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LendMarc: Did You Get The Mailer?

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Ben

Did LendMarc prequalify you for a loan with a 6.99% interest rate (similar to the one below)? 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)? This may be a common bait and switch tactic. 

If so, I wrote this article for you.

LendMarc mailer

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 LendMarc?

I went to LendMarc’s website, and found that they said they help you find loans that work for your situation. At the bottom of their website, they have in fine print, that they refer you out to different companies and they are not responsible if they do not qualify or meet their lending criteria. 

The bottom of the lendmarc website stating that it is not their fault if you do not meet the lending criteria

LendMarc History

Unfortunately, I was unable to find LendMarc on the Wayback Machine, so I predict it is a very new company.

 WayBack machine showing that lendmarc does not pop up

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 estimate 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.

Debt Consolidation Program Fee Calculator

Let’s look at LendMarc’s reviews.

LendMarc Reviews

I find it helpful to read reviews on any debt relief company before deciding if they would be legitimate and someone I would want to work with. Let’s see if there are any reviews online to help in our research. 

BBB

Unfortunately on BBB, I was not able to find LendMarc, but I was able to find LendMark. I am not sure if they have any relation. LendMark has a 1.15 out of 5 on BBB, so if they are related, it makes me weary to work with them, but again, I have no idea where this is the same LendMarc.

Lendmarc did not come up on BBB

Google Reviews

I was not able to find Google reviews for LendMarc (or LendMark for that matter). 

TrustPilot Reviews

Similarly to other platforms, on TrustPilot, I was able to find LendMark but not LendMarc. They had a rating of 3.1 out of 5, so better than what was seen on BBB. Again, I have no idea if this is the same LendMarc.

Lendmarc did not come up on trustpilot

Other Reviews

I was unable to find LendMarc reviews on other platforms.

Important Distinction: Loans vs Programs

Loans:

  1. Funds for the loan will appear in your bank account 
  2. Commonly has a fixed or variable interest rate.
  3. Credit score potentially can improve if you maintain the monthly payments 
  4. Creditors most likely will not threaten to sue, as long as your accounts stay current 

Programs:

  1. Set up an escrow account where monthly payments are deposited from until settlement is reached. You do not directly receive any funds deposited into your account
  2. Do not have an interest rate. Rates and fees will stay the same until your account reaches charged off status OR is sent to collections
  3. May see your credit score be severely damaged
  4. You fall behind on your accounts (90-120 days or more).
  5. Your creditors may threaten to sue
  6. May owe taxes on forgiven debt

Alternative Options to LendMarc

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. If you’ve searched far and wide for a loan and can qualify, consider taking the free debt consolidation program cost calculator below that allows you to compare to other options.

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Reviews

★★★★★

5.0 stars from 280+ reviews

Synthia DuBose

 08/21/2023

My family was grappling with the burden of credit card debt. We had explored various avenues, including debt relief companies and consolidation loans, but everything seemed dubious and left us feeling uncertain. That all changed when I came across Ascend and had the opportunity to connect with Justin. He reached out to me on the very same day, and from that point forward, things took a turn for the better.

I provided Justin with an overview of our financial situation, our objectives, and the timeline we hoped to achieve our goals within. He promptly outlined the possible courses of action and presented a thorough breakdown of our various options. What truly stood out was Justin’s approach—he never pressured me into making a quick decision. Instead, he offered me the information and allowed me to ask questions at my own pace.

Upon selecting the path we wanted to pursue, Justin facilitated our connection with a non-profit organization. Much to our delight, they exhibited the same level of courtesy, expertise, and patience that Justin had demonstrated. In retrospect, the entire experience instilled a sense of confidence within us. We now believe we have a solid foundation and are well on our way to achieving financial success!

Dahveed Krisna

 07/26/2022

Ben and his assistant Jeffrey from Ascend Finance did an awesome job helping me to find an attorney who could talk with me openly and honestly about Chapter 13 as an option for my financial situation. Before finding out about Ascend’s bankruptcy calculators, I was stuck on a wheel of countless offers for consolidation loans, but always steered towards debt settlement or debt management plans over and over again due to my credit score and high utilization percentage. Based on data I entered into Ascend’s calculator, Ben and Jeffrey reviewed my situation and quickly connected me with a skillful, experienced bankruptcy attorney. I finally feel like I’m on the best path to being debt free; one that will save me a lot more money than any of the debt settlement or debt management programs that other companies and agencies have offered me… THANKS Ben, Jeffrey and Ascend!!

JorJor Binks

 02/09/2024

These guys are truly a beacon for those of us with too much debt. From the start where I found Ben on the YouTube channel Ascend I have been treated as a real person by real people. Even getting a personal call helping me figure things out. I went through one of the lawyers recommended by Ascend and as of January 2nd I am debt discharged, and already have a great credit card from Mission Lane for $2000. Things are getting back into place and my life feels so much less stressful due to the weight of debt being off my shoulders.

PLEASE give these guys a call if you are even considering any sort of debt relief be it bankruptcy, consolidation, or whatever other types of debt relief are out there. I can’t thank the Ascend team enough. (I was not paid to post this, or told to do this. I am genuinely so thankful to have the help when I needed it most♥️)

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