Panther Lending is a lending firm that offers personal loans, title loans, as well as debt consolidation. The company has a small presence on the internet and have none of their physical locations, therefore it is challenging to get reviews on their offerings. However, we’ve covered every aspect in the panther lending review blog article.
What exactly is Panther Lending
Panther Lending is a company that is headquartered within Bloomfield Hills, Michigan, which provides debt consolidation loans as a way to help customers deal with and settle credit card debts with high interest rates.
A debt consolidation strategy in which multiple high-interest loans like the balances on credit cards, get merged into one loan that has an interest rate that is lower which makes it easier to manage and possibly making the loan more affordable for the borrower in the long run.
How Does It How Does It
The process of Panther Lending involves a number of steps:
- application: Applicants provide basic financial and personal details on the application process. They insist that this process will not impact a person’s credit score.
- consultation: Within an hour of submitting their application, applicants will be connected to a personal financial advisor. The consultant talks with the applicant about their situation, addresses any questions, and provides the most suitable consolidation loan options.
- Options and Payouts Following a thorough review of the choices, the applicant selects the one that meets their requirements. The loan they select will be one fixed-rate installment, which could be up to 50% lower than their current payment, based on factors such as total debt and income of the household.
The company states that their service will not adversely impact the credit score of the user. They also offer an estimate of savings using a calculator. the savings that could be realized by consolidating debt.
PROS:
- They provide a range of loans that include personal loans, title loans and debt consolidation.
- They may be able provide you with a loan when you have poor credit.
- They offer a fast turnaround time, which means you can receive your cash promptly.
- They may be able offer a loan at an interest rate lower than traditional banks.
CONS:
- They are charged charges and high interest rates.
- Their terms and conditions may be complicated and confusing to comprehend.
- They have been accused of pursuing aggressive and deceptive practices in marketing.
- They have a low BBB rating.
- They are a brand new company without a previous track record.
Red Flags
- The company is brand new. Panther Lending was only registered in 2023. That means that Panther Lending has no history and it is impossible to predict how they’ll manage your loan.
- There are no reviews left by customers. Panther Lending has no reviews on any of the most popular platforms like Yelp, Trustpilot, or Google. It is an alarm since it implies that there’s no way of knowing what other customers ‘ experiences have been with the business.
- The company does not have a Facebook page. Panther Lending does not have an official Facebook page. This is a warning sign that the business isn’t open about its business practices.
- The rate of interest is high as are the charges. If the interest rate of the loan is greater than what you think of for similar loans this is an indicator of danger. Be wary of lenders that charge high costs, like processing fees, origination charges or late payment charges.
- Incomprehensible or confusing Terms and Conditions. If you don’t comprehend the conditions and terms of the loan, it’s an indicator of trouble. It is important to understand these terms and conditions thoroughly and know what you’re signing to.
- Marketing that is deceitful or aggressive techniques. If a lender employs deceitful or aggressive tactics to convince you to sign up for an loan, it’s an indication of red flags. For instance when a lender is calling you throughout the day or night of the night or daytime or promising terms that seem too appealing and aren’t true it’s best to stay away.
- A challenge to reach the customer support. If you have problems with your loan and aren’t able to contact customer service, this is an indication of fraud. A reliable lender will offer customers service who are simple to contact and quick to respond to your questions.
Is the Panther Lending Legit
Panther Lending is a new company which was officially registered in 2023. They provide personal loans, title loans as well as debt consolidation. They have a very limited online presence, and none of their physical locations, therefore it’s difficult to locate reviews of their offerings. However the reviews that are accessible are usually negative.
complaints concerning Panther Lending include:
- The high interest rates and the fees
- Uncomplicated and confusing terms and conditions
- Deceptive and aggressive marketing practices
- It is difficult to contact customer service
Strategies for Choosing a reputable Lender
Here are some more tips to select a reliable lender:
- Request quotes from several lenders prior to deciding.
- Review the loan’s conditions and terms thoroughly before signing anything.
- Ask questions if there is a problem with some aspect of.
- You should be prepared to leave when you’re not confident about the conditions for the credit.
