Have you received a mailer from Funding First saying you are invited to apply for a personal loan, but haven’t had a chance to review their reviews?

Someone I know received the mailer below, and because they had existing debt, the mailer stated that their “current track” had an estimated balance of $14,000 with a $570 monthly payment. The Funding First option showed an estimated balance of $19,000 with a $271 monthly payment.

These types of mailers can give you immediate hope if you are behind on debt, struggling with credit card payments, or just looking for a lower monthly payment. Seeing a payment drop from $570 to $271 can feel like the breathing room you need.

The good news is that you may qualify for something. However, I am not sure that everyone who receives this mailer would qualify for the full $19,000 loan, the lowest advertised rate, or the exact $271 monthly payment shown.

You may call the number, provide your eligibility ID, and check your rate. But before moving forward, it is important to understand whether you are being offered an actual personal loan or a different type of debt program.

A debt consolidation loan is usually a new loan that pays off your existing debt, leaving you with one monthly payment. A debt relief or debt settlement program is different. In many debt settlement programs, you may stop paying creditors, fall behind, face collection calls, potentially get sued, and possibly owe taxes on forgiven debt.

Debt settlement may be a good option for some people, but it is important to understand the pros and cons before signing up.

If you are looking for a debt consolidation loan, we work with actual lenders who may be able to help you compare loan options.

Let’s talk about who Funding First is next.

Who is Funding First?

Based on their website, Funding First offers personal loans and consolidation loan options. Their site says you can check your rate, choose your plan, and potentially receive funds in as little as 24 hours.

Source: https://fundingfirst.com/

The important thing to know is that Funding First’s website says the operator, United Funding Systems LLC d/b/a Funding First, provides loan referral services. Their website also says they do not make personal loan, underwriting, or credit decisions.

Source: Funding First website

That means Funding First may not be the actual lender making the final decision. Instead, they may help connect you with lending partners.

You should understand who is actually offering the loan, what the APR is, what fees may apply, and what the total repayment amount would be.

According to the Better Business Bureau, Funding First is listed as a loan broker in Costa Mesa, California. BBB lists Funding First as accredited with an A+ rating. BBB also lists United Funding Systems LLC as an alternate name.

So, Funding First appears to be a loan referral company or loan broker, not necessarily the direct lender.

Let’s cover the cost next.

How Much Does Debt Consolidation Cost?

You may be wondering how much debt consolidation costs and whether it can actually lower your monthly payment.

In the mailer, Funding First shows a possible monthly payment of $271 compared to a current payment of $570. It also shows estimated monthly savings of $299 and first-year savings of $3,588.

That sounds helpful, but a monthly payment is not enough of a deciding factor to understand the full payment.

A lower monthly payment can happen for a few reasons. You may receive a lower interest rate, but the loan could also be stretched over a longer period of time. If the repayment term is much longer, you may have a lower monthly payment but still pay a lot in total over the life of the loan.

Funding First’s website says interest rates can range from 5.95% to 36%, loan amounts can range from $10,000 to $100,000, and repayment terms can range from 24 months to 240 months.

That is why it is important to look at the actual loan terms, not just the monthly payment shown on the mailer.

Before accepting any loan, you should understand the interest rate, monthly payment, repayment term, fees, and total amount you would pay back.

See the Consolidation Loan and Other Options Calculator that estimates how much debt consolidation may cost, but also compares your monthly debt obligations to other options.

Let’s next look at Funding First’s application process.

Funding First Questionnaire

The Funding First mailer gives you an eligibility ID and asks you to call or visit the website to check your rate.

Source: https://fundingfirst.com/

The mailer also says you can check your rate without affecting your credit score. Funding First’s website says checking your interest rate generates a soft inquiry, but individual lenders may later perform a hard inquiry if you move forward with an application.

This is pretty common with loan marketplaces. You may be able to check options with a soft pull first, but a hard credit pull may happen later if you apply with a lender.

The public website does not appear to show the exact loan terms before you begin the process. It says you can check your rate, answer questions, and see available options.

You should know whether it is a personal loan, a consolidation loan, or a debt relief program. You should also know whether Funding First is the lender or whether another company will be handling the loan.

Connection to Forward Funding and Charter Funding

One thing that stood out to me is Funding First’s connection to other similarly named businesses.

The Better Business Bureau profile for Funding First lists Forward Funding and Charter Funding as related businesses.

Source: https://www.bbb.org/us/ca/costa-mesa/profile/loan-broker/funding-first-1126-1000160382

There is also a detail on the mailer landing page worth noting. The mailer points to myffsavings.com, which is branded around Funding First. However, the advertiser disclosure link from that site opens a disclosure page that refers to Forward Funding and its partners receiving compensation from offers that appear.

Source: https://myffsavings.com/advertiser-disclosure/

If you received a Funding First mailer, it may be worth asking whether you are speaking with Funding First, Forward Funding, Charter Funding, United Funding Systems LLC, a lender, or a third-party partner.

Funding First Reviews

Funding First does have public reviews online.

Trustpilot

On Trustpilot, Funding First has positive reviews, with many people mentioning that the process was easy, the staff was helpful, and the customer service was good.

This review stuck out to me, the reviewer says that since he couldn’t qualify for the loan, they would jump you straight to a debt resolution (debt settlement) program.

Google Reviews

Looking at different ranges of reviews is helpful to get a sense of what people are saying about the service overall.

What stuck out to me with this review was the debt resolution service mentioned, since that can differ greatly from a loan, as mentioned in one of the Trustpilot reviews.

Even if a company has positive reviews, you still want to understand what you are signing up for. A positive customer service experience does not automatically mean the loan terms are the best fit for your situation, and if you don’t qualify, what you may end up jumping into.

You should compare the loan against your current debt, credit union options, other lenders, debt management, debt settlement, and bankruptcy if your debt is becoming unmanageable.

Final Thoughts

Funding First appears to have more public information available than some other mailer companies. They have a website, a BBB profile, and Trustpilot reviews.

That is a positive.

However, you should still be careful when reviewing the mailer.

The mailer says you are invited to apply for a $x personal loan. That does not mean you are guaranteed approval. It also does not mean you will receive the exact interest rate, loan amount, or monthly payment shown.

The biggest thing to watch for is whether you are being offered an actual loan or a different type of debt program. A debt consolidation loan and a debt settlement program are very different.

Also, make sure you understand the full cost. A lower monthly payment may help your cash flow, but if the term is much longer, you may not save as much as the mailer suggests.

We believe that the sooner you explore your options, the more choices and control you will have over your financial situation. Understanding and comparing all available solutions is the first step toward lasting relief and changing your financial future.

If you are interested in comparing all debt relief options available to you, including debt consolidation, debt management, debt settlement, and bankruptcy, check out this calculator that will show you potential options and cost estimates: