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

Its good to be prepared for Preferred's program. It will enable you to get enrolled quick! Estimate all main bills like water &gas & electric and have a list of all creditors what owed to them, account numbers, monthly payment. It's kinda mind blowing when its all down on paper. When i added them all up i realised i owed over 15,000 i was never going to get anywhere if I kept up what I was doing. UGH! So I enrolled with preferred's program and its great to feel like I'm actaully going to resolve this! 36 months or less which is a hell of the lesser time than 20 years!

The guy i spoke to answered all my questions , gave me advice and pointed me the right direction. They do say do not be pressurised to making higher payments than you can afford. They were great to me and my family.

Working with Preferred Financial has been a godsend for us and probably for many other people. Both the calls and letters from our creditors have nearly stopped altogether and those we do receive are usually for an update to see if they can get more money. They allso give great debt advice on how to cope with other finances so that you can relaly be debt free.
We would recommend anyone to use the services of Preferred financial to help them get back on the right track

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I liked the way they run that company. Just great relief for normal hard working people. Clearing your conscience, taking a huge weight off your shoulders, getting on with your life and realising things arnt as bad as they seem!

This is a non interest debt consolidation plan... Yes, honestly! They take the interest off completely! Apply my money where it counts. They take your complete financial life and make it workable agian. Totally worth their fee btw , which is nothing compared to the money they saved me.

I decided to keep my focus on the problem at hand....how in the world was I going to pay off this overwhelming debt. I was very much so at the point where I needed help from a company that would "settle" those debts for me, I wasn't behind yet but I couldn't get a loan to save my life, my credit already had been damaged. Aigan, m,y main concern was to focus on how to stop the damage to your credit and begin to pay off your debt.

No soliciting program was able to settle my debts for much less than what the credit cards was saying that I owed. In a legitimate program ( like Preferred) a certified counselor will examine your income and expenses, review your debts and discuss your options. He or she will let you decide what is best for you.

My partner and I were also told by PFS not to have contact with any of our creditors.

If you are struggling with monthly payments, but can still qualify for a home loan....please look into other options first (Consumer Credit Counseling).

When my other half first started doing business with PFS, we were able to still qualify for a home loan. Because of economic hardship (interest rates rising beyond belief), we could no longer pay the monthly minimums (we had been paying more than the minimum on each card).

My understanding from my partner, was PFS was paying our creditors (or at least communicating with them) monthly, on a regular basis. The harsh wake up call I got (very sobering), was receiving my first summons (with many to follow) from of our creditors!

I blame myself...I could have avoided the years of problems this is causing, and had a HUGE fight with my other half instead.....I won't lie, it would have been very very painful, but the problems that would have resulted from it, would have only lasted days (worse case scenario).

If your credit is already in the toilet, be my guest...hire a financial settlement company.

The best advice I can give is that if you can still qualify for a home loan, STOP.....go to the top of the nearest mountain top & SCREAM for as long as you can & as loud as you can. Then have some tea (or what ever calms you), meditate, for as long as you can & blow into the bubble. The next day, collect all the creditor info...Names, account #'s, Phone #'s, balances, minimum payment & then contact Consumer Credit Counseling who I'm told charges 75.00 consulting fee & 20-30.00 monthly thereafter. Bonus, your credit will be in a lot better shape, and you will not receive a summons.

Hmmmm.....Let's do the equation.......have the hard discussions with your other half, and have the BIG, LOUD fights, and have problems for days, or......keep the peace in the house, say nothing....wait for the summons(s) to arrive, and have YEARS of problems that no phone call or letter can fix. In the end, you do the math.

Do not use this company.
My husband and I are worse off now after being with them for almost a year. We are being sued by creditors since we stopped making any payments on our cards per their instructions.
We are now going to drop their services and have no choice but do the thing we were trying to avoid......declare bankrupcy. All thanks to them!
And, we are out thousands of dollars that just went to their fees.
The people who work there are also rude and very unprofessional and seem to enjoy others peoples missery. I was so upset on the phone with them, after finding out I was being sued by a creditor, that I started to cry and the girl I was speaking to had the audacity to laugh at me. This is my husband and my lives they screwed with and messed up!
I wish we had been warned before we signed up.

We had a great experience with this company.

If you have the abilty to follow simple instructions then you will be fine. Its the people that don't follow direction that are having probelms. Preferred took care of us and my family is better for it.

If you have an IQ over 2 you can be happy and content with the work that they do. My advisor is great and held my hand through this process. Fully explained and helped us through everything. I can't stress enough how easy it was. Really.

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I always get great service with Preferred Financial..i reffered my daughter who is in the military and they gave her a discount for her service to the country. They are a very patriotic and american based company that gets the job done! They don't outsource like those other huge companies do, I'm just starting the Credit fix portion of the program where they update my credit report and make sure those suckers don't try to say I didn't pay!! I will get a copy of this when I'm done and be able to get credit whereever i want too! YES!

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I think that it is important to remember that we got ourselves into this mess! they assisted us in both planning to buy a home as well as being an excellent resource to for the latest financial news or changes to legislation. They taught us a new way of paying off our bills with 0% interest and they are also savings us about 10k off the balances that we have which is significant. Financial planning is important for our future and im happy that we went with preferred, all the other company's were not up front or as educated as the staff there. We are satisfied with our decision to save money and get out of debt!

This is a decent company. You can offer bogus promotions and tell consumers what they want to hear to bring in as many new customers as you want, but unless you can get some of those customers to come back, your business won???t be profitable for long. I was referred to them by my mother in law who had a successful program with them as well. That was five years ago and I think that speaks volumes about the company.
Good customer service is key and it keeps bringing customers back and has me now referring a colleage of mine to the program as well. We are very happy ??? happy enough to pass positive feedback about Preferred Financial along to others.

The essence of this program is forming a relationship with their clients – a relationship that that individual client feels that they would like to pursue. My Advisor with PFS was very educated on all aspects of my situation. Without this company we would have had a payback that was 20 years long, because we got quailfied for a 4 years program we saved a huge amount of money ( which is always important!) and have been very satisfied with our results.

I actaully left another company and then signed up with Preferred. Plain and simple, the biggest reason I like them is because of their reliability. I beileve that this is one of the keys to their success with me, and good customer service is what I was impressed with as well. If they said, “Your paperwork for the settlement will be there on Tuesday”, they made sure it was delivered on Tuesday. The same rule applied to our appointments, deadlines, etc.. This is so important because nothing annoys memore than a company not having their priorities in order, they relaly know what they are doing. I left that other company ( whose name I will not mention) almost a year ago and I'm thankful I did. Preferred Financial has good solutions for seemingly dismal situations. I will be done with the program in another year.

I left Credit Solutions ( another settlement company ) for Prefferred!!! I completly understand what you are saying!!!!!Is there anything more exasperating than telling someone what you want or what your problem is and then discovering that that person hasn’t been paying attention and needs to have it explained again? From a customer’s point of view,its awful! Thats why I switched. CREDIT SOLUTIONS WAS TERRIBLE.

Preferred was like a breath of fresh air let me tell you! THey let me talk and really showed me that they were listening by making suggestions about how to solve the problems that i was going through. They always give sound advice. If you are with another company and they aren't working for you ... i'm telling you to change over to preferred its such a relief to have people who are invovled and care engaged in your situation!!!!!!!!!!!!!!!!!!!

all i can say is that they are pretty good at what they do.. BOA 66% off...my chase is settled for 65% off with no interest, better yet, I am waiting to see if he can get me 70% on my other BOA account. I know too that if i ever had any questions about it, or further needs that I would be able to talk to one person..not transfer all over creation... just my one guy that deals with just my accounts and whatever the extra step may be he'll do it so that we can take the deal. I really notice when people make an extra effort on my behalf and definately when they are saving me extra money. I give kudos to this company.

Interesting research to note! Preferred Financial Services is a company up to date with all regulations and that is what makes them so successful. It is the hope that other companies will follow suit with their example. While other companies concentrate on marketing fluff and strategic hyperbole, they actaully get the work done that needs to get done. A true sign that change that has come to the world Debt Settlement is that you start seeing companies getting shut down. This company has been in biz for 8 years and is one of the only companies already in line with regulations in the industry. I've done my homework for my daughter who joined there program 5months ago. It is very important to make sure you choose a good company and this one is.Very good benifits and they are full diclosure!

Their program is so basic and a really good way to help ease the stress of debt. I am pretty much done wit my program just finishing up payments with a large best buy bill that i had and then i will be done. They are safe, certifed and accrediated and aduits done on them so that i knew they were safe to use as a resource.

started using them. No complaints thus far.

Believe it or not, a lot of people that are not aware of their interest rates. I ran my CBR and:D realized exactly where my money was going each month, and it was not pretty. I was working hard and getting no where becase of high interest. Basically paying interest on top of interest. I decided to do somthing about it and went to Preferred Financial. THey gave me a detailed breakdown of my monthly payments, amount of interest and how much each monthly payment affects the total outstanding balance. They really know how the banks work and they represented me as I entered into a 24 month program. It's going to be less time than it would have taken me on my own. I am really really happy with the results thus far.

There program takes all your accounts and wraps them up into one payment and it doesn't kill your score either. Although I know that there are no quick fixes when it comes to my finances this program helped me make a very established plan. I had thought that Bankruptcy was the only sensible option but after I talked with some people down there I found that the program there would make me able to avoid it all together. I have had amazing results in this program. I am sooooooooooo glad that I didn't have to do somthing drastic.

[FONT=Trebuchet MS][COLOR=#cc6600][COLOR=#cc6600]When I knew that I couldn't put it off any longer and was consistantly running into difficulties making ends meet this company helped me get it together. They will work with you and get the job done. I finally had that weight lifted off your shoulders and I could get back to the things that mattered. [/COLOR][/COLOR][/FONT]

I went through credit counseling, first.. what a waste of time! The alternatives can be confusing but i know that CCCS have the credit card companies interests at heart not mine or my familys. So i contacted the United States Organization that audits Settlement Companies, they gave me a list of companies. All in all, Preferred Financial had been in biz the longest and have a much better success rate than most companies. It was comforting to me. I called them and went through my options with my advisor ( her name is Sharisse if anyone wants to talk to someone!) she went over everything with me and I sat with my husband and decided that indeed Settlement was our best option. Its the only way to save any money and get out of debt fast. We are confident and excited for the future, we have saved over 5 grand and we have been in the program for about 9 months now.

When it comes to Settling debts this company is really good. Looking long-term we will save 44 thousand dollars off what is owed. Preferred Financial Services didn't wait, they contacted Sams, Discovery, 2 Chase cards, and the hospital i owed money too and started to get my balances down. I never got any creditor calls. This company negotiates with creditors on your behalf and reduces the balance you owe. Saving time and money is always a good thing to me. The savings is substantial. We are estatic that we choose this way to handle the situation we were in. :D:p - Linda & Mike

call 866-833-6398 they can get it settled for 20-30 cents on the dollar.

Thanks for the warning,i recently rec'd a client worksheet and had seriously given it a thought to enroll,am glad i read the comments,etc

This place is a scam BIG TIME, alot of the so called "good reviews" are done by their own employees. I'm completely appalled! They completely misled me and my family. We lost our house, my credit is ruined, I couldn't even co sign for my son's college loan and was forced to ask my husbands family to help EMBARRASSING! I sunk so much money into this company and when I asked for a refund they couldn't even do that! I'm furious. Please, if you are having second thoughts about his company its got a very good reason. DO NOT JOIN THIS COMPANY> they lie through their teeth. The person that I signed up with is now gone! I have to fight to get an answered about my case. We have two pending judgements and did everything that we were supposed to do. We are just devastated by this.

The "general manager" if you can call him that is Gabriel Taverez and he is the worst of them all. Completelly unprofessional, hung up on my husband when he asked for the refund. He is condescending and seems to get too much self worth from messing with peoples lives. Its awful. PLEASE PLEASE PLEASE dont waste your time and money like we did.

this place is not for real. They will try to tell you that there BBB rating doesn't matter, blieve me it does. They just have sketchy sales people that can barely speak english trying to tell me what to do with my finances. My attorney advised agianst this company specifically because they are known to mis lead and silver tongue people into giving them money that they don't have. I agree its a scam. The have a big fat F with the BBB. Look it up.

i usually don't write complaints but I agree this company is outrageous. I looked them up too. This industry as a whole is unreliable. Either do it yourself or file BK. They prey on peoples hopes that there is a " quick fix" to your finances. THere is not. Do it yourself because this company is worthless. They can't even guarntee that they will be able to settle anything, all they have is there word and they will try to convince you that it is worth somthing but it isn't. I write this complaint on behalf of my elderly mother who they completely took atvantage of. I often asked myself what kind of people would do that but from what i've read here i think i understand a bit more. I finally got us a refund but we had debt collectors calling her all day and night 20 times a day. She had to be hospitalized because of the stress with her health already in delicate state. No sympathy or concern from PFS whatsoever. I had to jump through hoops and then threaten to get our lawyer involved to get our money back. Truly awful experience.

Awful scam scam scam i've gotten sued three separate times

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I have never used PFS services, but I know for a fact none of the three you mention are felons. You are a liar. Plain and simple you have some sort of vendetta and have decided to attack them personally with lies.

I would FLAT OUT tell anyone and everyone that will listen NOT to use PREFERED FINANCIAL company. They lie and tell you they are going to take care of your credit and they don't take care of anything but ruining your credit. When I started with this company I had GREAT credit my payments were on time, but I figured if I could save money and pay off my debt faster it would be a wonderful thing. WELL let me tell you, I am now facing judgements and my pay offs are out of sight due to all the fees the credit companies are imposing. One of my credititors was only 4500.00 now because of Prefered Financial it is now over 7500.00 and I now have a judgement and PF are trying to settle it for 5000.00 WHAT A JOKE, more than what I owed to begin with. I am going to take the advise of many people on here and call the Attorney General in my state as well as the BBB in my state and the FTC. Ms. Jade Mason if you read this post, I can tell you that you RUINED my CREDIT. All I heard was don't talk to anyone that calls your home, don't respond to anyone.... "we handle everything" Well you handled it alright. Please take this advise DON'T USE PREFERED FINANCIAL !!!!!!

;)from a collector point of view, if anyone tries to threathen to take you to court than they better have a leg to stand on. because by law they can not threathen to take you to court unless they are going to take legal action right then when they get off the phone with you. if they do not take legal action and they said they where taking you to court and dont than you can turn around and sue them for saying it, that the FDCPA laws. record them next time it happens and remind them of the laws.

They are horrible. Their customer service is lousy, they do not stop creditors phone calls as they promise, they do not return phone calls. They take your money and put it in to your "trust account" that there is a 15% maintenance fee on every month. Their "managers" are rude, have no communication skills, and pass you on to someone else every time you call with a question. This is a scam. They are taking peoples money and not delilvering their promised services. I have found a class action suit that is being prepared to file that I am considering joining. DO NOT USE THIS COMPANY

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:confused:

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