Home Credit report New Start Financial Review: Debt Relief Scam

New Start Financial Review: Debt Relief Scam

Editorial credit: Velishchuk Yevhen

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Who is Financière Nouveau Départ? They are not a lender. They are rated “F” by the Better Business Bureau. They seem to be a lead generator mainly by selling to debt settlement companies. They claim to offer a “personalized debt relief program with payments you can afford”.

You’ve probably received a mail with a pre-approval code and what looks like a low interest no charge personal loan. See the payout table below.

Does it sound a bit good to be true?

And off we go in search of opinions.

East New Start Financial or a scam?

NewStart 11 21 Get a Personalized Debt Relief Program Page 2

Crixeo.com has awarded New Start Financial a rating of 1 star (data collected and updated as of December 13, 2021). We hope the information below will help you make an informed decision on whether to do business with New Start Financial.

  • New Start Financial is not a lender.
  • New Start Financial is rated “F” by the Better Business Bureau.
  • It seems like this is a typical bait and switch program – but not for themselves – for their primary buyers. They lure you in by sending you direct mail with a ridiculously low interest rate to consolidate your high interest credit card debt.
  • New Start Financial isn’t telling you that you need great credit to qualify for a loan with that low interest rate (for which you were supposedly pre-approved).
  • We are curious how many consumers who received this offer in the mail actually qualify for the low rates offered.

Bornw Start Financial BBB Reviews

Type of complaint – Billing / collection issues – 08/08/2021

I have now made 4 EARLY payments on my vehicle, this company has not reported anything to any of the major credit bureaus. The whole point for me to take such a high interest loan on my vehicle was to help restore my credit, and yet it was not. I would like to refinance this loan with a local credit union or other franchise if it does not resolve quickly. It’s a horrible business practice, their website is horrible and it looks like they paid a high school kid $ 50 to build it, they don’t have a real point of contact and I’m VERY unhappy with the service. They won’t do anything to help a paying customer, but quickly get their check back!

Type of complaint: Problems with the product / service – 12/8/2019

I opened an account with them around January 2019. I signed a contract where they would be the holder of the lien on my vehicle. they didn’t report credit once, and it’s now a loan paid off. I signed a contract that said I would report my credit to. Not once has it reached Equifax and I recently asked a dealership to pay off that loan. It’s not on any credit report actually. This is a major problem because I have used them as a credit repair service.

We urge you to do your own research and do your due diligence on any business, especially when it comes to your personal finances.

We wish you good luck and invite you to take a look at Crixeo Best Debt Consolidation Reviews from 2022.

New Start Financial Review

New Start Financial Review

New Start Financial is representative of what plagues the debt consolidation industry. Direct mail with low rates, sales of leads for loans and bait and change tactics to turn the customer into a debt settlement customer. We strongly recommend that you do your own due diligence on New Start Financial’s major buyers before entering into a financial relationship with the company.

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