Start My Answer

Tripoint Lending Reviews

Sarah Edwards | May 04, 2023

Summary: Tripoint Lending is known for sending letters in the mail advertising pre-approval for personal loans at low interest rates. However, Tripoint Lending isn’t an actual bank; it’s a brokerage. SoloSuit explains what you need to know about Tripoint Lending.

In the world of personal finance, there’s never a dull moment. There’s always a new strategy for encouraging people to borrow money, whether through payday loans, buy now, pay later “deals,” or seemingly innocuous debt consolidation loans with high interest rates.

Tripoint Lending offers a twist on personal credit through its position as a loan brokerage. The company regularly sends special pre-qualified financing letters to selected consumers, advertising sizable loans at low interest rates. However, people who take Tripoint Lending up on its offer don’t always get what they apply for.

Is a collection agency chasing you for a loan you obtained with help from Tripoint Lending? Use SoloSuit’s Debt Validation Letter to ask the agency to validate the debt.

Settle with SoloSettle

Make an Offer

How Tripoint Lending works

As a loan brokerage, Tripoint Lending doesn’t offer loans. Instead, it partners with various banks and other lenders, connecting them with consumers interested in obtaining credit.

Tripoint Lending acts as an intermediary. It handles the loan advertising and application process, but once the applicant accepts a loan or other deal, Tripoint Lending is no longer in the equation. Instead, the consumer becomes the customer of the lending partner or other entity.

Many consumers learn about Tripoint Lending from direct mailings. These direct mail offers advertise large loans at low rates, such as $20,000 at 5.99% APR. If the consumer decides to apply for the loan, Tripoint helps them complete an application, which it submits to its partners.

Once Tripoint Lending’s partners review the application, they’ll decide whether to extend credit according to the original terms or introduce new terms, like a lower credit line at a higher interest rate. In some cases, the consumer doesn’t receive any credit at all.

Tripoint Lending’s website says loans vary from $5,000 to $100,000, with APRs between 5.99% and 35.99%. To qualify for a loan, consumers must meet the following conditions:

  • Continue to meet the criteria for Tripoint’s pre-screened offer.
  • Have a credit report, credit history, and application that meets Tripoint’s pre-established credit criteria.
  • Have a monthly debt-to-income ratio of less than 50%.
  • Maintain current employment for at least one year.

People who don’t qualify for a loan may be offered other services, like debt relief or debt consolidation — which isn’t what they were calling about.

What the Better Business Bureau (BBB) says about Tripoint Lending

Tripoint Lending is proud of its Better Business Bureau accreditation rating of A+, which it displays on its website. However, as of April 28, 2023, seven customers have left complaints about the company, and there are numerous poor reviews.

Complaints about Tripoint Lending relate to unwanted phone calls and bait-and-switch offers. One customer received a pre-qualified offer through the mail and decided to apply for the loan. When he called and applied, he didn’t get a loan; instead, he received an offer for debt consolidation. He didn’t realize the loan was a debt consolidation offer until almost the end of the process.

Let’s consider an example.

Example: Hank receives an advertisement in the mail from Tripoint Lending. The ad says Hank is pre-qualified for a $20,000 loan at 5.99%. Hank’s a little surprised since he knows his credit score is hovering around 550. He decides to apply since he could use the loan to buy a new car. After calling Tripoint Lending, Hank doesn’t qualify for the loan. However, Tripoint says it has a partner who could settle his debts, giving him more discretionary income. Hank knows that debt settlement could harm his credit, and he’s steadily paying his bills. He refuses the offer and ends the call. Tripoint Lending continues to call him several times a week, to his annoyance.

It’s important to note that once you hand over your contact information to Tripoint Lending, you agree to accept marketing calls from the company. You’ll need to explicitly revoke your consent to stop receiving these calls. You should also consider signing up for the National Do Not Call Registry to control sales calls.

Be wary of applying for credit you don’t need

One of the reasons debt brokerages like Tripoint Lending are so successful is that they tap into the natural desire to have things. After all, who wouldn’t want an extra $20,000 to buy a car or remodel their kitchen?

However, it’s critical to maintain an objective outlook when it comes to your finances. Don’t apply for credit you don’t need, especially from an unfamiliar company. Instead, look for reputable loans from institutions you trust, like your bank or credit union.

Are you facing a debt lawsuit for an old credit card balance? Settle your debt today with the help of SoloSettle! Watch the following video to learn more about how debt settlement works:

What is SoloSuit?

SoloSuit makes it easy to fight debt collectors.

You can use SoloSuit to respond to a debt lawsuit, to send letters to collectors, and even to settle a debt.

SoloSuit's Answer service is a step-by-step web-app that asks you all the necessary questions to complete your Answer. Upon completion, we'll have an attorney review your document and we'll file it for you.

>>Read the FastCompany article: Debt Lawsuits Are Complicated: This Website Makes Them Simpler To Navigate

>>Read the NPR story on SoloSuit. (We can help you in all 50 states.)

How to answer a summons for debt collection in your state

Here's a list of guides for other states.

All 50 states.

Guides on how to beat every debt collector

Being sued by a different debt collector? Were making guides on how to beat each one.

We have answers

Join our community of over 40,000 people.

You can ask your questions on the SoloSuit forum and the community will help you out. Whether you need help now are are just look for support, we're here for you.

Get Started

Win against credit card companies

Is your credit card company suing you? Learn how you can beat each one.

Going to Court for Credit Card Debt — Key Tips

How to Negotiate Credit Card Debts

How to Settle a Credit Card Debt Lawsuit — Ultimate Guide

Get answers to these FAQs

Need more info on statutes of limitations? Read our 50-state guide.

Why do debt collectors block their phone numbers?

How long do debt collectors take to respond to debt validation letters?

What are the biggest debt collector companies in the US?

Is Zombie Debt Still a Problem in 2019?

SoloSuit FAQ

If a car is repossessed, do I still owe the debt?

Is Portfolio Recovery Associates Legit?

Is There a Judgment Against Me Without my Knowledge?

Should I File Bankruptcy Before or After a Judgment?

What is a default judgment?— What do I do?

Summoned to Court for Medical Bills — What Do I Do?

What Happens If Someone Sues You and You Have No Money?

What Happens If You Never Answer Debt Collectors?

What Happens When a Debt Is Sold to a Collection Agency

What is a Stipulated Judgment?

What is the Deadline for a Defendants Answer to Avoid a Default Judgment?

Can a Judgement Creditor Take my Car?

Can I Settle a Debt After Being Served?

Can I Stop Wage Garnishment?

Can You Appeal a Default Judgement?

Do I Need a Debt Collection Defense Attorney?

Do I Need a Payday Loans Lawyer?

Do student loans go away after 7 years? — Student Loan Debt Guide

Am I Responsible for My Spouses Medical Debt?

Should I Marry Someone With Debt?

Can a Debt Collector Leave a Voicemail?

How Does Debt Assignment Work?

What Happens If a Defendant Does Not Pay a Judgment?

How Does Debt Assignment Work?

Can You Serve Someone with a Collections Lawsuit at Their Work?

What Is a Warrant in Debt?

How Many Times Can a Judgment be Renewed in Oklahoma?

Can an Eviction Be Reversed?

Does Debt Consolidation Have Risks?

What Happens If You Avoid Getting Served Court Papers?

Does Student Debt Die With You?

Can Debt Collectors Call You at Work in Texas?

How Much Do You Have to Be in Debt to File for Chapter 7?

What Is the Statute of Limitations on Debt in Washington?

How Long Does a Judgment Last?

Can Private Disability Payments Be Garnished?

Can Debt Collectors Call From Local Numbers?

Does the Fair Credit Reporting Act Work in Florida?

The Truth: Should You Never Pay a Debt Collection Agency?

Should You Communicate with a Debt Collector in Writing or by Telephone?

Do I Need a Debt Negotiator?

What Happens After a Motion for Default Is Filed?

Can a Process Server Leave a Summons Taped to My Door?

Learn More With These Additional Resources:

Need help managing your finances? Check out these resources.

How to Make a Debt Validation Letter - The Ultimate Guide

How to Make a Motion to Compel Arbitration Without an Attorney

How to Stop Wage Garnishment — Everything You Need to Know

How to File an FDCPA Complaint Against Your Debt Collector (Ultimate Guide)

Defending Yourself in Court Against a Debt Collector

Tips on you can to file an FDCPA lawsuit against a debt collection agency

Advice on how to answer a summons for debt collection.

Effective strategies for how to get back on track after a debt lawsuit

New Hampshire Statute of Limitations on Debt

Sample Cease and Desist Letter Against Debt Collectors

The Ultimate Guide to Responding to a Debt Collection Lawsuit in Utah

West Virginia Statute of Limitations on Debt

What debt collectors cannot do — FDCPA explained

Defending Yourself in Court Against Debt Collector

How to Liquidate Debt

Arkansas Statute of Limitations on Debt

Youre Drowning in Debt — Heres How to Swim

Help! Im Being Sued by My Debt Collector

How to Make a Motion to Vacate Judgment

How to Answer Summons for Debt Collection in Vermont

North Dakota Statute of Limitations on Debt

ClearPoint Debt Management Review

Indiana Statute of Limitations on Debt

Oregon Eviction Laws - What They Say

CuraDebt Debt Settlement Review

How to Write a Re-Aging Debt Letter

How to Appear in Court by Phone

How to Use the Doctrine of Unclean Hands

Debt Consolidation in Eugene, Oregon

Summoned to Court for Medical Bills? What to Do Next

How to Make a Debt Settlement Agreement

Received a 3-Day Eviction Notice? Heres What to Do

How to Answer a Lawsuit for Debt Collection

Tips for Leaving the Country With Unpaid Credit Card Debt

Kansas Statute of Limitations on Debt Collection

How to File in Small Claims Court in Iowa

How to File a Civil Answer in Kings County Supreme Court

Roseland Associates Debt Consolidation Review

How to Stop a Garnishment

Debt Eraser Review

Do Debt Collectors Ever Give Up?

Can They Garnish Your Wages for Credit Card Debt?

How Often Do Credit Card Companies Sue for Non-Payment?

How Long Does a Judgement Last?

​​How Long Before a Creditor Can Garnish Wages?

How to Beat a Bill Collector in Court

Not sued yet?

Use our Debt Validation Letter.

Out Debt Validation Letter is the best way to respond to a collection letter. Many debt collectors will simply give up after receiving it.

Let's Do It

It only takes 15 minutes.

And 50% of our customers' cases have been dismissed in the past.

"Finding yourself on the wrong side of the law unexpectedly is kinda scary. I started researching on YouTube and found SoloSuit's channel. The videos were so helpful, easy to understand and encouraging. When I reached out to SoloSuit they were on it. Very professional, impeccably prompt. Thanks for the service!" - Heather

Get Started