Trinity Financial Mission Reviews
Reviews of Trinity Financial Mission from real customers
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Founded 17 years ago on Christian principles, Trinity Financial Mission was created with the intent to not just help others resolve their financial problems but to help in relieving the emotional burdens that come with excessive debt. With the help of bankruptcy attorneys, CPAs, and financial planning professionals, Trinity Financial Mission aims to guide those who are struggling with debt to the financial freedom they seek.
The Good
For Christians across the United States, Trinity Financial Mission brings to the table consolidation and settlement services, claiming to help consumers under the heavy burden of debt relieve the stress to bring clients closer to “Him.”
What sets this company’s programs apart is the ability to authorize non-profit service providers to work on behalf of each client. Because they take this approach, fees are typically nominal and assessed according to the financial situation of the client, or so they claim although we were left a little confused by their $10,000 minimum unsecured debt enrollment amount if they claim to work with non-profit affiliates.
During the initial consultation they claim to go over individual finances, the total debt amount and to discuss payment plans and options including whether do-it-yourself, consolidation, a debt management plan or settlement is the best plan. Interested parties can either fill out an online form on the website to express interest in a free consultation with one of the company’s debt experts or they can call in and request more information and set up a consultation over the phone.
Highlights of this company include:
- 17 years of experience
- Free consultation
The Bad
One of our biggest concerns is their lack of fee structure or company transparency altogether. They say they help Christians, but we are unable to discern if they can really help anyone at all. The company has various reviews around the web, although we were unable to find any updated information pertaining to customer satisfaction or even what this company is all about. It seems any information ceases to exist after 2010.
Another concern is their lack of an escrow account or policy. While this can make clients feel a little more independent with their finances, it seems a dedicated account to save funds toward negotiation is the safest method for those with outstanding debts—especially under the requirement of $10,000 or more to be enrolled into their program.
The company claims to handle debt settlement along with debt consolidation, although their website has very little information pertaining to their settlement services and seem to be strictly focused on debt consolidation.
They do not offer an online dashboard allowing clients the ability to keep track of applicable information with their account. In addition, they hold no AFCC or IAPDA accreditation.
The Bottom Line
Trinity Financial Mission is one of those companies who completely lack transparency. Their fees are unclear and customer service has been unhelpful by being unresponsive to our inquiries. Overall we do not recommend using Trinity Financial Mission for any debt settlement needs. There are other accredited companies that offer cheaper services and better customer service.
Click Here for Our Top-Rated Debt Settlement Companies.
- 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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