Is Prestige Financial Solutions Legitimate Or Do I Need to Worry? – Charlotte

“Dear Steve,

I enrolled in the “Settle As You Go” program with Prestige Financial Group. They have withdrawn 3 months worth of the proposed amount.

They told me that with the $ amount of debt I had it would take about 18 monthes. The collections calls have been one or two since I got into the program which is kind of nice as I was getting phone calls hourly.

However, every time I call to ask about my account (as some of the debt I have are small amounts, and they could of paid a couple of them off by now) I keep getting put on hold and then never given an answer.

I get told “let me look into your file and contact some of the creditors you have and I’ll get back to you” however I have yet to receive a phone call. So now I’m worried maybe I signed up for debt help but I’m getting scammed and they just take the money every month. (I don’t even get monthly statements or anything)

Is Prestige Financial Group Ligitimate get out of debt help with there settle as you go program or am I just blindly giving them my money every month thinking I’m paying of debt.

Thanks bunches!!

Charlotte”

Dear Charlotte,

I thought I’d go straight to Prestige Financial Solutions and ask them your question.

The answer looks very professional and takes your concerns seriously. I’d follow the advice below and contact Eric directly via email. Post a comment below on how you feel they handled your issue and let’s give them public praise if you are won over by their response.

You will see the response below.

Thank you for the opportunity to address this situation. First off we are Prestige Financial Solutions offering a Pay As You Settle program. The client mentions Prestige Financial Group and a “Settle As You Go” program.

We have responded to various inquires surrounding other companies with a similar name. Regardless I am assuming that this is in fact our client and not a mistake.

Abiding by the FTC ruling we are not allowed to earn money until we provide a service, thus the possibility of being scammed is non-existent. I was very troubled to see this today. I take this very seriously and very personally. It will be my priority today and it will be until we get it resolved.

We pride ourselves on our name, our goodwill, our accreditations, and being a professional and responsible company in a historically deceptive industry.

This client’s concerns are understandable and will be addressed.

We instituted the Pay As You Settle program nearly 2 years ago for some clients and we have been successful in reaching settlements and growing our business at the same time.

We supported and welcomed the FTC regulations of last year as well. We wouldn’t have the accredited rating with the BBB, license from the State of Colorado or simply be in business if we were not providing a valid and compliant service.

I would like to clarify that they are not giving “PFS” money nor is PFS charging fees prior to settlements. They are setting aside their own money, in a bank account set up for them to use at their discretion. They are not making payment to PFS, they are depositing their own money into a unique settlement account. They can log on online and check their balance at any time 24 hours a day. They can pull that money out at any time without penalty by the ruling of the FTC. We do not and cannot earn a dime until after settlements are reached and the client approves payments to both their creditors and us.

We pride ourselves on not only client service, but the relationships we build with our clients and creditors. Recently a client sent us homemade baked goods to show her appreciation. We unlike most debt settlement companies build these relationships by having clients assigned to their own dedicated negotiators. Clients can speak with their negotiator directly any time they call. It is an expensive way for us to do business, but it’s the only way we feel we can be accountable to our consumers.

Most people in debt took years to accumulate it and sadly it can’t all be settled at once. However, our mean for the first settlement for Pay As You Settle clients is approximately 122 days. It benefits us nothing to bring a consumer on that we don’t think we can help.

Transparency is an overly used word, but again we feel we are very transparent through every step of our program. This situation does not reflect a standard of service that I am happy with. This client should have a clear picture of where their money is and the status of negotiations on each account.

Please feel free to have the consumer contact me directly and allow me to research and rectify any misunderstandings or misgivings.

Eric Thompson
Founder
eric.t@payasyousettle.com

Please post your responses and follow-up messages to me on this in the comments section below.

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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.

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