Lifeguard Financial is a debt relief company which offers services such as debt consolidation, settlement and debt management. It is based in Fort Lauderdale, Florida. The company claims to have IAPDA certified counselors providing help and support to those in debt problem.

What is the consumer feedback on Lifeguard Financial?

Consumers have spoken about Lifeguard Financial in our forums. Here's what they have said about the company.

Suspected telemarketing scam: A Lifeguard representative called a debtor saying that his creditors were concerned that the debtor's credit score had dropped and he might be having some financial trouble. But the debtor was paying his bills on time and even making extra payments on his account.

The representative couldn't tell the debtor which creditor had given him the details of his credit file. So, the debtor kept on asking about the identity of the caller but the latter threatened to send his account into collections. However, there wasn't any reason of sending the account into collections. The debtor tried to call back the representative but couldn't get the number. He suspected that the caller was involved in some kind of telemarketing scam.

Relation with creditors: Lifeguard withdrew cash from a consumer's checking account through a third party. After 4 months, his creditors said that they had no dealing with Lifeguard Financial. But the company had already collected funds from the consumer in order to settle his debt with the creditors. However, by the time Lifeguard Financial could contact the creditors, the latter have already sent the accounts into collection.

Accreditations: There are consumers who feel that Lifeguard Financial has the accreditations that speak about its reliability. They consider Lifeguard to be a reliable company as it is a member of the USOBA (United States Organization of Bankruptcy Alternatives) and it has B+ rating with the BBB (Better Business Bureau). However, others feel that being a member of the TASC (The Association of Debt Settlement Companies) makes a company more trustworthy as compared to getting a good BBB rating.

Dealing with creditors: A consumer signed on with Lifeguard Financial and within 2 weeks, the company debited funds from his account for payment towards a settlement. Meanwhile his creditors have been making repeated calls. The consumer tried contacting the company so as to take its help in dealing with the creditors. But every time he called, Lifeguard representatives put him on hold and hung up the phone.

Settlement fees: There are some debtors who've spoken about Lifeguard Financial taking 6 months of payment as the initial fees without offering any service in return. They feel that the company might not provide legitimate service because they didn't refund the fees quickly. Another customer wasn't simply informed about the fees and later on he had to pay around 7K in fees for a settlement worth $16K.

While some consumers have complaints against Lifeguard Financial, others seem to be quite happy with its services. There are debtors who have been able to settle their dues for half the outstanding balance. Others who've shared their experience with Lifeguard say that they've been able to get out of debt within a short span of time and their credit scores have gone up as well.