Best Debt Companys

163 Companies 5,393 Real Customer Reviews

Best Debt Relief Companies 2020

163

Companies

5,393

Consumer Reviews

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Most Recent User Review: OneMain Financial

  1. User Score
    0
    Unsatisfied Customer
    July 20th, 2020 at 10:40 am
    0 people found this review helpful!
    This is undoubtingly the worst company that I have on my credit usage out of 11 other creditors. I have perfect payment history with all my creditors and also with One main Financial, up until the pandemic. I originated this account in October and I have not been late or missed any payment until April 2020 (COVID Pandemic). Prior to my miss payment I have spent several hours communicating with Onemain financial, informing them of my lost of employment and options that they may offer that can help keep my account current. I did manage to make arrangements(with ease) with my other creditors to have my payments deferred during the pandemic but not Onemain Financial. Not only did they refused to follow precedent like other financial institutions on showing empathy during the pandemic but instead reported me for one missed payment to all the credit bureaus. Their despicable pseudo attempt extend of relief during a pandemic is deplorable. Dispite communicating with this company at least 4 times a week, due to the fact of harassing calls everyday and most days twice a day to no avail is extremely redundant. After learning the requirements to apply for a modification, I must relinquish my bank statement( private, invasive personal information) in which I did, the modification was approved and again the payment would be more than half of its original payment. One day later to my surprise I was notified by my credit monitoring company that One main Financial reported my payment 30 days Late; to my disbelief any reputable company would proceed to report during a pandemic. I will never advise anyone under no circumstances to use this company. The lack of support, professionalism and daily harassment that has been display by this company during this pandemic, absolutely demonstrates that this is a company to stray and stay away from. Do Not use this company save yourself stress, harassment and extremely high interest.

    Read More OneMain Financial Reviews

  • 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.

Real Reviews (yes they’re real)

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