Did Ladder Loans prequalify you for a loan with a 5.99% interest rate (similar to the one below)? What are www.ladderloans.com reviews? 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 / debt arbitration program, the list goes on and on)? 

If so, I wrote this article for you. One reviewer mentioned that this may be a bait and switch marketing tactic, so we will look at that as well.

My name is Ben, and I have spent the last 5 years helping people understand the differences in options to help them eliminate debt cheaper, easier, and faster. I have uncovered debt consolidation scams. I was also one of the first to write an article covering the unfortunate Litigation Practice Group bankruptcy have spoken with countless people negatively affected by it.

I created “Your Debt Relief Pal” to help protect you from debt companies that may use deceptive marketing and provide you with realistic estimates of your options for debt freedom.

What is Ladder Loans?

Ladder Loans’s parent company appears to be Blue Front Financial, LLC.

The manager of Blue Front Financial, LLC is FPH Capital Partners, LLC, which may be a private equity firm. It was unclear to me whether Ladder Loans is actually a lender or whether they refer to other lenders.

Ladder Loans History

I was able to find Ladder Loans on WayBack Machine. It looks like the website has been saved eighteen times in the last 13 years. It looks like in 2023, it started to pick up a bit. I am unsure if it has always been the same company due to the fact that their BBB page shows they have been in business for one year. We will cover that further on. 

Check Your Loan Rate and Compare Options!

You may be looking for a debt consolidation loan, but do you qualify? Is your credit score good enough? Is your debt-to-income ratio or credit utilization good enough?

I helped build this free consolidation loan and other options calculator to help you compare your rates across multiple debt consolidation lenders and your options to other options if you cannot qualify for a loan. It’s specific to your financial information, so if you have $10,000 in debt, it will provide an estimate of your situation.

You can then check your rate, which will NOT affect your credit score.

If you do check your rate, understand the interest rate and the origination fee to see how much you will save by consolidating your debt. The above options do not charge prepayment penalties and have fixed rates, but if you use a different lender, these are important characteristics to look for.

Did you receive a debt consolidation “program” quote?

Have you spoken to a representative who mentioned a loan, a program, and a hybrid option? If so, your quote may looks something like this:

1. $X Amount Per Bi-weekly or Month
2. Y # of Months
3. You may get pitched on a legal plan to protect against lawsuit
4. You may have no idea what percentage fee you are actually being charged.

When you get a debt consolidation program quote, you may just hear that your quote includes the monthly fee, but it’s crucial to understand what FEE you’re being charged.

As such, you may want to take this free debt consolidation program fee estimator to see what you may be being charged.

It takes 30 seconds and does not require ANY personal information.

Ladder Loans Reviews

One way to know if you want to work with a company is to hear from others. Reading about other people’s good and bad experiences can help you be fully educated on a company and how they function. Let’s explore some reviews on Ladder Loans. 

BBB

On their BBB page, unfortunately they received a 1 out of 5. I was unable to find any positive reviews. It appears as though they have only been in business for one year. 

There were a few negative reviews stating Ladder Loans is a bait and switch deceptive marketing company. It appears as though people experienced Ladder Loans attempting to push them into a debt settlement program. 

Google Reviews

On Google, Ladder Loans received a 3.3 out of 5 stars. This is based on 19 reviews, so there was not a ton to go off of.

There were a few positive reviews that discussed how they felt very cared for by Ladder Loans and the representative they spoke with. They mentioned you need a good credit score to qualify for a loan, but if you are able to then Ladder Loans was great for them.

The negative reviews discuss how the company is a bait and switch and you should not work with them. They also mentioned receiving constant calls and texts.

TrustPilot Reviews

On TrustPilot it looks like Ladder Loans received a 3.6 out of 5. They had quite a few reviews that helped in my research. 

The positive reviews talked about how easy the process was and how they felt as though the people speaking with them were very helpful.

The negative reviews discussed how high the interest rates were. They also discussed how the company is a scam and they recommend you do not call them.

Other Reviews

I was unable to find any other reviews on Ladder Loans. 

Important Distinction: Loans vs Programs

It is important to understand the distinction between a debt consolidation loan and a program to ensure you sign up for the correct thing you are looking for.  

Loans:

1. The loan amount will be put into your bank account.
2. Plan to have a set interest rate agreed upon by you and lender.
3. If you make the monthly payments on time, you could see your credit score improve.
4. Your creditors won’t threaten to take legal action (as long as you are able to keep up with the payments and do not fall behind).

Programs:

1. Set up an escrow account where your monthly payments will be pulled from until your settlement amount is reached.
2. There is no interest rate, but rather the interest and fees will accumulate until settlement is complete.
3. If you keep up with monthly debt settlement payments, your credit score can still be significantly damaged.
4. You have to fall behind on your accounts (Typically 90-120 days).
5. Your creditors can threaten to take legal action. 
6. There is potential of owing taxes on the debt that is forgiven. 

Alternative Options to Ladder Loans

Many people prefer to try to get a debt consolidation loan before looking at options such as debt management, debt payoff planning, debt settlement or bankruptcy.