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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.

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1 User Reviews

The Good

  • Personal Loan to Help With Debt Consolidation
  • Debt Refinancing for Consolidation

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 from 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 an adjustable rate into a fixed one.

The Bad

  • No Solid Consolidation Program or Services
  • No Warranty
  • Negative Customer Feedback
  • Multiple Spam Calls

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. 

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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