Mobilend Review: Can You Trust This Company?

Mobilend, a debt consolidation service developed by Kuber Financial, is a popular debt consolidation service. Mymobilend.com provides more information about their service. A new site is being developed at mobilend.com as well.

Overview Of The Company

Following some recent buzz, we took a closer look at this company. Based on our extensive research, we gave Mobilend 3 stars.

A letter may have been sent to you regarding My Mobilend, Inc. debt consolidation. There might be some questions now. Here are some answers we can get.

We found the following:

• A third party processes all loan requests.
• Participating lenders do not guarantee that you will be approved for a loan.
• Depending on the terms of the loan, the APR (annual percentage rate) will vary.
• Loans are not arranged through it. 
• You deal directly with participating lenders.
•  In order to assess your eligibility, lenders may perform credit checks.
• It is not available in all states, nor are their services and qualified participating lenders.

Mobilend: What Is It?

This company, formerly known as Kuber Financial, offers debt consolidation loans funded by third-party lenders. They have been in business since 2015.

There are 0 complaints, but consumers rate this business 1 star out of 5 based on 2 customer reviews. This business has an A+BBB rating and has been accredited since 4/6/2020.

How Does This Company Work?

It’s being done for you by Mobilend that connects you with participating lenders. Mobilend is not responsible for the eligibility requirements that lenders set for borrowers. In addition, each lender sets its own APR and interest rates.

Several lenders and brokers participate in their program, but they do not endorse any of them. You will not be charged if they refer you to one of these lenders.

How to qualify for a Mobilend loan?

Your credit score will likely be checked before a lender extends you a loan to assess your risk as a borrower. You authorize a participating lender to conduct a credit check and verify the information you provided if you submit a loan request. Using it, lenders can determine if you qualify and what terms they may offer.

Mobilend cannot guarantee that you will receive a loan from the lender Mobilend refers you to. Your application may be denied if they feel you do not meet their lending criteria. In order to make a decision, your credit history and employment will be verified. Additional information, such as an income verification or credit report, may be requested by this company or the lender.

BBB Rating

Since 4/6/2020, Mobilend has been accredited and rated an A+ by the Better Business Bureau. Customers rate the company a 1-star on average.

Here are some Mobilend BBB Reviews:

FAQs

How much do they charge?

With Mobilend, you’ll never be charged any fees and you’ll always be able to find a participating lender with an interest rate between 5.59% and 21.48% APR.

How much can i borrow?

The loan term may vary from one to five years, depending on the state where you live. You may be able to borrow up to $55,000.

Is there any minimum credit score required?

In order to assess your eligibility for a loan, lenders will likely perform a credit check. When you apply for a loan from a participating lender, you authorize them to independently verify your creditworthiness and verify your information.

What is the impact on my credit score?

Considering a loan from this company will not affect your credit score. However, lenders may conduct credit checks as part of their evaluation process. You authorize a participating lender to verify the information you submit and to assess your creditworthiness when you submit a request.

Can i cancel their service?

Before the funds are deposited into your bank account, you can cancel the application for a personal loan. Once the funds have been deposited into your account, it is not possible to reverse or cancel the application.

Final Thoughts

Mymobilend.com has an A+ rating from the Better Business Bureau, which has accredited them since 4/6/2020. However, the average customer rating is 1-star.

The company does not act as a lender. Instead, they work with third-party lenders to fund loan requests. They have no control over the creditworthiness of the participating lenders.

To find the right financial company for your needs, do your research and read as many customer reviews as you can. There is no one-size-fits-all solution when it comes to choosing a financial company.

Comment below if you have any experience with Mobilend.

Thank you very much.