American Financial Solutions Reviews

American Financial Solutions is a nonprofit agency offering credit counseling, financial education and debt management services. While it operates in all 50 states and Washington, D.C., not all services are available in all states.

Its counselors are certified by the National Foundation for Credit Counseling (NFCC) and the U.S. Department of Housing and Urban Development (HUD). It’s also approved by the Executive Office for United States Trustees (EOUST) to provide bankruptcy counseling.

To work with American Financial Solutions, you’ll first call its toll-free number or fill out its online application to connect with a counselor. You’ll then speak with a certified counselor who will review your credit report, assess your situation and help you plan your next steps.

From there, you can pursue housing, student loan or bankruptcy counseling or enroll in a debt management plan (DMP) to help pay down your debts.

If you pursue a DMP, you’ll consolidate all your unsecured debt into one monthly payment (secured debts typically aren’t eligible) while your credit counselor helps you to negotiate lower interest rates or reduced minimum payments with your creditors.

Note that, unlike debt settlement, in which you stop paying your bills while negotiating to reduce the total amount owed, a DMP requires you to repay the full amount. Because of this, a DMP is generally better for your credit score than debt settlement.

American Financial Solutions offers the following services for people struggling with debt:

• DMPs: Debt consolidation into one monthly payment with a lower interest rate and fees
• Credit counseling: Review of your finances by certified credit counselors, who help you decide on the best course of action
• Student loan repayment counseling: Repayment plans, loan consolidation and forgiveness options for private and federal student loans
• Bankruptcy counseling: Prefiling counseling and post-bankruptcy education, approved by EOUST
• Credit report reviews: Review of your Experian credit report and score, plus help correcting inaccuracies
• Housing counseling: HUD-certified counseling to help ensure you’re ready for homeownership
• Foreclosure prevention: Foreclosure prevention and education from a HUD-certified counselor

American Financial Solutions also offers resources such as online classes, calculators, budget templates and articles to help you with your money management.

American Financial Solutions doesn’t charge for most of its services. However, fees may apply for some services, such as its debt management plans (DMPs). With a DMP, you typically pay a small enrollment fee and an ongoing monthly fee of up to $75 each, though state law often sets the maximum allowed.

American Financial Solutions doesn’t specify exact pricing for each service. However, credit counseling, online classes and foreclosure services are free of charge.

Be sure to confirm any fees before committing to a plan with any credit counseling organization.

Yes, American Financial Solutions is a legitimate nonprofit credit counseling agency and a division of the North Seattle Community College Foundation. Its counselors are certified by the NFCC and HUD and approved by the EOUST to provide bankruptcy counseling. In Arizona, Illinois, Nebraska and New Hampshire, it operates as AFS Credit Counseling.