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#21
american_financial_solutions

American Financial Solutions Reviews

Reviews of American Financial Solutions from real customers
(0 verified)

Our Score
3.2
User Score
--

See Top Rated

Our Score
3.2
User Score
--
Rank this Company

Ratings Breakdown

Price

monthly price range
Undisclosed

Up-Front Fees

setup & activation fees
Undisclosed

Free Consultation

is one included?
Yes

Credit Counseling

do they offer credit counseling services?
Yes

Certified Counselors

are there certified counselors on staff?
Yes

ISO Certified

is this business ISO certified?
No

Number of Reviews

User reviews here on BDC
0

Overall Score

Based on ranking criteria
3.2 /10

Consolidated Credit

Compared to industry leader
9.3 /10

This Review is maintained by Chase Sagum

Review Last Updated: November 15, 2018

Since 1999, American Financial Solutions has helped over 250,000 people pay off over $42 billion in debt. The company’s debt management and consolidation plans are accredited, as well as its debt counselors. Additionally, American Financial is accredited by the National Foundation for Credit Counseling.

Rank Chart
Monthly Price
Accreditations
Review

#1

Up to $69
FCAA & ISO

#2

$10-$40
AFCC & IAPDA

#3

$10 - $49
ISO

#21
american_financial_solutions

Undisclosed
NFCC

The Good

  • Accredited by NFCC
  • Free counseling with certified counselors
  • Many different services provided

Industry Experience and Accreditations

As previously mentioned, American Financial Solutions has helped thousands of clients pay off billions of dollars in debt over the course of the past 18 years. To back up their industry experience, American Financial is accredited by the NFCC, ensuring that the company’s credit counselors implement best industry practices.

Great Services

The company offers many different services which include: credit counseling, debt management, housing counseling, and pre and post-bankruptcy counseling. Consumers can also take advantage of a free credit counseling session which typically lasts an hour. After the initial assessment, a certified credit counselor will provide options to help consumers realize their financial goals. Within the list of options, the company offers a debt management plan which will consolidate monthly payments into one affordable monthly installment.

Because American Financial is not a credit consolidation company, clients are not required to take out a debt payoff loan. Instead, the company works directly with each client to uncover the best solution to resolve creditor debt. Tools have been designed to help consumers under the unbearable weight of unsecured debt such as credit cards, department store cards, medical bills, and other unsecured types of debt.

Best Debt Consolidation Companies

The Bad

  • No average interest rate
  • Company size
  • Undisclosed pricing

No Average Interest Rate Visible

Debt consolidation companies typically have existing relationships with most major credit card companies and other major lending institutions. When you sign up with one of these companies, you should be able to lower the annual percentage rate on what you owe. American Financial Solutions promises to get you a better rate but does not say how much better. We would prefer that American Financial be a little more transparent about what rates it can secure for its customers.

Undisclosed Pricing

At this time American Financial Solutions does not offer pricing information on their website at this time. This can make it difficult for potential customers to make a decision on which company to work with. It also makes it challenging for us to rank and compare the company to others in the industry.

Company Size

American Financial Solutions is a little small compared to other top companies. AFS employs less than 50 people compared to the 200-500 people employed by Consolidated Credit. Having more employees allows a company like Consolidated Credit to take on more projects and clients.

Want to See the Top-Ranked Debt Consolidation Companies?

The Bottom Line

American Financial Services is on great terms with its customers. The company also offers a number of great services at relatively low cost to help consumers manage their debt. One of the big things we didn’t like is that the company is not transparent about what interest rates it can secure for customers or exactly how low the monthly fees can be. With that being said, we feel that the free consultation is worth your time if you want to get some information about what credit counseling can do for you.

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About American Financial Solutions

American Financial Solutions provides actual debt consolidation through provides credit counseling and debt management plans for their customers. American Financial Solutions debt management plans allow customers to consolidate their bills into one monthly payment, while also lowering the overall interest rate on that debt without having to apply for a loan. For one customer, American Financial Solutions was able to help a customer pay off $123,000 of unsecured consumer debt in four years. American Financial Solutions also offers counseling services for credit, housing, and bankruptcy. The company offers free financial education classes, which includes eight chapters of educational material on borrowing, investing, and budgeting.

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  • Takes your existing debt and try to settle with your creditors for a lower amount. If you pay off the settled amount, your debt will be considered paid in full.
  • Negotiates with your creditors on your behalf.
  • Fee based on a percentage of your total starting debt or a percentage of the debt they save you.
  • Most settlement companies have you create a separate "escrow" account where you will make monthly contributions over a certain amount of time to contribute to your settlement. Once there is a substantial amount of funds to show your creditors, the settlement company will try to negotiate a lower amount of debt.
  • Combines all your debts and creditors into one monthly payment.
  • Allows you to pay one monthly payment to the consolidation company, instead of multiple payments to different creditors.
  • You no longer owe your original creditors; instead you pay one monthly payment to your consolidation company.
  • Consolidation companies can help negotiate lower interest rates on your debts and help lower your total debt payment in the long run. A lower interest rate will lower the amount you owe in the end.
  • Allows you to consolidate all your different debts into one personal loan that can be paid off over time.
  • Can offer borrowers a lower interest rate with a longer payback term (compared to high-interest credit cards or medical bills). This will lower the amount of money required to pay off the loan over time.
  • Personal loan debt consolidation can be an effective way to raise your credit score quickly (within 3-6 months).
  • Borrowers can receive funds from their loan within only a few days.

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Our Score
3.2
User Score
--
Rank this Company

Ratings Breakdown

Price

monthly price range
Undisclosed

Up-Front Fees

setup & activation fees
Undisclosed

Free Consultation

is one included?
Yes

Credit Counseling

do they offer credit counseling services?
Yes

Certified Counselors

are there certified counselors on staff?
Yes

ISO Certified

is this business ISO certified?
No

Number of Reviews

User reviews here on BDC
0

Overall Score

Based on ranking criteria
3.2 /10

Consolidated Credit

Compared to industry leader
9.3 /10
Our Score
9.3
User Score
9.4
Rank this Company

Ratings Breakdown

Price

monthly price range
Up to $69

Up-Front Fees

setup & activation fees
Up to $49

Free Consultation

is one included?
Yes

Credit Counseling

do they offer credit counseling services?
Yes

Certified Counselors

are there certified counselors on staff?
Yes

ISO Certified

is this business ISO certified?
Yes

Number of Reviews

User reviews here on BDC
424

Overall Score

Based on ranking criteria
9.3 /10