Preferred Financial Services
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Preferred Financial Services

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Last updated: March 20, 2014

7 Preferred Financial Services Consumer Reviews and Complaints

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Original review: March 20, 2014

Enrolled 3 years ago. Company switched over. Did not follow up with my account. 3 years later no one has settled my accounts and will not reimbursed for the monies that I have deposited in account. Also, they will not return calls… Do your homework and settle account for yourself. DO NOT, I repeat DO NOT use this company.

Verified Reviewer
Original review: Feb. 21, 2014

This company is a BIG scam!!!!!!! Extremely poor customer services. I was at their program for 2 1/2 years, never miss a payment. In the end paid the sum equal my whole debt and end up in $6000 court with company PFS was not maked any contacts. Now they not even return my calls and not pick up a phone on me and refuse proceed any documentation. Definitely will report to BBB as soon done with court. Shame on you, PFS.

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Verified Reviewer
Original review: Oct. 29, 2013

I would highly recommend for someone to use any other company for their financial aid on the planet than this calamity that is PFS. They will say anything to lure you in, the caveat is it's eerily similar to the bait and switch tactics other shifty companies use. If you value your time and effort, please do yourself a favor and go with a more respectable and stable financial company for all your needs!

Original review: Nov. 14, 2011

I was enrolled with Preferred Financial Services (PFS) to help get a handle on my debt. I completed the program over 2 years ago. I received a letter from PFS that I completed the program and that all my debts were settled. Here it is, 2 1/2 yrs later and I've received a letter from an attorney that a motion to attach my wages has been filed in court on behalf of Citibank. I researched this and from what I found out, the settled amount of $683.00 was never paid to them. Now Citibank wants $1000.00 from me. PFS also charged me $75.00 as a settlement fee on this account. I've sent the letter to PFS, I've called PFS, I've emailed PFS and no one will get back to me.

Original review: Feb. 21, 2011

I had perfect credit. In 2008, the banking industry collapsed in NY. In 2009 I realized I had gotten over my head in debt. I contacted Preferred Financial Services. They told me they could help negotiate and consolidate my debt, and since I did not have one late payment in my credit history it would not affect my credit. I paid them about $225 a month. A year later, I was sued by two creditors and had only paid off one of them.

My credit has been destroyed. My debt has increased by several thousand dollars due to late fees. I contacted the two suing me and started paying them monthly. I had to stop paying them after they wiped me out. Now I'm waiting to be sued again because I cannot afford to pay the amounts they are demanding from me.

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Original review: Aug. 1, 2010

On around 3/1/2007, I signed on with this company to cut and eliminate my consumer credit lines. A little time passed after all the collectors stopped harassing me with calls but it was not long after that "PFS" would call occasionally asking if I had additional funds available. Unfortunately, I only had the monthly payment of $257.86 we agreed upon paying my debt load of roughly 15k in 4 years.

Of course, they said that could reduce the total amount in half but that never happened. The ending of business relations with PFS came a little after I was served legal documents at my place of employment on behalf of a creditor seeking payment of almost double what I originally owed! Having no financial recourse, I was forced into chapter 7 bankruptcy. As a result of this company not performing their agreed upon duties to me the consumer, I have endured tremendous financial hardship through out this period of time associated with preferred financial services, taking my hard earned money every month and not providing the services promised. I would like for this company to be investigated. If possible, I would like civil legal action to be taken against this company.

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Original review: Sept. 23, 2009

I have not contacted the company yet as I wanted to talk to someone about my situation. Preferred Financial Services is a Debt Settlement company. They are charging me heffty fees up front and none of the money is going toward my credit card debt. I already issue a stop payment with my bank to stop future withdrawls. I only made 5 payments of 627.02 before I realize that I'm being scammed. Is there anyway I can get my money back from this company?

Preferred Financial Services Company Information

Company Name:
Preferred Financial Services