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Did you get a mailer from Proper Funding that you pre-qualified for a debt consolidation of under 4%? Have you never heard of this company? Did you apply and then get rejected for the loan, but did qualify for a debt consolidation program? We will cover all that and more, so let’s get started.
What is Proper Funding?
Proper Funding appears to have the same look and feel of Loyal Lending and Patriot Funding, which basically appears to state that people may qualify for a prequalify for a debt consolidation loan, but it’s unclear how many people actually get a loan, and how many people get a debt consolidation program through something like Newport Legal Group Debt Consolidation. Please note that this mailer appears different than the Symple Lending mailer.
Secondly, I wrote an extensive article covering how debt consolidation programs ARE NOT loans. For example, when you enter a debt consolidation program, you let your accounts fall behind and then the company tries to negotiate.
If you are looking an actual debt consolidation loan, here are two companies that we vetted where you can check your rate without a credit score impact. Please note that checking your rate DOES NOT affect your credit score on these providers.
Apparently, SOFI has a program right now where you can receive $300 after your loan funds (terms):
It may be helpful to check multiple rates in some circumstances if you’d like to compare interest rates and origination fees. Here is an article we wrote covering what to look for in a debt consolidation loan.
Proper Funding History
In addition, wayback machine (which shows website history data) shows that Proper Funding’s first scrape was less than a year ago on July 12, 2022.
Also, when looking at Facebook’s page transparency, you will find that Proper Funding’s Facebook page was also built in July, 2022.
Let’s go through the Proper Funding reviews now.
Proper Funding Reviews
The two main review sites that I found that had data on Proper Funding was BBB and Scam Detector, so let’s go through those.
BBB page
Proper Funding has an F rating on BBB. There’s also an alert for Proper Funding that says that the mail sent to the mailing address on file was returned.
There are also two BBB complaints for Proper Funding, but unfortunately, when clicking on the link, you are not able to read the actual complaints.
Scam Detector Reviews
Scam Detector gave Proper Funding’s website a 23.8 out of 100. What I found interesting is that Scam Detector stated that athe website is poorly designed and doesn’t contain elements in meta data that could help its presence online.
Other Reviews
It was difficult to find other sites such as Yelp or Google that had reviews for Proper Funding. It appears that many websites may have reviews for Prosper, which is a complete different website.
Closing Thoughts
Proper Funding reminds me of Loyal Lending and Patriot Funding. These companies pay pre qualify you for a loan, but you may not qualify and end up in a debt consolidation program.
If you’d like to see legitimate debt consolidation loans, you can check the two options we vetted extensively below.
