About Simple Debt Solutions
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Founded in 2020 and headquartered in Encino, California, Simple Debt Solutions offers debt consolidation services to consumers across the nation. When you contact Simple Debt Solutions, a loan specialist will look over your financial situation and offer you a referral to a debt consolidation loan for up to $100,000. It does not originate the loans.
- Free consultation
- Up to $100,000 loan
- Not a direct lender
- Credit approval required
What is Simple Debt Solutions?
Simple Debt Solutions is a referral company that connects individuals with debt consolidation loan lenders. Through Simple Debt Solutions, you fill out a form with your debt details and get connected to partner lenders that match your criteria.
Requesting a quote is free, and checking rates will not affect your credit score. You will not be locked into a new loan until you fully agree to move forward with your chosen lender. You can change your mind after requesting the quote.
How does Simple Debt Solutions work?
A debt consolidation loan is a way to merge all of your debts into one bill with one payment. It works best with unsecured debt, such as credit card debt or other personal loans. It will not work with secured debt (i.e., debt backed by collateral) such as an auto loan or your mortgage. Additionally, student loan debt might not be an option to consolidate.
With debt consolidation, you’ll receive a new loan for an amount that can cover some or all of your current eligible debts. You then use that money to pay off those debts. Debt consolidation loans can save you money if your new loan interest rate is lower than your current interest rates on your debts.
For example, if you have two credit card balances with interest rates of 23% and 25%, and you pay them off with a debt consolidation loan that has a 15% interest rate, you’ll save money on interest over the life of the loan.
Simple Debt Solutions products and services
Simple Debt Solutions has partnered with debt consolidation lenders to provide loan options at different terms and rates. Loans range between $10,000 and $100,000, and term options range between 24 and 84 months. Keep in mind that the longer your loan is, the more you will pay in interest charges.
You can expect an annual percentage rate (APR) anywhere between 5.99% to 35.99% as of publishing. Your interest rate will be determined by the current market rates and your creditworthiness.
Simple Debt Solutions fees
Fees will vary depending on which lender you are matched with. Before agreeing to go with a lender, be sure you know what the origination fees are, as well as any other fees, like a prepayment penalty or late fee.
Simple Debt Solutions FAQ
Does Simple Debt Solutions have a money-back guarantee?
Simple Debt Solutions does not offer a money-back guarantee due to the nature of its service. It connects you to a debt consolidation loan, which will need to be repaid or refinanced if you no longer wish to use that specific lender.
Do I need a hardship to use Simple Debt Solutions?
No. Simple Debt Solutions is better suited for individuals who want to manage their debt and still have good financial and credit standing. If you are experiencing hardship or have a damaged credit score, credit counseling or debt settlement programs might be a better option.
Will using Simple Debt Solutions hurt my credit score?
You can expect a hard credit check if you sign up for a loan, which might lower your credit score temporarily. However, if you use a debt consolidation loan and make regular, on-time payments, you should see your credit score improve over time.
Is Simple Debt Solutions legit?
Yes, Simple Debt Solutions is a legitimate company, but it is important to note that it does not originate any loans. Instead, it connects you to a loan product to repay your debt. Terms and credit approval will vary depending on its partner lenders.
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Simple Debt Solutions Company Information
- Company Name:
- Simple Debt Solutions
- Website:
- www.simpledebtsolutions.com
