Beyond Finance Reviews
Staff
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56 recent reviewers mentioned Beyond Finance's staff. 96% were happy or satisfied with the staff, ranking Beyond Finance 7th among debt settlement companies on our site.
Customer Service
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28 recent reviewers mentioned Beyond Finance's customer service. 66% were happy or satisfied with the customer service, ranking Beyond Finance 9th among debt settlement companies on our site.
Process
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27 recent reviewers mentioned Beyond Finance's process. 93% were happy or satisfied with the process, ranking Beyond Finance 5th among debt settlement companies on our site.
Transparency
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16 recent reviewers mentioned Beyond Finance's transparency. 83% were happy or satisfied with the transparency, ranking Beyond Finance 8th among debt settlement companies on our site.
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About Beyond Finance
Established in 2011, Beyond Finance is a debt settlement company that says it can cut your monthly payments by 40% or more while negotiating with creditors on your behalf to reduce the total amount you owe. Beyond Finance says its services are ideal for people with $10,000 or more in unsecured debt who want to avoid bankruptcy.
- Free consultation
- Mobile app
- 24/7 live chat support
- Not available in all states
- Unable to offer legal support
What is Beyond Finance?
Beyond Finance provides personalized debt settlement programs for unsecured debts such as credit cards, medical bills and private student loans. It is affiliated with Accredited Debt Relief, a debt settlement company that operates in 32 states. When you sign up for Beyond Finance online, the intake assessment is done by Accredited Debt Relief.
One notable perk of Beyond Finance is its mobile app that allows you to manage your enrolled debts and monitor your progress. The app has a 4.7-star rating on Google Play and a 4.9-star rating on Apple’s App Store as of publishing, with over 4,000 reviews combined.
How does Beyond Finance work?
With Beyond Finance, you’ll first set up a free consultation with one of its team members. Based on your financial circumstances, Beyond Finance will then help you choose a personalized debt settlement program. Beyond Finance says most clients fully resolve their enrolled debt in 24 to 48 months.
With any debt settlement program, the goal is to reduce the total amount you owe to your creditors. To do this, Beyond Finance will require that you stop paying your creditors and instead deposit a monthly payment into a settlement account. During this time, Beyond Finance will negotiate with the creditors on your behalf.
Once a settlement amount has been agreed to with a creditor and approved by you, the payments you’ve been making into the settlement account will be sent to the creditor. This may be in one lump sum or in multiple payments. Beyond Finance says that, on average, clients must save 40% to 50% of a debt before a settlement offer will be made.
Note that debt settlement will hurt your credit because you’ll no longer be making payments on those bills. You’ll incur interest and late fees on those unpaid amounts — and since there’s no guarantee a creditor will agree to settle, you could end up owing even more at the end of the process. Ensure the risks are worth it before pursuing any debt settlement program.
Beyond Finance services
Beyond Finance offers debt settlement services for the following types of debt:
- Credit cards
- Personal loans
- Private student loans
- Medical bills
- Lines of credit
- Debts in collections
It cannot help with federal student loans, mortgages, auto loans or other secured debts.
While Beyond Finance doesn’t specify a minimum debt requirement to participate in its program, it does say that debt settlement is best for people with $10,000 or more in unsecured debt.
Beyond Finance is not available in all states. However, it doesn’t specify on its website which states are ineligible.
Also, since Beyond Finance is not a law firm, it cannot offer any legal advice should a creditor decide to take legal action against you. However, Beyond Finance says it will attempt to resolve that creditor’s account and can refer you to further help as needed.
Beyond Finance fees
Beyond Finance charges a percentage-based fee of 15% to 25% of your enrolled debt. If it is unable to resolve a debt with a creditor, Beyond Finance says you won’t be charged any fees for that particular debt.
The initial consultation is free, and Beyond Finance doesn’t charge any upfront fees. You’ll only owe your fee once you’ve reached a settlement.
Beyond Finance FAQ
Does Beyond Finance have a money-back guarantee?
Beyond Finance does not mention anything about a money-back guarantee on its website. However, it does say that you will not be charged any fees unless a settlement is reached.
Will using Beyond Finance hurt my credit score?
Yes, you should expect your credit score to take a hit with any debt settlement company because you must stop paying your creditors as part of the negotiation process. However, if your settlement is successful and you show responsible financial habits, your credit score will eventually go back up over time.
Does Beyond Finance give out loans?
Beyond Finance offers a “graduation loan” of $1,000 to $75,000 through its affiliate, Above Lending. The purpose of the loan is to help you complete the debt settlement process faster. The funds are deposited into your settlement account so that you can pay off any remaining debts and fees in as little as 90 days. The loan is by invitation only, based on your ability to make consistent deposits and your creditworthiness.
Is Beyond Finance legit?
Beyond Finance is a legitimate debt resolution company that is accredited by the American Fair Credit Council, the Consumer Debt Relief Initiative and the Better Business Bureau. Its repayment accounts are insured by the Federal Deposit Insurance Corporation. Beyond Finance says it has helped resolve more than $3 billion in debt to date.
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- We use intelligent software that helps us maintain the integrity of reviews.
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Beyond Finance Company Information
- Company Name:
- Beyond Finance
- Website:
- www.beyondfinance.com