to a borrower.

NetCredit's lowest interest rate of 35% APR is not so much higher than the highest rates from many other lenders who offer personal loans. However, they have rates as high as 155% APR. The high average interest rate NetCredit borrowers get is viewable at the NetCredit website. There, you can see the average rate that is broken down by state. In December 2018, the average rate shown for "typical loan" in California is 84%, and in New Mexico 101%.

Instead of comparing NetCredit to other personal loan lenders, it seems reasonable to compare them to payday loan lenders. Both serve borrowers with bad credit and limited options. NetCredit reports borrowers' payments to two of the credit bureaus, so timely payments on the loan will improve the borrower's credit. 

It is possible that a high rate loan could benefit you, but exercise caution. Make sure you can afford the payment and fully understand the costs.

Headquarters:
Chicago, Illinois
0 Reviews

Earnest Personal Loans
Overall rating:
0.0 of 5.0
Rates & Fees:
0.0 of 5.0
Customer Service:
0.0 of 5.0
Knowledge & Expertise:
0.0 of 5.0
Show detailed

Earnest personal loans are geared to borrowers with strong credit and who are not carrying a lot of debt.

All loans with Earnest are applied for online. They have not storefront locations

Your loan application with Earnest requires you to provide some information and access to existing accounts with your bank that other lenders do not require. The reason customers provide this information is that Earnest uses it as part of their underwriting process to determine the risk of making the loan, and then approves borrowers for loans that other lenders will not approve. 

Earnest requires a minimum credit score of 680, but places a greater emphasis on their assessment of your future earning potential, based on your education, job history, and  Earnest's projection of your future income.

Earnest's loan process takes longer to complete than most lenders, because of the way they qualify borrowers. Still, it is not a very lengthy process. If approved, you should have funds in your account in less than two weeks.

Earnest's interest rates are competitive.

 

Earnest is an excellent place to look If your:

  • Credit score is at least 680.
  • Credit report doesn't reflect as lengthy a credit history as other lenders require.
  • Education and job history so far are strong indicators that your solid income will continue to rise.
  • Consumer debt, such as credit car and existing personal loan debts are not causing you to struggle with your payments.
  • You are a resident of any state or the Washington D.C., other than these fives states in which Earnest doesn't offer loans: Alabama.

Earnest makes loans to US Citizens or to either long-term permanent resident aliens or a conditional permanent resident aliens. Both must meet a minimum length of time.

Headquarters:
San Francisco, CA
Website:
www.earnest.com
0 Reviews

Find the Best Debt Consolidation Companies

Are you trying to get out of debt? Looking for ways to consolidate your debt? Check out the latest reviews of debt consolidation companies and give us your thoughts on any companies that you have worked with as well. 

loading...