Achieve offers personal loans that can be used for a variety of reasons, including debt consolidation and funding a large purchase. These loans have terms ranging from 2 to 5 years, which is fairly standard. Although an indirect lender, Achieve is very transparent about their loans and what you could get as a borrower.
Achieve Personal Loans Review
Achieve is an indirect lender that offers personal loans ranging from $5,000 to $50,000 to borrowers with good or fair credit. These loans have flexible repayment terms and a starting APR starting at 7.99%, making them fairly competitive. The loan application is online, secure, and takes only a few minutes to complete.
Achieve Personal Loans Highlights
LOAN AMOUNT
$5,000 - $50,000
LOAN REPAYMENT TERM
2-5 years
MIN CREDIT SCORE
600
APR FIXED RATE
7.99% - 29.99%
FUNDING TIME
Next day available days
ORIGINATION FEE
None
PREPAYMENT FEE
None
OTHER FEES
None
SOFT CREDIT PULL
Yes
LENDER TYPE
Marketplace
Pros & Cons
- Loans up to $50,000
- Next day funding available
- Rate discounts may apply
- Excellent customer service
- Higher starting APR
- Origination fee may be included
Personal Loans Types
- Unsecured Personal Loans
- Fixed-Rate Personal Loans
- Co-singer / Joint loans
Loan Purpose
- Credit Card Refinance
- Debt Consolidation
- Home Improvement
- Medical Expenses
- Relocation
- Vacation
- Wedding
Achieve Personal Loans Terms & Requirements
Applying for a loan with Achieve
Applying for a personal loan is simple and can be done completely online. Go to Achieve main page and indicate how much money you want to borrow and the desired term. Then, follow the prompts to fill out general information. This includes your name, employment status, current address, Social Security Number, and birth date.
Step 1
Loan amount
From there, press “Continue” to agree to a soft credit pull – for prequalification purposes. This does not affect your credit score.
If approved for a personal loan, there will be a hard credit pull verifying your credit information. On average, expect to receive funds within 1 to 3 business days.
Qualification Requirements
- 600 or 620 FICO Score
- Source of income or proof of employment
- Personal and contact information
- Co-signer details (same as primary applicant)
Required Information
To prequalify for a personal loan through Achieve, you’ll need to provide some standard information, including:
- Amounted needed and preferred loan term
- Reason for the loan
- State of residency
- Name
- Email and phone number
- Employment status
- Annual income (verifiable)
- Whether you want a co-applicant
- Address and zip code
- Date of birth
- Bank account information (may be required after approval)
Application Steps & Time Frames
- The entire application is done online and only takes a few minutes.
- Once completed, it usually takes 2 to 3 hours for a credit decision to be made and for your application to be approved or denied.
- The time to funding is typically between 24 and 72 hours (longer if applying over the weekend or on a federal holiday).
State Availability
Available - Alabama, Alaska, Arizona, Arkansas, California, Delaware, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin.
Not Available - Colorado, Connecticut, Hawaii, Kansas, Maine, North Dakota, Vermont, West Virginia, Wyoming.
Not Available - Colorado, Connecticut, Hawaii, Kansas, Maine, North Dakota, Vermont, West Virginia, Wyoming.
Achieve Debt Relief Review
Debt Relief is one of the services offered to customers by Achieve. They can help you manage your debt into a position where you are making one monthly payment against all debt with a view to eliminating your debt within 24-48 months.
Achieve Debt Relief Highlights
MIN CREDIT SCORE
None
ORIGINATION FEE
None
PREPAYMENT FEE
None
OTHER FEES
Yes
SOFT CREDIT PULL
Yes
LENDER TYPE
Direct
Pros & Cons
- No upfront fees are payable
- Cashback offered if debt resolved is lower than fees charged (100% of the difference is repaid)
- The unique approach taken to every case via your personal debt expert
- Long-established debt relief company with excellent credit connections
- Can pay fees of up to 25% of the enrolled debt
- Not available nationwide
- Debt relief will negatively affect your credit score
Debt Consolidation Types
- Debt relief consultation service
- Debt consolidation loans
Achieve Debt Relief Terms & Requirements
To be considered for debt relief help from Achieve, you will need to be able to demonstrate the following:
- Have over $7,500 of debt
- All debt must be unsecured
- Must live in an approved state
- Must be able to show steady income
- Must be able to save an amount each month to contribute towards debt resolution
During the debt resolution process, you will stop paying your creditors and save that money for a future payment. Achieve’s experts will negotiate with your creditors on your behalf for a lower settlement amount during this time. This is why your credit rating is negatively affected, as the payments you miss are flagged on your credit report.
Achieve offers a free consultation concerning credit relief. Given that the company has resolved over $15 billion of debt since 2002, we recommend contacting Achieve if you are in debt trouble as the free consultation will be able to point you in the right direction on managing your debt.
How to Apply
You can apply for debt relief with Achieve online or via phone. We chose to start the application process online for extra convenience.
After selecting “Get a free assessment”, we were prompted to enter basic personal details, including our name, phone number, email, and date of birth.
Screen 1
How much debt do you have?
We then entered our address and SSN for verification purposes and authorized a soft credit check.
Following this, we were informed that we had passed the pre-qualification process, and we were invited to call a number to discuss our position with a debt relief expert. We called the number, spoke to someone after being on hold for a short period of time, and started the discussion process.
The debt relief expert discussed the process with us and informed us that debt relief would damage our credit profile but, if successful, could lead to us being out of debt in 2 to 4 years. The expert was helpful and guided us through the process clearly and in a manner that was easy to understand.
Overall, the application process was simple, and if you are in debt trouble that feels unmanageable, we recommend calling Achieve to discuss your position with them.
Qualification Requirements
- At least $7,500 of debt
- Reside in an approved state
- Be able to demonstrate stable income
- Have unsecured debt
Achieve’s debt relief program is only available in certain states, but its website does not notify which states are eligible for the program. As the application process is so quick, the best way to identify if you qualify for debt relief from Achieve is to apply online.
Required Information
As you proceed through the debt resolution process, you will need to provide Achieve with the following documentation:
- Name
- Address
- Date of birth
- SSN
- Email address
- Phone number
- Employment history
- Proof of monthly income
- Bank statements
- Housing status, including monthly housing payments
- Details of all loans and credit cards
Application Steps & Time Frames
The initial application took us 3 minutes, and we were able to organize a phone call with a debt relief expert the same day to discuss our situation. If you engage with Achieve to manage debt resolution for you, you can expect to complete the program within 2 to 4 years.
State Availability
Available in all states
Achieve Mortgages Review
Achieve offers a Home Equity Line of Credit (HELOC) through their subsidiary, Achieve Loans, formerly known as Lendage. HELOC offers fixed-rate advances that use the borrower’s home equity as collateral. HELOCs are generally provided at a competitive interest rate and are an easier way to consolidate debt than mortgaging or taking out a traditional loan with a bank. They are helpful for the flexibility offered as there are fewer conditions for use than with a standard personal loan.
Achieve Mortgages Highlights
REPAYMENT TERM
10 or 15 year terms
MIN CREDIT SCORE
600
FUNDING TIME
15 days
ORIGINATION FEE
2.5% of the requested amount
PREPAYMENT FEE
None
UNDERWRITING FEE
None
OTHER FEES
Yes
SOFT CREDIT PULL
Yes
NMLS
138464
LENDER TYPE
Direct
Pros & Cons
Mortgage Type
- Home Equity Line of Credit
Achieve Home equity Highlights
LOAN AMOUNT
$15,000 - $150,000
FIXED APR
10.25% - 16.00%
Pros & Cons
- More straightforward to obtain that financing via mortgaging your property
- Drawdown as much funding as is required, so you are not incurring interest on an unneeded amount
- HELOC is a debt solution tailored to your specific needs
- Requires your home to be used as collateral
- Origination fees and underwriting fees are payable
- APRs are pretty high, so they will only be helpful if your existing debt for consolidation is higher
- The limit of $150,000 is relatively low for HELOC
Achieve Mortgages Terms & Requirements
Achieve only offer HELOC, and as such, it is a requirement that you already own a property and have a sufficient amount of equity in the property. The following are also requirements to take advantage of Achieve’s HELOC product:
Mortgage Requirements
- A minimum credit score of 600 if HELOC is to be used for debt consolidation
- A minimum credit score of 670 if HELOC is to be used for cashout purposes
- A maximum debt-to-income ratio of 45%
- Property must be owner-occupied, with a loan to value of not greater than 80% (including the proposed HELOC request)
Mortgage Terms
- APRs of between 10.25% and 16% are available dependent on conditions including credit rating and loan-to-value position
- An origination fee of 2.5% charged
- Underwriting fee of $685 charged
- Loans available for between $15,000 and $150,000
Repayment Terms
- Repayment terms of 10 or 15 years are available
- Repayments must be made monthly
Generally, the terms and conditions associated with the Achieve Home Equity Line of Credit are not overly competitive. The APRs offered are higher than average, and many competitors do not charge origination or underwriting fees. While other debt-relief options from Achieve are very competitive, we would recommend shopping around for better terms if you are looking for HELOC.
How to Apply
We decided to test the application process for getting HELOC from Achieve, as the company has a reputation for a straightforward, streamlined application process. After navigating to the Home Equity Loan section of the website, we were greeted with a simple opening screen to start the process.
We were then met with another simple screen to confirm that we wanted to use the financing for debt consolidation and that we were homeowners. After this, we were asked to enter our basic personal details.
Screen 1
How much do you want to borrow?
Qualification Requirements
We followed up this by giving our home address and Social Security Number. Finally, we ticked that we submitted to a soft credit check being undertaken. We then clicked “See My Offer” to complete the pre-qualification.
We were approved, and the next step was to speak with a personal advisor from Achieve Loans. They helped guide us through a more in-depth application process and advised us of all the information we would need to provide, including proof of identity and proof of income and home ownership. At this stage, a hard credit check was performed.
If your application is successful, funding will be processed and sent to you within 15-18 days on average.
The initial pre-qualification process was quick, and we got an idea of the HELOC rates available to us. The second part of the application wasn’t quite as fast, but the personal advisor was friendly and efficient, and the application process was not complicated.
Qualification Requirements
To be eligible for a HELOC from Achieve, you must meet the following requirements:
- US citizen or permanent resident
- A minimum credit score of 600 for debt consolidation or 670 for cash out
- A minimum debt-to-income ratio of 45%
- Must have steady verifiable income
- Property must be owner-occupied
State Availability
Achieve does not off HELOC in all states. Unfortunately, Achieve does not say which states offer HELOC and which do not. Therefore the best way to establish which areas are eligible is to start the pre-qualification process, and you will be informed if you are in an ineligible state.
Required Information
When going through the application process, we had to provide the following documentation to Achieve:
- Proof of ID
- Proof of income
- Proof of home ownership
- Social Security Number
- Email address
- Employment history
- Phone number
State Availability
Available in all states
Privacy & Security
Achieve is BBB-accredited with an A rating and 4.78 out of 5 stars. Under the Achieve banner, Lendage is also accredited with 4.51 out of 5 stars. Both websites use a secure encryption certificate to protect user data and transmit it safely.
Most online reviews are positive, with customers expressing satisfaction with the fast, hassle-free process. Many reviewers also indicate they successfully saved money on interest and lower monthly payments.
While Achieve does not have a history of privacy or security concerns, its predecessor Freedom Financial Network reached a settlement of $25 million in 2019. This resolution was due to a lawsuit by the Consumer Financial Protection Bureau, which accused Freedom of deceiving customers. While not admitting guilt, Freedom paid $20 million in restitution to affected customers and $5 million as a civil penalty.
Customer Support
Achieve has a well-regarded customer support team known for its quick response times. You can reach Achieve’s customer support via phone call or online form. We were interested in arranging a free consultation and called the specific helpline to discuss our situation. The call was answered quickly without being placed on hold, and we had our consultation arranged within minutes. The level of customer support we received lived up to the excellent reputation of Achieve’s customer service team.
Phone Support
(800) 220-7791
Mon-Fri
6am-5pm PST
Sat-Sun
Closed
In Conclusion
Ultimately, we believe that Achieve is worth contacting if you are experiencing financial difficulties and would like to discuss your options with someone. Freedom’s expertise in addressing all levels of debt concern, from bankruptcy to smaller debts, is excellent, as you know that your particular circumstances will find the right experts to deal with your debt issues.
FAQ
Yes, Freedom Financial Network rebranded as Achieve in September 2022.
It depends on the type of debt you have and the solution that you are looking for. The best option is to contact Achieve for a free consultation.
Typical fees are between 15-25% of the amount of enrolled debt.
Achieve Disclaimer
Achieve.com, a d/b/a of Bills.com, LLC (NMLS ID #138464), operates as a marketing lead generator for affiliates and non-affiliates and as a broker for loans and debt resolution services offered by its affiliates.
We also provide specific mobile applications that allow consumers to view and analyze their finances. We may take applications for our affiliates, but we do not make credit decisions, originate loans, process consumer loans or bill payments, or provide other financial services.
We do not collect any fees or other compensation from consumers. Any financial solutions for which you may be evaluated for are offered by Service Providers with whom we are affiliated and/or compensated by those who participate on our website. Terms and conditions apply to each; not all are available in every state.
Disclosure
This website is an informative comparison site that aims to offer its users find helpful information regarding the products and offers that will be suitable for their needs. We are able to maintain a free, high-quality service by receiving advertising fees from the brands and service providers we review on this website (though we may also review brands we are not engaged with). These advertising fees, combined with our criteria and methodology, such as the conversion rates, our team of reviewer's finding and subjective experience and product popularity, impact the placement and position of the brands within the comparison table. In the event rating or scoring are assigned by us, they are based on the position in the comparison table, or according to other formula in the event specifically detailed by us. See our How we Rate page and Terms of Use for information. The reviews, rating and scoring are provided “as-is” without guaranties or warranties regarding the information contained in our website, which shall not be considered as endorsement. We make the best efforts to keep the information up-to-date, however, an offer’s terms might change at any time. We do not compare or include all service providers, brands and offers available in the market.
As an experienced content writer, Lauren’s passion for the finance sector is only exceeded by her love of writing. Lauren specializes in the financial industry, drawing on her knowledge and experience to deliver top-quality, specialized content with an expert tone of voice and a unique flair. She also holds a First Class (Hons) Batchelor’s degree from Staffordshire University.
8.0
LS SCORE
8.0
CREDIBILITY
8.0
SUPPORT
8.0
ACCESSIBILITY
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