Rate and Review

LG Financial Solutions – Scam, Complaint, Review, or Praise?

Please share your experience with this debt relief company and provide your review and feedback, in the comments section below.

The goal of this page is to allow people to share information that may be important to help others to make a more informed decision regarding their experience with this debt relief company. Here are some potential questions you might be able to provide feedback about.

  • How did you feel about the customer service experience you received?
  • Was the company easy to communicate with before or after you became a client?
  • Did the company respond to your communications promptly?
  • What were the fees charged for the services you received?
  • Did the company give you the terms and conditions for the program you were interested in before you gave them any personal information?
  • Was the program successful for you and accomplish the goals you had when you entered the program?
  • Did you have a really good experience you can share?
  • Did you have a bad experience you want to share?
  • Is there any other information you’d like people to know that might be considering the services of this company?

It is important to understand when reading comments below that they are the opinions of the individual posters and may not be representative of the overall impression of all consumers that may have or have not used the debt relief services of this company. But everyone does deserve to have an opportunity to express their opinion, even the debt relief company itself, be it good, bad, or indifferent.

Sincerly,
Steve

You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.


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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

4 Comments

  • I have had great luck with LG Financial Solutions. I started the program in June 2008 and will be debt free in the middle of this year! I am very excited. The fees were worth it to me to not have to deal with the creditors. I forwarded everything that I received in the mail and over the phone to them and they took care of it. I paid for the service and it was well worth the money. I also have paid about half of what I would have had I tried to pay these cards off by myself. I have been credit card free for almost 3 years and am looking forward to being debt free and credit card free this year! Lesson learned! 🙂

  • I have had great luck with LG Financial Solutions. I started the program in June 2008 and will be debt free in the middle of this year! I am very excited. The fees were worth it to me to not have to deal with the creditors. I forwarded everything that I received in the mail and over the phone to them and they took care of it. I paid for the service and it was well worth the money. I also have paid about half of what I would have had I tried to pay these cards off by myself. I have been credit card free for almost 3 years and am looking forward to being debt free and credit card free this year! Lesson learned! 🙂

  • Steve, I have posted quite a bit on here…as has my colleague Ryan McDonald. The complaint above is faulty in so many ways. I hope you allow me to address them publicly:

    1) We changed our name from LG Financial to Assista Financial when we changed the way in which we collect our fees. When we were LG Financial, we collected our fees like every other DS company….15% upfront spread out over the first 12 monthly payments. We found that this model does not save the clients money efficiently enough, therefore we pioneered an incentive based program where we collect the MAJORITY of our fees AFTER the settlement is reached. We do this by taking a percentage of what we are actually able to save the client.
    Now this does not mean that we don’t collect any money upfront…after all, we are a private company and we are typically dealing with people that are going through financial struggles. Therefore, we collect a small down payment upfront which is equal to 3.6% of the total debt…and we spread that out over the first 2 monthly payments. After that 2nd month, our remaining fees are deferred until we actually begin settling the clients debts. This deferred fee is 16% of what we are able to actually save the client. I hope that you understand the difference in fee structures and how our “Assista” model truly benefits the client. Our payment structure allows the client to accumulate more money faster, thus allowing settlements to be achieved in a more timely fashion. With the creditors becoming more aggressive in pursuing legal action, this is more important than ever.

    2) The above poster clearly did not pay attention to their sales representative and/or their compliance phone call. Not only is every phone call recorded, but each enrolled client must complete a compliance phone call where all of this information is covered. If they would like to disclose their full name, I would be happy to produce their recorded phone conversations to provide proof that not only were they informed that their credit would be damaged…but that it will take months to settle their debts. They signed up for at least a two and a half year program, how can we be expected to complete the program sooner if they don’t have the money for the settlements? 99% of our clients don’t have the lump sum of funds to settle their debts, and what good is a settlement offer without the funds?

    We are a completely transparent company. We have helped a lot of people get out of debt and are quite proud of what we do. With that said, you can’t make everybody happy and people are going to only hear what they want to hear. The bottom line is that this person charged up their debt and we tried to implement a plan for her to get out of it. Everything was disclosed both over the phone and in the documents she signed. I regret that she was not able to be successful within our company, but I have zero doubts that everything was done by the book…because that is the only way we do things here.

    I would be happy to discuss the situation with the disgruntled client directly. My contact information is below.
    As always Steve, thank you for the forum.

    Morgan Stump
    Sales Manager/Certified Debt Specialist
    Assista Financial Solutions

  • LG financial solutions also known as ASSISTA Financial solutions is a rip off.
    They mislead consumers to believe they will contact the creditors after 3 months this is completly false. This is how they work:1)The first two payments of say $400 each go to the company the third payment of $390 goes into a trust account that is set up to pay the debt when there is enough funds in the account for them to negotiate on your behalf. This means your credit card could be delinquent 8 months plus. For example, if you owe 9,000 in debt the company claims they can cut it in half. OK now do the math if they can cut it in half or more say $4500 you will have to accumulate at least that in your trust fund in order for them to settle:it will take you 12 month to accumulate those fund. So you see the company does nothing for you until then. Mean while your creditor can sue you which can lead to garnisment of your pay. Which will include court fees and so on…. The other twist to this is if you have more than one card you are still paying that monthly fee of 390 and they work on one card at a time because you will not have enough fund to cover the other debts. The bottom line you can end up going into bankruptcy these companies do not help they make it worse. I had contacted them and told them my account was current and I just needed to pay off my credit sooner because money was a little tight and I need to have a little savings. They instructed me to sign up in the program as hardship and after three month my creditor would be paid on that third transaction. I was never told what I stated above on how it really worked. I did not want my account to be deliquent for a year. I was never behind and had good credit. If was my fault not to go on the Website prior and based on there advertising I was not a candidate for this program. When I found all this information on how it realy worked after the fact I cancelled the contract they are stating I still owe money and I did not give them a chance for them to help me. WOW they never did anything but mis inform. Why would I want to go deliquent when I was able to pay the minimum payment. They are bullies lier and theives stay away this was a lesson learned at please note consumers need to ask detail questions. Run fast do not use them!!!!!

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