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#25
Lending Tree Reviews

LendingTree

LendingTree allows users to compare several types of consolidation loans on its site. LendingTree is a third party service, not an actual consolidation provider.

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2.0
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Our Score
2.0
User Score
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Ratings Breakdown

Price

see details section
Undisclosed

Up-Front Fees

setup & activation fees
Undisclosed

Free Consultation

is one included?
Yes

Time in Business

total # of years
20 years

Credit Counseling

do they offer credit counseling services?
No

Certified Credit Counselors

are there certified counselors on staff?
No

ISO Certified

is this business ISO certified?
No

Number of Reviews

User reviews here on BDC
0

This Review is maintained by Chase Sagum

Review Last Updated: January 4, 2017

Since 1997, LendingTree has been comparing financial lenders for consumers. The company helps people find financial companies with the lowest rates in debt consolidation, home loans, personal loans, car loans, and more. It is important to note that LendingTree is a third party comparison service and not an actual debt consolidation company. The debt consolidation option LendingTree has are as follows:

  • Personal loans
  • Credit cards
  • Using your home equity to refinance
  • Debt relief
  • Student loan consolidation
Rank Chart
Monthly Price
Accreditations
Review

#1

Up to $69
FCAA & ISO

#2

$10 - $49
ISO

#3

Up to $39
FCAA & ISO

#25
Lending Tree Reviews

Undisclosed
None

While LendingTree credit card consolidation and many of these other services are fine for people in debt, the best option is usually debt relief. When you select debt relief, even though LendingTree is a third party site, the only company shown is Freedom Debt Relief. Freedom Debt Relief may be a good option for some, but we always recommend borrowing without a third party.

The Good

  • Offers a free consultation
  • In business 20 years
  • Educational resources

Loans

Most of the debt consolidation options LendingTree offers are loans. Loans may be a viable options for customers. If the potential customer is not interested in a loan through LendingTree, they may use their services to find other options. Those looking for a legitimate debt relief program through LendingTree will be redirected to Freedom Debt Relief.

Educational Resources

It you are still learning about debt consolidation, it might be beneficial for you to check out LendingTree. They provide such a broad-spectrum of educational resources and tools to consumers. Their “Tools and Learning” center offers anyone on the path to financial literacy a solid outlet for informative articles, glossary terms, news, articles, calculators, and even an “advice” section. For those who prefer visual media they include a list of featured videos incorporating a little humor on financial responsibility, which makes learning a little easier to digest.

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The Bad

  • Third party lender
  • Consolidation loans – not actual consolidation programs
  • Lacks major industry accreditations

Third Party Lender

Most of the debt consolidation options LendingTree has are actually personal loans. LendingTree is not the actual lender and information is outsourced to other companies. Since LendingTree is a third party provider, those looking for a legitimate debt relief program will be redirected to Freedom Debt Relief.

Lacking Accreditations

Because they are not actual lenders, they lack some highly recognized and federally backed accreditations. On top of that, there are no credit counseling services provided to consumers wishing to become educated on financial management. We would like to see them incorporate some credit counseling companies on their vast list of service offerings.

Issues with Service

While the company provides a quick and easy method for both lenders and consumers to have their financial needs met, it’s important to remember that once personal information is entered and submitted, inboxes will be flooded with offers and phone lines will become tied-up from companies competing. However, the company does well to take anyone off their list and send out do-not-contact information to lenders on the applicants behalf, unlike some other comparison-type companies.

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The Bottom Line

LendingTree is a huge financial resource that helps consumers find and work with the best companies out there. However, if you are looking for a traditional debt consolidation company and not a loan, you will just be redirected to Freedom Debt Relief. LendingTree is a third party site, because of this we do not recommend working them.

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About LendingTree

LendingTree is known for providing customers with a wide range of financial loan services and refinancing options. LendingTree does offer a debt consolidation solution that requires customers to apply for a debt consolidation loan. It provides debt consolidation loans for personal loans, credit cards, home equity, and student loans. LendingTree does advertise a debt relief program, but customers are redirected to Freedom Debt Relief’s website for further assistance. Other than a debt consolidation loan, LendingTree does not provide any debt consolidation program or debt management plans.


Contact Information

Website: www.lendingtree.com
Email Address: Contact Form
Phone: 1-800-813-4620
Hours: Monday-Thursday 8AM to 9PM EST; Friday 8AM to 8PM EST; Saturday 10AM to 7PM EST
Address: 11115 Rushmore Drive, Charlotte, NC 28277

Monthly Fees

Undisclosed at this time.

Up-Front Fees

Undisclosed at this time.

Money-Back Guarantee / Cancellation Policy

Unknown. Dependent on your loan provider.

Free Consultation

Yes, over the phone the agents are able to consult with you and help you pick the best loan for your needs. The website also gives you a way to get some consultations with loan officers before choosing the loan you want.

Time in Business

20 years. They have been in business since 1997.

Debt Education

Their customers can make use of the following resources:

  • Mortgage Calculators
  • Mortgage Negotiator
  • Mortgage Checkup
  • Live Mortgage Rates
  • Ratings and Reviews
  • Loan Officer Directory
  • Advice and Articles
  • Glossary of Terms

Unsecured vs. Secured Loans

Personal loans are unsecured only, but home and refinancing loans are secured.

Mobile-Friendly Site

Lending Tree offers a mobile friendly site and an app for iPhone users. It’s called the Mortgage RateFinder App which does a search for you to pair you up with customized loan offers. Once you see an offer that appeals to you, you can then click on it so you can be contacted by that specific lender.

 

 

Services Provided

  • Loan consolidation
  • Refinancing
  • Buying a Home
  • Reversing Mortgage Loans
  • Home Equity Loans
  • FHA Loans
  • VA Loans
  • Better Mortgage and Refinancing Rates

Minimum Debt Accepted

For debt and credit card consolidation, the minimum loan you can get is $1,000.

Online Dashboard

Since Lending Tree is a lender exchange service, they do not offer an online dashboard for members. All debt information and payments are handled by whatever lender the customer chooses for their loan.

CPFC Certified

No, Lending Tree employees are not CPFC certified. All personal financial planning is done with their lending partners.

ISO Certified

Lending Tree is not certified by the International Organization for Standardization (ISO), because they are just a lender exchange service.

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Poll

  • When looking for a debt settlement company, which of these two aspects is most important to you?
  • Takes your existing debt and try to settle with your creditors for a lower amount. If you pay off the settled amount, your debt will be considered paid in full.
  • Negotiates with your creditors on your behalf.
  • Fee based on a percentage of your total starting debt or a percentage of the debt they save you.
  • Most settlement companies have you create a separate "escrow" account where you will make monthly contributions over a certain amount of time to contribute to your settlement. Once there is a substantial amount of funds to show your creditors, the settlement company will try to negotiate a lower amount of debt.
  • Combines all your debts and creditors into one monthly payment.
  • Allows you to pay one monthly payment to the consolidation company, instead of multiple payments to different creditors.
  • You no longer owe your original creditors; instead you pay one monthly payment to your consolidation company.
  • Consolidation companies can help negotiate lower interest rates on your debts and help lower your total debt payment in the long run. A lower interest rate will lower the amount you owe in the end.
  • Allows you to consolidate all your different debts into one personal loan that can be paid off over time.
  • Can offer borrowers a lower interest rate with a longer payback term (compared to high-interest credit cards or medical bills). This will lower the amount of money required to pay off the loan over time.
  • Personal loan debt consolidation can be an effective way to raise your credit score quickly (within 3-6 months).
  • Borrowers can receive funds from their loan within only a few days.

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Our Score
2.0
User Score
--
Rank this Company

Ratings Breakdown

Price

see details section
Undisclosed

Up-Front Fees

setup & activation fees
Undisclosed

Free Consultation

is one included?
Yes

Time in Business

total # of years
20 years

Credit Counseling

do they offer credit counseling services?
No

Certified Credit Counselors

are there certified counselors on staff?
No

ISO Certified

is this business ISO certified?
No

Number of Reviews

User reviews here on BDC
0
Our Score
9.3
User Score
9.4
Rank this Company

Ratings Breakdown

Price

monthly price range
Up to $69

Up-Front Fees

setup & activation fees
Up to $49

Free Consultation

is one included?
Yes

Time in Business

total # of years
24 years

Credit Counseling

do they offer credit counseling services?
Yes

Certified Credit Counselors

are there certified counselors on staff?
Yes

ISO Certified

is this business ISO certified?
Yes

Number of Reviews

User reviews here on BDC
387