Have you received a letter from Simple Path Financial or seen an advertisement on social media or another platform? Are the reviews legitimate?
We'll cover the answers to this question and more in this article, so let's get started.
Was Simple Path financial?
Simple Path Financial can offer Debt Consolidation Loans or also Debt Payment Consolidation.
IDebt Settlement should not be confused or confused with a debt consolidation loan, where proceeds are deposited into your bank account. Well, if you are looking for a debt consolidation loan, there are3 Debt Consolidation Loan CompaniesWhat We Check 1) Just do a soft check to check your credibility 2) Does not cover any prepayment penalties. With debt consolidation loans, it can be helpful to check your interest rate in several places to get the best interest rate. If you don't qualify, some people look into debt settlement.
If you do not knowdebt settlementit is the process by which a third party negotiates and settles with your creditor on your behalf. The goal of a debt settlement company is to find you a smaller payment that will pay off your debt in full. For example, a debt settlement might attempt to settle a $10,000 credit card balance for $5,000. This can result in significant savings and a potentially lower monthly payment.
I was the former CEO of a debt settlement company and I believe that debt settlement may be a good option for some but not for others.
If you are now struggling with debt and wondering what to do next, we have created aFree and Unbiased Debt Options Comparison Calculator(not even an email address is required), which offers a wide range of debt financing options that can fit your budget. The data is customized according to your income and expenses, providing exact costs, pros and cons, and options.
Next, let's cover the history of Simple Path Financial.
Easy way financial history
AccordinglySimple Path Financial's BBB page, the debt consolidation company has been in business for just over 5 years. At the time of writing, Simple Path Financial has a rating of 4.69 out of 5 stars based on over 500 BBB reviews. It also appears that they are a BBB accredited company as of May 2017.
Many of the reviews talk about debt service programs instead of personal loans. It's also interesting to note that one reviewer mentioned working with Freedom Debt Relief, a national debt relief company, in their review. Although I couldn't find any official connection between the companies, it is common for headquarters to open smaller branches to target specific audiences.
How much does Simple Path Financial cost?
At Ascend, we believe that debt consolidation can be a good option, but only in the context of understanding all of your options and understanding the cost of that option. That's exactly why we have a free oneDebt Payment Cost Calculatorso that you are better informed. While the calculator cannot give you your exact payment under Simple Path Financial's debt settlement plan, it does provide an estimate based on your personalized financial data and allows you to compare debt relief with other options.
Paying off debt can be a lot cheaper than your current obligations, but it's a debt relief option, which means it's there.Debt Settlement Pros and Consassociated with it. For example, while debt consolidation loans can help improve your credit score,Paying off debt can hurt your credit score.
Financial reporting made easy
Next, we'll cover BBB, Google, and TrustPilot ratings.
BBB ratings
Simple Path Financial's BBB pageit is highly rated. With just over 550 reviews, the company has a rating of 4.69 stars out of 5. And while this is an incredibly high rating, the reviews themselves lack any detail that might make them more credible. Most reviews are just nice without explaining the user experience during the process.
In the last 3 years, Simple Path's BBB site had only 8 complaints in total. Simple Path also has a 100% response rate to their complaints, which means that all complaints were handled by the company.
Google reviews
Similar to the BBB,Google Reviews for Simple Paththey are incredibly tall. With 437 reviews at the time of writing, Simple Path has a Google rating of 4.8 stars out of 5. Unlike the BBB, the reviews found on Google seem incredibly thorough and detailed. Many users report how easy it was to work with Simple Path to get a personal loan. The 5-star reviews seem a little formulaic, which could be a red flag, so be sure to read a variety of reviews to get the full picture of the company.
TrustPilot Reviews
And finally, Simple Path Financial also has aspectacular result of TrustPilot. With just over 1,000 reviews at the time of writing, Simple Path Financial has an overall score of 4.9 stars out of 5. Like the BBB site, Simple Path Financial also has a high response rate from those who leave negative reviews. . They usually try to contact those with valid complaints to resolve the issue at hand.
TrustPilot appears to be the platform where most users actively leave comments, with the last comment - at the time of writing - being left just 10 hours ago. Many of the reviews focus on a representative answering questions, not reviewing the actual service. Keep this in mind when reading the comments others leave.
Is Simple Path Financial legit or a scam?
Overall, it appears that other users who have worked with Simple Path Financial have been satisfied with their services. Looking at the negative reviews, it seems that many people think they are a classic "bait and switch" company. While this doesn't necessarily mean it's a scam, it could mean that Simple Path may be offering you a service that they really don't want to offer - like a personal loan, for example. So if you're looking for a variety of debt consolidation options, then this company might be perfect for you! However, if you're specifically looking for a personal loan, you might not get what you're looking for from Simple Path.
What if I can't get a debt consolidation loan elsewhere?
If you can't get a consolidation loan from Simple Path Financial, what are your options? Are you adding more to your cards each month than you are reducing them? Do you have a high debt to income ratio?
The challenge is that you may qualify for a debt consolidation loan, but the interest rate may be 29.99% or the loan may not consolidate all of your debt.
As mentioned above, if you have unpayable debt, we've developed the free debt options and expense calculator below to help you compare options like nonprofit credit counseling, debt settlement, and debt settlement planning. If you are already in financial difficulties, you can use the calculator to understand insolvency. No email address required unless you want additional free support.
Feel free to contact us at Ascend too!We helpproviding information, guidance and support in exploring debt relief opportunities. Our goal is to help you find an affordable solution to your debt problems that protects your best interests. Call us now or send us an SMS(833) 272-3631orContact us onlineForfree case evaluation.