Patriot Funding

[Jd2683]

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.

[Anonymous]

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

[Jd2683]

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.

[Anonymous]

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!

[Anonymous]

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.

[Anonymous]

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.

[Anonymous]

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.    

[Anonymous]

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.

[Anonymous]

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!

[Elexismc]

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!