Debt consolidation loan scams are on the rise in the US. A large number of consumers are witnessing the poor loan service from the lenders. According to the reviews on various platforms across the internet, Pacific National Funding is also providing poor service to the consumers they are attracting. There are many consumers who have given poor ratings to the lender for providing illegitimate loan service. Pacific National Funding is the part of a network of debt consolidation websites that are marketing through the internet and direct mail offers.
According to the Pacific National Funding reviews, the company is offering to provide the debt consolidation loans on low-interest rates but it rarely does so. There are many victims of poor loan service through Pacific National Funding who have increased their debts after getting funds through it. They are now paying monthly installments of the loan at a much high-interest rate.
Scams of debt consolidation loan are rising in the US due to many factors. People are getting high medical bills, cost of building a home is rising, and grocery item prices are also high. All these factors are increasing the debts of the people and they are looking for the best consolidation loan providers. Some lenders are benefiting from the people’s poor financial conditions and offering them debt consolidation loans.
It does not mean that taking a debt consolidation loan is bad but taking it through a legitimate lender is more important to avoid worsening your situation.