Tripoint Lending Reviews – Alleviate Financial, LLC, dba TriPoint Lending, is a marketing lead generator. It is also a Duly licensed California Finance lender. They offer personal loans as well as consolidation loans. And they advertise their services through Tripointlending.com and Alleviatefinancial.com
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What is TriPoint Lending
TriPoint lending offers personal loans to those in financial need. Is TriPoint Lending real? Is it a fraud? We will be taking a closer look into TriPoint Lending and its services in this TriPoint Lending review. We’ll also talk about whether TriPoint Lending scams and what you should know before applying to borrow money.
TriPoint Lending offers personal loans to those in need. It was established in 2017 and is based in Irvine, California. TriPoint Lending provides loans up to $35,000 with interest rates that range from 12% to 36%. TriPoint Lending doesn’t require a minimum credit score to be approved for a loan. The company claims it can fund loans within 24 hours.
Who owns TriPoint Lending?
Tripoint Lending offers personal loans to people with bad credit. Tripoint Global Equities, LLC, a New York-based private equity firm, owns the company. Tripoint Lending is a loan provider that offers loans up to $35,000.
The Better Business Bureau (BBB), has awarded Tripoint Lending an A+ rating and the company is also accredited by the BBB. Tripoint Lending received 8 complaints over the last three years. Two of those complaints were closed within the past twelve months.
There are several ways to reach TriPoint customer support. You can reach them by phone at (800) 307-1789, or by email at info@tripointlending.com. More information can be found on their website, tripointlending.com.
How Does TriPoint Lending Work?
Annual percentage rates (APRs), ranging from 4.95% (AA) to 30.00% (APR), are offered. The lowest rates are for credit-worthy borrowers. You can borrow between $5,000.00 and $100,000.00.
Although eligibility is not guaranteed, you might be eligible if your credit score and other conditions are met.
- Continue to meet the requirements for this prescreened offer
- A credit report, credit application, and credit history that meets our pre-established criteria.
- A monthly debt-to income ratio of not more than 50% (i.e. total monthly debt payments divided monthly gross income)
- Working for at least one calendar year.
What is the cost of TriPoint Lending?
There are no penalties or fees for early repayment. The interest that accrues on your loan balance will be the only one you pay. By repaying early, you can reduce the interest rate. All fees paid up until this point, including administrative or origination fees, are non-refundable.
Pros and Cons
TriPoint Lending offers many benefits, but there are some drawbacks.
The best thing about Tripoint Lending? is the simplified application process. It takes just a few minutes to complete the entire application process online.
There are also some drawbacks. They have a bad reputation with many borrowers. Tripoint Lending is known for changing the terms of loans after borrowers have agreed to them. Borrowers who aren’t prepared can be in serious financial trouble if they don’t accept the changes.
They also have a poor reputation for customer service. Many borrowers have reported difficulty getting in touch with representatives when they need assistance. It can be difficult to get answers to your questions or resolve any problems you might have with your loan.
Before you apply for a loan from this company, there are several things to be aware of. These disadvantages will help you make the right financial decision.
Tripoint Lending BBB reviews
TriPoint Lending BBB reviews show that there have been eight complaints against the company in the past three years. Two of these complaints were resolved within the past twelve months. Most of the complaints involve personal loan problems. Some customers also leave negative reviews on review sites. It seems that Tripoint is not a reliable company to do business with. You might want to consider other options if you are considering getting a personal loan.
I received the pre-qualified check in the mail and followed the instructions. Got a call 1 minute later to be put on hold for 5 minutes, then clicked on the option to get a callback. The prompter told me there was a problem and hung up on me.
1 STAR
David M 03/15/2022
I received a pre-qualified letter in the mail about a loan but I decided to ****** them first and that led me here. I find it interesting how the 1 and 2-star reviews are written in detail about what a negative experience they had dealing with Tri-Point, and how misleading it is about receiving what appears to be a check but in reality, it’s a debt consolidation program, but there are many more 5 star reviews with one or two sentence positive reviews, most of which are written in broken English. It almost gives you the idea that people are intentionally misleading people with positive reviews that are not authentic. I think I’ll pass on dealing with Tri-Point.
1 STAR
Carla C 02/18/2022
Predatory. They pre-qualified, have you apply, then pre-approved. It’s bait and switch. There is no loan. They take your money and don’t pay your debt until it’s 4-6 months late. Then they negotiate for a 50 percent settlement on your behalf after receiving your money for 6 months. The payment they quote you is only a 25 percent settlement and they pocket the rest. Certain accounts cannot be included and you have to keep those current or you don’t qualify for their loan (which doesn’t exist) after 6 months. Then you are stuck making huge payments to them for 24 months. THERE IS NO LOAN!! If you’d like me to negotiate settlements for you Id be glad to. It’s very easy and not worth going with a scam. Call your creditors and explain the circumstances. Settle for Pennies on the dollar.
1 STAR
Complaint Type: Problems with Product/Service 05/07/2021
Tripoint Lending, a high-interest loan company, called me at 9:15 pm CT on Thursday, May 6th, 2021 to sell me a high-interest loan stating that I need to know about their new information regarding loan offers due to Covid19. I was almost asleep for the day. The phone call is documented with a time stamp on my phone. I am already on the do not call registry. I have not done business with them. It’s a telemarketing call after 9:00 pm which calls for a fine and enforcement.
1 STAR
Dianna S 03/07/2022
I received a pre-screen letter in the mail. I then submitted information online per instructions on the letter. I received a phone call within 3 minutes of hitting the submit button. The first person transferred me to a second person who took my social security number, employment information, and other standard loan criteria. They then emailed me and had me review the information and click “submit”… then was told I was unable to receive the loan. Both persons on the phone were polite, but it was a long process to decline my load without any other information. It feels sorta “fishy”… hope I didn’t just give consent for something illegal. 🙁
2 STAR
Is TriPoint Lending a Legit or Scam company?
The company TriPoint Lending offers personal loans. Tripoint Lending is one of many companies offering personal loans. However, it has been criticized for its high-interest rates.
Tripoint Lending has received many negative online reviews, with customers complaining of the high interest rates and high fees.
Tripoint Lending is a legal company? It is not an easy question to answer. The company offers personal loans with high-interest rates and high fees. TriPoint Lending, on the other hand is a registered business with the Better Business Bureau.
TriPoint Lending does not recommend that you take out a loan unless you are certain you will be able to make the monthly payments. Failure to make even one payment could result in severe penalties and/or fees.
You should shop around to find the best rates and terms if you are considering a personal loan. Tripoint Lending is not the only option. There are other options.
