topic Re: Patriot Funding in Personal Finance

Patriot Funding

Jd2683 — Mon, 16 Jul 2018 16:44:56 GMT

Wondering if anyone has heard of Patriot Funding in Mandan, ND? I got a Pre-Approved mailing from them, but can’t find anything online. I’m looking to do a debt consolidation loan to boost my credit score and save some money.

Re: Patriot Funding

Anonymous — Tue, 17 Jul 2018 00:16:22 GMT

There aren;t any reviews because according to BBB they are only 2 months old

Re: Patriot Funding

Jd2683 — Tue, 17 Jul 2018 00:26:12 GMT

yeah. I saw that. It makes me kind of has it tends to do business with them. Any thoughts on a company that might be good for this? I’m a 654. I did request a Preapproval from Lending club and got a no.

Re: Patriot Funding

Anonymous — Wed, 18 Jul 2018 05:42:02 GMT

Im in ND too, and Ive never heard of that company. A friend of mine used One Main Financial recently and was very pleased with the experience. The interest is high (less than her credit cards were though) but she needed to consolidate her balances to improve her score to get a better job and get into a new apartment. I was there while she applied (to be a second eye and ear and ask neccessary questions) and they did state approval is based on ability to pay not actual scores and It was fast and funded the next day. It worked--within two months she was able to do both. If you are just needing a loan to improve your FICO I would definitely not gamble on a new company or use a consumer finance company just try a bank for a smaller amount. But if you are desperate and being balance chased on a high interest card One Main could help. I'm not sure where you are specifically but the Dickinson branch had great staff!

Re: Patriot Funding

Anonymous — Sat, 21 Jul 2018 01:16:38 GMT

I got one from a Patriot Funding based in NY.
The logo is a navy blue head of a patriot. Is this the same company bc I did some research and found some interesting information.

Re: Patriot Funding

Anonymous — Sat, 21 Jul 2018 07:29:32 GMT

I would avoid them why:
1)Not much on Google for "Patriot Funding" in Mandan except a very basic cover with contact info and the articles were very basic just enough to try and "look" legit.
2)Variations of Patriot Financial/Lending did pull up major issues and the descriptions all say scam. At BEST it is another payday loan, consolidation loan with an insane interest rate and there are already established companies you can use for loans without the gamble that it is a new name for a bad company or a new company that can do you badly.
3) Those loans can serve you or master you, and you may be able to accomplish your goals without one anyways and I'm sure if you sent out an SOS many from this forum will come to help, but please don't respond to their offer until you look at other companies and have had a full 360 look at your situation because you may get screwed.

Re: Patriot Funding

Anonymous — Mon, 23 Jul 2018 21:22:20 GMT

I received 3 of these in the last 2 weeks all with different 800#'s to call. Go to the website(patriotfunding.com) and scroll all the way down to the bottom and click on disclosure and you will be enlightened.

Re: Patriot Funding

Anonymous — Mon, 23 Jul 2018 23:40:19 GMT

I actually went ahead and submitted my information. I qualified for two programs. When I received an email from the company, the person who sent it had a business email @financesolutions.org. So, I looked up www.financesolutions.org . They have good ratings with BBB, but the true problem is how they settle your debts. Depending on what you qualify for, they will make your payments lower almost immediately and tell you when you sign their paperwork, you can stop paying to the creditors and pay them a much lower consolidated fee on a date you choose. However, the money you pay them goes into an account to pay for lawyers, etc, not creditors as you may have thought. They have completely stopped paying your bills. They don't pay for a few months in hopes of a settlement with your creditors, which isn't guaranteed. Now, if you're already not paying your creditors, this approach is perfectly fine, but if you were actually paying your creditors, this may not be the best for you. I'm almost positive you can get sued for not paying your debts and essentially, that's what it looks like to your creditors. From what I understand this is in your contract when you sign up for services (I never went as far to get a contract bc I researched them). They do tell you that you will temporarily experience a drop in credit and now I'm sure this is the reason why. I haven't heard about what these tactics will look like on your credit report for this company, but with other companies like them, any status could show. It could show paid as agreed if they are able to settle or didnt pay as agreed, etc. It just depends on how they settled.

Re: Patriot Funding

Anonymous — Tue, 24 Jul 2018 14:45:13 GMT

Any debt consolidation "program" that involves negotiating or whatever with creditors will substantially affect your credit. It's not like pulling a hard copy of one's credit report that will result in a drop of a few points, but rather an extreme red flag goes up and your ability to get future credit will suffer. So, you did good by not signing any contracts! Because I have some debt, I have received other "offerings" in the mail as well(companies just pay for mailing lists that include people with certain amounts of debt with certain credit score parameters etc.). There are mailing lists for everything! I have since thrown all this "junk" out and will utilize other legitimate lending companies/banks. The Patriot mailing is a good example of "if it sounds too good to be true, it probably isn't". That's why I pointed out the disclosure to people. Thanks for your info!

Re: Patriot Funding

Elexismc — Tue, 31 Jul 2018 20:15:23 GMT

Oh boy...everything previous posters have said is true. We responded to a mailer to “Patriot Funding” only to be routed to “Finance Solutions” based out of NY. We are trying to pay down debt and at first the rep was very upbeat and helpful(with my husband). We thought we were looking into a debt consolidation loan-turns out it is a “credit card modification”(aka Debt Settlement) When I talked to him and asked him some more specific questions, he got more and more flustered and basically rushed through my questions and honestly felt very dismissive. When I decided we should NOT move forward with their “program”(aka letting current accounts got delinquent for 90 days with the “hope” that companies would settle for less) he became so hostile and rude on the phone, it was ridiculous. He was still screaming into the phone when I was hanging up. The reason you don’t see many bad reviews on the BBB, is because (if you notice) they almost all say “complaint details are unavailable”. I believe if they actually showed those details, you would most likely see many complaints similar to what I’ve shared. Also, the “program” that would save us so much money? $857 a month...with a whopping $137 of that going into a holding account each month to use towards negotiations with creditors. The rest goes to their “fees” for the first 18 months...then it gets bumped up to a whole $452 a month(out of that $857) for the remainder of the four year plan. They take a ton of your money with you hoping that they can fulfill their promises. They say “if” you get sued they will be there and represent you. I read way too many reviews where they did not follow through on that. The whole Patriot Funding/Finance Soultions/Anchor Law Firm (the law firm that “works on your behalf with the creditors”)situation should be avoided if possible!

Re: Patriot Funding

Anonymous — Tue, 31 Jul 2018 20:46:37 GMT

Elexismc,

What a helpful post for everyone! It certainly solidified my opinion.

Re: Patriot Funding

Elexismc — Tue, 31 Jul 2018 20:57:29 GMT

I just don’t want anyone to go into anything with this company and not actually see it for what it is! At least if someone knows exactly what they’re getting into(and not the fluff they feed you) they can make a better decision. For some, this may be exactly what they’re looking for(which is their choice!) but if they don’t have all the information, they may go into this and really end up much deeper in debt than they realize. I read one review where a customer that actually went through with this got sued by FIVE creditors around the same time and were offered little help from the company. Getting out of debt is not always easy, but it can be done in many different ways. Companies should just be up front about the process from the start!

Re: Patriot Funding

Anonymous — Wed, 01 Aug 2018 02:28:52 GMT

WOW!!! That is SO much worse than I coukd have ever expected! What a nightmare you really dodged a bad deal there! One woukd have to have hundreds of thousands in credit card debt and already have 500 score for that to "help" them. Thanks for sharing your story I hopes it keeps victims away from Patriot funding.

Re: Patriot Funding

Anonymous — Wed, 01 Aug 2018 03:28:33 GMT

Americor Funding I don't know much about it but it but seems like what you are looking for. Have you heard of it. I don't know if allowed to post the link or I woukd

Re: Patriot Funding

Elexismc — Wed, 01 Aug 2018 09:53:22 GMT

Americor Funding sounds like the same thing as Finance Solutions. I would steer clear of them too. I would say if anyone wants to get themselves out of debt, can’t/don’t want to do it on their own, and are under the understanding that they will need to close cards/stop using credit for a while, to look into a nonprofit company to get into a plan with them. These other settlement companies are not out to help nearly as much as they state. If someone feels they have an overwhelming amount of debt, that the payments are going nowhere, it’s time to take action. The path they choose in their decision of course-but the “savings” these other companies offer really aren’t much once you see where your money is going. At least with a dmp/credit counseling-you’ll see progress and your scores may take an initial ding when you close everything(your dti will obviously jump up) but you WILL start to see your scores rebound over time with the payments as opposed to a lot of “settled for less than full balance”, “charged off”, “sold to another agency” etc. I guess it depends on how deep you are and what it’s doing to your day to day life. I know it was causing me a tremendous amount of stress, so that’s why I started searching for a way out myself!

Re: Patriot Funding

Anonymous — Wed, 01 Aug 2018 16:37:32 GMT

I agree, there are so many other ways to get the situation under control depending on the goals and resources and payment history. It just seems without much more detail we cant really help. I hope the comments here were enough to keep the first poster safely away from Patriot. I'm in a really good spot now after rebuilding and never had credit card debt to have to look into these options but id prefer to be prepared for what ifs thats why I looked into the other companies . All of these programs really sound awful! Hopefully the original poster starts a new post with some more details and we can help them find a saner solution to their troubles. I say the advice here on FICO would be 1000 times better than a loan sharks..

Re: Patriot Funding

Anonymous — Mon, 06 Aug 2018 13:49:48 GMT

I think they are just a marketing company, that collects your info. I got something in mail from another name they go by: concourselending.com.

Be sure to read their website privacy policy and disclouse, it will tell you who they are owned by and/or affiliated with.

Re: Patriot Funding

Anonymous — Tue, 14 Aug 2018 16:42:41 GMT

Did you have a good experience with them?

Re: Patriot Funding

Anonymous — Tue, 14 Aug 2018 22:36:12 GMT

Hi!

No experience with them or the companies(debt consolidation programs only)that they forward your info to. I stay away from these type of organizations period!

Re: Patriot Funding

Anonymous — Thu, 23 Aug 2018 17:10:58 GMT

It's a sham.

I applied with them and then after I gave them all my sensitive information and consented to a credit auth - I never heard from them again. Will NOT return my calls - and when you call the main number and ask for a supervisor - all they say is they'll email them. The main number is a call center and NO ONE there can help.

I complained with the BBB - and they submited the complaint to SINEW Marketing which is apparently Patriot Funding's parent company. I'm still waiting on a response (2 weeks later), Yesterday, i got another letter in the mail that is IDENTICAL to the letter patriot funding sent me - telling me i was pre-approved, but the company name is Concourse Lending.

Looks like they have SEVERAL DBA's that they're screwing people over with - so they don't rack up a bunch of BBB complaints (presumably) either way - STEER CLEAR!!