The decision to choose the right debt consolidation company is essential for the success of the process, no matter whether you need a personal loan or to settle your debts. Our objective in this review is to provide you with an overview of Pacific Debt Relief vs Monevo so that you can make an informed decision.
Pacific Debt Relief Review: Is It A Legitimate Company? Find Out Here.
Since 2002, Pacific Debt Relief has been helping people reduce their unsecured debts. With an A+ rating from the Better Business Bureau, they have helped thousands of individuals resolve their debt problems. Does Pacific Debt Relief operate as a scam? Does this company have a legitimate business license? To determine if Pacific Debt Relief is the right option for you, we examine the company’s history, services, and fees.
The debt settlement company offers debt consolidation services for credit cards, medical bills, personal loans, student loans, and more. You will be able to work with a team of debt counselors to develop a debt consolidation plan that suits your financial needs. If you enroll in their program, they will contact your creditors to negotiate lower interest rates and monthly payments. Payment problems can be resolved if you work with them.
Pacificdebt.com’s experience distinguishes it from other debt consolidation companies. It has been in business for over 20 years, and thousands of people have been assisted by them. The Pacific Debt Company specializes in assisting clients with the repayment of unsecured debt.
Additionally, Pacific Debt Relief charges a fee. Setup costs $49 and monthly fees are $39 at the beginning. They provide debt counseling services, customer support, and an online portal as part of the fee. Furthermore, there are no upfront fees or hidden charges.
Even though many companies offer these services, not all of them are legitimate. With many years of experience helping people reduce their unsecured debts, Pacific Debt Relief is one of the leading debt relief companies in the industry. The company is a legitimate debt consolidation company that can assist you with your debt relief efforts.
Pros & Cons
- Consultation is free and there are no upfront costs
- After fees, savings could be as high as 35%
- Your account can be easily monitored online
- The staff is pushy and tends to rush you into decisions
- Some consumers’ savings can be reduced by up to 15% due to fees
- In the states in which Pacific Debt operates, the company’s debt relief program is only available.
Pacific Debt Relief: What Is It?
Getting out of debt is something that many people struggle with. When there is a mountain of bills and payments piling up, it can be hard to know where to turn or how to get out. It is possible to find some relief, however, through the use of certain options. More than 30,000 clients have settled and resolved over $1 billion in outstanding debt through negotiation, settlement, or bankruptcy. Thousands of people have benefited from their services and gotten out of credit card and medical debts.
For consumers who are struggling to make minimum payments and are concerned about reducing their debts, debt settlement may be a good option. By working with a debt settlement company, you can negotiate lower balances and monthly payments with creditors on your behalf.
There are many reasons why people may need debt relief. Perhaps you have lost your job, which has made it difficult to keep up with your financial obligations. Your health has taken a toll and you are unable to work.
Depending on your needs and budget, they will create a solution that works for you. 85% of their cases are successful, so you can be sure they will assist you in every way possible.
How Does This Company Work?
A debt consolidation loan from Pacific Debt Relief can reduce credit card debt for individuals. Customers’ interest rates and monthly payments are negotiated with creditors by the company. In addition, they offer financial education so people can manage their money better and avoid debt in the future.
Combining credit card debt with unsecured loans can help you pay off your debt faster and save on interest. There have been many successful debt relief programs offered by Pacific Debt Relief, which have a high success rate.
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See how much you can save every month — plus get an estimate of time savings and total savings — with your very own personalized plan.
- Organizations with which they are affiliated: American Fair Credit Council, Better Business Bureau, Consumer Affairs, International Association of Professional Debt Arbitrators
- You can schedule a free phone or online consultation with a customer service representative
- Amount: 15% to 25% of the total debt enrolled. Fees vary from state to state.
- Support: Phone or email
- Debt Accepted: All unsecured debt except consumer finance, payday loans, legal judgments, and medical debts not already in collections is accepted. To be considered, the debt must have a minimum value of $10,000.
- Debt management resources: An informative blog
- Limitations: There are only 25 states where Pacific Debt is available
- Provided service: Debt settlement through direct negotiation
- Trust ratings: BBB A+ and Trustpilot 9.3
- Typical turnaround time: Approximately 24 to 48 months
What Type Of Loans Does Pacific Debt Relief Offer?
Consolidating debt and investing in your home equity are two ways to get out of debt using Pacificdebt.com. A variety of loan options are available to tailor a debt relief solution to your specific needs.
If you are looking for debt settlement assistance, Pacific Debt Relief can help. By negotiating on your behalf with creditors, they can lower interest rates and monthly payments. As a result, you can save money every month to pay off your debts faster.
Home equity loans are available with equity in your house as collateral. With this type of loan, you may be able to repay your debt and start over. If you take out a home equity loan instead of a credit card or personal loan, you will save money on interest payments.
There may be a way for Pacific Debt Relief to help you reduce your debt no matter what your financial situation is.
How To Qualify For It?
If you have debt problems and need assistance getting back on track, you might be looking for debt relief companies. How does such a loan work? Below you will find a list of the eligibility requirements for Pacific Debt Relief.
Pacific Debt Relief offers debt consolidation loans for borrowers who have a minimum of $10,000 in debt and a maximum of $100,000. In addition, you’ll need a good credit score and a steady income.
Those who meet these qualifications are eligible for debt relief loans from Pacific Debt Relief. You can reduce your debt quicker than with other debt relief companies thanks to the simple process.
How To Sign Up?
The debt settlement program is right for you if you answer some questions about your financial situation during enrollment.
Pacific Debt representatives can be contacted for a free consultation by following the steps below:
- Visit the Pacific Debt Inc. website
- By clicking Free Consultation, you can receive a free debt consultation
- Choose your debt amount, then click See Savings
- Depending on how far behind your payments are, you can choose how much you will pay
- Choose your state of residence
- Complete the form by entering all the required information
How Much Does Pacific Debt Cost?
Your debt and the type of repayment plan you’re considering will determine what’s best for you. Over the life of your loan, you could expect to pay $1,500-$2,500 for a $10,000 debt.
For a debt consolidation loan, the monthly payment is determined by the loan terms. There are no upfront fees associated with their services. When you’re looking for debt settlement services without hidden fees or surprises, Pacific Debt might be the right choice.
With Pacific Debt Relief, How Much Could You Save?
In case you are looking for ways to save on your debt, Pacific Debt Relief might be a good option to consider. It is possible to save a lot of money with an average saving of 50%. However, this is before fees are taken into account.
Fees are usually included in the calculation of savings, and the average savings is between 15% and 35%. As a result, Pacific Debt Relief might not be the most cost-effective option for you if you’re hoping to save money. Consider, however, that you’d rather work with a reputable company over some potential savings. You might be interested in Pacific Debt Relief if that’s the case.
Pacific Debt Relief Loan: What Is The Minimum Credit Score Required?
To qualify for Pacific Debt Relief loans, you must have at least 660 points on your credit report. However, if your score falls below this, they might still be able to work with you. There is no interest rate on their loans, and the repayment terms are flexible. It is possible to face higher interest rates if you have a low credit score.
Pacific Debt Relief Program: How Long Does It Take To Start Resolving Your Debt?
Pacific Debt Relief promises to get you out of debt as quickly and easily as possible. Debt consolidation allows you to pay off your debts in full by negotiating with your creditors. Their program gives you a fresh start and allows you to get back on track financially.
Typically, they can settle our clients’ debts between 12 and 36 months. You will be provided with a budget and payment plan based on your unique financial situation during this process. If you are having trouble paying your credit card debt, your creditor may be able to negotiate a lower interest rate.
How Does It Affect Your Credit?
It is possible for debt relief to negatively affect your credit score. Pacific Debt Relief, however, has a direct impact on your credit score that you may not be aware of.
When you enroll in a debt relief program, Pacific Debt Relief will negotiate with your creditors to reduce your monthly payments and interest rates. It is referred to as debt settlement.
If creditors accept your debt settlement offer, you will make monthly payments to them instead of directly. The company will hold onto these payments until they have accumulated sufficient funds to pay your debt.
Credit bureaus will report your debt as “settled” once it has been paid off. You will suffer a reduction in your credit score as a result. You can still save your credit from bankruptcy by settling your debts instead of declaring bankruptcy.
How To Use Pacific Debt Relief Website?
You can find excellent debt relief information on the Pacific Debt Relief website. Take advantage of it by following these tips.
Start by calculating how much money you can save by using the “Calculate Your Savings” tool.
Following that, you should review the “Success Stories” section. Learning about Pacific Debt Relief’s work through real-life examples is valuable.
In addition, you may find it helpful to read the “Frequently Asked Questions” section. The perfect place to ask questions about Pacific Debt Relief and debt settlement is here.
As long as you follow these simple steps, you’ll be well on your way to getting out of debt in no time.
Pacific Debt Relief Reviews
Pacific Debt Relief’s BBB rating may be of interest to you if you’re contemplating using them to reduce your debt. Here’s what the BBB has to say about Pacific Debt Relief and information about their complaints history.
A+ rating from the Better Business Bureau has been given to Pacific Debt Relief since 2010. Only one complaint has been closed in the past 12 months compared to three in the last three years. Although it is not a perfect record, it does show that they have generally responded to complaints.
If you are struggling to make ends meet, you might want to consider Pacific Debt Relief. If you check their BBB rating, you will be able to gain some insight into the company. For a better understanding of what they are like, you should spend some time reading the complaints history of the company.
Pacific Debt Relief: Is It Legit?
The legitimacy of this company is being questioned by some individuals. It is unclear whether this company will be able to settle millions of dollars in consumer debt each month.
Thousands of people have overcome debt with Pacific Debt Relief. They have been in business for more than 20 years, and they have an A+ rating with the Better Business Bureau.
There is one drawback to their service: they don’t cover all states. In addition to this, you might not be able to get the best deal. An interest rate or fee that is cheaper may be offered by another company.
It remains true, however, that Pacific Debt Relief can assist you in getting out of debt. The Pacific Debt Relief company is a great choice if you are searching for a legitimate debt relief company that you can trust.
Monevo Review – A Personal Loans Marketplace That Is Award-Winning
With Monevo, you can find the best rates from various lenders when it comes to finding a personal loan. This leading personal loan marketplace is based in San Diego, California, and offers low-interest rates and quick approval times to all of its customers.
There is a $500 – $100,000 range for the loan amount
There is an APR range of 3.49% to 35.99%
The minimum credit score is not set
- Unsecured personal loans with fixed interest rates are offered
- A repayment term of three months to seven years is available
- Lenders direct or marketplaces: Marketplaces
- Lender-specific turnaround times vary
- Those looking for a good deal on a loan should check out this lender
Pros & Cons
- There are various loan amounts available
- Quickly submit your form online
- The online form on Monevo does not hurt consumers’ credit scores.
- They are transparent and upfront with their partners.
- As the fastest-growing financial technology business in the UK, it was awarded The Sunday Times Tech Track 100 in 2013, as well as The Queen’s Awards for Enterprise in Innovation in 2017.
- There is a limited network of lending partners for them.
- Lenders will contact you frequently.
- Handwriting and automatic underwriting
How Much Does Monevo Loan Cost?
In addition to working with many lenders, Monevo offers a variety of loan options with varied rates, charges, penalties, and fees. A good way to get an estimate of what your loan will cost is to speak directly with your chosen lender to find out what the cost will be. As a general rule, Monevo’s lenders offer borrowers between 3.49% and 35.99% on their borrowing rates, depending on the credit history of each borrower.
How To Qualify For Monevo?
The following criteria must be met before you can begin:
- It is required that you are at least 18 years old
- Having a bank account is required
- Resident or citizen of the United States
- At least 450 points on your credit report
Monevo requires the following information to be applied for:
- Your annual income before taxes
- Identification numbers for social security
- Your credit score
You can get started with Monevo after meeting all the requirements by following these steps:
- It is necessary to enter your credit score, loan amount, and loan purpose.
- You will need to enter your social security number and annual income.
- Monevo’s terms and conditions must be accepted.
- You can submit your form by clicking “Get Your Results.”.
As soon as they submit the form, they will find a suitable partner within their network. The application can be approved within one day, and funds can be transferred within seven days.
Monevo has an A+ rating with the Better Business Bureau
Founded in 2012, Monevo has received 249 verified reviews for its Gold Trusted Service Award. In terms of star rating, it received a very respectable 4.5 out of 5. Overall, customer reviews are positive, with most complaints relating to contacting a lender or being matched with lenders but not finding what they need.
Monevo: Is It Legit?
- Your credit won’t be affected. The lender will eventually run a credit check on you, temporarily lowering your credit score. When you use Monevo to connect with lenders, your credit score will not be affected.
- Your submitted personal information is received by their partner lender, which is not a problem. It may be a good idea to apply directly to the lender of your choice if this is the case.
- Personal loans are offered on their website, but the company does not fund loans. Using it, you can find and compare lenders and find one that is right for your needs.
- Your funds will be received within a few days. Sometimes it can take as few as one business day, depending on the lender. As soon as your application is approved, you will see money in your account within seven days.
- Your lender will provide you with a repayment schedule, along with any additional fees.
- When you have questions, don’t hesitate to contact your lender.
- The company is based in the United Kingdom and has significant tech partners worldwide.