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If you’re struggling to keep up with your bills and are looking for a way to get out of debt, you may have come across Advantage Preferred Financial. They offer debt consolidation services that promise to help you get back on track. So is Advantage Preferred Financial legit or is it a scam? In this article, we’ll take a closer look at their services and see what customers have had to say about them.
Advantage Preferred Financial offers debt consolidation loans that can be used to pay off your existing debt. They claim to have a program that can help you get out of debt in as little as 12 months. But is this too good to be true?
Advantage Preferred Financial uses a bait and switch scheme. They promise one thing and then deliver something else. For example, they may offer you a debt consolidation loan with a low-interest rate. But when you try to get the loan, they tell you that you don’t qualify. Or, they may say that they can help you get out of debt in a short period of time, but then only make your situation worse.
There are many complaints about Advantage Preferred Financial online. Customers have said that they were a bait and switched, misled about the terms of their loans, and charged hidden fees. Some customers have even said that Advantage Preferred Financial is a scam.
If you’re considering using their services, we would recommend that you look elsewhere. There are many other companies that offer debt consolidation services that are more reputable and transparent. And, if you’re already in debt, there are other options that may be better for you, such as credit counseling or a debt management plan.
Advantage Preferred Financial Pros and Cons
If you’re considering using Advantage Preferred Financial to consolidate your debt, you should be aware of the pros and cons first. One of the biggest disadvantages is their bait and switch scheme. They advertise a low-interest rate, but when you apply for the loan, they give you a much higher rate.
Advantage Preferred Financial has many complaints about its hidden fees. They don’t disclose all of the fees associated with their loans, so you could end up paying a lot more than you expected.
Another downside is that they’re a debt consolidation loan company. This means that they’ll work with your creditors to lower your payments, but you’ll still be in debt. You might be better off finding a debt settlement company that can help you get out of debt completely.
The only positive thing about Advantage Preferred Financial is that they have a variety of loan options. If you can find a good interest rate and are willing to pay the hidden fees, consolidating your debt with them might be a good option for you. Otherwise, you might want to look elsewhere.
What is Advantage Preferred Financial?
Advantage Preferred Financial is a debt consolidation loan company that offers loans to help you pay off your debt. They have a variety of loan options, including fixed-rate and variable-rate loans, so you can choose the one that best suits your needs. Advantage Preferred Financial also offers personal financial counseling to help you get out of debt and improve your financial situation.
However, Advantage Preferred Financial has been accused of bait & switch tactics. They have been known to send out direct mail with unrealistic interest rates and repayment terms, only to change the offer when you call to apply for the loan. This can be very frustrating and may cause you to waste your time and money.
If you’re considering using Advantage Preferred Financial to consolidate your debt, make sure you understand their terms and conditions before applying for a loan. It’s also important to shop around and compare interest rates and fees from other debt consolidation companies before making a decision.
How does Advantage Preferred Financial work?
If you’re like most people, you probably have some debt that you’re trying to pay off. Whether it’s credit card debt, medical debt, or student loans, debt can be a major burden on your finances. If you’re looking for a debt consolidation loan, you might be tempted to go with Advantage Preferred Financial. However, you should know that this company is not reputable and uses bait & switch tactics.
Basically, what they do is direct mail people who are struggling with debt and offer them a low-interest rate. Once the person accepts the loan, they will be given a high-interest rate. This makes it difficult for the person to pay off their debt and they will eventually default on their loan.
So if you’re considering using Advantage Preferred Financial for your debt consolidation needs, beware of their bait & switch tactics. It’s best to avoid doing business with this company altogether. There are plenty of other reputable companies out there that can help you consolidate your debt without resorting to these shady tactics.
What is a debt consolidation loan?
A debt consolidation loan is a loan that allows you to consolidate all of your outstanding debt into one single payment. This can be a great way to save money on interest, reduce your monthly payments, and get out of debt faster.
If you’re considering taking out a debt consolidation loan, there are a few things you should keep in mind.
- First, make sure you understand the terms of the loan and what it will mean for your overall financial picture.
- Second, be sure to shop around for the best rates and terms before making a decision.
- And finally, make sure you can afford the monthly payments on the loan.
If you’re struggling with debt, a debt consolidation loan can be a great option to help get you back on track. Just make sure you do your research and understand the terms of the loan before you sign on the dotted line.
How to qualify for an Advantage Preferred Financial debt consolidation loan?
To qualify for an Advantage Preferred Financial debt consolidation loan, you’ll need to have good credit and a steady income. You’ll also need to provide some financial information, such as your debts and assets so that the lender can determine whether you’re a good candidate for a consolidation loan.
If you have good credit and a steady income, you may be able to qualify for an Advantage Preferred Financial debt consolidation loan.
To get started, simply fill out an online application and provide some basic financial information. Once you’re approved, you’ll receive a loan amount that can be used to pay off your existing debts. You’ll then make one monthly payment to Advantage Preferred Financial, which will be used to pay off your debt consolidation loan.
What kind of debt consolidation program does Advantage Preferred Financial offer?
Advantage Preferred Financial offers a debt consolidation loan program that claims to help you pay off your debt. This program can be used to consolidate credit card debt, medical debt, student loans, and other types of debt.
The loan is paid back over a period of time, and the interest rate is fixed. This means that you will know exactly how much you need to pay each month, and you can budget accordingly.
You may also be able to get a lower interest rate if you have good credit. Advantage Preferred Financial uses bait and switch tactics to lure people with bad credit in with the promise of a lower interest rate, but then they charge a higher rate.
You should be aware of these tactics before you sign up for any debt consolidation program. Make sure you read the fine print and understand all of the terms and conditions before you agree to anything. otherwise, you could end up paying more than you bargained for.
How much does Advantage Preferred Financial charge?
Advantage Preferred Financial is a debt consolidation loan company that offers a variety of services to help you get out of debt. The cost of their services depends on the type of service you need, but they do have some hidden fees that you should be aware of before you sign up for their services.
The first hidden fee is their processing fee, which is $75. This fee is charged when you first apply for their services and it is not refundable if your application is denied.
The second hidden fee is their origination fee, which is also a percentage of your loan. This fee is charged when your loan is approved and it goes towards the administration of your loan.
The last hidden fee is their annual maintenance fee, which is $60. This fee is charged every year on the anniversary of your loan and it covers the cost of maintaining your account.
For Debt consolidation loans the cost will depend on the size of your loan, but you can expect to pay anywhere from $500 to $5,000. The interest rate on these loans is also variable, so it’s important to shop around and compare rates before you decide to consolidate your debt with Advantage Preferred Financial.
What is the minimum credit score for an Advantage Preferred Financial debt consolidation loan?
The minimum credit score for an Advantage Preferred Financial debt consolidation loan is 640. However, your credit score is just one factor that lenders will consider when determining whether or not to approve your loan. Other factors include your income, employment history, and credit history.
If you have a high credit score and a strong financial history, you’re more likely to be approved for a loan with a lower interest rate.
To apply for a loan, you’ll need to provide some basic information about yourself and your finances, including your Social Security number, credit score, and annual income. Advantage Preferred Financial will then run a hard credit check, which may impact your credit score.
If you’re approved for a loan, you’ll receive the funds in as little as one business day. You can then use the money to pay off your outstanding debts. Once you’ve paid off your debts, you’ll just have one monthly payment to make to Advantage Preferred Financial.
Who owns Advantage Preferred Financial?
Advantage Preferred Financial is a privately-held company with no outside investors or shareholders. The owner is Carma Farrar. Carma started the company in 2011 with the mission to help people improve their financial lives.
Unfortunately, Carma’s business practices have come under scrutiny in recent years. Many customers have accused her of bait and switch schemes, where she promises one thing but then delivers something else entirely.
Despite the controversy, Carma remains defiant. She continues to run Advantage Preferred Financial as she sees fit, without any regard for the complaints against her. If you’re considering doing business with this company, be aware that you may not be getting what you expect.
How does Advantage Preferred Financial affect your credit?
If you’re considering using Advantage Preferred Financial, it’s important to understand how hard pulls and late payments can affect your credit.
When a lender checks your credit score in order to make a lending decision, this is called a hard pull. Hard pulls can slightly lower your credit score, but they typically only have a temporary effect.
If you make a late payment to Advantage Preferred Financial, this will also be reflected on your credit report. Late payments can cause your score to drop significantly, so it’s important to always make payments on time.
Overall, using Advantage Preferred Financial won’t have a major impact on your credit score. However, it’s still important to be aware of how hard pulls and late payments can affect your credit.
How to cancel Advantage Preferred Financial?
If you need to cancel your Advantage Preferred Financial loan for any reason, you’ll first need to repay the outstanding balance on the loan. Once the balance is paid off, you can contact customer service to cancel your account. Be sure to have your account information handy when you call, as they will need it to cancel your account.
Who is Advantage Preferred Financial affiliated with?
Some people might be wondering if Advantage Preferred Financial is affiliated with any negative organizations or scams. The answer is they do, unfortunately. They have been known to be affiliated with Advance America, which is a payday loan company that has been accused of scamming people out of their money.
They are also affiliated with National Credit Adjusters, which is a debt collection agency that has been accused of harassment and illegal practices. Overall, it seems that Advantage Preferred Financial is not exactly the most reputable company out there. If you’re considering doing business with them, you might want to think twice.
Advantage Preferred Financial BBB Reviews
Advantage Preferred Financial is a company that provides financial services. They are accredited by the Better Business Bureau (BBB) and have an A- rating. The BBB has closed eight complaints against them in the last three years, with one complaint closed in the last twelve months.
The company has a 1-star rating on the BBB website. Complaints against Advantage Preferred Financial include problems with customer service, billing, and collections.
Here are some Advantage Preferred Financial BBB Reviews:
Toby F. 04/20/2022
I have tried pay my collection debt with this company for a couple of years. We are two broke adults working more than full time to pay off our debt. When I called in to make a deal of what money we had which was more than 50% of what they were asking for and they denied me saying since I didn’t take their deal over a year ago I have to pay pull cost. I told them we don’t have that money and all we have is this amount and we could pay this amount now. This company has been hitting my husbands credit going on to 6 years now and just found out only 2 years ago that this was even on there. I am very disappointed that they would make us pay the full debt that has accumulated interest everyday even though we have offered to pay but just can’t pay all of it. We have worked with other collection companies that will take whatever we can get and call it good and they are way higher debts than this. I told them I will contest this because we have made two attempts to pay this off and they will only go down maybe $25 dollars.
Steve H 11/04/2020
I am on SSDI Being disabled is hard enough, not being able to work because of Covid-19. I had a phone call from these nasty abusive bullies. Twisting my conversation around and trying to make me feel a lot worse than I do. Their guy James was the worst, saying I was avoiding paying my bill refusing to work to pay my bills. Pushing me to make commitments that I could not really afford. These guys are violating several laws. But good luck catching them. I know one thing, that guy would never talk to me that way to my face.
Joy M 05/22/2019
They are inconsistent. I did not have an account on my credit report for the longest time. I thought it was because I paid it fairly quickly (I’m not sure, it was SIX YEARS AGO) and it was less than $100. All of a sudden, years later, it appears on my report, lowering my score. I realize accounts are supposed to stay on your report for seven years but why not report for years and then report it out of the blue? It’s ridiculous.
William W 05/13/2019
Tried to strong arm for a debt I didn’t owe. These kind of attorneys barely passed the Bar, and now try to benefit off those that are afraid of silly collection calls. Stand up to em, they’re worthless. I’m a financial planner, and their call center does not know the law. Please, please don’t listen to the crap coming out of their mouth. I’m reporting them to the BBB
Is Advantage Preferred Financial Legit or a Scam?
If you’re considering using Advantage Preferred Financial, you may want to think twice. There have been a lot of complaints about this company, and it seems they may be running a bait and switch scheme.
Customers have reported getting direct mail from the company that looks like an offer for a low-interest loan. However, when they call to take advantage of the offer, they’re told that the terms have changed and the interest rate is much higher. In some cases, customers say they were even pressured into taking out a loan with APF.
Given all the complaints, it’s hard to say whether APF is legitimate or not. But if you’re thinking about using their services, you should be aware of the potential risks involved.
Have you had any experiences with Advantage Preferred Financial? Share your story in the comments below.
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Advantage Preferred Financial Review
Advantage Preferred Financial Review
If you’re considering using Advantage Preferred Financial, you may want to think twice. There have been a lot of complaints about this company, and it seems they may be running a bait and switch scheme. Customers have reported getting direct mail from the company that looks like an offer for a low-interest loan. However, when they call to take advantage of the offer, they’re told that the terms have changed and the interest rate is much higher. In some cases, customers say they were even pressured into taking out a loan with APF. Given all the complaints, it’s hard to say whether APF is legitimate or not. But if you’re thinking about using their services, you should be aware of the potential risks involved.