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#30
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Pacific Business Management

$7,500 minimum debt

Our Score
3.6
User Score
--

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Our Score
3.6
User Score
--
Rank this Company

Ratings Breakdown

Price

% of total debt enrolled
16-18%

Accreditations

AFCC or IAPDA
None

Free Consultation

is one included?
Yes

Time in Business

total # of years
13 Years

Min. Debt

Min. debt accepted
$7,500

Guarantee

money back guarantee?
Yes

Number of Reviews

User reviews here on BDC
0

This Review is maintained by

Review Last Updated: December 21, 2016

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.

Rank Chart
Price (% of debt)
Smallest Debt Accepted
Review

#1

15-25%
$7,500

#2

15-25%
$7,500

#3

15-25%
$7,500

#30
pbm logo

16-18%
$7,500

The Good

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. 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:

  • $7,500 minimum debt
  • Free consultation
  • Free notary
  • Broad spectrum of tools and resources

The Bad

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.

The Bottom Line

Pacific Business Management has some qualities we appreciate while providing services at a highly competitive price. Their enrollment amount is lower than some of the industry’s leading competitors and they offer an array of financial resources and tools to help clients get on the right path to financial freedom. Risks are always involved and they certainly make that clear. We have concerns with the accreditation. Overall, we recommend taking advantage of the free no-obligation consultation to determine if their services will meet your needs.

We would not recommend Debt Relief Services for you debt settlement needs. Their lack of pricing information and no accreditations are some of our concerns. We recommend looking into other top recommended companies on this site.

Time in Business

13 years. They have been in business since 2004.

Debt Education

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.

 

Mobile-Friendly Site

No app and the website is not mobile friendly.

Contact Information

Email Address:

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.

Address: 

825 College Blvd #102
Oceanside, CA 92057

Business Hours: 

Pacific Standard time 8am to 7pm

Services Provided

Debt Settlement
Credit Repair

Online Dashboard

No, there is no online dashboard for clients. As usual, customers have access to their escrow account, though.

Accreditations

No, they have no accreditation with the AFCC or IAPDA.

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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
3.6
User Score
--
Rank this Company

Ratings Breakdown

Price

% of total debt enrolled
16-18%

Accreditations

AFCC or IAPDA
None

Free Consultation

is one included?
Yes

Time in Business

total # of years
13 Years

Min. Debt

Min. debt accepted
$7,500

Guarantee

money back guarantee?
Yes

Number of Reviews

User reviews here on BDC
0
Our Score
9.5
User Score
9.6
Rank this Company

Ratings Breakdown

Price

% of total debt
15-25%

Accreditations

AFCC or IAPDA
AFCC & IAPDA

Free Consultation

is one included?
Yes

Time in Business

total # of years
14 Years

Min. Debt

Min. debt accepted
$7,500

Guarantee

money back guarantee?
Yes

Number of Reviews

User reviews here on BDC
284