Did Reboot Finance Loans prequalify you for a loan with a interest-rate% 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)?
If so, I wrote this article for you.
What is Reboot Finance Loans?
I found out about Reboot Finance from someone I will name Samantha who stated that she applied for a loan, but then got rejected for a loan. After rejection, the individual appeared to pitch the Americor debt consolidation relief program. I will cover important distinctions about loans vs programs later.
If you are looking for a loan, we have 2 debt consolidation loan options that we like that do not affect your credit score when checking rate and do not charge prepayment penalties.
In the Reboot Finance LLC loan disclosure, Reboot Finance LLC states that it operates as a licensed lender in Utah. While I could find the business filings for Reboot Finance (image below) on the Utah Business Search, I could not find anything related to a lending license on the Utah Lending Licensee Lookup, nor did the website have the license number. That doesn’t necessarily mean the company does not have it, but it’s certainly interesting to note.
Next I used Wayback machine (a website that provide insights of websites changes) to see how old this website may be for Reboot Finance. Apparently, there has been only 3 website pulls between July 26th, 2023 and September 26th, 2023. That may indicate that the website is newer.
Next, I want you to understand the debt consolidation loans and debt consolidation programs are NOT the same as there can be huge negative implications of a program. Let’s cover important distinctions.
Important Distinction: Loans vs Programs
Loans:
You get funds added to your bank account.
You get an interest rate tied to the loan.
Your credit score could improve.
You do not get sued by creditors.
Programs:
You do not receive funds in your account. You setup a bank account to settle accounts.
You do not get an interest rate (even if they say 0%).
Your credit score can take a hit
You fall behind on your accounts
You can get sued by your creditors
You may owe taxes on forgiven debt
Even still, debt consolidation programs may still be a good option for you if you cannot afford your debt and cannot get a loan, but what does it cost?
How Much Do Debt Consolidation Programs Cost?
At Ascend, we believe that debt consolidation programs (debt relief) may be a good option, but often in context in understanding all the costs and duration estimates of all your options. As such we built the free debt consolidation program cost calculator below to help you compare your current monthly obligations to a debt consolidation program.
Reboot Finance Loans Reviews
Let’s go through what I found about Reboot Finance on BBB, Google, TrustPilot and other websites.
BBB
From my research, I could not find any reviews on BBB for Reboot Finance LLC.
Google Reviews
I could also not find any reviews on Google reviews for Reboot Finance LLC.
Other Reviews
Frankly I could not find any reviews for Reboot Finance for loans. there were reviews for Credit Reboot, but I assume that is a completely different entity.
Alternative Options to Reboot Finance 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. 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.
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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