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  • NEW START CAPITAL IS NOT AFFILIATED WITH NEW START FINANCIAL
  • START NEW FINANCIAL IS NOT AFFILIATED WITH NEW START FINANCIAL

Do you know about New Start Financial? It’s a company that offers low-interest loans to help people get out of all their debt. In this blog post, we’ll tell you everything you need to know about New Start Financial so you can make an informed decision about whether or not to do business with them.

At first glance, it may seem like working with a company like Start Financial could be a good way to get access to the money you need. They claim to offer a “custom debt relief program with payments you can afford”. However, it’s important to understand how they operate before making any decisions.

New Start Financial is not a lender, is a lead generation company. This means that instead of lending you money directly, they will sell your information to lenders who may be able to work with you on a loan. In most cases, these loans are for debt consolidation.

In order to attract your attention, they send you direct mail offering a low-interest rate to consolidate your high-interest credit card debt.It is estimated that the average American household carries $8000 in credit card debt. The sources of this debt vary. Some are due to credit card spending that increases over time. Others may be due to student loans or mortgages.

To get your information, New Start Financial markets a pre-approval letter. They then share your information with their network of money-lending companies and refer you back to them for the actual loan.

It’s important to note that Start Financial has an “F” rating with the Better Business Bureau (BBB). Their business bureau file states that they have been in business for 14 years and have yet to become accredited by this organization.

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What Is Their Work System?

New Start Financial works with a pre-approval code system. You will receive a pre-approval code through the mail, usually promising a loan with a low-interest rate and comfortable repayment terms. Once you have this code, you can contact them to provide your information, which they will then bid to lenders who may be interested in qualifying you.

Most of the time, customers don’t know exactly which companies their information is being shared with. Make sure you also research the lender that is being suggested to you and understand how they work and what are the full terms and conditions.

Finally, they only offer their services for unsecured loans, they do not work with secured loans, student loans, or medical debts. If you default on a loan, this can cause problems down the road. It’s supposedly possible to lower your monthly payments, shorten your debt-free timeframe, or both. Therefore, it’s important to make sure that you understand all the details.

What Are The Pros And Cons Of New Start Financial?

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New Start Financial services, like everything, have pros and cons. They work with a variety of lenders, which gives borrowers more options and the potential for better terms. Additionally, New Start Financial makes the process of shopping around for a loan easier and less time-consuming. This can be a good option if you’re unable to make your minimum monthly payments or if you’re facing financial hardship.

They also offer credit counseling to help you improve your financial situation. By getting credit counseling, you can become better aware of how to handle your finances and how to use credit cards responsibly.

However, some of the lenders that New Start Financial works with have been accused of using bait-and-switch tactics. Borrowers should be aware of these tactics and carefully research any lender before agreeing to work with them. There is also the disadvantage that not all debts are eligible for enrollment. New Start Financial does not endorse any particular lender, so it’s important for borrowers to do their own due diligence so they don’t end up with a high-interest loan.

Be sure to do your research on any financial company you plan to work with, including reading reviews and complaints online. This way you’ll know what you’re getting into ahead of time.

Do They Have A Website?

New Start Financial recently made some changes – they changed their logo to a simpler one and moved their website from nsftoday.com to nsfal.com. Both of these websites are still up and running, so we’re not sure why they made the changes. They also changed their location, from Somonauk, IL to Sandy, UT.

As a member of the Consumer Debt Relief Initiative (CDRI), which sets ethical standards for the debt settlement industry, Start New Financial claims to follow a number of ethical guidelines.

The recent changes made by the company, which include a new logo and name, have raised some questions. Some companies have been known to make such changes in an effort to avoid negative reviews and improve their reputation. It is hard to say why this company made the change, but it is something to keep in mind when choosing which debt consolidation or loan service to use.

New Start Financial New Website

New Start Financial Qualify Process

They mostly request basic information from potential customers, such as name, address, phone number, and email address. However, an 8-digit code from the back of the card they send in the mail is required.

Lead generator companies are known for selling your information to lenders. In order to use their services, you must consent to receive calls and emails from up to 3 of their marketing partners. You must have at least $10,000 in unsecured debt. This includes credit card debt, medical bills, personal loans , and other types of unsecured debt.

In order to lure you in with a low-interest offer for consolidating your high-interest credit card debt, the company sends direct mail offers to local businesses or individuals. This is clearly not a good sign and should be considered before applying for a loan with this company.

Depending on your circumstances, they may recommend a debt settlement plan. In the event that you qualify for a debt settlement plan, they will negotiate with your creditors in order to resolve your debts for a lower amount than what you owe. They do not assume consumer debt, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice or credit repair services.

Different lenders have different requirements for what they need from borrowers in order to give them a loan, but some common qualifications are having a regular income, proof of employment and residence, and a good credit score.

New Start Financial BBB Reviews

Complaint Type – Billing/Collection Issues – 08/08/2021

have now made 4 EARLY payments on my vehicle this company has not reported anything to any of the major credit bureaus. The whole point of me accepting such a high-interest loan on my vehicle was to help restore my credit, and yet this has not been the case. I would like to refinance this loan under a local credit union or another franchise if this does not get resolved quickly.

This is a horrible business practice, their website is horrible, and looks like they paid a high school kid $50 to build it, they have no real point of contact, and I am HIGHLY displeased with the service. They won’t do anything to help a paying customer, but are quick to collect their check!

Complaint Type: Problems with Product/Service – 8/12/2019

10/24/2019 I opened an account with them around January 2019. I signed a contract where they would be the lien holder on my vehicle. they have not reported to credit once, and it is now a paid-off loan. I signed a contract stating that I would have my credit reported to me. Not once has it hit Equifax and I have recently had a dealership pay off that loan. It is on no credit report actually. This is a major problem as I used them as a credit repair service.

Do your own research and be cautious when dealing with companies, especially when it comes to your personal finances.

Do u have any experience working with New Start Financial? Let us know about it in the comments.

  • NEW START CAPITAL IS NOT AFFILIATED WITH NEW START FINANCIAL
  • START NEW FINANCIAL IS NOT AFFILIATED WITH NEW START FINANCIAL
New Start Financial
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New Start Financial Summary

Some of the lenders that New Start Financial works with have been accused of using bait-and-switch tactics. Borrowers should be aware of these tactics and carefully research any lender before agreeing to work with them. New Start Financial does not endorse any particular lender, so it’s important for borrowers to do their own due diligence so they don’t end up with a high-interest loan. New start Financial is not affiliated with New Start Capital or Start New Financial.

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