Yes, Liberty First Lending actually is a legit thing. How and why are we so sure? The thing is, it actually is a state-licensed lending and brokerage service. And it surely is a good thing to check your own before you sign up for anything like this. That’s how you make sure you don’t get in financial trouble later on.
Who’s Running Liberty First Lending?
The first thing to know is who these folks really are. Started in 2023, Liberty First Lending is out of Irvine, California. Formed as a limited-liability company, this basically means there are some legal things they have to follow, and they can’t lose more than what they have in the bank.
And if you’re confused about what they do and how they do it, well, just know that Liberty First Lending works two different ways when it comes to money. In some states where they have licensing, they actually lend the money to you directly. In others, they merely play the middleman, you know like passing your information to given credit companies and receiving a commission if you sign up with them. That’s pretty much the surface-level stuff.
Are They Legit?
Come and check whether they truly follow the regulations. Alrighty? You do not want to deal with a shady company, so here is the story behind it.
Liberty First Lending, to operate legally, took a license in Utah as a Registered Consumer Lender. So that is the permission they get-who or whom is to make or arrange loans for someone in the state. Therefore, if you find yourself in Utah, on that score at least, they are good to do business with.
Some good news here: we did not spot any huge lawsuits or major trouble coming from the federal watchdogs, say, the CFPB. So, nationally, they are not in hot water right now, it seems.
What They Offer
First, let us lay out what Liberty First Lending actually offers. It has a couple of options for you, depending on your particular case.
So, the thing is, loans are given from $2,500 to $45,000, if you qualify. Interest rates vary. But how much are we talking about? Oh, see, depending on 6 to 30 percent, with the payment being a nice, single fixed monthly payment made known to you upfront and free of charge.
If you are turned down for a loan, they might think to push you into a debt settlement program. After all, here they try to convince your creditors to accept less than you owe, and you settle with them for installment payments over time. Usually, that’s how it goes.
Our dedicated team gathers information from all the reliable sources to make the law accessible and understandable for everyone. We provide the latest legal news stories from across the country, delivered straight to you.