Did Golden Eagle Lending prequalify you for a loan with a interest-rate 3.89% interest rate for up to $70,000? Did you apply and get rejected for the loan, but you got approved for a debt consolidation program (aka debt forgiveness / debt resolution / debt relief / debt reduction / debt negotiation / debt settlement, etc.)?
If so, we wrote this article for you. We will cover the company, reviews, and the last question we will address is “Should you sign up for Golden Eagle Lending?”
Let’s start with the first question.
What is Golden Eagle Lending?
We first heard of Golden Eagle Lending when doing some Google searches, and we found this reddit post about a user who got a Golden Eagle Lending pre-approval letter in the mail for a 3.89% interest rate for a $70,000 loan. It immediately reminded me of this Loyal Lending article we wrote with the mailer pitching the same amazing rate of 3.89% for $70,000.
The stories are often similar and we covered them multiple times these past years.
Generally, you will receive the pre-approval letter in the mail, and you go to the website or call the phone number to apply. Next, you often get paired with a Strategic Consulting representative. The Strategic Consulting representative may state that you do not qualify for a loan, but you do qualify for a debt consolidation program and a notary can get you connected with the law firm (potentially Clear Creek Legal) who will do the program.
Debt consolidation programs are NOT loans. Debt consolidation programs are where you quit paying your credit card bills, and then a company attempts to settle them for less then owed. There are some pros, but the cons are that your credit score can go down, you could get sued for unpaid debt, and you could pay taxes on forgiven debt.
The most interesting thing we found about this is that the company letterhead is supposedly “recycled every couple of months”.
I need a loan. What are my options?
Ascend partners with a couple of options if you need a loan to help consolidate your debt. If you have been constantly denied for a debt consolidation loan, check out our free debt consolidation loan alternatives calculator below that helps you compare the cost of non profit credit counseling to other options.
Important: Also, just as a note to be 100% transparent, Ascend is a for profit business, and we do our best to be unbiased in our reviews of companies. The only reason we write reviews such as these is because we do not believe in the marketing tactic to ‘prequalify’ individuals for a debt consolidation loan that you may not actually be able to get. When writing this article, one question we found ourselves asking was, “Does Golden Eagle Lending have permissible purpose to prescreen you via the credit reporting agency and are they providing a firm offer of credit at a 3.89% interest rate, but is anyone actually getting that firm offer of credit in a loan for under the federal funds rate of 5.25 – 5.50% (source)?” In addition, if this is bait and switch, we also found that FTC has issued a Notice that bait and switch sales practices are unfair or deceptive trade practice and violate the FTC Act.
We provide the 2 debt consolidation loan options below because we believe that you were looking for a loan, but may not actually have been able to check your rate for a loan. That said, it’s important to understand that we do get a referral fee if you choose to move forward with one of the loan options provided.
Now, if you are struggling with debt, cannot afford it, and cannot get a loan, then you may consider taking our free debt options calculator (not even an email address is required ) that provides a range of options that may fit your budget based on personalized questions.
We built this free tool because we want you to understand your potential option to get out of debt and get a fresh start cheaper, easier and faster.
Let’s go through reviews next.
Golden Eagle Lending Reviews
Golden Eagle Lending did not have many reviews that I could find. That may be because Wayback machine (a website that shows how long a website may be around) shows that the first meaningful Golden Eagle Lending update was in December 2023 (last month at the time of this writing):
BBB
From my Google search for Golden Eagle Lending’s BBB page, I could not find any BBB page for Golden Eagle Lending.
This may be due to the website’s recent updates or maybe I couldn’t find it. As we couldn’t find a BBB page for Golden Eagle Lending, we also found no BBB complaints or other complaints as it’s not the same as Golden Eagle coins, which has a BBB page.
Yelp Reviews
I could not find anything about Golden Eagle Lending on Yelp just yet. This could be due to recency as well though.
Reddit Reviews
I found a couple of Reddit reviews where it seemed like people actually got the mailer themselves.
In this Reddit post, the Redditor mentioned that “Golden Eagle Lending is a paid marketing lead generator“.
The other Reddit post I found was interesting because there was a lot more dialogue about Golden Eagle Lending.
Other Reviews
I looked for Golden Eagle Lending reviews on Google and TrustPilot, but I could not find any reviews on those websites as well.
How Much Do Debt Consolidation Programs Cost?
At Ascend, we believe that debt consolidation programs (debt relief) may be a good option, but it’s helpful to go into it with eyes wide open with the pros and cons while comparing debt consolidation programs to such things as personal loans, credit counseling and bankruptcy.
Should you sign up for Golden Eagle Lending?
Signing up for Golden Eagle Lending is ultimately your decision and you know your finances and situations best.
That said, you may look to see whether others have actually received a loan from Golden Eagle Lending, and you may also be interested to look at the Glassdoor reviews if in fact Golden Eagle Lending works or is also SFS.
I’ll leave you with this SFS Glassdoor review, which mentions one of the more important aspects if you are considering going with them, which mentions that fees are often paid first, which is in the contract that many people do not read, and that there is a chance that you will be sued for unpaid debt. For example, the “Advice to Management” includes that 90% of the calls were customers complaining about lawsuits being filed against them.
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