LowerMyBills.com started in 2000, and is based in Los Angeles, California. The company offers free online services for consumers. LowerMyBills.com makes it possible to compare monthly bills, and reduce living costs. The company offers savings through over 500 service provider relationships. LowerMyBills.com aims to provide their customers with quotes from a variety of different companies, so customers can get the cheapest rates and monthly payments.

Loans come with fixed monthly payments, and consumers can get funded up to $35,000 in just a few days. The company claims to reduce borrower interest rates by around 30 percent. Not all rates are available in every state. Additionally, the company is widely known for being a scam. Customers who choose to input personal information with LowerMyBills.com should be cautious. 

Rank Chart
Monthly Price
Accreditations
Our Score

#1

$0-69
CPFC,ISO,FCAA
9.3

#2

$10-49
CPFC,ISO
8.3

#3

$0-39
ISO,CC
6.9

#29
LowerMyBills.com Reviews | BestCompany.com

Undisclosed
None
2.0

The Good

Personal Loan to Help with Debt Consolidation

Consumers can input personal information to search for companies that provide loans for debt consolidation. By comparing rates with different companies, customers can get the best rates possible on a personal loan that aids with debt consolidation. LowerMyBills.com claims to provide up to a $35,000 loan in minutes, from a network leader. With LowerMyBills.com, monthly payments are fixed, and customers can potentially lower their rates an average of 30 percent. Loans deal with unsecured debt, so consumers do not need to provide collateral. Interest rates are undisclosed.

Personal loans are not payday loans, and the company does not do business with payday lenders.

Debt Refinancing for Consolidation

People can also consolidate debt through refinancing. This is an option for people suffering with high interest rates. The process takes customers’ inputted personal information, and matches that up with companies who can finance.

LowerMyBills.com provides many quotes from their network of lenders, that customers can then compare. With refinancing, LowerMyBills.com claims it can lower one’s monthly payment, interest rate, get cash out of one’s equity, and convert and adjustable rate into a fixed one.

The Bad

No Solid Consolidation Program or Services

LowerMyBills.com does not offer any specific debt consolidation program or services. The company itself is not an actual lender, and just provides quotes from their network of lenders. Loan interest rates are dependent upon credit score, loan amount, loan term, and credit history.

People who are looking for a solid consolidation program should probably look elsewhere. LowerMyBills.com also does not offer any kind of financial analysis, or free debt consultation.

The company’s services are not available in all states.

No Warranty

LowerMyBills.com does not provide any kind of money-back guarantee for its services. In fact, the company does not offer any warranties whatsoever. Terms and policies explain that entire risks of satisfactory quality, performance accuracy and efforts are with the customer. Additionally, there are multiple spelling errors throughout the information, which suggests the company has not thoroughly proofread some of its policies and terms.

Negative Customer Feedback

Across the board, LowerMyBills.com has very negative customer feedback. The company has been involved in lawsuits, and is also listed on Ripoff Report. Customers claim that once people input information into the LowerMyBills.com, even if it is not “submitted,” it is saved with the company. The information is then given to salespeople. Even if consumers are just one minute into filling out personal information on the site, LowerMyBills.com has it. LowerMyBills.com requires a lot of personal information upfront.

Because the company is linked to mortgage institutions, it can collect a lot of personal information, and the Terms page states LowerMyBills.com does not have to delete any of it, even if one unsubscribes. The Federal Financial Privacy Law explains it can store information for a set period of time. Additionally, LowerMyBills.com has been accused of selling information to insurance agencies, so customers should be very cautious when entering business with this company.

Multiple Spam Calls

Many customers claim that as soon as they input their contact information, they are spammed with calls, sometimes as much as every two hours for months. Terminating services with LowerMyBills.com does not guarantee the calls or emails will stop. Additionally, some customers say that the company posts on their personal Facebook profiles.

Click here to see top rated Debt Consolidation Companies

The Bottom Line

LowerMyBills.com is not an actual lender, and doesn’t offer a specific consolidation program, or consolidation services. Instead, the company provides customers with many quotes from its network of lenders. This services aims to make it convenient for customers to select the best options with the lowest rates and monthly payments. Customers can choose refinancing to consolidate debt, or get a personal loan for debt consolidation.

However with this company, the cons outweigh the pros. Numerous customers claim this business to be a scam, and that LowerMyBills.com sells personal information to lenders. Additionally, many say that the second they sign up or input their contact information, even without pressing “submit,” the company has it. Many complained that once contact information is in, the company won’t stop calling. We recommend looking into a more reputable, accredited, and transparent company for debt consolidation needs.

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Frequently Asked Questions

Consolidation or Personal Loan?

LowerMyBills.com does not offer specific consolidation services or a consolidation program. However, the company provides customers with multiple quotes on personal loans, and refinancing; both of which can help with debt consolidation.

What Is The Monthly Fee?

LowerMyBills.com does not provide information on monthly fees for its services.

Are There Any Upfront Fees?

The company does not provide any information on upfront fees. In fact, its services are not explained in detail.

What Is The Cancellation Policy?

The company does not provide a cancellation policy, and does not offer any kind of warranty or money-back guarantee.

Can I Get a Free Consultation?

LowerMyBills.com does not provide a free, no-obligation debt consolidation consultation. Instead, customers fill out personal information, a few questions, and contact information online, and the company will call them immediately to discuss details. Some customer claim that after they fill out the answers to the online questions, the LowerMyBills.com representative will call them to ask the same questions.

More Information

About LowerMyBills.com

LowerMyBills.com claims to bring together quotes from multiple lenders in their network, so customers can compare and receive the lowest monthly payment and interest rates. For debt relief, the company provides quotes from lenders who refinance, and provide personal loans; Both services of which claim to get customers reduced interest rates and monthly payments.

The company does not offer a specific debt consolidation program, or debt consolidation services.

LowerMyBills.com does not provide debt consolidation or debt settlement examples.

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1 LowerMyBills.com Reviews

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  1. User Score

    9

    October 15th, 2014 Los Angeles, CA

    the service is pleasant, although they asked more detailed questions than other companies, the result is way better than other companies. This helps me to save a lot of time.

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