ComplaintsforStart New Financial

• Initial Complaint

  03/05/2022

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  I entered into a contract with Start New Financial in 2020 to assist me with a debt settlement of all my creditors. In February of 2022, I received a copy of a Request for Entry of Default from ***** *** ***** (representing ***** *****). I immediately emailed it to Start New Financial on 2/18/2022 and followed up with a call to them to confirm they received it. I was told it would take 24-48 hours for the email attachment to be uploaded into their system. I then called again on 2/25/2022 @ 9:00am and spoke with Jody at SNF. She informed it was not received and to call back later that day. I called, again, @ 4:50pm and spoke with Norma of SNF. She informed me they still have not received it and suggested I email it again in which I did that same day. She also told me that someone from their Priority Team would reach out to me once the document appeared in their system. I double checked my emails to make sure the emails went through and they did. I, again, called SNF on 3/1/2022 @ 8:30am and spoke with Cody. He informed me they are still waiting for the documents to show received in their system and that it should appear by the end of the business day. On 3/1/2022 @ 1:10pm, I called Andrew C******* in the ******* ********* ***** ** **** ******** ** ******* (the company that connected me with SNF). I explained my situation and frustration with him. He told me he would email a supervisor in the Negotiations Dept of SNF and ask them to call me ASAP. On 3/2/2022 @ 4:40pm, I spoke with Angela of SNF and she confirmed the document now appears in their system and someone from their Priority Team will be called me in the next day or two as they are gone for the day (they are located in ******** and are EST). On 3/4/2022 @ 8:37am, I called SNF as no one has returned my call or reached out to me at all. I am just trying to find out what I need to do next as I know time is of the essence. To date, I have not received one call from SNF since 2/18/2022. I am furious! Please help.

  

  Business response

  03/09/2022

  
  *****,
  
  Your file shows you spoke with one of our paralegals from the Priority Department on 3/4 regarding the summons. Our paralegal went over the summons details, and options available to you.  Based on the conversation and the status of your settlement plans you are pursuing a takeout loan. If you would like to speak with the priority team again you can contact Customer Service and be transferred to the priority department during business hours to go over questions or concerns. If you need anything additional please let us know.
  
  Thank you,

  Customer response

  03/09/2022

  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  ***** ******

• Initial Complaint

  02/24/2022

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  ****** ******* account #**************** and Start New Financial have NOT resolved any of my accounts as promised. I have consolidated 3 accounts with one (********* ** **** **** Enrolled Balance : $1,053.00) and no settlement. I am paying monthly $526.00 (total of $6,382.25 has been paid) and I was told that with in the 6 months something will be worked out. I have called several times in the last 3 months and keep getting the run around. I also requested to get a copy of the "verbal" contract in writing and got in the mail a WELCOME PACKET. I don't know how they came up with the monthly payment amount and according to the "website", the projected end date November 2023 (totaling $18,936). The total amount in the accounts for consolidation is $16,982.00. I feel like this company has taken advantage of me and my situation. I am not getting anywhere with this company and my credit record is not getting any better since I thought this would help get me back on track. All I am is losing monies that I can you to pay off these accounts and or file for bankruptcy. I go to their website and no document are ever added. Have requested to get a written statement from them in how the amount was concluded and nothing. I feel like because I am hispanic and don't speak or read English good, I am being take advantage of and being ripped off. They keep saying just call back in 15 and we should have something. I have stopped February payment because I refused to keep paying monthly and getting nowhere with Start New Financial. They have not been able to get any accounts "released" or not enough money was in the account to move forward, yet I am paying $526 monthly for over a year. Please help.

  

  Business response

  02/28/2022

  *****,
  
  You enrolled into our program under the name ***** ****** however, your creditors have you under the name of ***** ******. This is a problem because the authorization that you signed doesn't reflect this name, therefore your creditors aren't recognizing our company for an authorization to work your accounts. We should be able to resolve the ***** ***** as soon as we have the proper documentation from you. Our Customer Service team is reaching out to you to correct the name on your contract. Once corrected we can move very fast on your file.
  
  Thank you,

• Initial Complaint

  02/23/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I hired the ************************** Start New Financial. I have had this company since 2019. When I initially enrolled I was not made aware of a 25% service fee for all accounts the company establishes settlements for. When I entered into agreement with this company none of my accounts were in collections. I was told not to make anymore payments and any negative correspondence from my creditors should be directed to them. I was not told that all my accounts will have to go into collections before a settlement amount could be negotiated. This as you could imagine destroyed my credit due to the missed and bad payment history this advice created, to so call get me to settlement amount. One of my accounts I was told to default on. The company Discover, then decided to *** me for the amount owed. SNF charges monthly fees from your monthly payment to provide legal representation in the event a creditor takes you to court. Well, Discover took me to court and I was given zero legal representation. Long story short the law office that took me to court also refused to discuss any details of my case with me, and said they would only speak or communicate with SNF. I contacted SNF for information on my case and they provided zero details on my case. I was asked to sign a court-ordered settlement of which SNF lost. The law firm then placed a judgment against my home and I only found this out after I tried to refinance my house and the title company Notified me of the judgment. Next, here I am at the last payment of my judgement and SNF says I owe an additional **** dollars for service fees for getting an settlement amount and (judgment against my house) before I am free and clear. This company is not honest and practices poor to zero good business ethics. At no time was I told about a 25% service fee and no time was I told I would have to destroy my credit history on all my accounts before they could help me. I was taken advantage of, manipulated and lied too continuously.

  

  Business response

  02/25/2022

  *****,
  
  Start New Financial does have fees associated with our service, this is gone over on your enrollment call, welcome call, and can also be found on page 2, and page 6 in your contract. We have settled your Discover account ending in ****. This settlement will be completed in March of 2022, once the final payment clears the judgement will be lifted and the account will reflect a zero balance. Most clients see an improvement in their credit score once settlement(s) are paid off and reflect zero balances. A copy of your stipulation detailing the agreement of the Discover settlement has been emailed to you, and we are having a supervisor reach out to discuss your account as well.
  
  Thank you,

• Initial Complaint

  02/15/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  The company is a debt consolidation institution which gathers debt for processing. They contacted ******* ******(elderly lady with limited resources) online, and opened an account to consolidate and pay debt that is not in default and without her knowledge. They are making it excessively hard to cancel the account and are attempting to withdraw funds from her limited finances without her or her estates approval. All of this was done online over the internet fraudulently without her approval. This issue occurred February 2, 2022. Funds were attempted to be withdrawn on February 12, 2022.

  

  Business response

  02/16/2022

  ********

  Your account has been closed with our office.

  Thank you,

• Initial Complaint

  01/26/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  This business is a complete scam. They hide monthly fees, they hide there expensive charges and lie how the program works. They use words like federally regulated to make it feel legit, as the take your money and take there sweet time actually resolving your debt. 4 months later and they have paid $100 towards my debt put of $1100 I have deposited., with another $400 gone to their fees!

  

  Business response

  01/27/2022

  ****,
  
  I apologize you feel this way. I show your account has already been closed with our offices. Debt settlement is a federally regulated program, and Start New Financial is not scamming consumers. You enrolled 5 debts into our program and were enrolled for only 4 months. In those 4 months we settled one debt, the settlement was completed and the ONLY fee Start New Financial took was $156.00 for this settlement. The remaining balance in your escrow account was refunded to you in the form of a check on 1/26/2022. You should receive your refund check in 5-7 days of the date the refund was mailed. If you have any questions regarding your refund, or the status of your funds you can contact your escrow bank directly.
  
  Thank you,

  

  Business response

  02/01/2022

  ****,
  
  Start New Financial did not take fees outside of $156. You can contact your bank and get a detailed account summary of every dollar that came in and out of the account. You may be referring to the banking fees charged from ********* ********* ************. If you need assistance getting your transaction history you can reach out to Customer Service.
  
  Thank you,

  Customer response

  02/01/2022

  (The consumer indicated he/she DID NOT accept the response from the business.)
  Again,this is not true. You charged monthly fees that again you are not explaining, full blown scam! And no you did not pay one of the debts, you only paid 1/3 of one of the debts, which was around $100. So I paid $156 for the 25% of total debt charged and $25 monthly and $11 monthly, so another $140 in fees. This just proves that your company is a scam and you take your sweet time to settle debts. SCAM!!!

• Initial Complaint

  01/22/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  In Sept of 2019 I enrolled in the debt paydown program of Start New Financial based in ********* I put a total of 11 credit cards in their program and they assured me that they will negotiate better terms with the creditors to reduce and eliminate my overall debt. We agreed on an amount that they will withdraw from my bank account, in the amount of $1187.00 on the 19th of each month, to cover the long term payments to the debt service. In April of 2021, I told them that I wanted to pay off all the debts. They gave me an amount, I sent it to them. They told me on April 12th, that I was all settled and finished. However, in November of 2021, I noticed they were still taking out the 1187.00 each month for a total of $9496.00 after settlement. I called them about it. The woman told me that it was in an escrow account and they would send me a check. After a few weeks of not receiving a check, I called back. They said the account was not closed because $350.00 was still owed to one creditor. They never notified me of this, gave me the runaround, told me to call the bank that handles the finances, which I did, only to find out they (Start New) were taking out fees every month, after the account was supposedly settled. Then, when they paid the final payment, they took another huge fee out of the escrow account in December 2021. They finally sent ma a check for 5305.34. That's $4190.66 short of what they took from my bank after my debts were settled. They refuse to give the the rest of the money and insists that they can't refund fees. Why are they taking out fees from an account that was supposed to have been closed? Why was I never notified of any of this? How does a bank that's owed money not ever contact them? It's all shady. They had a financial trough and just took fees from it. It's unethical and appears to be criminal. I would like the rest of my money back. Please help. Thank you.

  

  Business response

  01/24/2022

  *******
  
  Your account has been reviewed and there have not been any excess fee's collected, and you are not owed an additional refund. In fact we gave you a fee reduction of 7%. The fee for our service in the state of ************ is 25% however, we reduced our fees to 18% for our service. You were enrolled in our program for 25 months and we collected a total of $43,262 over this time period. We resolved $57,218 in credit card debt for an average settlement percentage of 46%. You completed your program on 12/20/2021 and received a refund check in the amount of $5,305.34. We resolved $57,218 in credit card debt for $37,956.66 which includes the settlement payments to your creditors along with our settlement fees-- saving you $19,261.34. All of your settled debts have been settled in full and reflect $0.00 balances. Start New Financial did not take settlement fees in excess of 18%. You do not have any monies owed to you. If you would like to reach out to your escrow bank they will provide you with a detailed transaction history of every dollar that came in and out of your account.
  
  Thank you,

  Customer response

  02/22/2022

  
  Complaint: ********
  
  I am rejecting this response because: We went through this before, you keep reiterating the same false information. On 1/30/22, per your request, I sent an email to ************************** with my client ID in the subject line. I got no response on that email.  I later was told by one of your employee (I call your place almost every day for updates) that that email doesn't get read, that I should send to ************************ which does get read. Which address should I send it [again] to? In any case, I have a ticket already opened with you, ******* for this complaint.  It appears that one side of your organization is not speaking with the other.  In any case, from the updates you give me over the phone, if they can be believed, you are supposed to be working with the lawyer's firm (that is coming after me for your mistake) to resolve it but every time I call, there's no action on it. As for the fees, you keep ignoring the fact that this was supposed to have been totally settled and closed back in April of last year.  There should have been no reason to keep the account open collecting bank fees and withdrawing form my bank account after that.  And the 18% fee was supposed to have been taken out in April when I sent you $12,800.00, the figure that you gave me, to settle and finalize everything. The StartNew and bank/escrow account should have been closed at that point.  But, someone in your organization made a big mistake and didn't make the last payment on the ***** ***** account until I called you in late November 2021.  Only after that did you make the final payment to *** 8 months after you were supposed to have made it. That mistake of yours triggered a cascade of events: it broke the settlement agreement between you and ** which caused them to now come after me for the remainder of the original balance; it kept the bank/escrow account open and therefore kept taking fees out; now I have a judgement against me and can't take out a needed line of credit out on my house because if it.  You put me in a really bad situation financially as well as taking out over $3840.66 in unnecessary fees. Please remedy this situation immediately! Otherwise, I will have to file with the Attorney General's office in *********  And stop saying that the account is settled when it's not. If it were settled, a lawyer's firm would not be coming after me for $7000.00.
  
  Sincerely,
  
  ****** ******

  

  Business response

  02/24/2022

  *******

   

  We have received your email along with the ***** ***** correspondence. Our team is in communications with the Law Office that has this debt, we are working on resolving this matter.

  We will give you an update as soon as we have one.

  Thank you,

• Initial Complaint

  01/04/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I signed up with Start New Financial on October of 2019. Ever since I enrolled in this program it has been a nightmare. This is the second summons that I have been served. I actually had to settle one of my accounts on my own because they never contacted the collection agency. I was served a summons on November 23, 2021, and I have been told on numerous occasion the "Priority Team" would contact me. As of today no one from the Priority Team has contacted me and the summons is now over it's 30-days. I have been told by customer service that the Priority Team can only be reached via a ticket that customer service must submit. I would never recommend this company to anyone.

  

  Business response

  01/11/2022

  Sandy,
  
  Our priority department has settled and resolved you summons. These things can take time, we appreciate your patience. If you need anything additional please let us know.
  
  Thank you,

• Initial Complaint

  12/08/2021

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Signed up with ***** as she promised "she" could help negotiate payoffs. My credit would be improved and all debts paid off in 2 years from one monthly payment. That they "her amazing negotiating team" would contact all creditors let them know I was in this program do to financial hardship. They would handle everything and I wouldn't be harassed. Well this is 2nd summons! 1st I had to make several calls to get an answer and now paying $400 more a month than we agreed upon a year ago. Now looking at 2nd summons and told I should go to court. I feel ive been taken advantage of because of disability , financial hardship and age. But you can't get answers , return calls or any help from this company. I've asked to speak to manager many times and nothing. I'm told now I'll receive call in 8 days. Maybe more maybe less. Is there an honest business out there?

  

  Business response

  12/10/2021

  Business Response /* (1000, 5, 2021/12/10) */ ******** we apologize for some of the challenges that have come up throughout your program. We understand how frustrating it is to deal with the various difficulties that you listed out. Each of our client's programs are unique in their own right and are completely subject to the creditors within their file. Our representatives are trained to go over some of the challenges that may be faced throughout someone's program. That said, we have been in contact with your representative and she informed us of your situation. We have elevated the issue to our Priority team who will be in touch with you to get this rectified as quickly as possible. If you have any questions we encourage you to give us a call so we can provide you with whatever information you need.

• Initial Complaint

  12/06/2021

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  After you sign the contract and send your first payment there is high turn-around, and no support! I have been making on time (automatic payments for 14 months). Only 1 of 3 accounts have been settled. One account is suing me. I have been calling the (800) number for weeks and get told the same thing, "we have the summons and someone will contact you" yet no one does. My court date is days away and still I have no answers.

  

  Business response

  12/13/2021

  Business Response /* (1000, 5, 2021/12/13) */ ********* Your summons has been resolved, two of the three debts enrolled have now been placed in settlements. We will be reaching out to you by phone to discuss personal account details. If you have any additional questions please contact customer service. Consumer Response /* (2000, 7, 2021/12/15) */ (The consumer indicated he/she ACCEPTED the response from the business.)

• Initial Complaint

  12/02/2021

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  They preyed on me and my debt and revived my charged off debt from two credit card companies. I agreed to pay $400 a month and I don't think they're actually reaching any settlements and there are a lot of hidden fees they've been taking from the escrow account

  

  Business response

  12/04/2021

  Business Response /* (1000, 5, 2021/12/04) */ ****** You enrolled two debts; one has been settled, and the secondary account has not been settled. Start New Financial does not take any upfront fees. The only time Start New Financial can collect fees is when an account has been settled. You have revoked your draft authorization, and haven't successfully drafted since September. We have closed your account. If you have any questions please contact Customer Service. Consumer Response /* (3000, 7, 2021/12/07) */ (The consumer indicated he/she DID NOT accept the response from the business.) Now that they closed my account I can't access the ledger that shows multiple fees coming out every month from the beginning. My credit report shows no settlements either. They closed my account and there's $1900 in the escrow account, I'd like that back Business Response /* (4000, 9, 2021/12/08) */ ****** We apologize you feel that way, but it sounds like you don't have the most up to date information on your account. You enrolled two debts with us, and you were in an active settlement on your ******* account at the time of your cancellation. You account was closed on 12/6 due to non payment. Any monies in your escrow account we're returned to you. We wish you the best of luck. Thank you, Consumer Response /* (4200, 11, 2021/12/09) */ (The consumer indicated he/she DID NOT accept the response from the business.) I've paid $400 a month for 9 months. That's $3600. The settlement was for $1000 and your settlement fee charge was $500. The remaining money in the escrow account has NOT been returned to me and I will keep this going until it has. Business Response /* (4000, 13, 2021/12/10) */ ****** Your escrow account with *** has been closed, and they have issued you a refund via check of any monies in your escrow account. If you have additional questions about your refund or would like to track the check please contact ******************************** 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. ↩