Did you receive a mailer from Brice Capital similar to the one below pre qualifying you for a debt consolidation loan for an amazing rate? Are you wondering how Brice Capital can offer that rate when secured mortgage interest rates are over 7%? If you answered yes to any of these questions, you’ve come to the right place.
The purpose of this article is to provide specific information related to Brice Capital to help you make the most informed decision.
According to BBB, Brice Capital is a paid lead marketing firm, not an actual lender that will lend you funds for a debt consolidation loan. So, it’s unclear why Brice Capital can provide pre-approved loan rates mailers when they are not actually doing the underwriting of the said loan.According to the Brice Capital company BBB page, the business started on 5/30/2019, and is a corporation located at PO Box 7358, Bloomfield Hills, MI 48302. Two things you may noticed:
Important: Also, just as a note to be 100% transparent, Ascend is a for profit business, and we do our best to be unbiased in our reviews of companies. The only reason we write reviews such as these is because we do not believe in the marketing tactic to ‘prequalify’ individuals for a debt consolidation loan that you may not actually be able to get. When writing this article, one question we found ourselves asking was, “Does Brice Capital have permissible purpose to prescreen you via the credit reporting agency and are they providing a firm offer of credit at an interest rate that is not provided, but is anyone actually getting that firm offer of credit in a loan for under the federal funds rate of 5.0 - 5.25%?”
We provide the 2 debt consolidation loan options below because we believe that you were looking for a loan, but may not actually have been able to check your rate for a loan. That said, it’s important to understand that we do get a referral fee if you choose to move forward with one of the loan options provided.
Let’s go through the Brice Capital reviews.
Let’s look at the Brice Capital reviews to help you make the most informed decision, starting with BBB reviews.
Brice Capital received an F rating on BBB although there is only one complaint in the last 3 years.
Why did Brice Capital get an F rating on BBB?
There may be a clue about the F rating from an official BBB notice. The notice stated that BBB serving the eastern Michigan and the Upper Peninsula was warned that consumers received pre-approved debt consolidation loan offers in the mail. The issue is that 15 different companies including Brice Capital with P.O. Box addresses in Michigan did not actually have businesses at those locations. Here’s the section from the notice:
While Brice Capital may not be the same company as Bruins Capital or Cobalt Advisors, BBB does make the connection that each of these companies have P.O. Boxes in Michigan.
So, where are the Brice Capital reviews from Yelp, Google, Glassdoor, etc.?
One of the things that is interesting to note about Brice Capital is actually the lack of reviews. How big is this company? How many people are searching for this term?
What’s interesting is that AHREFs (a tool to analyze Google search trends) estimates that there were over 14,000 searches for Brice Capital in July 2022, but only 77 searches for Brice Capital in June, 2022 (just one month before).
How can a company experience such a huge increase in searches from one month to another?
Mailers.
Brice Capital may be getting all of its business from direct marketing mailers, which is may be what you received. If this company is tied to the other companies that BBB mentioned in its notice that includes Brice Capital, then it may make sense.
Look at the same data for Bruins Capital, which shows an estimated high of over 36,000 searches in May, 2021 to an estimated 0 searches in June 2022.
One question I have is whether Brice Capital refers individuals to actual lenders. Or, potentially, it markets to people who can’t qualify for a loan, but does qualify for a debt consolidation program, which is 100% different.
Also, while it does seem that BBB has connected these companies together as the same, it does not make sense why a marketing company would reinvent itself each time to send mailers out.
For example, California debt relief is a marketing firm for debt consolidation companies (also known as debt relief), but it’s been around for many years with consistent volume.
If you need debt consolidation, let’s discuss options next.
If you can’t get a consolidation loan from Brice Capital, what are your options? lDo you have a high debt to income ratio? Are your credit cards closed to maxed out?
If so, you may be in the position where you can qualify for a debt consolidation loan with an interest rate of 29.99% or the loan does cover the entire amount of your unsecured debt.
If you are about to face financial hardship, we built a free debt options calculator below that allows you to compare options such as non-profit credit counseling and debt payoff planning. If you are already in financial hardship, the calculator also allows you to compare debt settlement and bankruptcy.
The goal of the calculator is to inform you about the cost, duration and pros and cons of different options to get you out of debt easier.
