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Debt Settlement: How It Works And Is It Worth The Risks?

If you meet these requirements, you can apply for a loan online or over the phone. This is how Safestone makes its money – by tricking people into paying more than they need to. If you’re considering using this company, beware of these practices and consider another lender instead.

You can protect yourself by ignoring solicitations and contacting the lender directly via their secured website or by calling the online customer service hotline. If the lender has no record of reaching out to you, that’s your confirmation that you were dealing with a scam artist. A reputable lender won’t sbnaselflndr on credit report require money upfront to receive your loan proceeds. When the loan is funded, you should accept a wire transfer, direct deposit, or a check you can deposit into your checking account. The Federal Trade Commission requires lenders and loan brokers to register in the states where they conduct business.

The leads were not abundant enough to close even close to a 6 figure salary. The initial 90 day guarantee was nice, but this company has a lot to learn about marketing to be successful in the debt settlement space. See how our programs can save you money and improve your overall financial situation. Despite all these drawbacks, Safestone Financial does have some benefits. Their website is easy to navigate, and the online application process is quite simple.

You’ll see the expected monthly payment with each loan offer. Either option gives a lender more information to consider on a loan application. Adding someone with better credit and income may help you qualify or get a lower rate. Every lender you’re interested in should provide a physical location. Some businesses running personal loan scams will list addresses that are actually vacant lots, so it’s important to verify this. Bankrate’s editorial team writes on behalf of YOU – the reader.

The lack of both a BBB and Trustpilot account makes us wonder about the legitimacy of Safestone Financial. Additionally, Safestone is known for being very aggressive in its sales tactics, which can make it difficult to say no. If you’re considering doing business with Safestone, be sure to do your research and understand exactly what you’re getting into. You should be aware of the pitfalls before you decide to use their services.

As mentioned before, Safestone Financial is not itself a money lending company. Consequently, you can not withdraw yourself from the loan program. On the other hand, if you have any questions or queries about the loan services, you can reach out to their customer service department. In case you weren’t successful in negotiating with your creditors, we suggest making additional payments on your debt.

Debt settlement done through a company comes with significant risks. Visiting with a counselor at a nonprofit credit counseling agency can help you get back on your financial feet. If you’re fully aware of the potential pitfalls and ready to move ahead with debt settlement, it’s time to pick a debt settlement company based on your research. If a debt settlement company promises certain results, proceed carefully. For example, they can’t guarantee that a creditor will even agree to a debt settlement. A number of legitimate debt settlement companies operate in the U.S.