Yellow Brick Financial?

Credit Solutions of America has a F rating with BBB.

YellowBrick's a new company since apr. 2008 and has a satisfactory rating w/ BBB. Since it's so new haven't heard much negativety.

Hi michellelgallagher :)
you can also visit this page to know more about Yellow Brick Financial

I just joined with them.,

They are great to work with and very friendly. They are alway offering to go over monthly budgets. The service I have received has been awesome. Highly recommend this company.

HI,

I just joined with Yellow Brick and would like to know if you had some sucess with them yet or not. Please advise.

Be careful. A friend of mine used yelow brick and was scammed.

How were they scammed by Yellow Brick?

This is a bit vague. Can you elaborate more on how they were " ripped off " ?

I would have to say that Yellow Brick Financial is a HUGE SCAM! They have not even been in business long enough to even know if their program works. According to the BBB they only became a company in October of 2006, and being that this is November 2009 and their program is three years, how could anyone have completed it?? Also, the owner of the company owed another loan modification company that was illegal, and the company was closed. There is a reason that the BBB does not currently have a rating for them..... see the writing on the wall people. YOU can do debt settlement on your own without the help of a company, and if YOU do it on your own you won’t have to pay the fees that are up to 15%. Bottom line - DO YOUR HOMEWORK! GO WITH YOUR GUT.

I disagree, Yellow Brick is fantasitc! they just settled my BOA account for 17cents on the dollar! thanks YBF!

What the heck are you people talking about they're company is great. They always answer when I call, any issues I have they address. Very willing to work with you and that's something you don't see everyday, I truly felt like they had my best interest at heart. I get a monthly statement of my settlement account so how is this a scam? Are they not settling you're accounts I don't understand because mine are going great. If I could post my settlement letters here I would.

I used to work for YBF until I was let go for not hitting my sales goals. Some "Account Executives" had no problem telling the consumers whatever they wanted to hear to get them to enroll, so they could collect the commission. Since I was honest about all the aspects of the program it was hard to bring in a ton of clients because it is not a very consumer friendly program.


What I can tell you is that they offer a service that you have to pay for that will destroy your credit. Debt relief is something you CAN do on your own as long as you know the way it works. Basically you stop paying your credit cards and save up your money. Then call up your bank and settle the debt for less after the bank is at the point where they don't think they will get any money at all. Then it is very easy to call the bank and say "I owe you ten grand, let me give you half and be done with it."

If you have dealt with the company and feel wronged, the owners live in constant fear of The Better Business Bureau and The Attorney General. Threatening with complaints will almost guarantee refund results.

They walk a fine line between being legit and a scam. In my opinion they are not a scam but not anyone's savior either.

I wouldn't go so far as to say the company is a "scam", but also, as a former employee of this company i can attest to some questionable business practices. The services they provide do wreck a consumers credit, but most are already wrecked by the time they're reaching out to a company like YBF. Truth is, you can do it yourself, but if you could save that $ on your own, you'd probably of already done it. You can also commit a crime and defend yourself in a court of law, but we all know how that usually ends up. Don't get yourself into the situation in the first place by over extending yourself with bills, and YBF isn't a company whos services you'll ever need anyways.

First of all everything that Bowntiful said is true. I worked at YBF for a few years and at first you totally buy into the mystique that your "helping people". It takes some time but you start to realize that this is something you can totally do on your own. YBF has it set up where you are going to pay 15% of your overall debt in fees with little to no savings in the first 4 months bc thats when they take the "Set-up Fee" (There's also 2 $9.85 fees that barely get mentioned). So at month 5 you've just started saving a few bucks (emphasis on a few) and the creditors are calling off the hook. Most are even offering settlements that are the same that YBF will get you but you cant make those settlements bc you just paid an arm and a leg in fees so now your way behind the 8 ball. This now brings me to my next point.....

The "latest and greatest" from YBF is the back-end fee model. Once again, the Set-up Fee (5% of overall debt) is taken out over 4 months (no savings) but they then work on a paid for performance type scenario. It sounds great at first until you do the math: 30% of overall savings, $50 a month maintence fee. It typically works out to almost 18% of your overall debt which is a rip off (also pay the employees like dirt). I've been in the office of the president of the company saying that we should use this fee model for "lump sum payments" so we make more money. This is the mentality your dealing with. Do they really have your best interest at heart? Probably not because all they'd have to tell you is to open a savings account, put some disposable income in it, wait a few months and watch the Bank of Americas, Chase's, Citi's of the world start offering you, the consumer, direct settlements.

The reply to this is probably going to be from someone at YBF or a "guest" and use some analogy like changing your oil. Everyone can do it yet people still bring it to the mechanic. Going to Bank of America to open a savings account is a little different than jacking your car up and changing the filter. ABC News just ran a piece on debt settlement, see for yourself. Do yourself a favor, tell your creditors your trying to avoid bankruptcy, offer 40 cents on the dollar and get it done as soon as possible. Dont take this as coming from a disgruntled employee, just one that started to have a moral objection to ripping people off.

If anybody has any questions about YBF or settlement in general please feel to ask away

Hi, I signed up with YBF and now I'm not sure if I did the right thing....can I back out of a contract??? help...I dont know what to do...

I have read both positive and negative reviews about this company on this blog, and I have never seen anything like it. Typically, if a company is terrible and ripping people off the terrible opinions are pretty consistent. I checked them out on the BBB, they only have two complaints since they have been in business - if everything everyone was saying on here was true, I would conclude that they would have far more complaints. When you are looking for financial assistance, the main thing is being comfortable with who you are working with. If you signed up with them, at least see if it works - a lot of people on here have said they have done great things for them, and also their website has A LOT of real customer testimonials (not those BS ones other websites have). The other important thing that I see is that they are members of the IAPDA and USOBA...when I was looking debt relief help, I contacted both of these organizations and found out that they actually audit the companies that are members with them, which means Yellow Brick is getting audited by trade organizations. I have never heard anything bad about this company other than this blog...their overall internet presence is impeccable. I think you did the right thing medflower. Best of luck.

I am looking into YBF, after all of this time can anyone tell me they are not a scam?

I've been with Yellow Brick for almost a year, and they've already taken care of 3 of my 8 accounts, I still have a ways to go, but I feel comfortable with my case manager and other employees there. On the phone they sound like real people, not cheesey salesmen telling me what I want to hear, and that puts me at ease. I would recommend them to anyone who is in debt like me.

After doing business with this company for about a year and a half, our funds were stolen from us and kept by Yellow Brick Financial (scam artists). This has happened to ALL of his customers in his side business for loan modifications of which he walked off with hundreds of thousands of dollars. He is being investigated by the Attorney General of Pennsylvania and is trying to merge with another debt settlement company called Clear One so he can possibly change his company name to hide his identity. Do not ever do business with this company for your own sake. Use that money to hire an attorney and get sound advise, like we should have at first.

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I heard that Yellow Brick Financial (or its owner) are being investigated by the FBI for some huge scandal. Let the chips fall where they may because where there is smoke there is always fire. These businesses are all fly by night companies, bending the truth to whomever will listen - they are looking to prey on the poor and uninformed. Just don't be uninformed and do your research. All creditors will offer you settlements without the help of a debt settlement company and their settlement offers are up to 15% more when they know the debt settlement company is not involved.

Nope! We tried to cancel the contract before they even did anything; our account manager 'Chad Fisher' said no problem, we'll refund your money, next thing you know $479 was taken from our account, and they gave us the big rasberry, and the 'too bad you signed the contract'. You can try to report them to the BBB, but they're real a$$ holes about refunding your money.

Yes, I did the same research before signing up with YBF; only a couple of complaints on BBB, members of TASC, etc. After a couple of weeks of not hearing back from the account manager, or anyone we tried to cancel. Not only did they charge us for the first $479; they said they will invoice us for the remaining amount on the contract. This company is bogus! Fraud, Scam, whatever you want to call it.

I just recently completed debt settlement on about $20,000 in credit cards and a few collections that had been outstanding FOREVER and I was hoping would just go. I tried to settle some accounts on my own and made some headway with some of them. I handed the offers I got to my negotiator and he took my settlement and cut it in half.

I see a lot of bitterness on this blog post and I can't believe it. I can only imagine these people didn't do what they were supposed to or tried to. My friend tried to do the program but didn't stick to it so it didn't work. I told them they were an idiot for signing up for something and not sticking to it. I'd recommend these guys to anyone after all they did for me and i feel sooooooooo good to be debt free!

Thanks Yellw Brick!!:hug:

the guy that i talked to on the phone could not answer some simple questions that i had. i asked for some information in writing (email or snail mail), and he could not seem to even do this for me.

i would back out!!!!

This person more than likely offered or DID send you information via email in regards to our company and what it was that we could do. They also gave you some type of assignment or homework to determine your level of seriousness. Considering you didn't reply or make an effort to engage in a "serious" application they chose it wasn't worth the time to send you information that you would just throw away and proceeded to move on to a more qualified candidate!

And 2 plus years later they are still in business! So now whats the next scam idea? The truth is the company works, you as the client have to do as you say you will do so it DOES work.