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Panther Lending Review

I remember watching the news about the Morgan Drexen case and listening to the victims, most of them were poor and uneducated, seeking a way out of their financial difficulties. Many of them were living and dreaming about a much-deserved humble life.

Debt consolidation loan scams are nothing new, but they don’t seem to go away, nor does the hope of people in need. With evolving technology, scammers can spread into larger areas in shorter times. Panther Lending is a scam that preys on people when they are at their weakest. Be cautious about any company that comes with offers that seem too good to be true and pressures you to take their services.

Even though we don’t know the full extent of the Panther Lending scam, let’s check the customer reviews and try to understand how people are drawn into this mess.

Panther Lending Overview

  1. Nature of Panther Lending: Panther Lending claimed to offer debt consolidation loans to help individuals manage and pay off high-interest credit card debt. However, it was identified as a scam, not providing loans or debt consolidation programs, and instead functioned as a marketing company promoting programs for other companies.
  2. Misleading Practices: Panther Lending marketed itself through mailers suggesting prequalification for debt consolidation loans, but consumers were often redirected to different companies offering debt consolidation programs that could involve settling accounts after letting them fall behind.
  3. Lack of Legitimacy: The Better Business Bureau (BBB) alerted that Panther Lending is not a registered corporation in Michigan, failed to respond to BBB requests, and lacked transparency regarding its physical address and contact information.
  4. Debt Consolidation Loans: The article explains that debt consolidation loans are financial products that combine multiple debts into a single loan with a lower interest rate and more manageable monthly payments, intended to simplify the debt repayment process.
  5. Debt Consolidation Scams: It warns about scams that target people in debt, using tactics such as upfront fees, high-pressure sales, fake companies, and misleading information to exploit consumers.
  6. How Panther Lending Scam Works: The scam involved offering too-good-to-be-true consolidation loans, denying the application, and then redirecting consumers to a debt consolidation program with a different company. High-pressure tactics were used to push additional services and fees.
  7. Customer Reviews: Reviews reveal dissatisfaction with misleading advertising, bait-and-switch tactics, lack of transparency, high-pressure sales, negative impact on credit scores, and difficulty removing personal information from mailing lists.
panther lending review website

What is Panther Lending?

Panther Lending is a company based in Bloomfield Hills, Michigan, that claims to offer debt consolidation loans to help individuals manage and pay off high-interest credit card debt. But, the reality is that Panther Lending is just a scam. The company claimed to simplify the debt repayment process by combining multiple debts into a single loan with a lower interest rate, resulting in a single monthly payment. Panther Lending also claimed to provide personalized solutions based on the individual’s financial situation, with the goal of reducing the total interest paid and potentially lowering monthly payments.

However, Panther Lending’s practices were not legitimate, and the company no longer continues its operations. Debt consolidation scams are nothing new, but Panther Lending was reported as not providing loans or debt consolidation programs. Instead, it functioned as a marketing company that promoted debt consolidation programs for other companies.

This led to confusion among consumers. Panther Lending marketed itself by sending mailers. People who received mailers from Panther Lending suggesting they prequalify for a debt consolidation loan were directed to a different company offering a debt consolidation program, which could involve letting accounts go behind and settling those accounts.

Additionally, the Better Business Bureau (BBB) issued an alert stating that Panther Lending is not a registered corporation in the State of Michigan and that the company has failed to respond to BBB requests for information. The BBB also noted that Panther Lending’s website does not disclose a physical address for the business, and mail to their PO Box was returned undeliverable. Calls to the listed phone numbers on Panther Lending website were answered by a call center that receives calls for many debt relief lead generators. The Panther Lending scam no longer works, but the people behind this scam and the damage they’ve caused are yet to be defined.

While Panther Lending positioned itself as a provider of debt consolidation loans, there are significant concerns about its legitimacy, transparency, and business practices. If you have been in contact with Panther Lending, please respond to authorities.

panther lending scam

What is Debt Consolidation Loans?

Debt consolidation loans are a type of financial product that allows individuals to combine multiple debts into a single loan with a lower interest rate and more manageable monthly payments.

The idea behind these loans is to simplify the debt repayment process by combining various debts, such as credit card balances, medical bills, or personal loans, into one loan with a fixed interest rate and a set repayment term.

It might sound like usury, and it is somehow very similar, but the idea is that by consolidating debts into a single loan, borrowers can potentially reduce the total amount of interest they pay over time and optimize their finances by making just one monthly payment. It is more manageable than making multiple payments to different creditors and could be beneficial since you’ll have a fixed interest rate for a given time, making it helpful if you are living between paychecks. Debt consolidation loans make the debt more manageable and potentially help pay it off faster.

It is crucial to consider your financial situation, including your credit score, income, and the total amount of debt you have, before deciding on a debt consolidation loan. It’s also important to do your research and compare offers from multiple lenders to ensure you get the best terms and interest rate possible.

Let’s go through with an example:

Let’s say that you are a teacher, and things haven’t been going very well lately. You had to make a few unexpected expenses and ended up juggling multiple credit card debts. You had balances on three different cards with high-interest rates.

  • Credit Card 1: $5,000 at 18% interest
  • Credit Card 2: $3,000 at 20% interest
  • Credit Card 3: $2,000 at 22% interest

Each month, you struggled to keep up with the varying due dates and minimum payments, feeling like you are barely making a dent in your debt.

In this exact situation, debt consolidation loans come to the rescue. They allow you to combine all your high-interest debts into a single loan with a lower interest rate.

Let’s say that you applied for a debt consolidation loan and was approved for a $10,000 loan with a 12% interest rate and a 5-year term and you used the loan to pay off all your credit card balances.

With your debts consolidated, you’ll now have just one monthly payment of $222.44, instead of the total $600 you were paying across three cards.

Debt Consolidation Scams

Debt consolidation scams are well-known fraudulent schemes that target people who are in debt and desperate. These scams can take various forms, but they typically involve companies or individuals who offer debt consolidation services that seem too good to be true. In a state of desperation, it’s easier to scam people.

Methods of Debt Consolidation Scams

Take the Upfront Free and Flee Away

Scammer promise to consolidate your debts into a single loan with a low interest rate but then require a large upfront fee before providing any services. Once the fee is paid, the company disappears.

Apex Processing Center: This company faced action for charging students seeking debt relief with junk fees upfront without providing the promised debt relief services​.

apex lending logo

Pressure and Force Mistake

Scammers might come at you with utilizing high pressure sales tactics to rush you into making a decisions without fully understanding the terms and conditions. They might claim that their offer is only available for a limited time to create a sense of urgency.

Arete Financial Group: The company was accused of using high-pressure sales tactics to enroll consumers in debt relief programs that promised more than they delivered.

arete financial group

Fake Companies

Scammers create fake companies that appear legitimate. This may come as a professional-looking website, false references, testimonials and customer reviews.

False Information

Scammers might provide misleading information about the terms of the consolidation loan, such as hiding fees or not disclosing the true interest rate. They may also exaggerate the potential savings or benefits of the loan.

American Financial Benefits Center: The company was part of a scheme that misled consumers about the benefits of its student loan debt relief services​.

Phishing or Identity Theft

In some cases, scammers might use debt consolidation offers as a way to collect personal and financial information for identity theft or fraud. They may ask for sensitive details like your Social Security number, bank account information, or credit card numbers.

For more information on avoiding debt consolidation scams, you can visit the Federal Trade Commission’s website or the Consumer Financial Protection Bureau’s website.

How Panther Lending Scam Works

I’ve mentioned how Panther Lending uses mailers to market their services. If Panther Lending sent you a mailer offering a consolidation loan at a 4.99% interest rate, you’re on the hook. One particular aspect of many scams is that they usually offer benefits that are too good to be true. Panther Lending does exactly the same thing.

Based on the Panther Lending reviews, I have gathered what customers have experienced:

  1. You receive a document (a highly advantageous offer) with a table comparing current credit card debt details to a new consolidation loan offer, indicating that by consolidating, you might be eligible for an additional $10,000 while also reducing your monthly payments.
  2. The document likely gave two options for applying: online through using a personal invitation code or by phone at 800-628-5417.
  3. And then what happens when you apply for the loan? It gets denied.
  4. It’s not over, it’s just a part of the process. You’ll receive news on being qualified for debt consolidation with Clear Creek Legal, a company that offers debt consolidation programs.
  5. They force people by using high-pressure selling tactics to purchase more services, even those who are already in the system. These services often turn out to be nothing more than fees and upfront payments.
  6. Panther Lending does not provide essential information, such as their SCC number, registration status, and physical address. This lack of transparency raises questions about their legitimacy.
  7. Like any other scammer, Panther Lending loves to push people. People were frustrated with receiving unsolicited mail and calls from Panther Lending, even after attempting to remove themselves from the company’s contact lists.
panther lending customer reviews
panther lending reviews

Panther Lending Customer Reviews

The reviews of Panther Lending reveal a how this scam works. People who have been in contact with Panther Lending express dissatisfaction and concerns about the company’s practices.

  1. Misleading Advertising: Many customers have complained about misleading advertising, particularly regarding low-interest rates for debt consolidation loans that seem too good to be true. When consumers reach out to inquire, they often find that the actual rates and terms are less favorable than initially advertised.
  2. Bait-and-Switch Tactics: There are allegations of bait-and-switch tactics, where consumers are drawn in with the promise of a debt consolidation loan but are then steered towards credit counseling or debt restructuring programs. In these cases, they are often asked for upfront payments and additional costs.
  3. Lack of Transparency: Several reviews mention a lack of transparency regarding the company’s credentials, such as their SCC number, registration status, and physical address.
  4. High-Pressure Sales Tactics: Some consumers report feeling pressured by aggressive sales tactics to accept services that they do not want or need.
  5. Negative Impact on Credit Scores: There are reports of consumers being advised to stop using their accounts and not pay their debts as part of a debt restructuring program. This practice has damaged their credit scores.
  6. Difficulty Removing Personal Information: A few reviewers have expressed frustration at being unable to remove their information from Panther Lending’s mailing list, leading to continued unwanted solicitation.


Panther Lending is a company that pretend to provide debt consolidation loans, a type of financial service intended to help individuals manage their debt by combining multiple high-interest debts into a single loan with a lower interest rate.

This consolidation aims to simplify monthly payments and reduce the overall interest paid over time. However, customer reviews and complaints have raised significant concerns about Panther Lending’s operations.

These reviews indicate that the company may engage in misleading advertising, promising low-interest rates that are not available in reality. Additionally, consumers have reported bait-and-switch tactics, where they were initially promised a debt consolidation loan but were then pressured into different services, such as credit counseling or debt restructuring programs, often accompanied by upfront fees and additional costs.

The lack of transparency regarding the company’s credentials and business practices is a serious concern. Reviews also indicate difficulty in obtaining clear information about the company’s registration status, physical address, and the terms of their services.

High-pressure sales tactics have been reported, with consumers feeling pressured to accept services they neither wanted nor needed. Also, there are complaints about the difficulty in removing personal information from Panther Lending’s mailing lists.

In conclusion, customer reviews of Panther Lending consistently point to misleading advertising, high-pressure tactics, and a lack of transparency. Customers are dissatisfied with how they have been treated, and caution is advised.

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