Is a 321 loan really a loan?

But according to an alleged page from the Helping America Group sales manual the 321Financial loans are “disbursed directly to the Lender Approved Vendors” so it seems that it sounds like a loan since something of value is disbursed. And there is the issue of the consumer taking out a loan to pay for credit repair services.

Is the disbursement of a 321 loan a consumer liability?

If the 321Loan is disbursed to Breeze Financial as it says in the loan agreement, is your position that the disbursement of the loan to Breeze does not constitute a consumer liability and thus does not wander into the Credit Repair Organizations Act?

What does 321financial do?

Specifically, 321Financial assists consumers in obtaining the financing necessary to pay an associated vendor, to dispute, validate or litigate a given creditor account. 321Financial is not a debt management or debt settlement company, and does not provide legal advise or services to consumers.

How much interest does opploans charge?

Interest may make up more than 50% of the loan principal. OppLoans’ interest costs can make up more than half of what you borrowed. For example, if you borrow $1,000 at 150% APR with a nine-month repayment term, you’d repay $1,721 in total interest. This can happen when a lender charges high rates and offers long repayment terms on small loans.