Heights Finance Review: Scam Or Legit? Find Out Here

There are a lot of personal loan companies out there, and it can be hard to know which ones are legit and which are scams. Heights Finance Corporation is a company that often comes up in online discussions, and there seem to be divided opinions on whether or not it’s a legitimate company. So, what is the truth about Heights Finance reviews?

Heights Finance is a personal loan company that offers loans of up to $10,000. The company has been in the financial institution business since 1994 and is headquartered in Greenville, South Carolina. Loans from Height Finance can be used for various purposes, including home improvement projects, debt consolidation, debit card payments, and emergency expenses all repayable in monthly installment payments. Interest rates on loans from Height Finance are competitive and range from 11.99% to 35.99%.

What do people think of Heights Finance? They seem to like it, giving the company an A+ rating with the Better Business Bureau. The BBB website rates them at 1 star, but that’s because they’re new. The BBB has only accredited them since 2015.

They say that offers great customer service. But it has been getting a lot of negative reviews online, with many people saying it’s a scam. People have complained about being promised one thing by their loan officer but receiving something else or being approved for a loan but never actually getting the money. It seems like this company is not living up to its promises, and you should be careful before doing business with them.

There is no clear verdict on whether Heights Finance is a scam. However, this company may not be trustworthy based on the reviews and ratings. Therefore, borrowers should consider other options before loaning with Heights Finance. Keep reading Heights Finance reviews to know whether this company is a scam.

What Is Heights Finance?

Heights Finance is a lender that offers high-interest loans to people with bad credit. The loan terms are rigorous, and the company uses bait-and-switch tactics, promising low-interest rates and then switching borrowers to higher rates after signing the contract.

There are many ways for people with bad credit to get money. The interest rates are often unfair, and the loan terms can be challenging to understand. Do your research and choose a different option that will work better for you in the long run.

How Do They Work?

Many people are struggling to make ends meet these days, and one of the ways companies are taking advantage of this is by offering low interest on loans. However, once customers have been approved for these loans, they often switch to higher interest rates without their knowledge.

Personal loans from Heights Finance can be a great way to consolidate debt or unexpectedly cover expenses. However, the company has been known to use aggressive collection tactics, which can further damage a person’s financial situation. Before doing your loan applications from Heights Finance, research and understand all the terms and conditions.

Pros and Cons

Heights Finance says that they can take care of your financial help but they offer personal loans with high-interest rates, which can be a problem for customers with good credit. Many customers have complained about being charged sky-high rates, even though they have good credit scores.

The company has a history of changing the terms of its loans without notice, which can make it difficult for borrowers to keep up with payments. This is just one of the many issues borrowers have with the company.

One downside is that not everyone can use their services, depending on location. So depending on where you are, you may not be able to take advantage of all the benefits this lender offers.

There have been many complaints about the customer service at Heights Finance. Customers report feeling treated rudely or like they are being ignored. This is unacceptable and something that needs to be addressed.

Heights Finance is not the best option for a personal loan. Other companies will offer you more favorable terms and better customer service.

Qualifying Process

You’ll need to meet a few qualifications before taking out a personal loan. Most importantly, you’ll need to show proof of income and residency. You’ll also need to provide your social security number and have a valid driver’s license or government-issued ID. Lastly, most personal loans will require some form of collateral.

Qualifying for a personal loan from Heights Finance is easy if you have all your ducks in a row. A good credit score, stable employment, and verifiable income are all critical factors in getting approved.

How Much Is The APR On Personal Loans?

A few multiple factors will affect how high your APR will be on a personal loan from Heights Finance. Things like how much you’re borrowing, how long you need to pay it back, and your personal credit history all play a role. However, personal loans from Heights Finance tend to have higher APRs than other types of loans.

Heights Finance offers a variety of personal loan options to suit your needs. Our APRs start at 15.99% and go up to 35.99%. Most of their customers fall into the 20.99% to 28.99% APR range.

Understanding how Annual Percentage Rates (APRs) work is essential before taking out a personal loan. The APR is the interest rate charged annually, which can affect the total cost of your loan. For example, a payment amounts loan of $1000 loan with an APR of 20% would have $200 in interest after one year.

Lenders offer different personal loans and different payment amounts options, so comparing APRs is important rather than just interest rates is important. Remember that if you apply for credit they will access your credit file in order to make a decision.

When it comes to personal loans, compare APRs from different lenders before making a decision. While one lender may have higher APRs, they may still offer the best option depending on your circumstances.

Types Of Loans Offered

Height Finance has installment loans. These loans are paid back in equal monthly payments, making them an option for consolidating debt, making home improvements, or covering unexpected expenses.

To take out the loan application process from Heights Finance, you will need to meet the following criteria:

• You must have a steady source of income
• Your income must be sufficient to cover the loan payments
• You must have a good credit history

You could qualify for an installment loan from Heights Finance, provided you meet these criteria.

Do They Require A Minimum Credit Score?

To be eligible for a personal loan from Heights Finance, you’ll need a minimum credit score of 640. However, even with a lower credit score, you may still be approved for a loan depending on other strong credit factors.

There are a few different ways to check your credit score. You can use websites like Credit Karma or Credit Sesame, which will give you a good idea of where you stand. Another option is to order a copy of your credit report from AnnualCreditReport.com. Once you have your credit score, you can start shopping for personal loans.

When considering a loan, it’s important to compare the interest rate, fees, and repayment terms before deciding.

Who Is The Owner?

The company has changed over the years, and it’s not always an easy question to answer. It has gone through several different owners and is currently owned by a private equity firm.

It is believed that the company behind FastPath Loans, Covington Credit, Southern Finance of South Carolina, and Quick Credit Corporation is based in Greenville. These companies have received many complaints.

The company in question is known for offering short-term loans, also called payday loans. It has been accused of predatory lending practices by some.

Alternate Business Names:

• FastPath Loans
• Covington Credit
• Southern Finance of South Carolina
• Quick Credit Corporation

How Can Heights Finance Affect My Credit Score?

Before taking out a loan from Heights Finance, it’s important to understand how it could affect your credit score. A hard pull on your credit report can lower your score by a few points, so it’s important to consider all the factors before making a decision.

Making your payments on time and in full is the best way to avoid having a lasting impact on your credit score. Missing or making late payments can severely damage your credit score and remain on your credit report for up to seven years. This could make getting approved for loans or other lines of credit difficult.

How To Cancel Their Service?

You have the right to cancel your Heights Finance personal loan at any time. Here are the steps you need to take:

• To cancel your loan, start by contacting customer service. They may ask you for a reason, so be honest but brief in your explanation.
• After completing the necessary paperwork, you will be directed to fill out a “Loan Cancellation Request.” This form requires basic information such as your name, address, and loan amount.
• It’s important to pay off your loan before you cancel it. Once you cancel, you won’t have to worry about making payments anymore, but any unpaid balance will still accrue interest.
• After you complete the form, sign it and send it back to customer service. Keep a copy of the form for your records.
• Once you have confirmed with customer service that your loan has been canceled, the process is complete. It can take up to a few weeks for everything to be finalized.

Need help with this process? Customer service is available to assist you. They can walk you through the steps and help resolve any issues.

Who Are The Affiliates?

Heights Finance is one of the many subsidiaries of the Southern Company, a large conglomerate made up of smaller businesses. These companies include Covington Credit, Quick Credit Corporation, and Southern Finance.

The Southern Company is well-respected, but Heights Finance has been the subject of many complaints. Most of these relate to the high-interest rates and fees that Heights Finance charges.

Heights Finance: BBB Customer Reviews

There are some complaints about Height Finance on the BBB website. They have had 74 complaints closed in the last three years and 21 in the last twelve months. This is a lot of complaints for one company to have. And it’s not just from the BBB- other websites have similar customer feedback. So, before using their services, you may want to think twice.

Here are some Height Finance BBB customer reviews:

Crystal S 02/07/2022

When I opened this loan account, I was told that there would be insurance attached if I ever lost my job or became disabled. I did, in fact, lose my job and contacted the company. I was told to come in and fill out paperwork, and my loan payments would be taken care of until I returned to work.

After a whole month since the time, I notified the company of unemployment and was waiting for help on this. I was told that I now owe two payments because I wasn’t out of work long enough. They even tried to tell me that my payment would be considered only once and I could not be late again without paying in full, and I had a late payment. What a way to put your customer in a bind. I would NOT suggest ever doing business with this company!

Rae R 02/05/2022

Whew! I’m so glad I read these reviews. I think I just dodged a bullet, Lol! It’s so sad that these things have happened to SO MANY PEOPLE! I was 2 seconds away from submitting my information, and something said READ THE REVIEWS and holey smokes is this a shady/Malice company. I would NEVER apply here, this company needs to be out of business.

Judy P 11/30/2021

Heights Finance in Eau Claire Wis is the ABSOLUTE WORST! Nothing but double talk, workers or a lack of REFUSE to answer their emails, NEVER call back when they say they will, constantly blaming it on just 1 person working, told us there were no funds available for a rewrite of a loan amount that they said they would do over a MONTH ago! Very bad attitudes! Blames computer system for everything. REFUSED to give a receipt for cash payment! ABSOLUTELY DISGUSTED!!

Ben E 10/14/2021

Fraudsters sending “preapproved” unsolicited checks in the mail with 100%+ interest. Shady business practices. Never contact me again.

Is Heights Finance Legit or a Scam? 

Do your research before working with Heights Finance. There have been many complaints filed against the company, and some have accused it of being a bait-and-switch scam. You might want to think twice before doing business with them.

Be sure to do your research before committing to any purchase, and always go with your gut instinct.

Some customers have come forward saying that they were promised one thing by their district manager, only to receive something entirely different. In some cases, customers declared that they ended up paying more than they originally agreed to.

Final Thoughts

There are a lot of companies out there offering financial services, and it can be tough to know which one to choose. You might be considering using Heights Finance, but you should think twice before doing so. There have been many complaints filed against the company, with some people even accusing it of being a bait-and-switch scam. Customers have said that they were promised one thing, only to be given something else entirely. In some cases, the customer ended up paying more than they originally agreed to. So, unless you want to take the risk, it’s best to steer clear of Heights Finance and go with a company that has a good reputation.

Heights Finance FAQs

Who works for Heights Finance?

Heights Finance has about 200 employees. 76% of Heights Finance employees are women, while 24% are men. The most common ethnicity at Heights Finance is White (73%). 10% of Heights Finance employees are Hispanic or Latino. 9% of Heights Finance employees are Black or African American.