Pacific Business Management has been helping consumers struggling to pay off unsecured debt since 2004 by providing a broad spectrum of services, specializing in debt settlement and negotiation.
Pacific Business Management (PBM) launched a business to help relieve debt of many struggling American’s. What sets this company apart from several others in the settlement arena is their outstanding A+ rating with the BBB after 10 years in the industry. Post FTC ruling banning up-front fees in settlement practices in 2010, several of their competitors went out of business or bankrupt, yet this company has planted some deep roots proving solid customer satisfaction.
Consumers can take advantage a free consultation where a debt relief expert will assess the financial hardship and determine qualification. The minimum amount of debt consumers may enroll into the program is $7,500 with each individual debt being no less than $750.
PBM has some of the lowest fees in the industry and are, in fact, quite competitive. Clients can expect to pay 12 to 18 percent of the total amount of debt enrolled into their programs. The program enables clients to pay a low, manageable monthly payment to a trust account set up on behalf of each client at Reliant Account Management (RAM). Once a percentage of an enrolled debt is accumulated in the account, negotiators begin the settlement process with creditors. The objective is to have clients out of debt and on the path to financial freedom in 12-48 months, which is industry standard – although, 48 months of not making creditor payments substantially increases chances for litigation and judgment.
If clients are unsatisfied with the negotiated amount or wish to opt-out of the program, the funds in the trust account will go directly back to the owner of the account, minus monthly fees assessed by RAM. The company will never charge up-front fees or dip into trust accounts, in accordance with the law.
Highlights to this company include:
- A+ BBB rating
- $7,500 minimum debt
- Free consultation
- Free notary
- Broad spectrum of tools and resources
Any company informing consumers that there is no risk when enrolling their debts into a settlement program would be an outright lie and we will advise to immediately walk away. However, this company is quick to outline all the risks associated with any settlement program such as credit score hits, tax liability, harassing creditors, closed lines of credit, and possible litigation. Outlining all these aspects is something we appreciate.
One of our concerns with PBM is they are not accredited with the AFCC and staff members and/or arbitrators are not certified with the IAPDA. Although these companies are each for-profit establishments, they do provide a set of guidelines for anyone in the financial industry to practice. Being accredited almost assumes a sense of business responsibility to ease the already burdened mind of debt burdened consumers.
Time in Business
13 years. They have been in business since 2004.
Though they claim they are BBB accredited on their site, we were not able to find any information about them on the BBB site.
Debt Relief Services features blog posts on their website for consumers to educate themselves with. More information offered on the site would be helpful to consumers.
No app and the website is not mobile friendly.
You can email them from their website, and their agents have individual emails that you can get access to once you are working with someone.
825 College Blvd #102
Oceanside, CA 92057
Pacific Standard time 8am to 7pm
No, there is no online dashboard for clients. As usual, customers have access to their escrow account, though.
No, they have no accreditation with the AFCC or IAPDA.
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