Simple Path Financial Review: A Detailed Investigation Of The Lender
Is Simple Path Financial legit? We will answer that question in this Simple Path Financial review.
If you’re having trouble getting a loan because of your credit history, Simple Path Financial may be able to help. They are both a direct lender and a service that will connect you with various loan financiers.
While some customers have had nothing but positive interactions with the organization, others have not been so fortunate. By reading our Simple Path Financial review, you can gain the information you need to make an educated choice regarding whether or not you should do business with them.
|Simple Path Financial Website||https://www.simplepathfinancial.com/|
|APRs||7.99% – 36%|
|Loan Amount||$7,500 – $100,000|
|Loan Terms||18 – 36 Months|
|Origination Fee||1% – 5%|
|Immigration Status Considered||Yes|
|Employment Statuses Considered||Yes|
|Credit Score Range||It depends on the loan type and lender|
|Intended Use||Personal use|
|Joint Loan Applications Accepted||N/A|
|Verification Documents Required||Verification varies with loan types and lenders|
|Late Fee||It depends on the loan type and lender|
|Minimum Credit Score||It depends on the loan type and lender|
|Minimum Income||It depends on the loan type and lender|
|Loan Purpose||Debt consolidation, Home improvement, Medical bills, Moving Costs, Major Purchase, Vacation, etc.|
|Supported Income Types||It depends on the loan type and lender|
|Time to Receive Loan Money||24 to 48 hours|
|Other Requirements||Name, address, U.S. tax identification number (SSN or EIN), and valid email address|
Is Simple Path Financial Legit or Scam? Regulation and Security
The goal of Simple Path Financial LLC, a debt consolidation organization, is to make paying off your debts easier and faster for you. All 37 states where they offer their services have issued them valid licenses to conduct business.
An A+ rating from the Better Business Bureau is another impressive accomplishment for Simple Path Financial. An increased level of trustworthiness is still associated with a BBB-accredited firm in the eyes of many consumers.
But many people have voiced their dissatisfaction with the corporation throughout the years. There have been a few complaints involving loan modifications and fraud, but the vast majority of the complaints are related to billing and collection concerns.
Simple Path Financial Pros & Cons
It can be difficult to choose the best personal loan provider from the many that exist. Many people go with Simple Path Financial, but is this necessarily the best choice? In order to assist you in making a decision, let’s examine both the benefits and the drawbacks.
One major perk is that they provide personal loans and debt consolidation loans. Both of which can hasten the process of paying off debts. However, interest rates and fees are somewhat expensive. In the worst-case scenario, you could end yourself with even more debt than when you started.
The drawback is that the Simple Path Financial interest rates are expensive. This will result in higher total interest payments during the loan’s term. Moreover, they also have a limited selection of lending options to consider. Therefore, Simple Path Financial may not be the best lender for you if you require a longer payment plan.
Some customers have also claimed that Simple Path Financial engaged in bait-and-switch tactics. They target the financially vulnerable, taking advantage of them by keeping them in a never-ending cycle of debt. True or not, being cautious will always save your day.
What Fees Does Simple Path Financial Charge?
Here is an overview of the fees that Simple Path Financial charges its clients:
Does Simple Path Financial charge an origination fee?
An origination fee on a loan from Simple Path could be anywhere from 1% to 5% of the total loan amount. Whether or not you are charged an origination fee is determined by the quality of the loan as well as the state in which you live.
Since the origination fee is often taken from the total amount that is loaned to you, you will never have to pay any money out of your own pocket.
Does Simple Path Financial charge a late fee?
Late fees are not disclosed on the Simple Path Financial website. Therefore, you must get in touch with your lender directly if you want more specific information on potential loan fees.
Does Simple Path Financial charge prepayment fees?
When you get a loan via Simple Path Financial, you won’t have to worry about paying pre-payment fees or penalties. However, these costs are not standard and are imposed by their affiliated loan agencies.
Is Simple Path Financial Reputable?
As a proud member of the Better Business Bureau, Simple Path Financial has earned an A+ rating. This fact contributed to the impression that the firm is trustworthy.
However, before signing anything, you should know that they have quite high-interest rates. Also, before deciding to work with this firm, it’s important to do your homework and fully comprehend the commitment you’ll be making.
Simple Path Financial Summary
In this Simple Path Financial Review, we can conclude that:
- Simple Path Financial imposes high-interest rates on its client compared to its competitors.
- In spite of an A+ rating with the BBB, Simple Path Financial has received more customer complaints.
- Simple Path Financial is not completely transparent about the offers you will receive. You must first get in touch with them in order to get clear details.
- While Simple Path Financial seems like it might offer you a fantastic bargain, the downsides outweigh the benefits.
Other lenders that are comparable to them also provide direct loans and access to other financiers. When compared to Simple Path Financial, these firms are far more transparent about what you could be provided.
FAQs About Loan Company
- Is Simple Path Financial a direct lender? Yes, Simple Path Financial LLC is a direct lender, but they also offer loan referral services.
- What is Simple Plan Financial? Simple Path Financial is a financial services firm. Moreover, they offer personalized loan offers for their clients.
- What is the most you can borrow from Simple Path Financial? It depends on the loan type, but you can borrow from $7,500 to $100,000.