TriPoint Lending Services offers personal loan and debt relief services to individuals. It is best for those who are struggling with debt issues. They also provide business loans to small businesses or start-ups to meet their financial needs.
Many people are taking advantage of personal loans. Although, this platform has its own pros and cons. For a better point of view, continue reading Tripoint Lending review and how it is going to help the small businesses in future.
TriPoint Lending Reviews
Tripoint is a company that is popularly known for offering personal loans to the people in need. It has an easy and streamlined application process for its users that allows them to make a quick decision. TriPoint makes the borrowing affordable and convenient by advertising its interest rates and flexible repayment.
The company was founded back in 2017, based in Irvine, California. It offers personal loans of up to $35,000 with interest ranging from 12% to 36%. With A+ rating of BBB (Better Business Bureau) and is also accredited by BBB. It is also a member of an Online Lenders Alliance (OLA).
The customers receive a personalized reservation code that offers a pre-approved loan with a below 5% interest rate to consolidate your credit card and other high-interest debt.
Although, the company has been facing negative reviews from the customers. As they are claiming the company as a scam. Customers have said that they were promised a loan but never received the money. Some claimed that they were charged hidden fees or higher interest rates than the originally quoted.
Services offered by TriPoint Lending
Personal Loans
The customers can borrow personal loans who are in a hurry to get quick access to funds for multiple reasons like debt consolidation, home improvement, or emergency expenses. The easy and online application process has made this platform a favourite for everyone. They advertise the flexible loan amounts and repayment terms to fit each borrower’s unique financial situations. With competitive and fixed interest rates, they also offer customer service and support. TriPoint Lending shows similarities with Beneficial Funding, and Alliance One Funding in terms of approach and offerings.
Debt Consolidation Loan
Debt consolidation Loan from TriPoint offers help to those who consolidate their high-interest debts for instance credit card balances in one manageable monthly payment. This way, individuals can simplify their finances and minimize overall interest rates, potentially saving money over time. Here, the consolidation loan comes from fixed interest rates and repayment terms. It makes the payments and debt payment easier for borrowers. The application process is online and quick, so that borrowers can conveniently apply and receive their funds.
Debt Settlement
TriPoint Lending offers debt settlement services for their customers to settle their outstanding debts with lending institutions and creditors. There are many consumers connected with the company who negotiate the settlement agreement along with their creditors. This procedure involves the reduction of the total amount owned, minimize the interest rates and create a payment plan that is more manageable for the customers. Along with this, TriPoint Lending offers financial education and resources to give them a better understanding of finance management and how they can avoid any future debt problems. The major goal of this platform is to make everyone free from any kind of debt and achieve financial stability.
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How much does TriPoint Lending cost?
The company claims the annual percentage rates are from 5.49% APR to 30.00% APR for the customers who are borrowing for the first time. Monthly payments vary on the basis of this range.
Is TriPoint Lending A Scam?
Is this company really a scam? Well, as per the reviews from its customers it might sound like a scam, but it is not. TriPoint is a legitimate finance lender who offers personal loans at competitive rates.
However, most of its customers complain about the additional fees and customer services, which looks more like an isolated incident than a widespread problem with the company as a whole.
So, if any person is considering borrowing a loan from TriPoint Lending, then go through all the terms and conditions of the company before signing any agreements or submitting any asked fees.
Pros of TriPoint Lending
- They have a streamlined application process.
- Online and quick application procedure.
Cons of TriPoint Lending
- Negative among many borrowers as they have been changing their terms of their loans after borrowers agreed to them.
- Not so good customer service reputation.
Conclusion
TriPoint Lending company is facing huge criticism from their customers. As they are claiming that the up front people are very aggressive to communicate. They are also claiming that the company has some hidden charges that they ask after agreeing to all the terms and conditions of the company.
So it is better to research about all the terms and conditions and application fee applied by the company in order to avoid any kind of hurdle in future.
