Choosesimplepath.com is an online lender owned and operated by Simple Path Financial.
The website does not have About Us or Contact Us pages.
Simple Path Financial has been accredited by BBB since May 6, 2017. There are a mixture of 1- and 5-star reviews. The negative customer reviews range from identity theft accusations to false information provided by the company. One complaint claimed Simple Path Financial was a “debt consolidation company” but when asked denied the allegation. In the response, the company did not mention the allegations but denied sending the customer a “pre-approval letter.”
Tony T. Filed a BBB complaint against Simple Path, claiming his personal information was breached during a phone call.
JM alleged the company’s 5-star BBB reviews were fake. Jennifer K claimed the company encouraged her to fault on her debt. The company denied the allegations while humiliating the customer saying she was sent a “decline letter.”
Several BBB complaints were regarding pre-approval letters, which were determined to be nothing more than a publicity gimmick. All of the customers claimed they were denied a loan even though they were pre-approved.
The company’s BBB page shows the address 16842 Von Karman Ave, Ste 200, Irvine, CA 92606. A business search via the California Secretary of State website shows the filing as active. The company has been registered as a Limited Liability Company since August 1, 2016.
Afterword – Choosesimplepath.com Scam
Simple Path Financial is a California-registered LLC. The company’s BBB 4.58-rating is propped up by suspicious 5-star reviews. Like JM wrote in his BBB review (copy provided below), the 5-star reviews are a bit fishy. It does appear the company follows a pattern, following up a 1-star review with one or more 5-star reviews. This very well could be an attempt to maintain a high BBB rating.
Several of the BBB complaints alleged having their identity stolen after a brief phone call with the company. There is no information to support these allegations but the numerous similar complaints are difficult to ignore.
The company reaches out to consumers via a snail mail letter. Several complaints alleged the letter was a “pre-approval” notice, which the company denied in its BBB responses.
Is Choose Simple Path a scam? It does not appear to be a scam. But, it seems the company does utilize deceptive business practices to entice consumers to apply for loans. What the company does with the data collected through its loan approval process is questionable.