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LendingTree In-Depth Review
In a nutshell: LendingTree debt consolidation helps borrowers find the best loans to get on the path to paying off all debts for good.
LendingTree In-Depth Review
In a nutshell: LendingTree debt consolidation helps borrowers find the best loans to get on the path to paying off all debts for good.
LendingTree In-Depth Review

Overview

LendingTree is a popular online loan marketplace for debt consolidation services. Customers have the chance to find the best loans available and get on the path to paying off all debts for good. If you are looking for an escape route or simply need a loan to help boost you in the right direction, then consider contacting LendingTree.

Based in Charlotte, North Carolina, LendingTree was founded in 1998, and since then, has boomed in popularity as a lending marketplace. The publicly traded company offers a wide range of loans to choose from. Available loans cover a broad spectrum from debt consolidation and home financing to business and student loans.

LendingTree debt consolidation organizes multiple debts into a single loan. This can help manage your debt into a single monthly payment. Their online resources can help get informed, take control of your finances, and prevent you from getting into further debt in the future. On top of this, LendingTree also offers you the chance to check and help improve your credit score.

After filling out a simple and straightforward form, customers receive multiple loan offers and choose the loan terms that fit their needs. LendingTree makes it easy for customers to shop for debt consolidation loans by connecting consumers with offers from many different lenders within their marketplace.

Eligibility & Application Process

Customers find LendingTree’s website very easy to navigate. The platform walks you through debt consolidation step by step.

To get started, you simply need to provide basic information such as loan purpose, desired amount, credit rating, employment status, income, address, and whether you rent or own your current home. LendingTree does not ask for sensitive personal details and encrypts all their web pages ensuring your information remains safe and secure.

To qualify for a LendingTree debt consolidation, borrowers must be at least 18 years old, citizens or permanent residents of the US, own a verifiable bank account, and have a steady income source. There is no minimum credit score, though most lenders prefer a score of 600 or above. A low credit score does not mean you will automatically be disapproved, but it will likely lead to increased interest rates. Additionally, LendingTree will review your debt-to-income ratio which should fall around 36%.

Once your form is submitted, LendingTree will distribute the information to eligible matching lenders. After a lender receives a consumer's details, they will contact you by phone or email with detailed loan terms. LendingTree will always offer customers a minimum of five loan options that match the customer's credit score and loan requirements.

If you are unsure whether you qualify for a LendingTree personal loan, it is still worth filling out your details as LendingTree will be able to filter out irrelevant offers, leaving you with loan terms customized for your situation.

Debt Services

Those who have accumulated debt over the years may want to consider debt consolidation with LendingTree. In addition to debt consolidation, their financial experts can provide advice and information to help prevent accumulating more debt in the future.

After completing the initial first steps, LendingTree will provide a list of offers. You can easily compare options to find the best rate and loan term for your situation. Upfront offers allow you to see your interest rates and fees before accepting an offer.

As LendingTree is not a direct lender, the exact loan terms will vary and can depend on a number of factors. In general, LendingTree's network of lenders offers competitive rates, with APRs starting at just 6.99% up to a maximum of 35.99%. Repayment periods vary depending upon the lender and can range from 3 to 180 months (15 years). Lenders can request a loan amount from $1,000 up to $50,000.

In addition to debt consolidation, LendingTree also provides a range of other loan types. Home financing stands out as a popular choice to aid customers requiring a mortgage. These mortgages are available for both single-home owners and multi-family homes. LendingTree also provides personal loans as well as vehicle loans, including cars, motorcycles, recreational vehicles, and boats.

Types Of Debt Covered

Those who find themselves in over their heads in debt can rely on LendingTree debt consolidation services to get track to financial freedom. LendingTree provides a long list of covered debt types. For example, it’s not merely credit card debt that comes with debt consolidation. LendingTree will also cover your student loans, medical bills, tax debt, and utility bills.

Customer Support

Customer Service:

1 (800) 555-8733

LendingTree has an outstanding reputation due to their user-friendly website and reliable service. The company consistently delivers quality assistance to try and get you the best possible loan and debt relief available.

LendingTree customer representatives are conveniently available by phone Monday through Thursday from 8 am to 9 pm EST, Friday from 8 am to 8 pm EST, and Saturday from 10 am to 7 pm EST. Customer support is also available via LendingTree's email support system and customers can expect a swift response within one business day.

LendingTree also offers a wide variety of useful resources and tools that help borrowers manage their finances and improve their financial understanding. By offering loan calculators, interactive loan coaching, monthly newsletters, and more, LendingTree empowers consumers to take control of their finances and stay out of debt for good.

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Pros
  • Transparent terms
  • Free application
  • Multiple lenders
Cons
  • Not a direct lender
  • Loan solicitations
FAQs About Debt Consolidation Loans
Looking to improve your financial well-being and consolidate your debt? In addition to comparing the top debt consolidation lenders, we've compiled some of the most commonly asked questions about debt consolidation.
What is debt consolidation?
Debt consolidation refers to a financial strategy that combines high-interest debts into a single, lower-interest monthly payment. Consolidation loans have fixed terms and fixed interest rates, so you can take control of your debt, know exactly when you will be debt-free, and pay off your debt faster.
How does debt consolidation work?
Those looking to consolidate debt usually have two different options. A 0% interest, balance-transfer credit card involves transferring debts onto the card and paying the balance in full during a promotional period. Another type of debt consolidation provides a fixed-rate personal loan in which borrowers use the money from the loan to pay off debts before paying back the loan in installments according to new terms.
Does debt consolidation affect credit?
Debt consolidation can help improve credit if it helps someone make payments on time while also reducing the amount of money owed on different accounts. However, credit can suffer if the person continues to run up credit card balances again or miss payments.
What is the best debt consolidation solution?
The best debt consolidation lender for you will depend on several factors, including the amount of debt, type of debt (s), financial history, and what type of terms you are looking for. Those looking for a quality debt consolidation loan should consider these factors and review the different options using our comparison and in-depth reviews.
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