Benefits explained

• Possibility of applying with a co-borrower – Applicants who may not have sufficient income or a credit rating can apply with someone else to increase their chances of being approved.
• Possibility of receiving individual assistance – Once you have completed the initial online application form, you will chat with a loan advisor, who will walk you through your loan options and answer all of your questions.
• No early repayment penalty – Freedom Plus will not charge you any fees if you decide to make additional payments or prepay your loan.

Disadvantages Explained

• Invoice origination fees – Borrowers could pay up to 4.99% on top of their interest rate. This original fee will be added to the final APR.
• High minimum loan amount – At $ 7,500, this amount could be high for those who do not need a personal loan. In addition, residents of certain states may be required to purchase a larger amount.
• Must work with lending partners in some states – In some states, such as California, residents can work directly with Freedom Plus. In other states, residents should be referred to lending partners, although it is not clear who they are.

Types of personal loans offered by Liberty Plus

Freedom Plus personal loans are available for many purposes, including financing a wedding, car repairs, moving expenses, home improvement projects, medical bills, debt consolidation, and other types of issues. ‘major purchases.

Deadline for receipt of funds

The lender can approve your loan the same day you apply, and you will receive your loan proceeds within 48 hours of approval.

Characteristics of the Liberty Plus personal loan

Apply with a co-applicant

Liberty Plus allows co-applicants for personal loans. Having one can help increase your chances of getting approved for a loan, especially if you don’t meet certain conditions due to your credit rating, income, or other financial factors.

Custom options available

Freedom Plus allows applicants to complete a simple application form and speak to a loan advisor, who will work with them to determine the rates and terms available based on their financial information.

Apply for a Liberty Plus personal loan

Freedom Plus requires applicants to complete a short form so they can verify what they are eligible for. A credit counselor will speak to you over the phone to complete the application process. Here’s what to expect:

1. Indicate how much you want to borrow in the Freedom Plus online application form.
2. Indicate how you plan to use the personal loan and in what state you reside.
3. Fill in the personal information, such as your full name, email address and phone number. You will need to agree to Freedom Plus or its lending partners to contact you by phone.
4. Wait for a credit counselor to contact you to continue the application process or call 800-368-0061 to speak with one of them.
5. Consult loan offers and follow the instructions to complete the application process. This may include providing supporting documents and / or your co-applicant’s personal information.

Once Freedom Plus approves your loan and you sign your loan documents, the company will send you the funds within 48 hours.

Can you refinance a personal loan with Freedom Plus?

Freedom Plus does not allow refinancing for personal loans.

Methodology

Investopedia is committed to providing consumers with unbiased and comprehensive reviews of personal lenders. We’ve collected over 25 data points from over 50 lenders, including interest rates, fees, loan amounts, and repayment terms, to make sure our content helps users get it right. borrowing decision for their needs.