Searching for a personal loan can be challenging. In the crowded landscape of debt consolidation companies, Patriot Funding has become a familiar name for many consumers.
However, when it comes to matters of financial health, this company is one we needed to check out
Editors Top Best 3 Best Personal Loans
What is Patriot Funding?
Patriot Funding came to my attention during a search for companies like others, both of which send out mailers suggesting prequalification for a debt consolidation loan under 4%. However, it seems that individuals might not qualify for a loan but could qualify for a debt consolidation program, also known as debt relief.
It's essential to understand that Patriot Funding, like Loyal Lending, may function as a marketing company rather than directly providing loans or debt consolidation programs. Instead, these companies market debt consolidation programs (debt relief) on behalf of other entities.\
Distinguishing between debt consolidation programs and debt consolidation loans is crucial. Debt consolidation loans provide funds deposited into your bank account for debt payoff, while debt consolidation programs involve letting accounts fall behind and settling them.
If you're specifically seeking a debt consolidation loan, we've vetted three companies below that: 1) Conduct only soft credit checks, ensuring checking your rate doesn't impact your credit.
Don't impose prepayment penalties. When considering debt consolidation loans, checking rates from multiple sources can help secure the best terms. If qualification proves challenging, some individuals explore debt settlement as an alternative.