Sagemore Financial is a debt consolidation company that aims to help people manage their debts more effectively. The company works with lenders that offer debt consolidation services that combine multiple debts into one manageable payment. By doing so, Sagemore Financial helps people reduce their overall debt burden, lower their interest rates, and simplify their monthly payments.
- BBB A+ Rating & Accredited
- $1 Billion Million Debt Resolved
- $10,000 Minimum Debt
Sagemore Financial Summary
During our examination of their website and terms and conditions, we came across some interesting details.
- Sagemore Financial doesn’t lend money or engage in any lending activities.
- Sagemore Financial works with a network of independent Lenders that provide debt consolidation loans.
- A Lender may decline to offer you credit if, after reviewing your application, the Lender finds that you no longer meet their criteria.
- You must use your Personal Offer Code to receive their offer.
- Annual Percentage Rates (APR) range from 2.92% to 24.99%.
How does Sagemore Financial work?
Sagemore Financial operates by linking borrowers with a group of autonomous lenders. If you meet Sagemore Financial’s requirements, you may be linked with one or more of these lenders. Every lender has their own set of guidelines and may not approve your credit application if they find that you don’t meet their criteria.
Loan amounts and terms can vary based on the state’s laws, leading to different eligibility for customers. Moreover, credit score can also impact these aspects.
How to Qualify for Sagemore Financial
The process of requesting an account with Sagemore Financial for debt consolidation is straightforward. Their staff will examine your application, confirm your credit history and score, and evaluate your regular expenditures and employment situation to establish your eligibility for an account. The creditor’s acceptance is influenced by various factors, but at the end of the day, it hinges on whether or not they are convinced that you will be able to pay back what you owe.
Sagemore Financial BBB Reviews
Sagemore Financial BBB rating is not available. However, they have a verified account with Trustpilot and a 4 out of 5 rating from a total of 5 customer reviews.
Is Sagemore Financial legit?
Is Sagemore Financial a trustworthy company? While SagemoreFinancial.com is not recognized by the Better Business Bureau (BBB) or evaluated by them, they do possess a confirmed profile on Trustpilot that includes 5 reviews. Their Trustpilot rating is 4 out of 5.
In case you require financial aid, they can assist you in linking up with various lenders. However, it is crucial to conduct thorough research and peruse through numerous customer reviews before making any choices.
Have you had any experience with this company? We’d love to hear about it in the comments below.
Thank you for reading!
FAQs
What is Sagemore Financial?
Sagemore Financial is a debt consolidation company that works with a network of independent lenders who offer a variety of loan products. This allows you to choose the option that best fits your needs. They advertise their services at sagemorefinancial.com.
What services does Sagemore Financial offer?
Sagemore Financial offers debt consolidation loans through a variety of partner lenders.
How does debt consolidation work?
Debt consolidation involves combining multiple debts into one loan with a lower interest rate. This can simplify the payment process and potentially save the borrower money on interest charges.
Can Sagemore Financial help me with my credit score?
Sagemore Financial offers access to personal loans with competitive interest rates that make it easier for the borrower to pay and can improve their credit score over time.
How much does Sagemore Financial charge for their services?
The fees charged by Sagemore vary depending on the services provided. It is recommended to contact the company’s customer service team directly for more information on specific fees.
Is Sagemore Financial accredited by the Better Business Bureau?
No, Sagemore does not currently have a rating from the BBB.
What is the process for working with Sagemore Financial?
The process for working with Sagemore generally involves a consultation with a debt specialist, who will review your financial situation and provide recommendations on the best course of action.
Does Sagemore Financial offer personal loans?
Yes, Sagemore offers personal loans to help borrowers consolidate their debt into one monthly payment.
How long does it take to see results with Sagemore Financial?
Results can vary depending on the individual’s financial situation, but Sagemore typically aims to help clients achieve debt relief within 24-48 months.
Can Sagemore Financial help me if I have multiple types of debt?
Yes, Sagemore can help clients consolidate various types of debt, including credit card debt, medical debt, and personal loans.
Glossary
- Debt Consolidation – The process of combining multiple debts into one loan with a lower interest rate and more favorable terms.
- Credit Score – A number that represents a person’s creditworthiness and ability to repay debts on time.
- Interest Rate – The percentage of a loan that a borrower pays in addition to the principal amount borrowed.
- Unsecured Debt – Debt that is not backed by collateral, such as credit card debt or medical bills.
- Secured Debt – Debt that is secured by collateral, such as a mortgage or car loan.
- Debt-to-Income Ratio – The ratio of a person’s monthly debt payments to their monthly income.
- Payment History – A record of a person’s past debt payments, including whether they were made on time or not.
- Late Payment – A payment that is made after the due date and can result in fees and damage to a person’s credit score.
- Collection – The process of attempting to collect on a debt that has not been paid.
- Bankruptcy – A legal process in which a person’s debts are discharged or restructured.
- Credit Counseling – A service that helps people manage and repay their debts.
- Debt Settlement – A process in which a person negotiates with creditors to settle their debts for a lower amount than what is owed.
- Interest Accrual – The process by which interest on a loan or debt accumulates over time.
- Principal – The amount of money borrowed or owed on a personal loan.
- Debt Relief – Any program or service that helps people manage, reduce or eliminate their debts.
- Debt Management Plan – A structured repayment plan that helps people pay off their debts over time.
- Debt Forgiveness – The cancellation of a debt, often due to a financial hardship or other extenuating circumstances.
- Default – The failure to make a required payment on a personal loan or debt.
- Creditor – A person or organization that lends money or extends credit to another party.
- Debtor – A person or organization that owes money or has taken out a personal loan.
- Financial Assistance: Financial assistance refers to any type of aid provided to an individual or organization to cover expenses related to a specific purpose, such as education, healthcare, or business operations. This aid may be in the form of grants, loans, scholarships, or other types of financial support.
