LendingTree Debt Relief Review
Lending Tree is a large marketplace lender that matches applicants looking for a debt loan with lenders who may be a good fit. Borrowers can also connect to lenders through Lending Tree for mortgages, personal loans, business loans, auto loans, home equity loans, and credit cards.
With headquarters in Charlotte, North Carolina, Lending Tree also offers financial education, free access to some credit scores, and basic credit monitoring services.
What are they good for? Where do they specialize?
Although Lending Tree started in 1996 as a marketplace for home loans, they have branched out to offer every type of loan through their expansive network of lenders. There are hundreds of lenders in their network offering debt loans with terms to match most borrower’s needs.
Lending Tree also owns several high-profile financial websites, including:
- Ovation Credit
- Student Loan Hero
- Largest network of lenders in the US
- Loans for any purpose
- Financial wellness services like free credit scores
- Connect with lenders after soft pull of credit
- Must authorize hard pull of credit to get final decision from individual lender
- While Lending Tree doesn’t charge borrowers fees, the lender may charge origination fees
- APRs for personal loans and debt loans start at 10.49%
Applicants fill out a short questionnaire on the Lending Tree website indicating the type of loan they would like and how they plan to use the funds. They give some personal information, like their full legal name, address, and birthdate to facilitate a soft pull of their credit file. Lending Tree uses that information to match the applicant with as many as five lenders that are a good match for their credit profile.
This process takes just a few minutes. The borrower can choose from Lending Tree’s recommendations and research the individual lenders to find one that is the best fit for their situation.
After choosing a lender, the applicant answers some questions about their loan needs, income, past credit activity, and identity. They also authorize a hard pull of their credit files. If approved, the lender may provide loan funds in as little as 24 hours.
Terms & Requirements
Where debt is concerned, Lending Tree offers three main loan options. Applicants can choose a debt loan that combines many debts into one payment using a personal loan. They can open a balance transfer credit card, which pays off high-interest credit card debt using a new credit card account with a low interest rate, or they can choose a home equity loan, which converts a homeowner’s equity to cash so they can pay off debts.
To get a loan through the Lending Tree marketplace, applicants must be 18, US citizens, and have a debt-to-income ratio and credit score that meets an individual lender’s requirements.
Loan terms vary according to the lender. In general, APRs start at 10.49% and go up to 24.19%. Loan amounts start at $1,000 and go up to $50,000.
Repayment terms also vary according to Lending Tree’s wide network of individual lenders.
Privacy & Security
Lending Tree has an A+ rating with the Better Business Bureau (BBB). They’ve closed 78 customer complaints in the past 12 months.
There are 8,935 reviews from Lending Tree on the Trust Pilot website. 81% of users rated the company as excellent.
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Lending Tree does not sell any of the personal information collected through loan applications. Users can opt into email alerts, create an account, and opt into credit monitoring alerts.
Lending Tree offers customer support via the customer contact form on their website. Alternatively, Lending Tree users can get help by calling (800) 813 – 4620. Their North Carolina offices are open Monday through Thursday from 8 am to 9 pm EST, Friday from 8 am to 8 pm EST, and Saturday from 10 am to 7 pm EST.
After accepting a loan offer from a participating lender in Lending Tree’s network, the borrower deals directly with their lender, not with Lending Tree’s customer service department. It is important to research individual companies before making a decision about which loan is the best fit. Not all lenders have a good reputation when it comes to customer service.
Lending Tree offers borrowers who need a debt loan access to hundreds of lenders in their network. After completing a short questionnaire on the company’s website, borrowers can see loans that may be a good fit for their credit profile and needs. This eliminates the need to spend a lot of time scouring the internet for the right loan provider.
Credit challenged applicants may find companies that work with bad credit or no credit in the Lending Tree network, although they charge additional fees and higher APRs for access to the funds.
Lending Tree is a good choice for one-stop loan shopping. They have a solid reputation in the marketplace, are US-based, and have a history of providing borrowers with the resources and connections they need to successfully consolidate debt with a new loan or balance transfer credit card.
1415 Vantage Park Dr STE 700
Charlotte, NC 28203-4073Free Quote