Quick Answer: Start New Financial is a for-profit debt settlement company. To evaluate whether they’re right for you, I’d encourage you to check their complaint history with the CFPB, read their reviews on Trustpilot, and check their legal and enforcement history. Here’s how to do each of those.
Before You Read This: This is a research guide — I’m showing you where to look so you can reach your own conclusions. I’m not rendering a verdict on Start New Financial.
If you find something concerning, post it in the comments. Use my Contract Decoder if evaluating their contract.
If you represent Start New Financial and something here is inaccurate, contact me and I’ll review it promptly.
Every weekday I read the enforcement actions, filings and fine print the outlets skip, and turn them into the one or two moves that actually improve your position — a rate worth moving for, a fee you can refuse, a deadline to beat before it costs you.
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The most valuable thing on this page may be the comments section below — real experiences from real people.
Who Is Start New Financial?
An educated consumer is our best customer.— Sy Syms
New here? My Ultimate Consumer Guide to Checking Out a Debt Relief Company walks through how to vet any company.
Start New Financial is a for-profit debt settlement company. I’d encourage you to read their own website and state business filings directly.
Step 1: Check Their Credentials
- BBB Profile: Check their Better Business Bureau profile — rating, years in business, complaint history, responses.
- AFCC Membership: The American Fair Credit Council is the main industry association for debt settlement companies.
- State Licensing: Debt settlement companies must be licensed in states where they operate. Check your state’s financial regulatory authority.
A Note on BBB Grades: Read the complaint text and company responses — that’s more useful than the letter grade.
Step 2: Check Consumer Complaints
Search Start New Financial’s complaint history in the CFPB database →
- What are complaints about — fees, program performance, communication?
- How did the company respond?
- Are the same issues appearing repeatedly?
- What’s the ratio of complaints to estimated customers?
Step 3: Read Their Trustpilot Reviews
Find Start New Financial’s Trustpilot reviews here.
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- Compare 5-star reviews about interactions vs. reviews about actual debt outcomes
- Read 2- and 3-star reviews — often the most honest
- Check how the company responds to negative reviews
- Look for clusters of 5-star reviews in short periods
Step 4: Check Their Legal and Enforcement History
- CFPB Enforcement: CFPB enforcement actions database
- FTC Actions: FTC enforcement cases
- State AG: Search “Start New Financial attorney general settlement”
- PACER: Federal court records
Context Matters: Past enforcement action doesn’t automatically disqualify a company — look at what it was for and whether it was resolved.
Step 5: Ask the Right Questions Before You Enroll
Before signing: Run their contract through my Contract Decoder tool.
- What is the total cost — fees as a percentage of enrolled debt?
- How long is the typical program?
- What happens if a creditor sues me while I’m in the program?
- How is my monthly payment held?
- What percentage of clients complete the program?
- What’s the tax impact of forgiven debt (Form 1099-C)?
Before You Commit: Run your situation through my Find Your Path tool.
Key Takeaways
- Check credentials, BBB profile, and state licensing first
- Read CFPB complaints for patterns, not just raw numbers
- On Trustpilot, compare interaction reviews vs. outcome reviews
- Check CFPB and FTC enforcement history
- Get all enrollment answers in writing before signing
- Comments below have real client experiences
Want the full research playbook? My Ultimate Consumer Guide to Checking Out a Debt Relief Company covers every tool and source in this guide — plus detailed walkthroughs for reading BBB profiles, spotting Trustpilot red flags, and searching federal court records on CourtListener.
Free Tool — 1099-C Tax Calculator: Received a 1099-C for cancelled debt? The free 1099-C Tax Calculator runs the exact IRS insolvency math from Publication 4681 Worksheet 2 — and covers the partial insolvency case most people miss. Run the Calculator →
Frequently Asked Questions
Is Start New Financial a legitimate debt settlement company?
The best way to evaluate them is through public records: their CFPB complaint history, BBB profile, any enforcement actions, and reviews on Trustpilot. I’ve linked to each of those sources above.
How do I file a complaint against Start New Financial?
File with the CFPB at consumerfinance.gov/complaint, your state attorney general, and the BBB.
What fees does Start New Financial charge?
Debt settlement companies typically charge 15-25% of enrolled debt. Ask them specifically what their fee structure is and get it in writing before enrolling.
Should I use Start New Financial to settle my debt?
That depends on your situation. I’d encourage you to run your situation through my Find Your Path tool to see whether debt settlement, bankruptcy, credit counseling, or another option fits your situation better.
Share Your Experience with Start New Financial
If you’ve worked with Start New Financial, share your experience in the comments below.
To share your experience: Scroll to the bottom of this page — the comments box is there.
Before You Sign Anything: Run any debt relief contract through the free Contract Decoder to spot hidden fees and unfair terms. Check the company’s complaint history with the Scam-O-Meter.
Compare Your Real Options: Most debt relief companies won’t tell you about all your options — especially the ones they can’t profit from. Credit counseling has a 21-27% completion rate. Settlement resolves about 1% of enrolled debts fully. Bankruptcy has a 95% discharge rate — and protects your retirement. Take the Find Your Path quiz for a recommendation based on your actual numbers.
Browse all Debt Settlement Companies reviews, or see the full Company Reviews directory.
