Is Patriot Funding a legitimate organization?

Today, I received a letter in the mail from Patriot Funding saying I’m pre-approved for a loan to consolidate my debts. I tried searching online but couldn’t find much about patriotfunding.com. Do any of you know anything about them or have any experience with them?

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I’m not sure what you decided, but this thread still shows up in Google searches for the company, so I wanted to share my experience. The company is legit and not a typical scam. However, they use bait and switch tactics. I got a mailer, called them, filled out an application, and was told I’d hear back in a day or two. The person I spoke with initially stopped responding, so I moved on.

Then, today, I got a call from Finance Solutions, who said they partner with Patriot Funding. After some research, I found they share the same office in New York. They told me my credit wasn’t good enough for a debt consolidation loan and that my debt-to-income ratio (DTI) was too high. But I already have an approval from another company and know my DTI is fine, having worked in credit for two years.

This wasn’t a rejection call, though; it was the switch. Instead of a traditional loan, they wanted me to pay them $xxx a month with no interest. They would hire lawyers to settle my debt, but they wouldn’t pay my creditors directly, and my credit would take a hit. I laughed and hung up. Avoid them unless you are really struggling to pay your bills.

Look for reviews or testimonials from other customers who have interacted with Patriot Funding. Be wary of fake reviews or overly positive testimonials that may be misleading.