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#43
Omni-Financial

Omni Financial

In business since 2002; Multiple Association Memberships

Our Score
3.1
User Score
0.0

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Our Score
3.1
User Score
0.0
Rank this Company

Ratings Breakdown

Price

Case by case basis
Undisclosed

Time in Business

total # of years
2002

A+

Services

Variety of services offered
8/10

CPA

CPA on staff?
Yes

Tax Attorney

Tax Attorney on staff?
Yes

Associations

Professional Association Members
Yes

Enrolled Agent

Certified by U.S Government
Yes

Refund Policy

Is there a refund policy?
Partial

Number of Reviews

User reviews here on BDC
1

This Review is maintained by

Review Last Updated: June 29, 2016

Omni Financial is also known as El Dorado Financial, Inc. They are your typical tax resolution company that has many years of experience between their Florida Office and the one in Colorado.

Rank Chart
Price (flat-fee)
Time in Business
Review

#1

$2,500-3,000
1997

#2

$2,000-5,000
2010

#3

$1,500-2,500+
2001

#43
Omni-Financial

Undisclosed
2002

The Good

If consumers have found themselves behind on taxes and have levies, seizures, or wage garnishments against them due to failure to comply with the IRS, Omni Financial offers solutions, as they understand people get busy or simply don’t understand what they’re dealing with. They offer a free consultation to help consumers decipher the problem behind their tax debt and offer a variety of solutions. Clients will be teamed up with a fully trained staff of tax attorney’s, CPA’s, and Enrolled agents backed by professional memberships with the National Association of Enrolled Agents, the American Bar Association, and the National Association of Tax Professionals.

Omni Financial Reviews | Company AccredidationsIt’s typical for companies in this industry to lack transparency when it comes to pricing, and this company is no different, although they claim to offer competitive prices and have refund policy in place where clients opting out will be granted a prorated amount for unperformed services.

One aspect setting this company apart is by granting their newest clients a trial period in which they will work completely free of charge for a few days to allow clients dime to decide whether or not the company feels safe. While this approach is masked by “a few days free,” several industry competitors offer basically the same thing and call it a “money back guarantee” – if clients are unsatisfied with the services within a few days, they will grant a full refund. The only aspect separating Omni from the rest of the crowd is that money is never exchanged upfront – at least for a few days.

In spite of several consumer reviews concerning unfair fee practices, Omni Financial told the BBB they have made some changes and no longer bill based on task, but instead bill clients for actual work performed, reducing the overall fees clients see when the bill comes. If the company requires more money exceeding ten percent of the originally anticipated price, Omni will require written confirmation that clients understand why and where their fees are being assessed and clients will now be receiving a copy of their statements every 60 days they are with the company.

Highlights to consider with Omni Financial include:

  • Free consultation
  • CPAs, Tax Attorneys, and Enrolled Agents on staff
  • Members of multiple professional organizations

The Bad

Typically when a company offers tax debt relief, filing back taxes comes on that list of options, although Omni doesn’t support that service and claims companies handling tax settlements and filing back taxes is a conflict of interest, yet they never owned up to why this is. This leaves consumers in the dark about what they do to actually educate consumers on all things tax related.

Also on educations, they do little to educate consumers on anything tax related, although they do well to provide Power of Attorney forms for each state.

On the BBB, consumers has been complaining about how they apply their fees and were dissatisfied when, after several months, company representatives stated they would need additional fees ranging from $1,500 to $5,000 after they had already paid $1,500 to $2,000 for services. The BBB reached out to the company to request cooperation in resolution, which the company complied; however, after a year of monitoring this company, the BBB found the complaint pattern still exists, suggesting the company did little, if nothing, to gain back a good rating – or client respect. Keep in mind, there are positive client reviews scattered around the web and within their social media accounts.

The Bottom Line

Omni Financial offers a modest list of services, although they cannot help clients with back taxes, which concerns us. Their bill as you go payment policy can be difficult for many customers because it’s unclear on how the bill-as-you-go policy works. Their website lacks important company information, such as how services are performed, who clients will be teamed up with, and the typical duration of any program length. We advise that if you choose to work with Omni Financial, as with any other company, make certain you understand your tax issues completely, make certain you have a full disclosure of costs; ensure they inform you upfront if you may need to pay an additional amount in the future (even a few months down the road), and how much any potential additional services are so there are no surprises down the road. Overall, we recommend visiting our top recommended companies for getting tax relief needs.

Contact Info

Phone: 800-540-0433
Website: omni-financial.com
Email: Contact Form
Address: 380 Interlocken Crescent Suite 800, Broomfield CO, 80021

Price

Prices will vary depending on what type of service you need. If there are surprises in your case, they will stop work to discuss any increases in price with you. Be aware that they bill as they go.

Minimum Tax Debt Accepted

The company requires potential candidates to have a minimum of $6,000 in tax debt to secure their services.

Time In Business

2002

BBB Rating

They are not BBB accredited and have an A+ rating with the BBB.

Types of Services Available

  • Formal IRS Pay Plan
  • IRS Penalty Abatement Due to Reasonable Cause Criteria
  • Offer in Compromise
  • Real Estate Lending

CPA on Staff

Yes

Tax Attorney on Staff

Yes

Professional Associations

National Association of Tax Professionals (NATP), American Bar Association (ABA) and National Association of Enrolled Agent (NAEA).

Enrolled Agent on Staff

Yes

Free Consultation

Yes, they offer a no-pressure consultation to help you understand, and work through, your tax problems.

Refund Policy

Unknown

Up-Front Fees

No upfront fees, once the job has an accurate bid that is what you pay.

Contact Information

E-Mail:

[email protected]

Address:

2300 5th Avenue
Vero Beach, FL 32960-5169

Business Hours:

8am to 5pm EST

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1 Omni Financial Reviews

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  1. User Score
    0
    August 3rd, 2016 Virginia Beach, VA
    1 people found this review helpful!
    so my husband, gets a call that his Loan had been sold to OMNI, they seemed wonderful, as we filled out the paper work, they spoke of us, having same payments and everything. However, 6 months later, we haven’t been able to get a hold of anyone. I have called over and over, wrote many emails, then, they asked for our banking information via E-mail They haven’t taken the money from the account, but, now my husbands private loan is triple if not MORE than what it was before. Please be careful when using this company. I don’t even know if he is being represented by these people still.. I am still calling trying to figure something out.
    Read More

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
3.1
User Score
0.0
Rank this Company

Ratings Breakdown

Price

Case by case basis
Undisclosed

Time in Business

total # of years
2002

A+

Services

Variety of services offered
8/10

CPA

CPA on staff?
Yes

Tax Attorney

Tax Attorney on staff?
Yes

Associations

Professional Association Members
Yes

Enrolled Agent

Certified by U.S Government
Yes

Refund Policy

Is there a refund policy?
Partial

Number of Reviews

User reviews here on BDC
1
Our Score
9.4
User Score
8.9
Rank this Company

Ratings Breakdown

Price

flat fee, paid monthly
$2,500-3,000

Time in Business

total # of years
1997

A+

Services

Variety of services offered
10/10

CPA

CPA on staff?
Yes

Tax Attorney

Tax Attorney on staff?
Yes

Associations

Professional Association Members
Yes

Enrolled Agent

Certified by U.S Government
Yes

Refund Policy

Is there a refund policy?
Yes

Number of Reviews

User reviews here on BDC
257