Did You Get a Letter from ClearPath Financial Network? Here's What It Means
Updated: 5 days ago
If you received a letter in the mail from ClearPath Financial Network, you're probably wondering whether it's real and whether it's worth a call. Yes, it's real. Here's what the letter is, why you got it and how to check your options without any pressure.
Who Is ClearPath Financial Network?
ClearPath Financial Network offers fixed-rate personal loans and home improvement loans from $10,000. ClearPath is the lender: we review your information and show you the rate, fees and terms you qualify for before you accept anything.
Why Did You Receive This Letter?
The letter is a prescreened offer of credit. Information in your credit report was used to see whether you met certain general criteria set in advance, which is the same way many banks and card issuers send prescreened offers. It does not mean you're approved; final approval depends on a full application, income verification and our credit review.
You can choose to stop receiving prescreened offers like this from all companies by calling 1-888-5-OPT-OUT (1-888-567-8688) or visiting optoutprescreen.com.
What Kind of Loan Is It?
The loans we offer are unsecured installment loans. That means:
Loan amounts from $10,000, with terms from 1 to 7 years
A fixed interest rate and one fixed monthly payment for the life of the loan
A set payoff date, so you know exactly when you'll be done
No home equity, appraisal or collateral required
People use them for home projects, medical bills, a major purchase or any large expense they'd rather pay off over time at a fixed rate.
How Does It Work?
Call the number on your letter or check your rate online. You'll share a few basics, like how much you'd like to borrow and your income. Checking your rate uses a soft credit inquiry, which does not affect your credit score. If you like an offer and choose to move forward, we'll do a full review, which may include a hard inquiry, before funding the loan.
Frequently Asked Questions
Is this a scam?
No. Prescreened offers are a normal, regulated way lenders reach people. We will never ask for an upfront payment to check your rate, and we will never ask for your bank login or passwords. If anyone does, hang up.
Will checking my rate affect my credit score?
No. Checking your rate is a soft inquiry. A hard inquiry only happens if you accept an offer and we move forward with your application.
Are there any fees?
Checking your rate is free and there's no obligation. Some loans include an origination fee, which is shown clearly in your offer, along with your APR and monthly payment, before you agree to anything.
What if I don't qualify?
Not everyone who receives a letter will qualify for a loan, and that's okay. Checking costs nothing and won't hurt your credit, so you'll simply know where you stand.
Ready to See Your Options?
If you got a letter from us, you can check your rate online in about 60 seconds or call us at (929) 399-0243. There's no cost and no obligation.
Rates range from 5.40% to 35.36% APR. Rates, terms and availability vary by state and credit profile. All loans are subject to credit approval.
