Quick Answer: Glider Lending appears to be a debt settlement company disguising itself as a personal loan provider, with their website promising to “reduce your financial obligation by almost 50%.” Their own disclosure states they are “not a lender” and “do not make loans,” contradicting their initial marketing approach.
A reader sent me a mailer from Glider Lending through my I Buy Junk Mail program.
On the surface, the mailer looks like just another offer for a personal loan to consolidate debt. In the last few years, there have been a number of such offers out there where consumers were told they did not qualify for a loan and were instead pitched debt settlement, sometimes with advance fees.
Every weekday I read the enforcement actions, filings and fine print the outlets skip, and turn them into the one or two moves that actually improve your position — a rate worth moving for, a fee you can refuse, a deadline to beat before it costs you.
In the latest issue (Oct 6): When fear picks your debt plan
I write Your Money Actually most weekdays — actionable money information you will not find anywhere else, and the small decisions that compound. It is free, I sell nothing, and I take no money from any company I write about.
The mailer mentioned credit card debt is passing and certainly didn’t raise any flags for me there. It wasn’t until I went to the GliderLending.com website that my curiosity was peaked.
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Here is what the Glider Lending site says, “Credit card debt is hard to manage – but we at Glider Lending want to help you fly into a new financial horizon. We offer a comprehensive debt solution that can reduce your financial obligation by almost 50%, with the ease of one simple monthly payment. Signing up is easy: all estimates, no account numbers, no credit pulls. Buckle up, your new life is ahead.”
Maybe they didn’t mean for it to sound so much like the usual debt settlement pitch, but it does to me.
And then there is the information request for which is geared towards only credit card debt.
Now I Want to Know More
The envelope has a return address of 275 4th Street East, Suite 496, St. Paul, Minnesota 55101. That’s the same address they list on their website.
Their disclosure statement on the website says, “Glider Lending is not a lender in any transaction and does not make loans, loan commitments, or lock rates.” They also say, “Glider Lending is not an agent of you or any lender. Glider Lending services are only administrative. Glider Lending is a paid marketing lead generator.” – Source
The privacy policy says Glider Lending is “owned and operated by Lucky Marketing.” Lucky Marketing was behind another similar offer that was sent out for Tweed Lending.
The State of Minnesota has no registered company under the name Glider Lending.
There is also no company registered to do business in Minnesota under the name Lucky Marketing.
If You Get an Offer From Glider Marketing
I would suggest before you leap that you check out the company yourself. An educated consumer is always the best consumer. You can use my free guides below to do your own research and reach your own conclusions before giving over private information.
- The Ultimate Consumer Guide to Checking Out a Debt Relief Company Before You Sign On the Line
- How to Check Out a Business or Company to Avoid Getting Scammed or Ripped Off
Before You Sign Anything: Run any debt relief contract through the free Contract Decoder to spot hidden fees and unfair terms. Check the company’s complaint history with the Scam-O-Meter.
Compare Your Real Options: Most debt relief companies won’t tell you about all your options — especially the ones they can’t profit from. Credit counseling has a 21-27% completion rate. Settlement resolves about 1% of enrolled debts fully. Bankruptcy has a 95% discharge rate — and protects your retirement. Take the Find Your Path quiz for a recommendation based on your actual numbers.
Gilder Lending and Piper Funding have the same exact piece of paper except for their name. They are scams…….stay away from these 2 outfits.
I guess all of us are here because we received the same letter and we are all in the same position. I couldn’t be more thankful to find this valuable helpful article. Thank you so much Steve for taking the time to do this. Your time it is much appreciated it.
Yes, I found it too good to be true so I decided to do some research. I am so glad I didn’t go farther. I am also in Indiana as someone else mentioned and the phone number they provided is 1-800-304-0908. I hope some day they run out of numbers.
I received the same letter in the mail and of course it raised flags immediately however I am in the market to consolidate some high interest credit cards if anyone happens to have a legit lender they can provide.
Like Scott, I have the same offer, only difference is the personal stuff and the 800 #. interesting the number on my offer is 1-800-635-9776. On the website it’s 1-800-659-0304. Wonder what it will be tomorrow. I have had a bunch of offers and they always end up in the round file. Wife and I are looking into a vacation so I figured its about time to finally take care of the high interest rate cards, consolidate, and use the extra for travel. Checked a few out, Lending Club, Upstart, Marcus, then I ended up at Glider. The other sites have you fill out basic info then the give you the rates and this does not hit your credit. Thought that’s what I would get at Glider. Filled out the basic info and when done it just said someone would be calling me. Guess I got suckered in a bit farther than I should have but I’m glad I came across this article. Wont be going any farther.
Thanks for posting it.
I just got a similar flyer and the number is now 1-800-451-1790 perhaps its area based? I’m in Indiana
I agree with the two comments above. I did not like that there was no online application process. I did fill out the form, and now I am getting calls, which I did not ask for. I am glad I did some checking online before calling them back, and I did read the disclosure on their website. I definitely don’t need a middleman! It seems that is all they are.
I also received a very similar letter from Glider Lending. As near as I can tell from the photo you posted, the only difference is my personal info, the amount they say I have been pre-approved for, and the phone number for Glider Lending which seems to now be 800-524-6156. Thankfully, I searched online and found your column first. The fact that you cannot find them listed as a business in MN and that their number has changed tells me all I need to know to avoid them. Thanks
So glad I searched for reviews since I had never heard of them. Their letter is getting recycled to help save a tree. Thanks!!
Thank you, Steve! This is a really valuable service you provide to consumers. Much appreciated!