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What Can You Tell Me About LoanRatePal That Keeps Calling Trying to Sell Me a Loan

Question:

Dear Steve,

Please check this company loanratepal.com I have received numerous robocalls qualifying me for a loan.

I can find not much information on the company, except they are owned by CT International, vidadebtrelief.com, and truvento.com on the BBB site.

Answer:

According to the LoanRatePal website, they appear to be a lead generation marketing company. Their site says, “Loanratepal.com is not acting as a lender or broker and does not make loans, loan commitments or lock-rates. The information provided by you to Loanratepal.com is not an application for a mortgage loan, nor is it used to pre-qualify you with any lender. All credit decisions, including loan approval and the conditional rates and terms you are offered, are the responsibility of the participating lenders and will vary based upon your loan request, your financial situation, and/or other factors and criteria determined by the lenders to whom you are matched. Loanratepal.com does not offer its matching services in all states. Not all consumers will qualify for the advertised rates, programs and terms.” – Source

The terms and conditions presented on the website have a very strange section.

“The customer must have or create a Facebook page in order to participate in the Loanratepal product. The customer must have or create all included social accounts that they would like utilized as part of the Loanratepal product. The customer must grant Loanratepal access to their Facebook page in order for page optimization and ads to be performed/created. The customer must grant Loanratepal access to post on their behalf through our “My Market Info” app.” – Source

I can’t understand how that makes any sense. Based on that clause alone, I would not do business with a company that required access to Facebook and social media accounts. But you should do what you are most comfortable with.

According to the BBB

The BBB says the company has an A+ rating and is located at 4540 Campus Dr, Newport Beach, CA 92660-1815.

Google street view shows a sign in front of that location for virtual office space.

What Can You Tell Me About LoanRatePal That Keeps Calling

ESDI says they offer “Our Virtual Office Program allows you to pay for the presence, space, products and services on an as needed basis with professional enhanced telephone answering services, voicemail and network access to offices and meeting rooms. The Virtual Office Program can provide your business the image without the high cost of commitment of leasing an office space.​” – Source

If the company only uses this as a maildrop, it is unclear where they are actually located.

A search of the State of California registered business records could not find any company under the name LoanRatePal or Loan Rate Pal.

You are correct. The BBB provides this additional information.

Alternate Business Name

  • CT International Inc
  • CT International Inc Which Will Do Business In California As Vida Debt Relief Inc
Related Businesses

Business Management

  • Mr. Adrian Malerbe, President
  • Mr. David Diaz, Manager

I recommend that anyone considering using such a company read the following free guides.

  1. The Ultimate Consumer Guide to Checking Out a Debt Relief Company Before You Sign On the Line
  2. 10 Must Do Steps to Find the Best Counseling or Settlement Company for You
  3. How to Check Out a Business or Company to Avoid Getting Scammed or Ripped Off

If you feel the company is calling without your permission, you can report unwanted calls to the FCC here.

Sincerely,


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Damon Day - Pro Debt Coach

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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
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