Settlements are commonly negotiated by third-party agencies who help to discuss your dues with a creditor. In a settlement, it is usually discussed and agreed upon that the borrower pays the creditor a lump sum amount. This amount is usually less than what the borrower originally owes.
- Helps you quickly fix your financial problems
- Might be more costly in comparison to paying the actual amount that you owe
- An immediate but a makeshift solution to your debt issues
- Some lenders might not accept your settlement offer
To consolidate debt is to collectively combine all of your accounts and form them into one enormous, single debt. In debt consolidation, borrowers usually take out a big loan with a more affordable payment option or more moderate interest rates and use it to pay off several other creditors.
Does not require collateral
More attainable payment options
Instantaneous and straightforward process
May potentially decrease your credit score rating
Will accumulate a larger interest rate of up to 15-20%
More extended payment terms
A personal loan is a process of borrowing money from banks, credit unions, online lenders, friends, or relatives with a set interest rate and payment plan. Personal loans can be categorized into a Secured or Unsecured Loan. Secured Loans are loans that require collateral or down payment while Unsecured Loans do not require any of it.
While applying for a personal loan can be a viable option, it is also crucial to consider the proposed interest rates and repayment plans being offered to you.
A quicker method for clearing debts
Viable for a short-term solution
Lengthy approval time
May have higher interest rates
It can be agonizing to deal with employees who know nothing about the type of service or products they provide. In our experience, this minute detail can sometimes pave the way to put customers off.
Beneficial Funding, on the other hand, is powered by very competent and knowledgeable employees who are privy to the ins and outs of the organization. They were able to educate us with the various programs they offer and candidly walked us through the whole process.
Beneficial Funding has had a lot of raving critiques from editors and consumers alike. However, one of their most popular reviews is their offers. They are able to give customers competitive interest rates and terms that will help them alleviate their debt and shoulder them through their journey to financial freedom.
Beneficial Funding offers a diverse program set-up by giving clients the option to choose a more tailor-fit program that they are comfortable with. Their services range from debt relief plans, home equity loans, credit lines, personal loans, and financial management.
Although we personally like the buffet of options that Beneficial Funding has offers, some clients are not too keen about it. Some clients prefer companies who are service-focused and do not give too many different choices for relieving them of debt. However, we feel that having options allows you to really compare the pros and cons about one program from another.
If you’re looking for a company with all the perks and benefits at a reasonable cost, Beneficial Funding is your guy. We’re really impressed by the way their staff handles their clients, we’re enthralled by their competence and their knowledge in their product, we like the various options they give out to help their clients, and we are definitely happy with the rates they offer. If value for money is what you’re seeking, Beneficial Funding will not let you down.
If you’re looking for a company with all the perks and benefits at a reasonable cost, Beneficial Funding is your guy. We’re really impressed by the way their staff handles their clients, we’re enthralled by their competence and their knowledge in their product, we like the various options they give out to help their clients, and we are definitely happy with the rates they offer.
I read about their debt consolidation program on Yelp and I'm very impressed with the quick turnaround process and the convenience it brings.
I read about their debt consolidation program on Yelp and I’m very impressed with the quick turnaround process and the convenience it brings. It was the best decision I’ve made.
My rep was very courteous and not pushy
My rep was very courteous and not pushy, she put together the best deal that she could give me and helped me through the entire process.
Everyone at Beneficial has been very professional and pleasant to talk to.
Everyone at Beneficial has been very professional and pleasant to talk to. My agent, Joan, went above and beyond to make sure I got the best-priced loan rates and that I got them fast.
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It's an online service that helps you decipher the concept of each organization to find a program that is tailored for you.