American Financial Solutions

American Financial Solutions Reviews

Author pictureAuthor picture
Author picture
Written by
Author picture
Edited by

Our promise. We provide a buying advantage with verified reviews and unbiased editorial research.

About American Financial Solutions

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

Established in 1999, American Financial Solutions is a nonprofit agency that offers credit counseling services for credit repair, student loans, housing and bankruptcy, as well as online classes and a resource center with budget templates, articles and calculators. It also offers debt management plans (DMPs) in which you consolidate your debts into one monthly, manageable payment so that you can get out of debt easier.

Pros & Cons

  • Nonprofit
  • Live chat
  • Spanish support available
  • Fee amounts aren’t disclosed
  • Secured debts ineligible for DMPs

What is American Financial Solutions?

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), as well as approved by the Executive Office for United States Trustees (EOUST) for bankruptcy counseling.

American Financial Services says it has assisted more than 500,000 people to pay off over $10 billion in debt to date.

How does American Financial Solutions work?

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 next steps.

From there, you may choose to pursue one of its focus areas, such as 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 for a reduced debt amount overall, a DMP still requires you to pay off the full amount. As such, a DMP is better for your credit score than debt settlement.

American Financial Solutions services

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

  • Debt management plans (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: Pre-filing counseling and post-bankruptcy education, approved by EOUST
  • Credit report reviews: A review of your Experian credit report and score and support with correcting any inaccuracies
  • Housing counseling: HUD-certified counseling to help ensure you’re ready for homeownership
  • Foreclosure prevention: HUD-certified counseling to help you understand the foreclosure process and how to avoid it

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 fees

American Financial Solutions doesn’t charge for most of its services. However, it says fees may apply for some services, such as its DMPs.

With a DMP, once you sign up, you usually pay a small enrollment fee and ongoing monthly fee, both up to $75. State law often dictates the maximum that can be charged. American Financial Solutions doesn’t say how much it charges per service. However, credit counseling, online classes and foreclosure services are free of charge.

Be sure to get confirmation of what the fees might be before you commit to any plan with any credit counseling organization.

American Financial Solutions FAQ

Does American Financial Solutions have a money-back guarantee?

Most of American Financial Solutions’ services are free of charge. Its DMPs and some other services may have fees. However, there’s no mention of whether these are refundable. There is also no guarantee that your creditors will agree to the reduced terms of a DMP.

Is American Financial Solutions a debt consolidation company?

No, American Financial Solutions does not issue debt consolidation loans. Instead, it offers counseling services and debt management plans to help you better manage your money and pay down your debts.

Will working with American Financial Solutions hurt my credit score?

Credit counseling agencies aim to help you get out of debt and improve your credit score. Enrolling in a DMP may initially harm your score since you’ll be paying less against your debts. However, as you pay down more and more debt and develop more responsible financial habits, your score will go up.

Is American Financial Solutions legit?

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

  • Recent
  • Oldest
  • Most helpful
Select stars to rate your experience
Very dissatisfied with the experienceDissatisfied with the experienceSatisfied with the experienceHappy with the experienceWould recommend to a friend

A link has directed you to this review. Its location on this page may change next time you visit.

Loading more reviews...

American Financial Solutions Company Information

Company Name:
American Financial Solutions