You may have received an ad or mailer from Lending USA, claiming they will help you get out of debt with a debt consolidation loan. What is this company? Where did they come from?
I became aware of Lending USA when I spoke with an individual stated that Lending USA offered a loan to help them expediate graduating from a debt relief program.
It seems as though they market two things, the first being graduation debt settlement loans and debt consolidation instead of doing debt settlement. They'll pitch that you can rebuild your credit and get out of debt and be current with their loans.
There are some companies that pitch debt consolidation loans but push you into a debt settlement program so it is important to know what type of program you are looking for. It is also important to ask a lot of questions when speaking with the companies to make sure they are upfront and honest about how their company works, the fees and the entire process.
I was able to find that Lending USA has been around for quite some time on Wayback Machine. It looks like it has been around since 2001. There is potential that at some point, another company had the name Lending USA with that website domain, but I was unable to find information on that. Their BBB says they have been around for 16 years.
I was able to find reviews on Lending USA, which initially looked promising.
Lending USA is rated 4.55/5 stars on BBB and has an A+ rating. However, they have 79 complaints in the last 3 years, 23 of which are in the last 12 months.
Most of the complaints discussed Lending USA taking out multiple payments from people’s accounts and those individuals having trouble getting a refund. It unfortunately affected their ability to make other necessary payments, like rent or car payments.
Let's see if we can find any Lending USA reviews.
I was able to find TrustPilot reviews of Lending USA from people discussing their experiences.
A lot of people discussed how easy the process was and explained thoroughly to them. They also discussed no hidden fees or feeling pressured to sign up with Lending USA.
Others had negative experiences, saying they were displeased with the customer service. They mentioned hidden fees, as well as finding it impossible to get into contact with someone.
From my research, it seems as though LendingUSA may market multple products, the first being graduation debt settlement loans and debt consolidation instead of doing debt settlement. They'll pitch that you can rebuild your credit and get out of debt and be current with their loans.
