Reach Financial Review: Should You Accept Their Loan Offer?
If you’ve received a personal loan offer from Reach Financial, you’re probably wondering: Is this a good idea? Is Reach Financial legit? And most importantly—should I take their loan?
Let’s unpack everything you need to know about Reach Financial, its connection to National Debt Relief, and how to evaluate whether their debt consolidation loan is right for you.
What Is Reach Financial?
Reach Financial is a personal loan company that was previously known as Liberty Lending. It is closely connected—both operationally and legally—to National Debt Relief, one of the largest debt settlement companies in the country.
In fact, if you’re already enrolled in a debt settlement plan with National Debt Relief, there’s a good chance your offer from Reach Financial is a targeted promotion. These companies often operate out of the same building and share client data to find consumers who might be candidates for debt consolidation.
Why Did Reach Financial Offer You a Loan?
Reach Financial often extends personal loan offers to consumers who are already in a debt settlement plan. If you’ve been making consistent payments on your settlement plan, Reach may see you as a responsible borrower. Their goal? To convert you from a lower-profit debt settlement customer into a paying loan customer—one who pays them interest instead of another lender.
It may sound a little shady, but it’s not necessarily a bad move for you. A loan could help you:
- Rebuild your credit
- Simplify your monthly payments
- Get out of debt faster (if the rate and terms are favorable)
What Loan Terms Does Reach Financial Offer?
Reach Financial offers unsecured personal loans between $3,500 and $40,000, mostly aimed at debt consolidation. They may even pay your creditors directly, which is convenient—but also suggests they’re not keen on offering funds for general-purpose spending.
Key Terms to Know:
- APR Range: 5.99% to 35.99%
- Origination Fee: Up to 8%
- Loan Term: Typically 3 to 5 years
- Late Fee: $15
- NSF Fee: $25 (if your payment bounces)
Important: While 5.99% may be advertised, it’s extremely unlikely. In today’s high-interest rate environment, most consumers will qualify for rates starting around 13% or higher.
Pros of a Reach Financial Loan
✅ Convenience: They can pay your creditors directly, and their dashboard makes it easy to manage payments.
✅ Improve Your Credit: Replacing delinquent or settled debt with a new loan (paid on time) can improve your score.
✅ Fixed Monthly Payments: No more juggling multiple creditors.
✅ Soft Credit Pull: Prequalifying won’t hurt your credit score.
Cons of a Reach Financial Loan
❌ High Interest Rates: If you don’t have excellent credit, your APR could be close to the 35.99% limit.
❌ Origination Fees: Up to 8% of the loan amount—non-refundable even if you pay the loan off early.
❌ Potential for More Debt: Consolidating without changing spending habits can lead to more financial strain.
How to Know If You’re Getting a Good Deal
Before you accept any loan, compare multiple offers. You should be looking for:
- A lower APR than your current debts (at least 2–3% lower)
- No hidden fees
- A loan term that works for your payoff goals
Also, evaluate whether the total cost of the loan (interest + fees) is actually less than what you’d pay if you just continued making payments on your existing debts.
How Reach Financial Loans Compares to Other Lenders
Reach Financial isn’t the only game in town. Other debt consolidation lenders to consider include:
Some offer lower origination fees, wider usage for funds, or better APRs depending on your credit profile.
Smart Tip: Increase Your Autopay Amount
If you take a loan from Reach—or any lender—the fastest way to get out of debt is to increase your automatic payment, even if it’s just $20/month. This reduces interest over time and shortens your loan term. You can also make one-time principal-only payments (scheduled on your payment date) to avoid prepaying future installments.
Final Verdict: Is Reach Financial Worth It?
Reach Financial can be a solid debt consolidation option—but only if the offer is better than your current repayment plan.
✔️ If you qualify for a low APR,
✔️ don’t mind the origination fee,
✔️ and plan to stay on top of your payments,
then it might help you rebuild credit and save money.
But if they offer a high APR or large fee, you might be better off sticking with your current debt strategy or shopping for alternatives.
Use The Yukon Project to Compare Offers—Fast
At The Yukon Project, we help you compare personal loan offers from up to 40 lenders—using a soft credit checkthat won’t impact your score. Just enter your loan amount, purpose, and credit score range, and we’ll show you your prequalified offers in one dashboard.
Compare offers now → [Insert Link]
Have You Taken a Reach Financial Loan?
Drop a comment and share your experience—did the loan help? Was the interest rate fair? Your story could help others make a better financial decision.
