Beyond Finance is a debt consolidation company with a simple mission: to help people save money, gain control of their finances, and borrow responsibly. As the consumer debt market continually grows, Beyond Finance works around the clock to create both practical and fair debt management services that are customized to its customer's needs.
Beyond Finance also aims to go above and beyond in customer service, and clients have access to the company's consultants — who are there to guide clients through every step of the process and provide personal support and solutions.
The company has offices in Chicago, Houston, and San Diego and was founded in 2016.
Beyond Finance has a simple, three-step process to help clients settle their debts. First, the company analyzes your existing debt to ensure the company will be able to help you. If it can, the Beyond Finance team will work with you to develop a debt relief solution that fits your unique needs.
Then, Beyond Finance will work on your behalf to settle your debts and save you as much money as possible. These results are not always guaranteed, however, and it is important to realize that if you agree to work with a debt settlement company, you do so at your own risk and may end up paying money in without getting the results you want.
The final step in the process is to eventually move beyond your debt (hence the company name.) As you start making a single monthly payment into your Beyond Finance account, the company will help you diminish or refinance your debt in less time than you might be able to do on your own.
Again, remember that this process is different for every client, and while debt relief companies have helped many clients reduce their debt over time, this isn’t always the case and results are not guaranteed.
Beyond Finance is an accredited member of the American Fair Credit Council (AFCC), which is one of the primary organizations with which a debt relief company can become accredited. The AFCC sets industry standards and regulates ethical business practices among debt relief companies, so it’s great when a company is a member and is thus accountable to those standards.
We don’t find any evidence that Beyond Finance is accredited with other organizations, but the AFCC is a great start.
Beyond Finance is a debt consolidation company. This means that when you choose to work with the company, you start making a monthly payment into a special account that you create solely for the purpose of paying off debts.
After you have accrued enough money (generally four to six months into the process), Beyond Finance will start using the money in your account as leverage to negotiate settlements with your creditors.
If you are not current on your monthly payments, the debt settlement process might be delayed, because if you don't have enough money in your account with which Beyond Finance can negotiate, it will have to wait until you do.
The company also advises you to send any and all collection calls its way. If you receive a collection call, you can tell the person on the phone that you are working with Beyond Finance toward debt settlement, and he or she can contact the company directly with any questions.
We can’t find any information about Beyond Finance’s pricing or cost of services. Some debt relief companies are very transparent with this information, while others require you to schedule a consultation before you can get an idea of what you might be paying into the debt settlement program and what fees will apply.
Typically, you can expect to pay anywhere between 15 to 25 percent of your debt in fees to the debt relief company you choose to work with. If during your consultation with Beyond Finance, you realize that you will be paying more than this, you may want to consider other options.
We also cannot find any information regarding a minimum debt requirement for Beyond Finance. This either means the company does not have one, or that this information is just not available online.
During your initial conversation with the company, you will discuss the existing debt you have and the company will determine whether or not you qualify for its services. However, without a published minimum debt requirement, you will not know in advance if you have enough debt to work with Beyond Finance or not.
While Beyond Finance doesn’t have very many reviews on Best Company (only eight as of August 2021), most of these reviews are negative. This isn’t a good sign, as many of the reviewers say they would not recommend the company or its services and that they didn’t have great experiences with Beyond Finance.
Unsatisfied customers talk about the company’s terrible communication and poor customer service. Perhaps these things have changed since the reviewers left their comments, but some comments are fairly recent.
One happy customer, however, did speak to the company’s success in helping reduce his debt from $80,000 down to $30,000. This is a big win and hopefully, the company will start to see more reviews like this moving forward.
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