A home is a significant financial asset that usually only grows in value over the years; many people who do own one overlook the fact that they technically have thousands of dollars of equity in a non-liquid form. Alpine Credit works to help you tap into the hidden value you might have sitting right under your feet.
About Alpine Credit
Alpine Credit has been helping customers with their financial needs since 1969, although they have obviously not been doing so online for that entire stretch of time. They work mainly with people who do not make conventionally attractive credit prospects on paper, helping them to get access to money and improve their ability to get other kinds of credit in the future. They may not be the first choice of people who have many other options, but for those who will be accepted by this company and no one else, they can be extremely helpful.
We must make clear before going any further with this Alpine Credit company review that they are only able to work with people who own some kind of real estate property. They refer customers who are not homeowners but who still need help with their credit to their sister company, Full Circle Debt Solutions. They also only work inside the borders of British Columbia, Ontario and Alberta, so be sure to keep that in mind if you’re thinking about doing business with them.
You can’t have an Alpine Credit company review without starting off with their featured product, home equity loans. Not all loan companies, especially online ones, offer this type of loan, and Alpine prides itself on making this type of borrowing accessible to almost anyone. Even if you are retired or a student, have bad credit, are struggling to establish a healthy income, or any other financial disadvantage, you may be able to get a loan with this company. The catch, of course, is that you have to have an asset (a home in this case) to use as collateral in order to prove yourself a worthy risk.
Luckily, there are millions of homeowners from all walks of life across Canada, and all of them are potentially eligible to receive a loan from Alpine Credit. By asking the client to grant them a temporary ownership stake in their property, Alpine is able to offer large personal loans (up to $35,000 in some cases) to applicants who might otherwise have a hard time getting anyone to approve them for any kind of credit. This makes all kinds of things possible for the borrowers that would otherwise be out of reach; some of the few included in Alpine’s website copy include making home renovations, paying off tax debt, going back to school, or starting up a small business.
However, taking this kind of loan requires that you risk potentially losing your home should you fail to pay back the full amount on time. This is a scary prospect for most clients, but it’s a necessary concession in order to back up your implicit assertion that you can be trusted to pay back the money you will owe once you take your loan. If you succeed in doing this, you’ll have nothing to fear.
What Customers Think
Alpine Credit has a moderately positive reputation among loan seekers, and you can see it in some of the reviews posted online. People generally speak well of the company and what their loans allows them to do. One nice thing that likely helps people to feel more secure trusting this company is its long history. The fact that they have been operating for nearly 50 years now without being shut down or losing too many customers to keep going strongly implies that they must have things figured out.
As always, there are some complaints floating around out there, but none of them have to do with any dishonesty on the company’s part. Some people have run into trouble with this company when it comes to being able to repay the loans they take. Because of the large size of most of the loans and the lack of much emphasis placed on income in the application process, it isn’t difficult for people to become overextended economically. As mentioned above in this Alpine Credit company review, this can be even more disastrous with this type of loan than most. Some customers have gone on to have financial difficulties to such an extent that they may never recover from them.
It’s unfortunate to have to mention this when even those customers emphasize that it is not actually Alpine Credit’s fault that these things happened, but it’s a necessary part of a comprehensive Alpine Credit company review. Not all borrowers will have these problems, though, and most can be avoided by giving the decision to borrow a lot of careful thought and weighing the pros and cons of doing so. Applicants should use their own personal judgement to determine whether or not these criticisms are likely to be relevant to them.
What We Think
We’ll end this Alpine Credit company review with a tepid recommendation, but also a warning to our readers. There is absolutely nothing to suggest that Alpine Credit itself is dishonest or trying to swindle you, but that doesn’t mean there is no risk to taking one of these loans. These types of loans (meaning home equity loans specifically) can lead to some trouble regardless of how trustworthy the company providing them might be. With such easy access to so much money, many people find themselves unable to handle the responsibility of this type of borrowing and end up with major financial difficulties.
While Alpine Credit is perfectly safe to use in terms of securely adhering to the terms you both agreed to, we would still caution potential applicants against committing to anything too hastily. Before you choose to apply for a loan with this company, make sure that you have a solid plan for paying the full loan amount back so that you don’t put your assets in jeopardy. Otherwise, you may very well end up deeply regretting your decision.