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

I have never had any of these problems, I'm due to complete Preferred Financial's debt program in August ( actually ahead of schedule). The thing is, I actaully referred my sister to this program and she found this site. I really want to say that I've never had any probelms like the ones outlined here. I called up my advisor ( whom I've been working with for the duration) and she explained that these sites are mostly back and forth between competition in the Settlement Industry. In short, companies blasting other companies with false claims. I mean really, I would never had stayed with them if I was getting creditor calls like that or my accounts weren't getting settled. I'm really amazed that this site exists. My sister enrolled last month and is doing fine. We weren't behind before we enrolled we both just had horrible interest and weren't getting anywhere. If there are any REAL people on this site, take your legit questions to the actual company your thinking about joining or a trusted Attorney. I had a positive experience. To all the companies posting this stuff on this site , you should be ashamed, really. Settling my debt really helped me, there was no other way to get out of that debt with the interest I had. Posting these things may influence people ( like my sister) to stay away from legit help without knowing any better. SO, from a real client that had a real debt situation - this company is legit and the results are there. I've seen it and I'm sure that their are lots of clients just like me who are thankful for the services that they provide.

My personal attorney just review their paperwork and I got the "ok" to join. I don't have to file BK and I don't have to screw up my credit for years so I feel pretty confident about my decision. There plan doesn't have any interest so I'm in.

I went through this program and came out unscathed. I wonder how many of these blogs are true on this site!!!! I never got creditor calls and I would've completly lost all faith if I got a call from an attorney about any of my accounts. I just had such a different experience than what is posted here. My suggestion would be to just check them out legitmatly before making a decision.

I joined the Preferred Financial Program with only 4 accounts, they each had significant balances. Due to my wifes lose of job ( lay off) we had a significant reduction in income. We enrolled in the program, we were not behind ... I thought that is would be a relief to not pay such high interest. The rate had climbed some up to 23% over the course of 4 months or so. It just killed us, there was no way we could keep up when our min payment was growing like that.

I have one account settled, we got 65% on 13k which was better than what we expected. On to the next accounts. The settlement offers have come in on two more but my advisor said that they were not good ones ( only offering 45% reduction in the orginal balance).

The program is on track thus far. No complaints. No calls from my creidtors. One of my account is in collections but they have a program that will clean up my credit at the end. My wife got another job on March, not nearly what she was paying before but she has been able to add some extra payments so we can speed up the program.

Preferred Finanical did great work for me. I was already receiving calls from my creidtors BEFORE i enrolled and they stopped the calls for me. I was scared at first about doing a program like this just because I want to pay my creditors but I found that everything does end up getting resolved in a timley fashion and my Credit updated. It was a neat process thus far. I just followed their instructions and paperwork and they took care of the calls for me.

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Bottom line - I saved over 35k off what I owed on my credit cards. Its not worth paying the interest rates at the end of the day when you are deciding whether to pay your electric bill or your credit card payment. Preferred Financial helped me a great deal.

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[SIZE=3]I went with Preferred Financial 2 years ago and have had very good results. Look at it this way, without a professional service to help me handle these accounts I would have to pay back 100% of what I owed, not to mention future fees and interest. Regardless of a fee, I still am saving thousands off what I owe. My wife and I recently went on the first vacation we have gone on in 10 years, and thats not being frivilous, it was well deserved. After paying back probally twice what I borrowed the debt reduction program finally allowed us to get ahead.[/SIZE]
[SIZE=3]One account I had was with American Express, I first tried working directly with them but they wouldn???t budge. Three months later my interest rate creeped up to 22%, I contacted the FTC, I sat and did the math with my wife??? and lets just say it would have taken us forever and a day to make any headway going the way that we were going. So, my reply and advice is do whats best for you but Preferred Financial did give us structure to what we were doing and helped us a lot.[/SIZE]
[SIZE=3]Best of luck,[/SIZE]
[SIZE=3]Jay[/SIZE]

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I heard the same thing too! I am a current client with PFS. Those collectors are just scumbags just trying to get a payment out of you. They are trained to lie to you. I contacted Jennifer who is my rep at Preffered, she's been really crucial in helping me as I have about a gibillion questions. She gave me clear instruction - i followed it- and the calls stopped. It's not hard you just have to follow their instructions and you will be ok.

Also, I found that if that paperwork is sent out right in the beginning( the Welcome Letter) then you should have a problem either. My Uncle reffered me to the program and that's how he handled it ( which is what I should have done too!) but if that paperwork is sent out int he beinning you can avoid the headache of ever dealing with a creditor agian!

HAAAAAAAAAAAA!!!!!!! I absoultely agree! I loved it when my creidtors got POA from Preferred, shut off the creditor calls right away. They were on the phone with me trying to tell a line of crap trying to make a " good faith payment," when my rep fax them over the paperwork legally they had to stop calling me. GREAT!!!!!!!!!!!

Preferred Financial help me a great deal It allowed me to free up money so that I could save my house from forclosure to give you some feedback I would have never been in this debt situation to begin with but I became a single mom recently and was unable to make ends meet. I have to put food on the table and I was spending over 700 a month on credit cards that barely had any availabilty on them. I am the type of person who is always on time but I cannot justify paying that much when my interest is so high and yet i've always been on time you have to ask WHY! at some point.

Soooo i looked into many companies and finally went with Preferred because they offered the most realistic plan for getting out of debt. I couldn't afford to make a mistep here and I know i did the correct thing.

So most imporantly i was able to save my house from foreclosure. I really credit them with getting me back on track

I am signed up with Preffered Financial. I wanted was to safely resolve my debts in a timely manner while protecting my rights as a consumer and I also value my privacy. Delving into this industry I found a lot of things written. some good some bad. With Preferred, Everything is confidential and everyone that works there is Certified with the Institute of Financial Literacy which lended them a lot of credibilty. The contract is a basic contract I have a fairly good grasp on the the disclaimers are. What made me the most comfortable was that they are a cert. and accredited co. this basically gives them accountablity with your finances so that you know they aren't a scam.
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May will start my 5th month of the program. It's going quite well, any question I have I can get answered on the spot. I haven't received creditor calls and I don't expect to at this point. I am looking at resolving my obligations within 24 months or less which is great.

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Although I didn't go with Preferred Financial I got to say, their honesty really saved me. I had no idea what i was doing, they were very patient. I ended up not being able to afford a monthly payment to get into the program whereas I am on a fixed income but they were so honest and forthwright with me that I truly feel that if I had been able to afford it I wouldve gone with their program. There advise is sound and they help saved me from a scam company that was just going to take my money and run. They really care about the people who make up with nation of consumers!!! I would def DEF tell anyone to at least give them a call and have them assess what is going on before it gets to much. They will help you and if not- point you in the right direction.

My situation is pretty straight forward. I have about 25-27k worth of debt under my belt total of 7 creidtors the biggest one being BOA at over 10k I got into trouble just because of the interest rates, they weren't terrible but they weren't great either and I saw my paycheck getting eating by those rates. I knew that I wasn't going to be able to keep going that way when the balances were barley moving. I stopped using the cards over a year ago to see if that would help me out btu the principal remained consistant even though I was spending the equivalent to a nice car payment on these cards. BOA was the worst, even though I was a great customer for many years they refused to lower the rate. I was kinda stuck. I was able to contact Preferred Financial and I spoke with some people there.

The things i like about what they set up for me was that I could add money without penalty if i paid out early. Unlike some people I can pay my bills just fine, I just wasn't getting anywhere. When I could get my money to actaully work for me and change the play field with my cards it made me feel in control agian. Like I could actaully DO SOMETHING! I had to close the accounts but like I said I haven't used them in a year or so anyway so there was no point to keeping them. I didn't even want to use up the available credit i had less, it made me nervous to think that I would incurr even more debt than i had already.

So I am on a plan for 36 months which will allow me a break monthly and overall save me a lot of money. I have about 20 months left and I don't know what I would've or could ve done without doing somthing like this. As for Preferred Financial itself, i've always had a good response from them. They are eztremely compassionate to what you are going through whatever the case may be. It's important to go with a company that is going to look at what your specifically going thruogh and tell you the truth. They did that for me.

Settlement I was told where anywhere between 50 and 70 % ... it mostly depends on who you owe... Wells Fargosettled with me for a very very high rate. Preferred Financial got the best settlements, i almost didn't believe it when they sumbitted it to me. We got a really good deal.

BBB Note: some debt settlement companies get a low grade just because of the industry, despite being a top company. Make sure to also review the Customer History section to get an accurate view of the company's quality

I faced a financial tsunami over the last couple years: job loss, medical bills and a failed business. Debt settlement sounded too good to be true and I admit I was skeptical. I am very happy I did go with Prefferred Financial ( they have many review on this site). The course is well worth the money and full of valuable information for any consumer who decides to try to settle their own debts as an alternative to bankruptcy.
Betty Mc.

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I never could have imagined that we could have cleared as much debt as we have in the past year and a half. We tried for many years to accomplish this on our own and obviously could not achieve these results. I used Preferred Financial and I never had a problem.
Most Sincerely,
JJ

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You are right about them creditors trying to get nastier and nastier. My talk with Preferred Financial helped me to say that I had no more to say to them. It gave me the confidence to be as tough as I need to be and as blunt as I have to be to get through this.

I committed myself with debt and can't afford the payments and are trying to avoid bankruptcy, you might consider using this company. I started with Preffered Financial 13 months ago. If you take your bills to this company, they will combine all payments into one . They in turn pay off those bills for you. They contact each of your creditors reduce the principal balances you are paying. It helped me pay off my bill s sooner but more importantly reduced the minimum payment amount, which will make your monthly outgo of bills more affordable.

If you're all about worshiping at the altar of the Great FICO then you might not do this. This is certainly easier on your credit than a bankruptcy. If you choose to go with a debt settlement company, it is your responsibility to check out the company that you go with. Beware and cautious when selecting one of these companies. I went with Preferred Financial and have been very satisfied with how this has been handled. They are very responsible with my money and I trust their judgement. They saved me over 5k on my Discover account.

I have used their services before and none of the creditors call us, they delt with pfs instead. We actually had no problems purchasing our first home while on the program. Maybe each creditor is different?

Thanks for the honest information. Some of these companies are good and some are bad. I have heard good and bad about many. I guess it just depends what your situation is. I mutual friend of ours used preferred financial so I feel comfortable using them pending our approval.

It has been close to 2 years ago but, my Ex-husband and I went thru these guys...Thanks to my EX they I was in debt up to my eye balls. Looking back, My Ex is the one who had all collections on him. However, they do do good work and I have heard good things about them thru others.

As you can probably fathom by posting here, I have experienced ...
...point where you I couldn't see a way out, ever. Many people had suggestion joining a debt management programme, pay plan for instance but seeing as at the time I worked in the finance industry, a lot of stigma and bad press is associated with such schemes and I was put off. They promise the world with slogans like" We will slash your debts by 30% and all you have to do is make one small manageable money payment". Sounded too good to be true so I looked into it. I found Preferred Financial and got some legitmate verfiable information. This program works that is the bottom line my debts are being settled and I have saved a good amount of money. I am extremley happy with the result.

have had poor credit for the past 2 years, i have 5 credit cards and in total my balance was almost $9,000. It got to the point where i had filled all 4 credit cards up and was maxed out, was spending more on trying to pay the creditors off than i was actually earning. It was a terrible situaiton and I just turned 25! I wanted to get things in order. I got scared because I started to ignore the bills and demanding letters coming to me threatening all sorts of "action"
I felt the only thing i could do with them was put them in the shredder and try to forget about them, hoping they would go away! Deep down i knew they were still there and i knew ignoring the problem could get me into allsorts of trouble, so as the birth of my first child neared i contacted Preffered Financial which claimed to get you out of debt by paying off all these bills for less than what you owe.
My daugher is now 2years old and we are just about finished with the program. It was a very scary scary step for me I won't lie but it was neccarry to get me in a better position. The company I went with really gave me the confidence to move forward with my life and not be so afraid. I would suggest this avenue to anyone looking to get out of debt fast and not spend a lot of money doing so.

Right, well in basic terms they are a debt relief business but they are also a charity! The fee is already factored into your payment and term so regardless of the fee I still saved thousands... thats right... thousands off what i owe!
it actaully gives you a way that still allows you to live!

- June.

I justed called them recently and enrolled the same day because they gave me advice that was free and impartial. It was pretty realistic advice they gave it to me the way it was. Not the run around like some other companies I spoke with. The company I used was Preffered financal.

I had heard about Prefferd Financial from my boss, he was having a bad time with his finances after getting married so had contacted them for help. During one of our regular chats at work I mentioned that things financially were starting to get a bit tight for us. He advised me to have a word with Preferred as they had helped him out in a similar situation and they could do the same for us. Well I wasn't keen on telling the whole thing to my boss so I just called the company themselves.
I spoke with them and explained that I was only working as a volunteer and was sure that a job was around the corner. Well let's just say things didn't work out like that it wasn't a few more weeks on benefits and to make sure that the kids had clothes and the things they needed I would put more and more on the credit card and then applying for another card to help pay my other cards off. Things were tight to say the least. I had a follow up set for the end of the month and call them early. The immedately reduced my payment monthly and got me on a plan that worked for my budget. I can explain well enough what a relief that its been to be a part of this program. I can actaully sleep well knowing that everything is being taken care of and I don't have to worry. Its been a blessing.

I don't wear rose tinted glasses. I didn't expect all the companies the jump up and down with joy when I went with a debt settlement service but I did expect better from Citi because I had been such a loyal client of theres for 15 years. When I needed my interest lowered in order to keep up with payments they couldn't have cared less. The are a billion dollar company and I just have one account. Preferred Financial was the company that I went with , they made citi actaully listen to me and acknowledge my hardship and I got a reduction on the principal and esstentially 0% interest. I just wanted to pay my bills! Preferred let us do just that.

I am amazed how easy this was to do. The credit card companies were overly zealous in lending me more and more credit cards. I have now got to the stage where I have asked all my Creditors to accept temporary reduced payments, while I try to build my business back up again. The refused to work with me. I was such a great payer! Every month , always on time, how could they not work with me? The were being unreasonable and making a killing off me in interest fees. I went to preffered financia too, and they contacted everyone on my behalf. I expect to pay out early from the program and I will have save over 20k +

This company was good beacuse they run through everything you have coming in and going out each month, preparing an affordable budget for you to live on. They can then negociate an affordable repayment plan. MY OPINION What can i say? The guy i spoke to answered all my questions , gave me advice and pointed me the right way...forward!

Its good to know that there is good help out there for people strugglin in these hard times.

It takes guts to admit you have a problem with debt and do something about it. Some people call this your lightbulb moment. I have a problem - its 60k's worth of problem and Preferred Financial is helping me to sort it out. When you build up the courage to do something about your debt situation, it can be hard to talk to someone on the phone about it. They let me fill them in all of my debt amounts, income and expenditure online and then gave advice as to what solutions could possibly help. I went with them and have not looked back since. My 60k problem is reduced and is manageable now.

Thank god for services like this. We came across pfs ( preferred financial services) in our hour of need. We had recently moved to New Zealand for a new job and things hadn't worked out as planned. We were struggling to meet our monthly payments and was using Credit Cards to live on We looked at different companies, but most charged huge fees with their program we were able to save alot of cash on a monthly basis most of which was going toward the revovling debt amounts that we had. We also got a reduction of varying %'s on all the accounts that we enrolled. We saved upwards of 60% off the most annoying and recurring balance with Chase. On our own we could have never done this.

I'm not an expert, but for some reason, this is a subject I enjoy reading about especailly because I am with Preferred Financial. Having some debts of my own, I'm always curious as to how people propose ways to get out of debt. For most people, debt is an unavoidable part of life, even if it is just a mortgage payments. Everywhere you go, you're bombarded with credit. Need some new clothes? Why not pick up a storecard and get 10% off your purchases today, & pay them later? Need new electrical items? Why not buy now, & forget about the payments til next year? Even the supermarkets are picking up on this trend with their banking services, including credit cards. Debt is so tempting and I got involved to the point where I couldn't handled it by myself any more. I found that by being committed to this process I am able to get out of this debt in a very contructive way. I thank everyone here for there comments, there very interesting. I'm glad to see that this company has been doing good things for people and my personal interest in this company goes beyond just myself. I also have reffered others that need the same help.

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It has been about a year and half since I first joined Preferred Financial. It wasn't one of my best times in life, in fact, I think it was one of my worst, but it really enabled me to turn my life around and save more money than I thought was possible. Why is that? It's very simple; Americans are drowning in debt and desperately scanning the Internet for a lifeboat. If you are lucky enough to find a good company like pfs then take the oppurtunity and stick with it. I have no regrets and I am very thankful for what they gave to me. My life back.

Several companies had contacted me. I can guarantee it wasn't all great companies that I was speaking with, one guy actaully hung up on me when I asked them about the fee. It was the amazing claims of some of these companies. I decided to get into looking into this myself and I found preferred Finacial Services. I had a real desire to be debt free while still having it all. The woman I spoke with was very up front with me and gave me all the pros and cons' and some information to review. I appreciated the frankness and the openness of that approach.

It's always a little embarrassing to admit that you've let your debt get out of control, but it isn't always your fault. However, it doesn't make a whole lot of difference how you get there, once your there, you still have to find a way out. Preffered financial is a great company that allows us to budget around our payment and takes EVERYTHING into consideration. They are very detailed. I joined them in late May of last year and I am very pleased with the results thus far. Honesty makes all the difference and they have my seal of approval.

At first I tried to do it myself - Tighten my belt and make more than the minimum payment on at least one card until it is paid off and then take that money and apply it to the next highest interest rate and so on and so on. Then .... I relized that this was going to take me alot of time and extra money that I definately didn't want to spend unneccarily.

I contacted PREFERRED FINANCIAL we did out the math and I saw very clearly that their program was the most cost effiecent way to go. Im very happy with the service I recieved. It was the best way to go, I wisely decided not to waste anymore time and money on these cards. It's just not worth it.

This program specifically got me interested because they have a Credit service there that corrects your credit report. You can re establish and move on which is perfect.

[QUOTE=Anonymous;700300]At first I tried to do it myself - Tighten my belt and make more than the minimum payment on at least one card until it is paid off and then take that money and apply it to the next highest interest rate and so on and so on. Then .... I relized that this was going to take me alot of time and extra money that I definately didn't want to spend unneccarily.

I contacted PREFERRED FINANCIAL we did out the math and I saw very clearly that their program was the most cost effiecent way to go. Im very happy with the service I recieved. It was the best way to go, I wisely decided not to waste anymore time and money on these cards. It's just not worth it.
This program specifically got me interested because they have a Credit service there that corrects your credit report. You can re establish and move on which is perfect.[/QUOTE]
We decided to use the do-it-yourself method to get out of debt back then, but it didn't work too well. I've learned much more about debt. I've learned that it isn't as easy as everyone says it is to get out from under, especially in a recession. It's not fun to try and get out of debt, despite the good feelings you know are coming when you pay off that final credit card. Preferred Financial got us out of our debt. We were on an excelerated progrom ( ask them about it!) we were out of debt completely in 9 months. Such a relief!

After my husband's pay was cut, we tried to keep our heads above water and hide our financial troubles from family and friends, but after 6 months, there was just no denying it. I once again looked into BK but we really didn't want to do that.

After another agonizing month, we decided to take the big plunge, we found Preferred Financial through a trusted family friend who was enrolled with them as well. Since we felt obligated as good consumers to repay our debts ( but not so much interest fees etc!), we opted for their program. There are a lot of advantages to this kind of program that is not common knowledge.
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The programs offered with Preferred Financial was a great option for us and saved us from a BK and from all the hassel and anxiety that we were faced with.

[COLOR=black]The team at PFS actaully keeps you from getting deeper in the hole and gives you 3-5 years (depending on your plan length) to learn to live on cash and a budget. I can't describe how good it feels to be doing somthing pro active. I am soooooooooooooooo DONE with Credit cards. They told me that I could get new ones once the program is over...no thank you. I learned my lesson. I will be debt free this year![/COLOR]

Preferred Financial's program is really easy. You almost can't screw it up..haha..seriously! You make monthly payments to their Agency for several months, your debt counselor negotiates with your participating creditors to have your accounts reduced and the status updated to current on your credit file when it is resolved. This will go a long way in keeping your credit file in decent standing while you get out of debt. GREAT PROGRAM YA'LL!