A negative review from another CircleLending customer comes from Ms. M., who states that CircleLending should not be offering a product to people in their late 50s that has no exit strategy for them. She also questions whether people in this age group can really be in the habit of making minimum payments. If they cannot make their minimum payments, they should not have to use a solution like CircleLending, which involves the use of a credit card. In fact, this is not how debt consolidation generally works.
Debt consolidation is generally used when you owe more than one creditor. Typically, this includes your two highest-interest credit cards. The idea is to pay off all of your high-interest credit cards. You should be able to afford to pay the minimum payments for the other cards.
Mr. B, who has a credit score under seven hundred, is unhappy with CircleLending’s policy of trying to renegotiate his account. He did not receive a renegotiation offer, so he is now paying CircleLending. This is another concern. Credit repair programs have often had problems if a creditor puts a clause in a contract that allows them to renegotiate payment terms.
Ms. F, an account holder in Georgia, wrote to the loan officer to complain about an unexpected closing in her accounts. She did not report the closing to CircleLending, but it was the only account she ever had with the company. She does not understand why CircleLending did not explain this to her.
She states that she would not use CircleLending.She told us that she recently learned that she has a medical condition and will need care in the future. She needs help paying for health care and debt management, not CircleLending.
A few of the negative reviews focus on CircleLending’s lending for clients who have credit history issues. These loans will not help you rebuild your credit. At the time you apply for CircleLending, you may have a poor credit score. In fact, a large number of users of the program reported a poor credit score before they were approved for a loan.
If you do get a loan from CircleLending, it will probably take a long time to clear your records of negative information, even if you were to make timely payments. Unfortunately, the fact that you are still carrying a bad credit will often be more damaging to your ability to purchase a car or home.
Ms. L did not like CircleLending, because the customer service agent who came to meet with her was very rude. She said that she felt that the agent was rude because she informed her that she needed to take a sample credit report. It was after she did this that the agent informed her that she did not qualify for a loan.
Ms. M has a Direct Deposit Policy, which means that she should make monthly deposits directly into her CircleLending account. She reported that the CircleLending agent told her that she did not qualify because she did not have an active Direct Deposit. As far as she knows, she is still being charged on the account.
Some of the reviews are critical of the customer service representatives. Some claim that they keep asking a lot of unnecessary questions that are simply not relevant to the types of services that they provide. Others report that they were offered false promises that they do not believe to be truthful.
CircleLending needs to do all that it can to tell consumers about the necessary information it provides. The company needs to provide clear, accurate information about its products. And, it needs to be honest in all the details that it provides to customers.