LendingTree was founded in 1997 and specializes in helping clients with several types of loans, such as mortgage, student, personal and auto loans. LendingTree has a platform that helps potential borrowers to find lenders and take out loans for many purposes, including debt consolidation. LendingTree helps clients with debt consolidation by having banks compete to offer the best rates to you, the customer. As of 2016, they have handled 55 million loan requests for $251 billion in loan transactions. They offer free consultation which can help educate customers for long term success. LendingTree also offers good interest rates which can help customers save money and pay off debt faster.

Rank Chart
Monthly Price
Accreditations
Our Score

#1

$0-69
CPFC,ISO,FCAA
9.3

#2

$10-49
CPFC,ISO
8.3

#3

$0-39
ISO,CC
6.9

#27
LendingTree Reviews | BestCompany.com

Undisclosed
None
2.3

The Good

Company Highlights

  • Free consultations
  • Financial tools and resources

Free Consultations 

LendingTree offers free consultations to interested consumers.

Financial Tools and Resources

Clients working with LendingTree have access to different tools and resources to help them improve their financial situation and financial education. Some of the resources available to clients include financial calculators, videos, guides, ebooks, and estimators. These tools and resources are available for varied financial topics such as debt, buying a home and loans.

The Bad

Middleman

The major issue with LendingTree is that the company isn’t solely a dedicated debt consolidation company. It is a middleman that aims to pair up potential clients with companies offering consolidation loans. This means that one person could go through LendingTree and get a great interest rate from one company, while another person could go through its service and get a much less favorable loan.

Availability

LendingTree does not disclose where they are available. This can limit potential customers from using their services without this information. National availability is important for a growing company, and also in providing quality care to more customers. The more available LendingTree’s services are the more potential customers will have a chance of working with them. Most debt consolidation companies offer information on which states they are available on their websites.

Cancellation

The cancellation policy and process is not published on the website. This lack of transparency can cause some miscommunication or mistrust with LendingTree. It is important to be clear with current and potential customers of what is to be expected if they choose to cancel. Most debt consolidation companies publish their cancellation policies and sometimes offer money back guarantees. LendingTree does not offer this information at this time.

Customer Complaints

Customer complaints indicated aggressive marketing, spam email, and representatives that were more interested in getting customers passed off to another company than helping them.

Fees

LendingTree is not transparent about the monthly and upfront fees a customer should expect to pay for their services at this time. This can be difficult for potential clients trying to find the best company for their needs. Most debt consolidation companies publish fees clients should expect to pay. This lack of transparency makes LendingTree not as desirable.

Company Drawbacks

  • Variable fees and interest rates
  • Unknown state availability
  • No debt counselors
  • Not a debt consolidation company
  • History of numerous lawsuits

Want to see the top rated Debt Consolidation Companies? Click Here

The Bottom Line

Although LendingTree may be a great option for those looking to get a low interest loan, the company isn’t a dedicated debt consolidation company. LendingTree does not have debt counselors, and does not work with customers on an ongoing basis to help manage their accounts. When looking for a company to consolidate debt, customers should look for a transparent company that is upfront about their fees and cancellation policies. Customers should also look for a company that offers consultation, education, tools and resources to help them get the most out of their experience. LendingTree is not transparent and offers limited resources. We don’t recommend LendingTree at this time.

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Frequently Asked Questions

Consolidation or Personal Loan?

LendingTree is not a debt consolidation company, but they help connect clients with debt consolidation companies to help lower their interest rates.

What Is The Monthly Fee?

LendingTree currently does not have monthly fees published on its website. Transparency with monthly fees is important to customers who are shopping around for debt consolidation companies.

Are There Any Upfront Fees?

LendingTree currently does not have upfront fees published on its website. Transparency with upfront fees is important to customers who are shopping around for debt consolidation companies.

What Is The Cancellation Policy?

LendingTree does not have their cancellation policy published on their website at this time. Cancellation policies are important in debt consolidations because some times customers needs change or they are not satisfied with the services they are receiving.

Can I Get a Free Consultation?

Clients receive one free consultation from a LendingTree counselor. Counseling can be an important resource for customers who have questions or need advice on how to stay debt free.

More Information

About LendingTree

LendingTree was founded in 1997 and has specialized in helping clients with varied financial needs. LendingTree pairs clients and companies together by allowing companies to make bids on a client’s account. This allows clients to get lower interest rates and pay off their debts faster. LendingTree also helps clients with mortgage, personal, business, auto and student loans. LendingTree has facilitated more than 55 million loans in over 19 years of business.

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    August 2nd, 2015 Westlake, OH

    If you enjoy never ending SPAM go ahead and submit your details to Lending Tree. Otherwise avoid at all costs.

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