Without a proven track record of success, we simply wouldn't be in business. In fact, National Debt Relief only enrolls clients who have a strong chance of benefiting from our debt settlement program. We predicate our reputation on our ability to help consumers move past their debts and begin rebuilding their financial lives - not on our ability to enroll as many clients as possible or charge unnecessary fees.
The lenders who partner with NerdWallet follow accepted industry standards for installment lending, with interest rates no higher than 36% (widely considered the upper limit of affordability) and consideration of your credit history and ability to repay. NerdWallet has reviewed their application processes and verified their underwriting guidelines.
Lender preapprovals can help you identify the best loan offering, comparing rates and terms from lenders who are willing to extend you credit. But 59 percent of respondents didn’t get a preapproval from more than one lender, and of those, 37 percent didn’t get any preapprovals at all. Just over 40 percent of respondents got preapprovals from more than one lender, including 18 percent who obtained preapprovals from more than four lenders.
In some cases, it might be difficult to determine what to include as far as supporting documentation goes — that’s another way a credit repair company can help you. For example, if you’re a victim of identity theft and a fraudulent account is appearing on your credit report, it can be tough to prove it isn’t yours since you naturally don’t have any documents relating to the account.
When you use a debt consolidation loan to pay off your credit card balances, it should also help you with credit utilization on your credit accounts. Credit utilization is the amount of credit borrowed against a particular credit account. Since credit utilization accounts for approximately 30% of your overall credit score, this is a very important factor when it comes to how good or bad your credit is.
Qualified clients using Rocket Loans will see loan options for a 36 or 60 month term, and APR ranges from a minimum of 5.983% (rate with autopay discount) to a maximum of 29.99% (rate without autopay discount) depending upon their credit profile. An origination fee of 1% - 6% is charged for each loan. This fee is deducted from the balance before funds are disbursed to the client. For example, a 3 year $10,000 loan with an 8% interest rate and a 4% ($400) origination fee would have 36 scheduled monthly payments of $313.36 for an APR of 10.796% (rates assume autopay discount). Borrower must be a U.S. citizen or permanent U.S. resident alien at least 18 years of age (in Nebraska and Alabama a borrower must be at least 19 years of age). All loan applications are subject to credit review and approval and offered loan terms depend upon credit score, requested amount, requested loan term, credit usage, credit history and other factors. Not all borrowers receive the lowest interest rate. To qualify for the lowest rate, you must have excellent credit, meet certain conditions, and select autopay. Rates and Terms are subject to change at any time without notice.
You can choose between a fixed- or variable-rate loan with SoFi. There are no origination fees or prepayment penalties. SoFi offers loans of up to $100,000 with loan periods of up to seven years, which is one of the highest amounts and longest loan periods available for a debt consolidation loan. Unemployment protection is available to qualifying members. If you lose your job involuntarily, you will be allowed to temporarily pause payments in three-month increments for up to 12 months over the life of the loan if you work with the SoFi career team to look for new employment.