This article is for informational purposes only and should not be construed as legal or financial advice.
Have you received a mailer from One Path Financial stating you were "pre-selected" for a consolidation loan with 6.95% interest, but haven't had a chance to review their reviews?
Someone I know received the mailer below, and because they are behind on their debt, it states that they qualify for an additional $10,000 with a lower monthly minimum payment.
These types of mailers can give you immediate hope if you are behind on your debt, or if your credit card debt is near maxed out, as reducing your monthly payment dramatically can provide the breathing room you need to pay your bills. Additionally, it's convenient that One Path Financial provides a personal code for you to apply, and you can check your qualification for free.
The good news is that you may qualify for something, but I am not sure that you would qualify for a 6.95% consolidation loan with a $10,000 added on. You may call the number and they may run a soft pull, but if you are behind or your credit cards are maxed out, you may not qualify for their "loan", but I wonder if you are eligible for their "program"?
A debt consolidation program is where you have to fall behind on your debt, you could be sued for the past due debt, and you could have to pay taxes on forgiveness debt.
This may be a good option for some, but it's helpful to understand the pros and cons.
If you are looking for a debt consolidation loan, we work with actual lenders who
Let's talk about who is one path financial next.
Who is One Path Financial?
Based on their website, One Path Financial can "Help You Take Control of Your Debt" in the form of debt consolidation loans of up to $150,000 with a low interest rate, and that you can "Get Pre-Approved In Minutes".
Source: https://apply.myonepathfinancial.com
According to the fine print, it's important to keep in mind that One Path Financial is not a lender themselves, but it sounds like they may instead share your details with affiliated companies.
Source: https://apply.myonepathfinancial.com
To get started, you'll just need to follow three simple steps. However, you'll notice that step one and step three are exactly the same...
Source: https://apply.myonepathfinancial.com
So One Path Financial pitches debt consolidation, but how much is that going to cost you and is it actually going to reduce your monthly debt obligation?
Let's cover that next.
How Much Does Debt Consolidation Cost?
You're wondering how much does debt consolidation cost, and what are your best debt options to reduce your monthly debt obligations.
See the 6 best debt options calculator that estimates how much debt consolidation costs, but also compares your monthly debt obligations to more affordable debt obligation plans. It's 100% free, and does not require an email address or phone number.
Let's next look at One Path Financial's questionnaire.
One Path Financial Questionnaire
1. After clicking the green 'Get Pre-Approved In Minutes" button, you're taken to a questionnaire page to answer a few questions to see if you qualify for a debt consolidation loan. It'll first ask you to confirm how much debt you have, as you'd need at least $25,000 in credit card debt to be considered.
Source: https://apply.myonepathfinancial.com/getting-started
2. You'd then confirm that the debt amount is correct and click the 'Next' button.
3. Then you'd share if you're behind on your payments.
4. Next you'd add your address.
5. Then you'd add your first and last name.
6. And finally, you'd add your birthday, phone number, and email address.
After clicking 'Get Free Quote', it sounds like the details would then be displayed on the next page, but instead it says that they'll be giving you a call shortly. So unfortunately, you don't receive any real details without doing a consultation of sorts, or providing your contact information to them.
Connection to Skyline Credit
If you scroll down on One Path's questionnaire page, you'll see they include three positive testimonials, but two of the three actually name a completely different company: Skyline Credit. Is it possible that they're connected? Or even the same company?
Check out our article on Skyline Credit below for more details:
Source: https://apply.myonepathfinancial.com/getting-started
One Path Financial Reviews
On their homepage, they also have a few reviews displayed from Facebook, TrustPilot, and Google - saying they have thousands of reviews on those platforms alone. However, those sites are not directly linked for us to read more reviews. You'll also notice that the wording in the reviews are exactly the same as the reviews that refer to 'Skyline Credit' above, but they changed the company name to One Path Financial... So let's try and do a Google search for more info.
Source: https://apply.myonepathfinancial.com
Unfortunately, I could not find any actual reviews for One Path Financial (or Skyline Credit) on Google, Better Business Bureau, Facebook, or TrustPilot.
Final Thoughts
There is limited information available regarding One Path Financial and their services, or actual client experiences, that in itself could be a reason to proceed with caution and have your guard up.
When it comes to receiving mailers offering loans, there are a few things to keep an eye out for.
1. It says you're "Pre-Selected" - sadly this does not mean pre-approved and does not guarantee anything. It's essentially just marketing to pique your interest.
2. Low interest rates - 6.95% APR sounds AMAZING, but this is often a tactic to get you to get in contact with them. Unfortunately, many people do not actually qualify for the loans they're advertising, and instead are offered a "program" instead, which is usually a debt settlement program. Debt settlement programs are a valid way to get out of debt, but definitely make sure it's actually the best option for your situation before moving forward. Beware of the bait-and-switch.
3. Urgent language - like we saw on the envelope at the beginning of the article, many of these offers say things like "Limited Time Offer" or "Immediate Response Requested", which adds pressure to act quickly. But often, there aren't actually any expiration dates, and these are just sales tactics.
At Ascend, we believe that the sooner you explore your options, the more choices and control you'll have over your financial situation. Understanding and comparing all available solutions is the first step toward lasting relief and changing your financial future.
You deserve to work with a team that will put your goals first, and not claim to have a one-size-fits-all program. We know debt can feel overwhelming, but you don't have to figure it out alone. Feel free to give us a call to talk things through at 833-272-3631. All calls are completely free, with no pressure - just clarity.
If you're interested in further comparing all debt relief options available to you, including bankruptcy, check out this calculator that will show you all potential options and cost estimates:
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