In this review, we compare Pacific Debt Relief vs Lendvia to help you decide which company is best for you, whether you are looking for a personal loan or resolving your debts. Keep reading to learn more about the similarities and differences between the two companies.
Pacific Debt Relief Review: Customers Ranked them #1 In Debt Consolidation
Do you have a high level of debt? Are you having difficulty making your monthly payments? Debt consolidation may be an option for you if you are seeking financial relief. It is important to make sure that the debt consolidation company you choose is legitimate and will not scam you before deciding on them. To help you decide whether Pacific Debt Relief is the right debt relief option for you, we will examine the company’s history, services, and fees.
This debt settlement company offers a range of debt consolidation services, including credit card consolidation, medical billing consolidation, personal loan consolidation, and student loan consolidation. You will be able to work with a team of debt counselors who will help you develop a debt consolidation plan that meets your financial needs. They will contact your creditors as soon as you enroll in their program to negotiate lower interest rates and monthly payments. If you are having difficulty making your payments, we will assist you in finding a solution.
Many things differentiate Pacific Debt from other debt consolidation companies, but its experience is undoubtedly one of the most important factors. Pacific Debt has over 20 years of experience in helping people overcome debt and thousands of happy customers.
Those who are in debt may find Pacific Debt Relief to be an attractive option due to some of its features. First of all, there are no hidden fees or upfront costs. Additionally, they charge a one-time setup fee of $49 and a monthly fee of $39, which include access to their online portal, customer support, and debt counseling services.
Is Pacific Debt Relief’s service fraudulent? This company does not operate as a scam. They are a legitimate debt consolidation company that has helped people reduce their unsecured debts for many years. If you are looking for debt relief, Pacific Debt Relief is an excellent choice.
- No upfront fees are charged for consultations
- Up to 35% could be saved on fees
- Online account management makes it easy to stay on top of your account
- There is a tendency for the staff to rush you into making a decision and be pushy
- Savings can be reduced by as much as 15% for some consumers due to fees
- You must live in a state where Pacific Debt operates to qualify for its debt relief program.
Pacific Debt Relief: What Is It?
Debt relief involves reducing or eliminating debt. To accomplish this, a variety of methods may be used, such as negotiation, settlement, or bankruptcy. The firm has helped over 30,000 clients settle and resolve over $1 billion in outstanding debt since 2002. They provide debt relief services to thousands of satisfied customers.
This debt settlement company is an excellent choice for consumers who have difficulty making minimum payments and want to reduce their monthly payments.
Debt relief may be needed for a variety of reasons. You may have lost your job and cannot pay your bills. You may be unable to work due to a medical emergency. No matter what the reason is, they can help.
They will tailor a solution that meets your needs and budget. Their success rate is 85%, so you can be certain that they will do everything in their power to assist you.
How Does This Company Work?
To help people get out of credit card debt, Pacific Debt Relief provides debt consolidation loans. The company negotiates with creditors to lower its customers’ monthly payments and interest rates. In addition, the organization provides financial education to help people manage their money more effectively and avoid becoming indebted in the future.
If you consolidate your credit card debt and unsecured loans, you can save on interest. Thousands of people have been helped by their debt relief services, and their success rate is high.
Pacific Debt Relief Summary
- Affiliated with the American Fair Credit Council, the Better Business Bureau, Consumer Affairs, and the International Association of Professional Debt Arbitrators
- Online or phone consultations are free
- There is a 15% to 25% cost associated with enrolling in the program. Different states charge different fees.
- Contact by Phone or email
- A wide range of unsecured debt will be accepted, except for consumer finance loans, payday loans, legal judgments, and medical debt not already in collections. It is typically considered acceptable to have a debt of at least $10,000
- Debt management blog offering useful information for free
- Pacific Debt services are only available in 25 states
- Debt settlement by direct negotiation
- Better Business Bureau rating of A+ and Trustpilot rating of 9.3
- The turnaround time is between 24 and 48 months
What Type Of Loans Does It Offer?
To achieve your debt goals, you can consolidate your debt and invest in home equity through Pacificdebt.com. With their variety of loan options, you can customize a debt relief solution that meets your unique needs.
Debt can be a difficult thing to manage on your own. You may feel like you are stuck with high-interest rates and monthly payments. However, there is hope. A debt settlement company like ours can help you by negotiating lower interest rates and monthly payments with your creditors. This will help you save money every month and get out of debt more quickly.
Home equity loans can be secured by the equity in your home. This type of loan may allow you to pay off your debt and start over. Home equity loans usually have lower interest rates than credit cards and personal loans, so you can save money on interest.
They may be able to help you find a debt relief solution that fits your needs, regardless of your financial situation.
How To Qualify For Pacific Debt Relief?
The debt relief companies may be able to assist those struggling with debt in regaining control. To obtain such a loan, what are the requirements? Here is information about how Pacific Debt Relief may be able to assist you.
The minimum amount of debt you can consolidate through Pacific Debt Relief is $10,000 and the maximum amount is $100,000. It will also be necessary for you to have a good credit score and a steady income
There is a possibility that you may be eligible for a debt relief loan from Pacific Debt Relief if you meet these criteria. In comparison to other debt relief companies, it is a simple process that helps you obtain debt relief much faster.
How To Sign Up With Pacific Debt Relief?
To enroll, you will speak with a certified debt specialist who will discuss your financial situation and help you determine whether debt settlement is an appropriate option.
To schedule a free consultation with Pacific Debt, follow these steps:
- Check out Pacific Debt Inc.’s website
- Click Free Consultation to get a free debt consultation
- Select your debt amount and click See Savings
- If you are behind in your payments, you can choose the amount of time you are behind
- Choose your state of residence
- Once all contact information has been entered, click Submit
How Much Does It Cost To Use This Company?
It will depend on the amount of debt you have and the type of repayment plan you are considering. In general, their fees range from 15-25% of the enrolled debt, so if you have $10,000 in debt, you can expect to pay between $1,500 and 2,500 over the life of the loan.
Payment amounts are only estimates – your debt consolidation loan terms will determine your actual payments. There is no charge for using their services. If you want debt settlement services without any hidden fees or surprises, Pacific Debt may be the best option for you.
Pacific Debt Relief: What Could You Save With It?
If you are seeking to reduce your debt, Pacific Debt Relief may be able to assist you. It is possible to save a significant amount of money with an average savings of 50%. It should be noted, however, that this is before any fees are applied.
There are no additional fees, and average savings range from 15% to 35%. Saving money may not be possible through Pacific Debt Relief. Working with Pacific Debt Relief could be a good choice if you’re willing to trade some potential savings for convenience.
Minimum Credit Score For A Pacific Debt Relief Loan
To qualify for a Pacific Debt Relief loan, you must have a credit score of 660 or higher. If your score is lower than this, you may still be able to work with them. In addition to offering low-interest rates, they also provide flexible repayment terms for their customers. You may face higher interest rates if your credit score is lower than expected.
How Long Does It Take For The Pacific Debt Relief Program To Begin Resolving Your Debt?
Under Pacific Debt Relief, its program is designed to help you restructure your debt as quickly as possible. After enrolling in the program, your creditors will work with you to negotiate a debt consolidation loan that will enable you to repay your debts in full.
Most of the time, they can settle our clients’ debts within 12 to 36 months. During this time, you will work with them to craft a budget and payment plan that fits your financial needs. If you are having difficulty paying your credit card debt, the company may be able to negotiate a lower interest rate or monthly payment amount with your creditor.
How Do They Affect Your Credit?
Debt relief can adversely affect your credit score, there is no doubt about that. Pacific Debt Relief may have an indirect impact on your credit, but you may not be aware of it.
If you enroll in a debt relief program, Pacific Debt Relief will negotiate with your creditors on your behalf to reduce your monthly payments and/or interest rates. This process is known as debt settlement.
Your creditors will receive regular payments each month from you if you accept their debt settlement offers. These payments will be held until we have sufficient funds to pay your debt.
Once your debt has been paid off, it will be reported to the credit bureaus as “settled.”. Your credit score will be negatively affected. Even so, debt settlements are still better for your credit than bankruptcy.
How To Use The Pacific Debt Relief Website?
Pacific Debt Relief’s website is a great resource for those seeking debt relief. To maximize its potential, you can use it in the following ways.
Calculate your savings by using the “Calculate Your Savings” tool. When you work with Pacific Debt Relief, you will be able to see how much money you can save.
Review the “Success Stories” section next. This is a great opportunity to see how Pacific Debt Relief has helped real people.
Finally, review the “Frequently Asked Questions” section. Find out everything you need to know about debt settlement, and how Pacific Debt Relief can help.
Follow these simple steps to get debt relief.
When considering Pacific Debt Relief to help you with your debt, you may be concerned about their BBB rating. The BBB’s rating of Pacific Debt Relief and the company’s complaint history are provided below.
There have been three closed complaints against Better Business Bureau-accredited Pacific Debt Relief in the last three years and one closed complaint in the last 12 months. Even though this record isn’t perfect, it does illustrate that Pacific Debt Relief usually responds to complaints.
If you are considering using Pacific Debt Relief to help reorganize your finances, you may want to check out their BBB rating. You can learn more about the company by reading its complaints history.
Here are some Pacific Debt Relief BBB reviews:
Brian D 07/22/2022
Pacific Debt Relief: Is It Legit?
This is a question that many people are asking themselves. Many people wonder if this company is legit and if it settles millions of dollars in consumer debt.
Thousands of people have recovered from debt with Pacific Debt Relief, a legitimate debt relief company. Having been in business for over 20 years, the company has an A+ rating from the Better Business Bureau.
Only half of the states are served, which is a serious disadvantage. Furthermore, you may not receive the most competitive price. You may be able to save money if you find a company with a lower interest rate or fees.
Many companies claim they can assist you in getting out of debt, but not all of them are legitimate. Pacific Debt Relief helps people improve their financial situation by helping them get out of debt. If you are serious about getting out of debt, Pacific Debt Relief is a great option.
Lendvia Review: Is It A Scam Or Legit?
This company, referred to as Lendvia Financial, provides loans to people who have bad credit histories. There is nothing scammy about them, and they are a genuine company. Although they are a member of the Better Business Bureau (BBB) and the American Fair Credit Council (AFCC), they do not have a file with the Better Business Bureau.
In addition to helping you consolidate your debt, Lendvia Financial may also be able to assist you in obtaining an installment loan from one of its lending partners. More information about their services can be found on their website, LendviaFinancial.com.
Borrowers in Sherman Oaks, California, are matched with lenders based on their financial needs.
Essential Aspects Of Lendvia
This company attracts customers through pre-selected mail offers to attract them to the company. You may have received a letter in the mail from a company offering to help you consolidate your debt
The offer intrigued us, so we investigated further. Our findings are as follows:
- Lending Partners offers interest rates between 4.99% and 34.99%.
- Loan amounts range from $5,000 to $100,000.
- While the company can help you find the right lender for your situation, approval is not guaranteed.
- One to five years will be the repayment term.
- To collect your information, the company works with partners and third-party providers. When you apply for a loan, they share your information with their network of lenders.
Lendvia: What Is It?
Through Lendvia, consumers can connect with lenders who originate debt consolidation loans. In addition to helping borrowers select loan options and work with a Loan Coach, they are not lenders themselves. You can lower your monthly payment by paying off your credit cards with your financial plan.
The company has been operating since 2019. According to its website, it is located at 15303 Ventura Blvd. You can reach the company at [email protected] or by calling 888-699-3080.
According to Lendvia, it helps its customers get out of debt faster and save more money.
At the moment, Lendvia does not have a BBB file or a Trustpilot page where customers can read customer reviews.
How Does This Company Work?
Using Lendvia, you can get an unsecured installment loan. Here’s how Lendvia works:
Application Process With A “Loan Coach”
Their Loan Coaches are available to assist you with the application process for free and without obligation. Several elements must be provided, including your personal information, your debt level, your credit score, and whether you have fallen behind on your payments.
In providing your information, you consent to Lendvia Financial and its affiliates contacting you via phone, text message, or email from any address you provide. This category includes dialing systems, prerecorded voice messages, and automatic dialing devices.
Choosing A Lender
After you complete the application process, Lendvia’s lending partners will receive your information.
Reviewing Your Loan Terms
Review your terms, verify your information, and read the fine print carefully before you sign any papers or begin the loan application process.
Neither Lendvia nor the Better Business Bureau (BBB) is a member of the American Fair Credit Council (AFCC).
In addition to Google, Trustpilot, and Yelp, Lendvia does not have any reviews.
How Much Do They Charge?
Lendvia does not explicitly state the fees that they charge for their services, so it is difficult to determine what they are.
This loan is subject to an origination fee. The fee will be deducted from the loan amount at the beginning and is a small percentage of the loan amount. Your loan will be covered for all costs associated with creating, managing, and servicing it. Other fees, such as application fees, prepayment penalties, or annual fees, are not included. Before accepting any offer, you will receive a detailed description of the terms and any fees.
Interest Rates And Terms
Lendvia has simplified and fixed its terms and conditions. You can choose a repayment plan that meets your needs and budget with a low monthly payment ranging from 4.99% APR to 34.99% APR.
Customers can choose between a loan amount of $5,000 and $100,000 and a term length of 1 to 5 years with Lendvia.
How Much You Can Save With This Company
Depending on your debt level, debt consolidation can lower your monthly payment and save you money on interest payments. You could save thousands of dollars if you have a lot of debt. It is still possible to save money by consolidating debt even if you have less debt. Finance charges may also be reduced.
Lendvia: Qualification And Approval Factors
There is a right to know exactly what factors are considered when making a lending decision.
- There is no cost or obligation to speak with a loan coach. To complete the application, you can work with your Loan Coach.
- Select the offer that meets your needs. As your Loan Coach helps you understand your options, you will be able to make an informed decision.
- Make sure your information is accurate.
Credit Utilization Ratio
Credit utilization ratios play an important role in determining your credit score. The ratio is calculated by dividing the total outstanding balances by the maximum credit limit. You would have a credit utilization ratio of 37.5% if you had two credit cards with $1,000 limits and owed $500 on one and $250 on the other.
It is important for credit reporting agencies to evaluate your credit utilization ratio when evaluating your financial history. You are good at managing your finances and keeping your balance in check if you have a low credit utilization ratio. In contrast, a high ratio may indicate difficulty repaying your debts.
To maintain financial stability, it is important to keep your DTI low. The debt-to-income ratio measures the amount of debt you owe each month compared to your income. If your DTI is high, it suggests that you may be having difficulty meeting other financial obligations as well as making ends meet. To stay on top of your debts, you should also have room in your budget for other expenses.
To get approved, you need a reliable source of income. Before applying, it is ideal if you have been continuously employed for at least one to two years.
Credit scores are taken into account by lenders when you apply for a loan. You are more likely to receive better rates and terms if your FICO score is higher.
Other Application Requirements
It may be necessary for you to provide a few items. These include:
- Your passport, driver’s license, or state-issued identification card, along with a color photo.
- To prove your income, you must provide two recent pay stubs. If you are self-employed, you must provide your most recent 1040 tax documents.
- Statements from the past few months of your bank account.
Does Lendvia Affect Your Credit Score?
The lenders in Lendvia’s network check consumer credit with TransUnion, Experian, and Equifax.
When you apply for a loan through Lendvia, your credit score will not be affected. The hard pull on your credit report may affect your FICO score if you select a particular lender.
How Do They Handle My Personal Information?
By utilizing its network of lenders, Lendvia matches you with a lender who can meet your specific financial needs. It is the customer’s responsibility to consent to lenders sharing their personal and contact information.
Thus, different companies in their network may call, email, or text you. At any time, you can opt out.
What Happens With Your Credit Cards?
To qualify for any of Lendvia Financial’s offers, you will need to close some credit cards. You can choose which debts to pay off and close, as well as which cards you still need to pay every month.
Is Lendvia Legit?
Having researched and analyzed Lendviafinancial.com’s online presence, we believe it is a legitimate company. In the absence of reviews or accreditations attesting to the company’s business practices, it is difficult to get a comprehensive picture of the company.
It is recommended that you read customer reviews and do your research before making a purchase. By taking this approach, you will be able to make the best decision for your situation.