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6.4

Overall Score

1 User Review

DS Financial Services has over 20 years of industry experience. The company has offices in Florida and New York. Its debt settlement services operate under the name SettleBankDebt.com. The company offers a basic website with limited information on its services, pricing, and company. It works solely with clients who have the ability to settle, often with accounts that are over six months past due. SettleBankDebt.com focuses on fast settlements for eligible clients and is upfront about whether or not debt settlement is right for individual consumers. 

The Good

  • A Different Approach
  • No Trust Account
  • No Fees When You Sign Up
  • Time in Business

A Different Approach

DS Financial Services' SettleBankDebt.com conducts business slightly differently than others in the debt settlement industry. This may be good or bad depending on individual circumstances. Most debt settlement companies will have clients stop making payments on debts immediately after they sign up. Representatives of DSFS only take on unsecured debts that are either currently in collections or have already been declared delinquent. Then, like other companies, it offers free advice and a consultation over the phone. This is good for those who have gone delinquent and have no one else to help them.

No Trust Account

After signing up with DSFS, instead of having clients set money into a trust account, it has clients build funds on their own. The more debt you have, the less of a percentage you pay to DSFS.

No Fees When You Sign Up

DS Financial Services charges no fees when you sign up.

Time in Business

DS Financial Services has over 20 years of industry experience. 

The Bad

  • Limited Website Information
  • No Accreditations

Limited Website Information

The DSFS' website SettleBankDebt.com lacks key information; for example, the company does not disclose any information about pricing or debt minimums on its corporate website. These are important things to know before signing on with a debt settlement company.

No Accreditations

DSFS is not accredited with the AFCC or the IAPDA. These accreditations show that companies are using best industry practices.

The Bottom Line

In the end, DS Financial Services' SettleBankDebt.com is different than the majority of debt relief companies. It requires your accounts to already be delinquent and it does not require that you set money aside each month in a separate bank account. While this option won't be right for most people, it's a good option for those who have gone delinquent and do not qualify for other debt settlement programs. However, if your accounts are currently not delinquent, we recommend choosing a company with lower fees and industry accreditations.

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User Reviews

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  • 10

    April 26th, 2016

    A great company. DS Financial saved me just over $40K and did it with personal attention and in FAST. No big company non-sense and bad service. I even dealt directly with the owner of the company. Not bad service. Big and accredited is not always better, especially nowadays when business is purely started for profit ignoring customer service. Fully recommend DS Financial Services for any sort of consumer debt settling.

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