Preferred financial Services - How much can you depend on them?

I would assume most of the negative reviews are by folks belonging to other businesses out there that don't wish for PFS, as some have said, to succeed in any manor. I myself am looking into getting help with some of my debt so I've been seeking ways to get rid of it. So far, I think debt settlement is the best way but I still have a lot to look at. At this point, I'm leaning more towards PFS simply because they are with usoba and have an decent rating with the BBB. I'm still not so clear on what to do but if I do happen to go with them have have a negative review, I'll be posting it here.

I joined PFS in August 2010 and my husband joined in September 2010. In 2011, the fee structure changed and the fees are no longer collected up front. My Settlement rep, Jennifer, has always called me back and has let me know everything that was going on. In late 2010, I came into inheritance and now my debts are settled in full and they saved me over $5,000. Thanks, PFS, you've made my life livable again.

I too received a letter from an attorney stating that I was being sued. I sent this letter to PFS to let their lawyers handle it. I haven't heard back from the attorney's office. I am retired and living on a "fixed, limited income." Maybe the CU that I owe, (PFS is working on reducing the debt) decided that they can't get blood from a turnip. It's not as if I have much that they could get. Let me know how your story goes, ok? Linda

Nelly,

I've had a personal experience with Preferred Financial. I was first contacted online about their services. They signed me up for the school loan deferment program, where they do the legwork to consolidate my school loans. They were to wait and take a payment out two weeks after sign-up. Within a day or so before actually doing anything for me, I found out that I could get an in school deferment. They quickly withdrew the money from my account. When I asked for a refund it took forever, when they finally did an unknown company withdrew the amount of my refund a day before Preferred Financial "deposited" it. They swore it wasn't them but it was a company dealing with "school loans". They were the only ones I'd dealt with involving my school loan. I've never received a total refund from them. They are definite scammers. PLEASE BEWARE!!

Thanks

I am interested in this change in fee structure. Can you share more. I started 7/30/2010 and am trying to figure a way to pay early to get out of paying some of those fees. Do you mind sharing? Thanks!!

please share.....how to get out early. i need to get away from these horrible company. thanks.

I've been in the PFS1 program for less than a month and I had a strange feeling about the way they deal with the creditors. The advisor I delt with for the first week just quit and they signed me someone else.Which make me more unconfortable and more suspeciouse about the way the act. The good thing you have 30 days to withdraw from the program so I was pushing quesions everyday to find out the real deal from this program. Well They want you to give them Limited Power of Attorney which allow them to negotiate and accept or refuse the offer from the creditors. Also they will take the money from your bank without asking you because at the first 14 pages which they guide you on the phone so you won't have time to read , and the funny thing they have now the electronic signature wich you just click on the page and it will put your signature like you signe it which I believe is not legal, which I hope a lawyer can tell us more about it.
I just stop with this program because I didn't feel it's safe at all because PSF1 tells you that they are not legal firm, and they have no responsibilty whatsoever if you get settlement or not. which leaves you with bad credit and also you end up paying more. I believe the best way is to Cancel your credit cards and start paying back, which I am doing right now. Credit card companies won't be able to raise the interest because the card is already closed.
Please anyone who read my post Don't get involve with PSF1 or any company announce that they will get you out of debt in 36 month or whatever period. They want you to hide your self, to send every mail to their address, so you will have no idea what is going on which is very very scary thing.
PSF1 toke my money already and I am struggling with them to get it back. Please guys any idea how to force them to get my money back. I didn't even allow them to take it. This is crazy how they can control you. I don't like it and I don't advise anyone to go through this feelings.

this company sucks!I mean literary!first they will tell you to pay them on a monthly basis but in reality half of it will go them as fees.this is a scam!!I paid these guys for 8 months and with negative results. there is no easy way out of debt but pay your creditors!!!

I totally agree! I've had the disapointing experience of speakin with Gabe Taverez as well. Completely unprofessional and rude! I cannot believe that this guy is actaully running a company... unbelievable!

This place ruined my credit, it will never be the same. Please don't make the same mistake I did. Almost anything is a better alt

I signed up two weeks ago; PFS debited my account $174 without my permission and was not part of our agreement. I called and spoke to Jesus and Josh demanding my money be credited to my account as that was not part of our agreement. In the end, the bank got my money back, Jesus hung up on me, I called back and he told me our contract is terminated. I'm relieved and will try and figure out other options to resolve this debt I am in. I did file a complaint with the Mass AG's office. I would recommend choosing another company!