This review compares Pacific Debt Relief vs Lendvia so you can determine which company is best for you, whether you’re searching for a personal loan or want to get rid of some debt. Continue reading to find out more about the companies’ significant differences and key commonalities.
Pacific Debt Relief Review: Why It Is Among The Top Debt Consolidation Companies
Are you heavily indebted? Do you find it difficult to pay your bills on time each month? You might be thinking about debt consolidation as a method of debt relief. But, you must confirm that the debt consolidation organization you chose is reliable and won’t defraud you before making your decision. In order to help you decide if Pacific Debt Relief is the best debt relief solution for you, we will examine the company’s background, offerings, and costs in this review.
The debt settlement organization offers a variety of debt consolidation services, including the consolidation of credit cards, medical bills, personal loans, student loans, and more. They have a group of debt counselors who will collaborate with you to create a debt relief strategy that satisfies your financial requirements. They will get in touch with your creditors as soon as you enlist in their program to bargain reduced interest rates and monthly payments. In the event that you are having trouble making your payments, they will help you find a solution.
While pacificdebt.com differs from other debt consolidation businesses in a number of ways, experience is undoubtedly one of the most crucial ones. With thousands of satisfied clients and more than 20 years in business, Pacific Debt has a track record of assisting clients in eliminating their debt.
There are various aspects of Pacific Debt Relief that make it a desirable choice for people who are in debt. First, there are no upfront costs or additional fees. They charge a $49 startup cost up front, followed by a $39 monthly subscription, which covers use of their web portal, customer care, and debt counseling services.
Are the services provided by Pacific Debt Relief false? This business is not engaging in any fraud. They are a reputable debt consolidation organization with many years of experience assisting clients in lowering their unsecured debt. If you need debt relief, Pacific Debt Relief is a fantastic choice.
- There are no up-front fees and the consultation is free.
- You might save up to 35% on fees.
- Online account management is simple.
- The personnel is overbearing and frequently rushes you to make a choice.
- For certain individuals, fees might cut savings by as much as 15%.
- You must reside in a state where Pacific Debt does business in order to be qualified for the company’s relief program.
Pacific Debt Relief: What Is It?
Reducing or eradicating debt is a debt relief act. This can be done in a number of ways, including through negotiation, settlement, or bankruptcy. Since 2002, the company has assisted over 30,000 clients in settling and resolving over $1 billion in outstanding debt. They are a top supplier of debt relief services with thousands of delighted clients.
Use this debt settlement business if you struggle to make minimum payments and are worried about increasing your monthly payments.
There are numerous causes for someone to require debt relief. You might not be able to pay your payments because you lost your job. You could not be able to work because of a medical emergency. Any reason can be addressed, and they can assist.
They will customize a solution for you based on your needs and financial situation. You may be confident that they’ll do everything in their power to assist you because they have an 85% success record.
How Does This Company Work?
Loans for debt consolidation are offered by Pacific Debt Relief to help people get out of credit card debt. The business negotiates with creditors to reduce monthly payments and interest rates for their consumers. The company also offers financial education to assist consumers in better money management and prevent future debt.
By combining your credit card debt and unsecured loans into one manageable monthly payment, you can reduce your interest costs. They have a great success record and have assisted thousands of people in eliminating their debt.
- Affiliated organizations include the International Association of Professional Debt Arbitrators, Consumer Affairs, the Better Business Bureau, and the American Fair Credit Council.
- Phone or online consultations are available for customers.
- 15% to 25% of the total debt enrolled is the price. States levies fees differently.
- Contact by phone or email
- Any unsecured debt, with the exception of loans for consumer goods, payday loans, court judgements, and unpaid medical bills, will be accepted. Typically, a minimum debt of $10,000 is considered.
- Free tools are available, including a debt management blog with helpful content.
- Only 25 states offer Pacific Debt services
- They offer direct negotiation for debt settlement
- Trust ratings: 9.3 on Trustpilot and an A+ rating from the Better Business Bureau.
- 24 to 48 months is the turnaround time.
What Type Of Loans Does Pacific Debt Relief Offer?
You can invest in home equity and consolidate debt with Pacificdebt.com to achieve your debt reduction objectives. They offer a wide range of loan choices, allowing you to tailor a debt relief strategy to your particular need.
If you require a debt settlement business, Pacific Debt Relief can assist. The business bargains on your behalf with a network of creditors to obtain cheaper interest rates and regular payments. As a result, you will be able to save money each month, allowing you to pay off your debt more rapidly.
You might be able to utilize the equity you have in your house as security for a home equity loan. You might be able to get the money you need from a loan of this kind to pay off your debt and start over. You can save on interest payments because home equity loans often have lower interest rates than credit cards or personal loans.
Pacific Debt Relief could be able to assist you in finding a debt relief option that meets your needs, regardless of your financial condition.
How To Qualify For Pacific Debt Relief?
Individuals who are having financial difficulties may turn to debt relief organizations for help getting back on track. What conditions must be met in order to be eligible for such a loan? Here are some details on how Pacific Debt Relief might be able to help you.
For you to be eligible for a debt consolidation loan with Pacific Debt Relief, your total debt must be at least $10,000 and no more than $100,000. Also, you’ll need to have a stable salary and strong credit.
If you fit these criteria, you can be qualified for a loan from Pacific Debt Relief for debt relief. It is a straightforward procedure that aids in your debt relief quicker than other debt consolidation firms.
How To Sign Up With Pacific Debt Relief
A trained debt professional will assess your financial position and help you decide whether debt settlement is the best course of action before you join.
Here’s how to arrange a no-cost consultation with Pacific Debt:
- Visit the Pacific Debt Inc. website
- Get a free debt consultation by clicking Free Consultation
- After selecting the debt amount, click See Savings.
- You can choose how far behind on your payments you are.
- Choose your state of residence
- After entering all necessary contact information, click Submit.
How Much Does Pacific Debt Relief Cost?
Your debt level and the type of repayment strategy you are contemplating will determine how much you owe. You should anticipate paying us $1,500 to $2,500 over the course of the loan if you have $10,000 in debt because their costs are normally 15–25% of the enrolled debt.
The estimated monthly payment is simply an estimate; your real payment will depend on the parameters of your debt consolidation loan. These services can be used without cost. Hence, if you’re seeking for debt settlement services without any surprises or hidden costs, Pacific Debt can be your best alternative.
What Could You Save With It?
Pacific Debt Relief can be an excellent choice for you if you’re trying to cut costs on your debt. You can save a sizable sum of money with an average savings of 50%. However keep in mind, this is before any fees are charged.
When fees are taken into account, savings range from 15% to 35% on average. Pacific Debt Relief might not be the ideal choice for saving money as a result. If you’re ready to give up some potential savings for the ease of dealing with a reliable firm, Pacific Debt Relief might be a wise decision.
Pacific Debt Relief Loan: Minimum Credit Score
Pacific Debt Relief loans require credit ratings of 660 or better. If your score is less than this, you might still be able to cooperate with them. They give flexible payback arrangements in addition to low interest rates. You might have to pay higher interest rates if your credit score is worse than you anticipated.
Pacific Debt Relief Program: How Long Does It Take To Begin Resolving Your Debt?
Pacific Debt Relief claims that its program is made to assist you in reorganizing your debt as soon as feasible. Once you’ve signed up for the program, you’ll get help negotiating a debt consolidation loan with your creditors so you can pay off all of your debt.
They may usually settle our clients’ debts in 12 to 36 months. At this period, you will be working with them to develop a budget and payment plan that suit your particular financial condition. If you are having trouble making your credit card debt payments, the organization might be able to work out a lower interest rate or monthly payment amount with your creditor.
How Does This Company Affect Your Credit?
Relief from debt might definitely lower your credit score. You might not be aware of an indirect effect Pacific Debt Relief may have on your credit.
When you sign up for a debt relief program, Pacific Debt Relief will speak with your creditors on your behalf to reduce your interest rates and/or monthly payments. The phrase “debt settlement” is used to characterize this procedure.
You will make monthly payments to them rather than directly to your creditors each month if your creditors accept their debt settlement offers. They will keep onto these payments until we have enough money to satisfy your debt.
Once you have paid off your loan, credit reporting agencies will list it as “settled.” Your credit score will be negatively impacted by it. Despite this, bankruptcy still hurts your credit more than debt settlements do.
How To Use The Pacific Debt Relief Website
The website of Pacific Debt Relief is a fantastic resource if you’re seeking for debt relief. To make the most of it, use it in the methods listed below.
Utilize the “Calculate Your Savings” feature to get started. By working with Pacific Debt Relief, you can see how much cash you could save.
Review the “Success Stories” section after that. It is a fantastic chance to view actual cases where Pacific Debt Relief has aided people.
Lastly, go through the section titled “Frequently Asked Questions.” Here, you may learn everything you need to know about the debt settlement business and how Pacific Debt Relief can support you.
When you adhere to these straightforward guidelines, getting debt relief is easy.
Pacific Debt Relief Reviews
If you are thinking about using Pacific Debt Relief to help you with your debt, you might be worried about their BBB rating. We have details on Pacific Debt Relief’s BBB rating and their history of complaints.
In the last three years, Better Business Bureau accredited Pacific Debt Relief has had three complaints closed and 1 complaint closed in the last 12 months. This record doesn’t show that Pacific Debt Relief always responds to complaints, but it does show that they generally do.
If you’re thinking about employing Pacific Debt Relief’s services to help you organize your finances, you may look at their BBB rating. Read the company’s history of complaints to learn more about it.
Here are some reviews:
Brian D 07/22/2022
Pacific Debt Relief: Is It Legit?
This is a question that many people are asking themselves. Many are unsure of the legitimacy of this business and whether it pays out millions of dollars in consumer debt each month.
A reputable debt relief business that has assisted thousands of people in getting out of debt is Pacific Debt Relief. The business has been operating for more than 20 years and has an A+ rating with the Better Business Bureau.
They barely cover half of the states in the nation, which is a significant flaw. Moreover, you might not get the most affordable price. You may be able to save money if you can locate a business with a lower interest rate or costs.
Many businesses make the assertion that they can aid with debt relief, but not all of them are reliable. A business dedicated to assisting people in reducing their debt and bettering their financial status is called Pacific Debt Relief. Anyone who is serious about getting out of debt should consider Pacific Debt Relief as a fantastic option.
Lendvia Review: Is It Legit Or A Scam?
Lendvia Financial is a company that provides loans to people with bad credit. They are not a scam, and they are legitimate. Yet, neither the American Fair Credit Council (AFCC) nor the Better Business Bureau (BBB) have a record of them.
You can combine your debt and obtain an installment loan from one of its lending partners with the aid of Lendvia Finance, a loan matching business. LendviaFinancial.com, their website, gives more details on their offerings.
In Sherman Oaks, California, based on the borrower’s financial requirements, they pair borrowers and lenders.
This business draws customers in with pre-selected postal offerings. You could have received a letter in the mail from someone offering to assist you with debt consolidation.
We were fascinated by the offer, so we made the decision to look into it more. Here’s what we discovered:
- Lending Partners offers loan rates ranging from 4.99% APR to 34.99% APR.
- Loan amounts might be anywhere between $5,000 and $100,000.
- Although approval cannot be guaranteed, the company can assist you in selecting the best lender for your needs.
- The length of the repayment period will be between one and five years.
- Your information is gathered by the business in collaboration with partners and outside service providers. When you apply for a loan, your information is shared to their network of lenders.
Lendvia: What Is It?
With the help of the innovative loan matching tool Lendvia, customers can get in touch with lenders who provide debt consolidation loans. Although they are not lenders themselves, they can assist borrowers in selecting the appropriate loan option and collaborating with a Loan Coach to get the greatest outcomes. You can pay off credit cards with a cheaper monthly payment thanks to their financial strategy.
It has been in operation since 2019 and, according to its website, is situated at 15303 Ventura Boulevard. Contact the business at [email protected] or 888-699-3080.
Lendvia promotes itself as a lending organization that enables its clients to save and pay off debt more quickly.
Customers cannot browse customer reviews on Lendvia’s Trustpilot or BBB pages at this time.
How Does This Company Work?
Unsecured installment loans are offered by Lendvia. Lendvia operates as follows:
1. A “Loan Coach” Can Help You Through The Application Process
You can speak with one of their Loan Coaches for free and without commitment if you need help with the application process. You must provide your personal information, as well as details about your debt, credit score, and payment history.
By providing your contact information, you give Lendvia Finance and its affiliates permission to call, text, or email you from any address you indicate, either now or in the future. This category includes automatic dialing devices, prerecorded audio messages, and dialing systems.
2. Selecting A Lender
After you submit your application, Lendvia’s lending partners will receive your information.
3. Taking A Closer Look At Your Loan Terms
Review your conditions, confirm the accuracy of your information, and carefully read the small print before signing any paperwork or starting the loan procedure.
Lendvia is not registered with the Better Business Bureau (BBB) or the American Fair Credit Council (AFCC).
There are no reviews of Lendvia on Google, Trustpilot, or Yelp.
How Much Does It Charge?
As far as the charges for their services are concerned, Lendvia does not explicitly state them.
There is an origination fee associated with this loan.. The initial loan amount will be reduced by this fee, which represents a small portion of the overall loan amount. It pays for all expenses related to making, running, and servicing your loan. There are no additional unstated costs, such as annual fees, prepayment penalties, or application fees. Before you accept any offer, all conditions and any fees will be made clear to you.
Interest Rates And Terms You Can Expect
Lendvia’s terms and conditions are standardized and straightforward. You can pick a repayment strategy that fits your needs and budget with a lower monthly payment because rates range from 4.99% APR to 34.99% APR.
Customers using Lendvia can select a loan size of $5,000 to $100,000 and a term duration of 1 to 5 years.
How Much Money You Can Save
Depending on how much debt you have, debt consolidation may be able to cut your monthly payment and save you money on interest. You might save thousands of dollars if you have a lot of debt. Consolidating debt can save money even if you have less debt. Also, you might pay fewer loan fees.
Approval And Qualification Factors
You deserve to know exactly what goes into a lending decision.
1 -TALK TO A LOAN COACH There is no charge and no commitment. The application can be finished in collaboration with your Loan Coach.
2- CHOOSE YOUR TERMS Select the offer that best suits your needs. With the aid of your Loan Coach, you will be able to comprehend your possibilities.
3 -MAKE SURE YOUR INFORMATION IS ACCURATE.
The Credit Utilization Ratio
Your credit score is heavily influenced by your credit utlization ratio. By dividing your total outstanding balances by your credit limits, you can determine the ratio. Your credit utilization ratio would be 37.5%, for instance, if you had two credit cards with $1,000 each and owed $500 on one and $250 on the other.
Credit reporting companies give careful consideration to your credit utilization ratio when assessing your financial history because it shows how well you handle your money. You are skilled at managing your money and keeping your balance in check if your credit utilization percentage is low. A high ratio, though, suggests that you might struggle to make your debt payments.
The Debt-To-Income Ratio
A crucial element in preserving financial stability is your DTI. Your monthly debts to monthly income are compared using this ratio. A high DTI indicates that you might be struggling to make ends meet and might be having trouble paying other debts. Maintaining control over your debts is crucial, as is leaving money in your budget for other costs.
Verified Income History
To be accepted, you must have a consistent revenue source that can be verified. It is best if you applied after working constantly for at least one to two years.
Lenders take your credit score into account when you apply for a loan. With a higher FICO score, you have a better chance of getting deals on rates and conditions.
Other Requirements That Can Be Required Throughout The Application
There may be a few things you need to supply. Some of them are:
- A passport, driver’s license, or other government-issued picture ID with a photo or color copy is an acceptable form of identity.
- You must provide the two most recent pay stubs to demonstrate your income. If you are self-employed, your most recent 1040 tax paperwork are required.
- The last few months’ worth of bank statements.
Does This Company Affect Your Credit Score?
Credit checks are carried out by lenders in Lendvia’s network with TransUnion, Experian, and Equifax as well as other consumer data sources.
You won’t have any impact on your credit score if you use Lendvia to apply for a loan. In any case, if you select a specific lender, a hard draw on your credit report could have an impact on your FICO score.
How Does It Handle Your Personal Information?
Lendvia connects you with a lender who can suit your particular financial needs through its network of lenders. Consumers must give their permission for lenders to share their contact and personal information.
As a result, you can get calls, emails, or texts from various businesses connected to their network. You have the choice to opt out at any time.
What Happens With Your Credit Cards?
To be eligible for any of Lendvia Financial’s offerings, you will need to close a few of your credit cards. You get to decide which debts you want to settle and close, as well as which cards you could still owe daily payments on.
Lendvia: Is It Legit?
We have determined that Lendviafinancial.com is a legitimate business after conducting research and analyzing its online presence. Due to the lack of evaluations or accreditations attesting to the company’s business procedures, it is challenging to get a clear image of the organization.
Before making a purchase, we advise reading customer reviews and conducting additional research. Using this method will assist you in making the decision that is best for your circumstances.