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LowerMyBills.com
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#28
LowerMyBills.com

LowerMyBills.com

Lowermybills.com does not fulfill any service in-house but gives personal information to third party contributors.

Our Score
1.4
User Score
--

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Our Score
1.4
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

Time in Business

total # of years
18 years

Credit Counseling

do they offer credit counseling services?
No

Certified Credit Counselors

are there certified counselors on staff?
No

ISO Certified

is this business ISO certified?
No

Number of Reviews

User reviews here on BDC
0

This Review is maintained by Chase Sagum

Review Last Updated: January 4, 2017

LowerMyBills.com seeks to help consumers compare monthly bills and reduce living costs. The company claims to be able to reduce borrower interest rates by 30 percent. LowerMyBills.com was established in 1999, and was bought by Experian in 2005. They offer many industries to choose from along with debt consolidation. As a note of caution, many consumers have claimed that the company saves personal information whether you submit it or not.

Rank Chart
Monthly Price
Accreditations
Review

#1

Up to $69
FCAA & ISO

#2

$10-$40
AFCC & IAPDA

#3

$10 - $49
ISO

#28
LowerMyBills.com

Undisclosed
None

The Good

  • Single platform to compare rates
  • Funding in as little as three days
  • Matching service

Comparison Platform

As a comparison platform, it’s impressive that Lower My Bills has been in business for 17 years, especially having been under fire in recent lawsuits. The company’s free services work by enabling consumers to be matched up with companies that can meet their unique needs over a broad-spectrum of financial aspects. Services include:

  • Refinance
  • Home purchase
  • Reverse mortgage
  • Auto & Life insurance
  • Auto loans
  • Solar energy connection
  • Personal loans

Matching Service

The basis of this review will be under their personal loan services which may help indebted consumers find a solid match for consolidation needs. By clicking on the Personal Loan button on the company home page, consumers will be directed to a page providing general information about how the company can be of assistance. Lower My Bills works with partners offering rates as low as 5.50 percent APR, although the best rates are reserved for those seeking a one-year term and who also have excellent credit scores and history, among other determining factors.

View Top Rated Companies

The Bad

  • Information is taken regardless if submitted
  • No credit counseling
  • No accreditations

Information is Saved

Initially we believed this site to be a credible source for comparing rates and lenders; however, upon closer look, we found that during the comparison process, personal information entered into each field is saved regardless of whether or not the application was submitted. This is very troubling, as a customer at any point could change their mind and not hit submit, but still have their information taken.

Lack of Education or Counseling

On top of personal information practically being stolen, this company does little to educate consumers concerning finances. It seems their sole operation is to get personal information to sell to third-party contributors, rather than to provide any sort of real assistance to those under the crushing weight of credit card or other unsecured debt.

Want to see the top rated Debt Consolidation Companies? Click Here

The Bottom Line

Since LowerMyBills.com only compares companies and does not provide any consolidation services, this company may not benefit anyone on the hunt for a solid consolidation company. Because they don’t actually offer loans, they lack federally backed and nationally recognized accreditations associated with consolidation companies. If you want guidance on which company to help consolidate your debts, they may be able to help. Just be cautioned that your information may be sold and prepare to be contacted by a swarm of different providers. We do not recommend working with LowerMyBills.com at this time.

We would recommend looking at some of our top rated companies instead.


About LowerMyBills.com

LowerMyBills.com offers an array of free online services for customers to find third party resources to achieving financial information. It offers services for refinancing, home purchase, auto insurance, life insurance, personal loans, and auto loans. The company even offers solar energy options to help customers lower their energy bills. However, they do not offer an authentic debt consolidation. The only service available for customers to consolidate their debt is to apply for a new personal loan to payoff all of their other debts.

Price

Prices vary. Lowermybills.com is a vendor that works to match you with third party debt reduction companies. If you decide to work with one of those companies, then you will make payments with them.

Up-Front Fees

There are no up-front fees from lowermybills.com directly. However, you may have up-front fees if you choose to work with a company that they suggest. Those fees would come from the third party company.

Free Consultation

The entire structure is a free consultation. When you complete their online forms for whatever type of debt you have, they will match you with up to 5 companies. Those companies will contact you and see if their services are a fit for your situation.

Time in Business

18 years. Lower My Bills Inc. was started in 1999 by Matt Coffin. It was purchased by Experian in 2005, and is famous for its banner ads all over the internet.

Debt Education

The website as a whole is a tool for finding out how to combat your debt. Other than that, the website offers free mortgage calculators on the bottom right-hand side of the home page.

Money-Back Guarantee

Since they offer a free service, there is no money-back guarantee. If you work with one of their service providers, then it will depend on that company’s policies as to if they have a money-back guarantee.

Unsecured vs. Secured Loans

The website will try to process any type of debt that you are encountering. Customer service said to just fill out their online form, and then they will redirect you to some companies that can help, regardless of the type of debt you owe.

Mobile Friendly

Lowermybills.com is not mobile friendly, so look at their website on a desktop, laptop, or tablet, if possible.

Cancellation Policy

Dependent on each service provider.

Contact Information

Address:

6701 Center Dr W Ste 300

Los Angeles, CA, 90045 United States

Services Available

They work with a wide range of companies to bring you the service you need. They work to find loans for home refinance, equity, and purchasing. They also provide service for debt consolidation, debt relief, bankruptcy, tax debt, and private student debt. Outside of debt, they will help you find lower insurance, internet, and phone bills.

Minimum Debt Accepted

Dependent on the individual service provider.

Online Dashboard

Since LowerMyBills.com connects users with third-party financial groups that help them lower their bills, it does not offer an online dashboard for their customers. All financial services are handled by their third-party partners.

CPFC Certified

LowerMyBills.com employees are not CPFC certified since all financial counseling is handled by their partners.

ISO Certified

LowerMyBills.com is not ISO certified.

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Poll

  • When looking for a debt settlement company, which of these two aspects is most important to you?
  • 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
1.4
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

Time in Business

total # of years
18 years

Credit Counseling

do they offer credit counseling services?
No

Certified Credit Counselors

are there certified counselors on staff?
No

ISO Certified

is this business ISO certified?
No

Number of Reviews

User reviews here on BDC
0
Our Score
9.3
User Score
9.5
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

Time in Business

total # of years
24 years

Credit Counseling

do they offer credit counseling services?
Yes

Certified Credit Counselors

are there certified counselors on staff?
Yes

ISO Certified

is this business ISO certified?
Yes

Number of Reviews

User reviews here on BDC
443