You can use this review to determine which debt management company is the best option for you if you are interested in obtaining a loan or resolving your debt. For your benefit, Pacific Debt Relief vs LendingTree are compared to assist you in making an informed decision.
- 25th best financial firm, USA (INC Magazine)
- Minimum Debt $10,000
- No Minimum Credit Score
- $3 billion+ debt resolved
- BBB A+ Rating
- Minimum Debt $7,500
- No Minimum Credit Score
- $500 million debt resolved
Pacific Debt Relief Review: Is It The Best Option?
It is likely that you have heard of Pacific Debt Relief if you are in debt. Are you considering using a debt consolidation company to manage your debt? Since 2002, this company has been helping individuals reduce unsecured debts. To determine if this is the right debt relief option for you, we will examine the company’s history, services, and fees.
The debt settlement company not only consolidates credit card bills, medical bills, personal loans, and student loans but also consolidates unsecured debts. You will work with a debt counselor to create a debt consolidation plan tailored to your budget. You will be able to negotiate lower interest rates and monthly payments with your creditors once you join the program. If you are unable to make payments, they will work with you.
The experience of Pacificdebt.com sets it apart from other debt consolidation companies. Pacific Debt has been in business for more than 20 years and has assisted thousands of people in obtaining debt relief.
With Pacific Debt Relief, there is also a $49 setup fee and a $39 monthly fee. This is in addition to the online portal, customer support, and debt counseling services.
Pacific Debt Relief does not operate as a scam. They offer unsecured debt consolidation services with years of experience. Pacific Debt Relief is an option we strongly recommend.
Pros
- It is possible to obtain a free consultation without paying anything upfront
- You can save up to 35% after fees
- Monitoring your account online
Cons
- You are rushed into making a decision in a hurry
- Fees cause some consumers to lose 15% of their savings
- There are only a few states in which Pacific Debt offers its debt relief program.
Pacific Debt Relief: What Is It?
A debt relief program is a way to reduce or eliminate your debt. This can be accomplished by negotiation, settlement, or bankruptcy. Since 2002, the firm has settled or resolved more than $1 billion of outstanding debt. They are a leading provider of debt relief services, and they have assisted people in reducing their medical and credit card debts.
People who have trouble making minimum payments and wish to reduce their debt should consider these debt settlement companies.
Typically, people seek debt relief for a number of reasons. It may be that they have lost their jobs and are unable to meet their monthly obligations. It may also be that they have a medical emergency and cannot work. Whatever the reason, they will assist you.
They have an 85% success rate, so you can rest assured that they will do everything they can to assist you in getting out of debt.
How Does This Company Work?
Pacific Debt Relief Company can negotiate with creditors to lower customers’ interest rates and monthly payments using debt consolidation loans. By offering financial education, they hope to assist individuals in managing their money more effectively and preventing them from becoming indebted in the future.
By paying off your credit card debt and unsecured loans with a low monthly payment, Pacific Debt Relief has assisted thousands of people in getting out of debt.
See If You Qualify for Credit Card Relief
See how much you can save every month — plus get an estimate of time savings and total savings — with your very own personalized plan.
Summary
- Member of the American Fair Credit Council, Better Business Bureau, Consumer Affairs, and International Association of Professional Debt Arbitrators
- For a free consultation, customers may contact customer service by phone or online
- The fee varies from state to state and ranges from 15% to 25% of the total debt enrolled.
- Support can be provided by e-mail or telephone
- There must be a debt of at least $10,000 to be eligible for acceptance, and all unsecured debts must not yet be in a collection, except for consumer finance loans, payday loans, legal judgments, and medical bills.
- There is a free blog that provides information on debt management
- There are only 25 states served by Pacific Debt
- Negotiating debt settlements
- A+ rating from the Better Business Bureau and a 9.3 rating from Trustpilot
- Approximately 24 to 48 months are required for the turnaround
What Type Of Loans Does Pacific Debt Relief Offer?
A debt relief solution tailored to your specific needs can be found at Pacificdebt.com. The company offers debt consolidation loans as well as home equity investment opportunities to help you get out of debt.
Whether you are looking for a debt settlement company or a debt management company, Pacific Debt Relief can assist you. Using their network of creditors, they are able to negotiate lower interest rates and monthly payments for your benefit. You may be able to save money each month as a result, allowing you to repay your debt faster.
In spite of the heavy burden of debt, you may be able to repay it using the equity in your home. Using your property as collateral, you typically pay a lower interest rate than with a credit card or personal loan, resulting in lower monthly interest payments. In the event that you need a fresh start and wish to relieve yourself of debt, this type of loan can be beneficial.
No matter what your financial situation is, there may be a debt relief solution that meets your needs.
How To Qualify For It
You will find the following information helpful in determining whether you are eligible for a loan through Pacific Debt Relief if you are experiencing financial difficulties.
Pacific Debt Relief requires applicants to have a minimum of $10,000 in debt and a maximum of $100,000 in debt, as well as a good credit score and a steady income.
If you meet these requirements, Pacific Debt Relief’s debt relief loans may be an option for you.
Pacific Debt Sign-Up Process
A certified debt specialist will conduct a telephone consultation with you to determine whether debt settlement is the right solution for you.
Pacific Debt can provide a free online consultation by following these steps:
- Check out Pacific Debt Inc.
- To receive a free debt consultation, click on Free Consultation
- Click “See Savings” after selecting your debt amount.
- Choose the amount you owe
- Select your state
- Click Submit once you have entered all the necessary information
How Much Does Pacific Debt Relief Cost?
Fees vary depending on how much you owe and the type of repayment plan you choose. Their fees range from 15 to 25% of your enrolled debt, so if you owe $10,000, you will pay $1,500-$2,500 over the life of the loan.
Pacific Debt may be the right option for you if you require debt settlement services without any hidden fees or surprises. Your monthly payment will be determined by the terms of your debt consolidation loan.
How Much You Can Save With Pacific Debt Relief
There is a good chance that Pacific Debt Relief could save you a substantial amount of money on your debt. A typical saving of 50% may save you substantial amounts of money. Please note that these savings are before fees are applied.
For those who wish to save as much as possible, Pacific Debt Relief may not be the best choice when fees are taken into consideration. For those who are willing to sacrifice some potential savings in exchange for the convenience of working with a reputable organization, Pacific Debt Relief may be a good choice.
Pacific Debt Relief Loans: Minimum Credit Score Required
A credit score of 660 is required to apply for a loan with Pacific Debt Relief. However, if your credit score is below this level, they may be able to assist you. Their loans offer low-interest rates and flexible repayment terms. A lower credit score may, however, result in higher interest rates.
Pacific Debt Relief Program: How Long Does It Take To Begin Resolving Your Debt?
You can enroll with Pacific Debt Relief and they will work with your creditors to help you pay off your debts as quickly as possible.
As part of the debt resolution process, which typically takes between 12 and 36 months, it is their responsibility to work with you to develop a budget and payment plan tailored to your unique financial situation. Should you be experiencing difficulty paying your credit card debt, they may be able to assist you in negotiating a lower interest rate or monthly payment amount with your creditor.
How Does It Affect Your Credit?
There is no doubt that debt relief can negatively affect your credit score. However, you may not understand the extent to which Pacific Debt Relief affects your credit score.
Pacific Debt Relief may be able to reduce your monthly payments and/or interest rates by negotiating with your creditors on your behalf. This process, known as debt settlement, may allow you to get out of debt more quickly.
In the event that your creditors accept their debt settlement offer, you will be required to make regular payments to them rather than directly to your creditors each month.
Despite the fact that debt settlement is better for your credit than bankruptcy, it still results in a lower credit score when the debt is settled.
How To Use Pacific Debt Relief Website
Pacific Debt Relief’s website contains a wealth of information about debt relief. Here are some tips to make the most of it.
Visit Pacific Debt Relief’s “Calculate Your Savings” tool to determine how much you can save when you work with them.
Also, take a look at the “Success Stories” section, which provides valuable information about Pacific Debt Relief.
In the final step, you should review the section entitled “Frequently Asked Questions” to find answers to your questions regarding consumer debt settlement and Pacific Debt Relief’s services.
If you follow these simple steps, you will soon be able to escape debt.
Pacific Debt Relief Reviews
Pacific Debt Relief’s BBB rating and complaint history may concern you if you are considering using them to resolve your debt issues.
Three complaints have been resolved in the past three years, and one complaint was resolved recently. Pacific Debt Relief holds an A+ rating from the Better Business Bureau. Despite the fact that this is not a perfect record, it does demonstrate that Pacific Debt Relief is generally responsive to complaints.
To gain a more thorough understanding of how Pacific Debt Relief operates, review Pacific Debt Relief’s complaints history. Based on Pacific Debt Relief’s BBB rating, you may wish to consider their services.
Below are some BBB reviews of Pacific Debt Relief:
Brian D 07/22/2022
Pacific Debt Relief: Is It Legit?
There are many people who are questioning the legitimacy of this company and whether it settles millions of dollars in consumer debt each month.
It has an A+ rating with the Better Business Bureau and has been in business for over 20 years. Pacific Debt Relief provides legitimate debt relief services to thousands of people.
The drawback of this company is that it only provides services in half of the states nationwide, and you may not receive the most competitive offer. Consider seeking out a company with lower interest rates and fees.
When it comes to managing your debts, Pacific Debt Relief is a wise choice if you are looking for a legitimate company to assist you.
LendingTree Review: Banks Competing For Your Personal Loan
LendingTree is a consumer lending marketplace founded in 1997 that provides borrowers with the opportunity to compare loan offers from numerous lenders. Among the leading online lending marketplaces, LendingTree offers borrowers the convenience of comparing offers from multiple lenders. LendingTree’s goal is to simplify the loan research process.
Fast Facts
The loan amounts range from $1,000 to $50,000
There is a range of APRs from 3.99% to 35.99%
A credit score of 629 is required
- Various types of personal loans are available, including secured and unsecured loans
- Depending on the lender, repayment terms may vary
- Marketplace
- Depending on the lender, turnaround times may vary
- There are a variety of loan options available for comparison
Pros & Cons
Pros
- Most lenders accept a single application for pre-qualification
- You can borrow up to $50,000
- Loans can be used for anything
- BBB and Trustpilot ratings are high
- Responsive customer service
Cons
- As this isn’t a direct lender, rates may differ
- Excellent to good credit rating
- Partners may email the company frequently
How Much Does LendingTree Loan Cost?
There is, however, one caveat that should be taken into consideration. Only people with good to excellent credit will be eligible for a low-interest rate through LendingTree. All other fees will be determined by the lender.
How To Qualify For LendingTree
The following criteria must be met to become a LendingTree customer:
- U.S. citizen or permanent resident
- The minimum age is 18
- An active account
- Income proof is required
LendingTree also requires the following information:
- Government-issued identification
- Pay stubs from recent pay periods
- Address proof
- At least a 629 FICO score
Getting started with LendingTree is as simple as following these steps:
- Start your application at LendingTree
- Choose the purpose and amount of your loan
- You must provide contact and financial information
- You will need to provide the personal information of any co-borrower.
- Click See Your Results after entering your Social Security number to submit your application.
After you have been approved, you will receive at least five loan options based on your credit rating and loan amount. Once you choose the best option, the lender will contact you directly.
LendingTree Reviews
According to the Better Business Bureau, LendingTree has received an A+ rating
LendingTree receives more positive reviews than negative reviews.
It has received more than 8,000 Trustpilot reviews, with an average rating of 4.4 stars. Typically, people who write negative reviews on Trustpilot are customers who were unable to contact lenders or, in some cases, were matched with lenders but were not able to find a lender that met their needs.
LendingTree: Is It Legit?
- Consider applying directly to your preferred lender if you are concerned that your information will be shared with Lending Tree’s partnered lenders.
- You can make comparisons of loans on Lending Tree by locating a suitable lender and comparing their rates. Because Lending Tree is an online marketplace for personal loans, there is no funding involved.
- The repayment policy of your lender will provide information regarding repayment methods and late fees. Lending Tree does not set your interest rate or repayment period explicitly.
- Lending Tree offers personal loans for a variety of purposes, including medical expenses, major purchases, and debt consolidation.
- As Lending Tree does not conduct a hard credit check, you will not negatively affect your credit score by completing the online application, but your lender may eventually conduct one, which may temporarily lower your credit score.
- Whenever you have questions, you should contact Lending Tree and your lender.
