Are you struggling to pay your bills each month? Are you feeling overwhelmed by your debt? Do you have true financial hardships? If so, you may be considering Alleviate Financial Solutions as a way to get relief. Alleviate is a company that offers debt relief services, and they have been gaining popularity in recent years. But is Alleviate Financial Solutions a scam, or is it legit? In this Alleviate Financial Solutions review, we will take a closer look at the company and help you decide if its services are right for you.
Alleviate Financial Solutions was founded in 2018. The company offers a variety of debt consolidation services. Alleviate has claimed to help many people get their finances back on track, but there are also many negative reviews about the company. Some people have complained that Alleviate failed to deliver on its promises, and others have said that the company is a scam. So what is the truth about Alleviate Financial Solutions?
There are both positive and negative reviews about Alleviate Financial Solutions. However, it’s important to remember that not all companies are perfect, and even legitimate companies can sometimes make mistakes. If you’re considering using Alleviate’s services, it’s important to do your research and make sure that you understand the terms of their agreement.
2.0 out of 5.0 stars
Alleviate Financial Solutions Pros and Cons
If you’re considering using alleviatefinancial.com, know that this company has more cons than pros. Their bait and switch tactics accusations are well-documented, and they have a lot of negative reviews online. Plus, their customer service is allegedly horrible.
Alleviate Financial Solutions promises a lot but if you’re looking for financial assistance, there are other options out there.
How does Alleviate Financial Solutions work?
Alleviate Financial Solutions is a debt relief services company that works with your creditors to settle your credit card debt with settlement agreement for less than what you owe. While this may sound like a great solution to your debt problems, there are some risks involved. They claim that their performance-based fee structure and account management systems in this industry leading service area are designed with consumers in mind.
One of the biggest risks is that you may end up owing more money than you originally owed. This is because the creditor may agree to settle your debt for less than what you owe, but they can still report the full amount of debt to the credit bureaus. This means that your credit score could still be negatively impacted.
Another risk is that you could be sued by your creditor. If this happens, you could end up having to pay more than you originally owed, plus interest and fees.
Before you decide to work with Alleviate Financial Solutions, be sure to understand the risks involved. Debt consolidation loans as a way to achieve fiscal freedom are not right for everyone.
What is Alleviate Financial Solutions?
Alleviate Financial Solutions is a debt consolidation company that operates in the United States. The company was founded in 2018 and is headquartered in Irvine, California. Alleviate Financial Solutions offers debt consolidation services to consumers who are struggling with debt.
The company works with consumers to negotiate with their creditors to lower the amount of debt owed. Alleviate Financial Solutions also provides educational resources and account management systems to help consumers understand debt and how to manage it.
If you decide to work with Alleviate Financial Solutions, be sure to understand the terms of your agreement and the risks involved. Otherwise, you could end up in a worse financial situation than you are in now.
How to qualify for Alleviate Financial Solutions?
Here are some of the qualifications for Alleviate Financial Solutions.
To qualify for Alleviate Financial Solutions, you must:
- Have a debt-to-income ratio of 50% or less
- Have at least $7500 in unsecured debt (not including mortgages or car loans)
- Be able to make monthly payments of at least $500
If you meet these qualifications, then Alleviate Financial Solutions may be a good fit for you. They offer a free consultation to see if their services are right for your situation.
How much does Alleviate Financial Solutions charge?
There is no simple answer to this question because Alleviate Financial Solutions’ fees vary depending on the individual case. However, we can give you a general idea of how much you can expect to pay.
For debt settlement, Alleviate Financial Solutions typically charges a percentage of the debt that is settled. This fee is typically between 15% and 20%. So, if you have $20,000 in debt that is settled, you can expect to pay between $3000 and $4000 in fees.
These additional costs can add up quickly, so it’s important to be aware of them before you sign up with the Alleviate Financial Solutions team.
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If you’re considering Alleviate Financial Solutions, ask about all of the fees associated with the process. This way, you can make an informed decision about whether or not Alleviate Solutions is right for you.
How does Alleviate Financial Solutions affect your credit?
If you’re considering debt settlement as a way to get out of debt, you may be wondering how a performance-based fee structure will impact your credit. Do not expect a quality and performance improvement. Unfortunately, it can have a negative impact on your credit score.
When you settle a debt, the creditor agrees to accept less than the full amount that you owe because they believe you have true financial hardships. This is reported to the credit bureaus as a “settlement” and is considered negative information.
Debt consolidation can also lead to other problems before financial freedom, such as wage garnishment and legal action from your creditors. So if you’re considering consolidating your debt, be sure to weigh all of the pros and cons before making a decision. You may want to talk to a financial advisor or credit counseling service for more information.
How do you pay back Alleviate Financial Solutions?
There are some drawbacks to using Alleviate Financial Solutions. One of the biggest drawbacks is that you will have to pay back the full amount of the debt, plus fees, within a certain period of time. This can be difficult for some people to do, especially if they are still struggling financially.
Additionally, your credit score will take a hit when you use this type of personal loans company. This is because the debt will show up as “settled for less than the full balance” on your credit report. However, if you are able to successfully pay off the debt, your credit score will eventually rebound.
Allevate is not the right choice for everyone. But, if you are struggling to make ends meet and are at risk of defaulting on your debt, it may be worth considering. Just be sure to do your research and understand all of the potential risks before making a decision.
How to cancel your Alleviate Financial Solutions Reviews?
When you decide that Alleviate Financial Solutions is no longer the right debt settlement program for your financial situation, fiscal freedom, and financial stability – there are a few steps you need to take in order to cancel your enrollment.
First, you will need to give written notice of your intent to cancel to Alleviate Financial Solutions. This notice can be sent via certified mail, return receipt requested, or delivered in person.
Next, you will need to stop making payments to Alleviate Financial Solutions. Once you have given notice of cancellation, any payments made will be applied to your outstanding debt balance and not held in escrow for future settlement negotiations.
Finally, if you have already paid any money into escrow with Alleviate Financial Solutions, you will need to contact the program to request a refund. Refunds can take up to 60 days to process.
If you have any questions or need assistance with canceling your enrollment in Alleviate Financial Solutions, you can contact their customer service directly.
Will Alleviate Financial Solutions Hurt My Credit?
Will Alleviate Financial Solutions hurt my credit? Even though the process can help improve your financial situation in the long run, it may still have a negative effect on your credit score because any debt you settle will be reported as a negative item on your credit report.
Alleviate Financial Solutions BBB Reviews:
The BBB offers accreditation to businesses that meet their standards of trustworthiness and transparency. Alleviate Financial Solutions has been accredited by the BBB since 2019. Despite this, they have had 42 complaints closed in the last three years. This means that the BBB has received multiple complaints about Alleviate Financial Solutions and has determined that they are not meeting their standards.
In the last twelve months, 18 of those complaints were closed. This is a significant increase from the previous year, which raises even more red flags. Potential customers should be aware of these complaints before doing business with Alleviate Financial Solutions.
Here are some BBB Reviews:
Complaint Type: Billing/Collection Issues
Status: Answered 04/28/20221.0 out of 5.0 stars
I am paying Alleviate financial solutions to pay off my debt’s but upon checking on the one creditor payment site the account has been sold to a collection agency and it seems like the account is being paid thru a collection agency instead of the company itself.
All of the other accounts I am receiving numerous calls about the debts being over due and it seems the companies have not been contacted about having a settlement reached and late fee’s are being added for each missed payment and the balance on the accounts are increasing instead of being paid off. It seems like no work has been done to contact these creditors and to get the accounts settled and to start paying these accounts off.
Complaint Type: Billing/Collection Issues
Status: Answered 04/25/20221.0 out of 5.0 stars
They have WRECKED my credit and refuse to explain why. I enrolled 4 credit accounts to their debt relief program. 3 accounts totaling about 3k of debt apiece, and the 4th account itself was a credit card with 13k debt. I signed on to pay a fixed amount per month, for ***** June 2020: Close the accounts and stop making payments.me: NO payments? them: We’re getting these debts settled on the basis of your financial hardship. *If you make payments, the creditors will use that to argue that you don’t have financial hardship.
* This is what they tell desperate people!!!!I did as I was told. That was 2 years ago. Every month they’d call me and say ‘everything looks good, keep it up, you’re gonna be debt free!’
So I left a massive 13k debt entirely unpaid for 2 years, on their expert advice. IN two years they reached settlement amounts with 3 of those 4 accounts. The last one, for 13k from Chase, they simply ignored. They didn’t call the creditors. They didn’t bring up the account in our phone calls. They led me to believe it was being dealt with. They also told me “if any of the creditors tries to pursue legal action, don’t even worry, our attorneys represent you for free”. What they mean is, when ********** gets sick of waiting for their money and sends you a court summons, one of their lawyers will tell you “you’re screwed” pro ****.
I was told that my ************ are to A) DOUBLE my monthly payments to Alleviate or B) remove the Chase account and pay it off with them directly. I chose option B, and no one from Alleviate has contacted me since. The lawyer I was assigned has not responded to me for a month. *************************************************** is not monitored. Despite having requested many times to have this account removed, Alleviate is still auto-debiting the full monthly payment from my bank account and refusing to answer questions about where the money is going. I was shocked to see they are BBB-accredited.
Why Do We Focus On Alleviate Financial Solutions’ Negative Reviews?
We urge you to do your own research and due diligence on any company. We do urge you to pay attention to what consumers are saying in their very detailed complaints and reviews and put them side by side with the positive ones to evaluate the quality of authenticity for yourself.
Is Alleviate Financial Solutions a Scam?
There are some red flags that suggest Alleviate Financial. For one, the company has been accused of charging high fees for services that rarely deliver results. One thing to watch out for when considering debt relief is the fees that companies charge. Alleviate Financial Solutions, like many other debt relief companies, charges a fee for their services. This can be expensive, so it’s important to make sure you understand what you’re getting into before you sign up.
If you’re considering working with alleviatefinancial.com, be sure to do your research first. Read reviews from past clients and see if there are any complaints about the company. If you can’t find any information online, it’s probably best to steer clear.
Do your research and choose a company that has a good track record and is accredited by the BBB.
Alleviate Financial Solutions Review
Alleviate Financial Solutions
Alleviate Financial Solutions Review - Advise Caution
Alleviate Financial Solutions is representative of what is plaguing the debt relief industry. Direct mail with low rates and bait and switch tactics. We highly recommend doing your own due diligence on Alleviate Financial Solutions before entering into any financial relationship with the company.
Alleviate associates say one thing and do something else. You create terrible credit because you are not to make payments on anything for at least 6 months so they can begin contacting creditors for settlements. The rates of 25% of your “settled” debt and the fees are horrible. You are then told after a time you can apply for a loan with a reasonable rate to consolidate the balances. I was told an interest rate of 10% was average. After the loan was completed and accounts paid i find the interest rate added was 21.49%. Still had 1 account not settled and 1 settled. After paying loan payments alleviate settled the last loan. Only $594 difference but alleviate kept $590 for their services and I received a $4 credit! Also early into the program one of my creditors sent me a settlement offer of about 25% of the debt. I sent the information to alleviate. No reply from alleviate and when I called I got some bullshit about not having enough funds in my alleviate account for them to Settle it. I settled with the creditor myself. Took alleviate months to show the account settled! All in all DO NOT USE THIS COMPANY or be prepared for the bullshit, fees and worse credit than you start with!
If I could give a ZERO, I would. Just after 2 months, the customer service is a lot to be desired, it’s terrible. My so called rep never calls as he is supposed to. I download documents and 48 hrs later, still not done. I email, 48 hrs later, still no response. I do not find where they do what they claim. So, today, I cancelled & found another company with far better reviews. And, after speaking to a relative, a recommendation was made.