ComplaintsforSilverLake Financial

• Initial Complaint

  07/31/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  They were supposed to negotiate my debt. They did nothing. In fact my accounts went unpaid while they took money from my checking to cover the costs of the negotiated debt. I canceled their services and now no one will call me back or return an email about getting the money they have of mine in escrow to pay what they never did

  

  Business response

  08/05/2024

  Hi ******! 

  Thank you for giving us the opportunity to assist you with your concerns! We are happy that we were able to provide you with some peace of mind. 

  Please do not hesitate to reach out if you have any further questions. 

  Thank you! 

• Initial Complaint

  07/16/2024

  Complaint Type:

  Order Issues

  Status:

  Resolved

  More info

  Paid ******** only received $1,033.69. Followed up multiple times via emai, called multiple times, no call back. No further refund. My credit score was absolutely slaughtered by their lies, promised to fix my credit score within 3 months, didnt make a single payment of what I paid to any of my Debt collectors, was lied to and told if I could afford to keep making credit payments to do so meanwhile this is not how it works. I had to take money out of my retirement to catch up on payments and I am still no where near where I was promised. The damage to my credit score, draining of my retirement to fix what they did, and lack of response has caused severe emotional damage as well as damaged my reputation. I demand a full refund and additional compensation for the damages caused. I can send copies of all of the other documents as well as recordings. This is unacceptable behavior and taking advantage of customers. If you read other reviews this has happened to multiple other clients as well.

  

  Business response

  07/22/2024

  Hi there, ********!

  Thank you for taking the time to share your experience with us. We deeply regret any frustration or inconvenience you may have encountered and appreciate the opportunity to address your concerns.

  We are glad we had the chance to speak with you recently, and we hope we were able to provide the answers you needed. Should any additional questions or concerns arise in the future, please do not hesitate to reach out to us. Your satisfaction is our top priority, and we are here to assist you in any way we can.

  Thank you for your patience and understanding.

  
  

• Initial Complaint

  07/10/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  I called for a personal loan I was told I prequalified for, it didnt end up working out and they got me signed up for debt relief consolidation but after signing up, I spoke with my husband and looked into it then within 30 minutes of finalizing everything I spoke with the agent and asked to cancel (which they indicated was allowed with no penalty). He assured me it would be cancelled immediately and the charge would not be made to my card however just a few days later hundreds of dollars for that service came out of my account and no one at the business will take my calls or return my messages. As soon as I indicated I wanted to cancel, communication completely stopped.

• Initial Complaint

  07/08/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  I signed up for Debt consolidation through Silverlake Financial. The plan sounded great but after reading the contract, I realized my credit score was going to take a significant hit and my plans would have to go into collections before my account was negotiable. I called to cancel my account within three days. I still do not have my account canceled. I am being given the run around and told someone would call me back. No one has called me back.

• Initial Complaint

  06/21/2024

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  I get offers all the time in the mail and finally used the access code to claim my offer. I initially signed up but after asking some research I told them I want out of their services. This all happened in the span of 3 days. They were communicating with me up until I mentioned canceling. Now they aren't responding. I'm hoping to have it resolved before the 1st initial payment is due so I don't get charged for debt settlement services I do not want.

  

  Business response

  06/26/2024

  Hi there, ****! 

  I see that you were able to speak with one of our supervisors and he was able to address and resolve your concerns. If there is anything else that you need assistance with, please do not hesitate to ask! 

  We appreciate your patience. Have a great rest of your week! 

• Initial Complaint

  06/06/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  This company provided me completely false information. I received a letter in the mail stating I was pre-qualified for a personal loan for credit relief. When I contacted SilverLake to inquire about the loan I was told I did not qualify but I did qualify for "debt solutions." They failed to tell me that by signing up for their services I would have to let my credit cards go into default for ****** days in order for them to settle the accounts, which is how they negotiate a lower payment. I paid over $1000 to this company before I realized I had been scammed. When I called to cancel I was told I could not do so and their "concerns" department would contact me for further conversation. My credit is good and I am good standing with my creditors. This has to potential to cause me irreparable credit harm and I have no recourse to get my funds back. This is overwhelmingly predatory behavior.

  

  Business response

  06/12/2024

  *******,

  Thank you for your feedback. We sincerely apologize for any confusion or frustration youve experienced. Our team has attempted to reach you by phone, but your voicemail box is full. Additionally, we have sent you a text message in an effort to connect and address your concerns.

  We apologize if there was any miscommunication. Please contact us back so we can assist you further.

  We value your feedback and are committed to addressing your concerns promptly.

  Best regards,
  Customer Service Team

• Initial Complaint

  05/22/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I recieved a notice that this company was offering a personal loan, however, upon speaking with a representative who agrees to take my application over the phone he quickly changed his position after i explicitly stated that I was not interested in a debt settlement program. The rep stated that I would have to apply on-line. This company appears to engage in misleading and defective practices.

  

  Business response

  05/28/2024

  Hi there,

  We sincerely apologize for the experience you had with Silverlake Financial. Your feedback is crucial, and we are committed to addressing and resolving your issues promptly.
  We are so sorry that you feel that the information provided was misleading and did not align with your expectations. We strive for transparency and integrity in all our communications.

  A senior supervisor has tried getting in contact with you. To better understand your experience and to address any remaining concerns, please contact us back. We want to ensure that your feedback is properly addressed and that any issues are resolved.

  Once again, I apologize for any inconvenience caused, and we appreciate you taking the time to provide us with this feedback.

  Thank you.

• Initial Complaint

  05/08/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I have been contacted by SilverLakes Administrator, ************** regarding a loan I have not applied for. I need this resolved immediately. Thank you.

  

  Business response

  05/14/2024

  Hi there, ********! 

  I believe you are referring to a different company. We have been getting confused for another company similar in name with us recently. Please give us your details so that we can confirm if you are client of ours.

  Thank you! We look forward to hearing from you! 

• Initial Complaint

  05/02/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  SilverLake Financial sold me on a complete lie. After a full "consultation" about my options for debt resolution, I was told there was only one choice and was sent to a debt consolidation company, Clarity Debt Resolutions. What I agreed to is not at all what is happening after making monthly payments to them for 6 months. I cannot get in touch with anyone at SilverLake any longer, and Clarity gives me a bunch of false information each time I call. They cannot explain what is going on. I was told my credit score would take a small hit and to stop all payments to my creditors, and now my credit score has been demolished and only 1 creditor has actually been contacted and paid. They then removed over $800 from my account with no notice and cannot provide a clear explanation. I have been requesting to cancel my account and refund everything that is owed back to me. However, they say only my account specialist can do that, who I've never heard of, and they cannot provide a name or phone number for this person. What a horrible experience. They completely take advantage of people who are in financial hardship and need assistance paying off debt. I am absolutely furious.

  

  Business response

  05/04/2024

  Hi ******! 
  

  We are so sorry to hear of your negative experience. I see thats we were able to speak with you yesterday to address your concerns. We have started the cancellation process for you and have submitted the request for a refund. Please do not hesitate to reach out to us directly and we will be happy to provide you with updates. 
  

  Thank you so much for your patience and we apologize for your experience! 

  Customer response

  05/04/2024

  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution would be satisfactory to me.  I will wait for the business to perform this action and, if it does, will consider this complaint resolved.
  
  Regards,
  
  *************************
  
   
  

• Initial Complaint

  04/30/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  Received several pieces of mail stating that I have been qualified for a personal loan to consolidate/resolve debt with high interest credit cards. Upon completion of the application and receiving a "congratulations you are pre-approved" notification, I received a call from a representative who also stated I was pre-approved and that it needed to go to underwriting for final approval and he would call me back later today and inform me on the "loan package". However, when ****** called me back, he informed me that the loan was off the table and that they would provide me an opportunity to enroll in the fresh start program, which is a debt restructuring wherein the company negotiates a reduced settlement with the creditors and receive a fee for the settlement (collected from the payoff of the debts) settlements are often far less than the actual debt. Clearly a different product and service. And clearly a more profitable product/service for Silverlake than providing a straight up loan to which they are only collecting the interest. It is mind blowing to me that companies will continue to market this, over and over and then come back to someone trying their best to get out of an already negative situation and use that vulnerability to offer a totally different solution than what was advertised.

  

  Business response

  05/04/2024

  Hi there, *****!

  We sincerely apologize for your negative experience with us. This is not the service we aim to provide and we would love to speak with you directly to hopefully come to a resolution for you! We have been trying to contact you but each time our supervisor gets you on the line, you hang up. 
  

  Please contact us back so that we can assist you with this directly. We are happy to help! 
  

  Thank you!

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩