Your Debt Relief Pal

Debt Calculator

DebtBlue Reviews: Did You Get the Mailer?

Ben Avatar
Ben
Did you get a DebtBlue mailer that stated you were pre-approved for an advantage loan, but eventually got denied? Have you read the recent lawsuit?

Or, have you received a mailer from the DebtBlue negotiations department that your response is required and that you have 10 days to contact their office? If you don’t, does the letter state that you will face extra fees and penalties? 

But, what is a debt consolidation program? What is DebtBlue? How does DebtBlue get paid?

We will review all of that and more, so let’s get started.

Is Debt Blue A Loan Company?

You may have received a letter from Debt Blue stating that you are pre-approved for an advantage loan, and it appears that DebBlue may be a debt relief company(source), but that it’s owner Financial Freedom Group, LLC may also own Sky Bridge Financial that is a licensed state lender.
 
Your next question may be “what is Debt Blue?”, so let’s cover that next.

What is Debt Blue?

According to its BBB, DebtBlue provides debt relief services. DebtBlue is owned by Financial Freedom Group, LLC, who also owns Sky Bridge Financial (SBF).  DebtBlue is an authorized/ registered/ licensed broker of SBF.  SBF is a fully licensed state lender and works through a federal charter to provide loans throughout the US. 

If you are unfamiliar, Debt relief is the process in which a third party negotiates with your creditor on your behalf. The goal of a debt settlement firm is to find a lower payment that will fully satisfy the debt that you owe. So, a debt relief may try to settle a $10,000 credit card balance for $5,000. This can provide ample savings and a potential lower monthly payment.

I was the previous CEO of a debt relief company, and I believe debt relief can be a good option for some, but not for others.
 
Let’s next cover DebtBlue’s history next.

Debt Blue History

According to its North Dallas BBB page, DebtBlue started in 2004, so the company is nearly 20 years old. While DebtBlue started in 2004, it did not open a BBB file until August, 2019. The company is headquartered in Richardson, Texas, and you can reach the company between the hours of 8 am and 8 pm, Monday through Friday, and Saturday between 9 am and 2 pm.

Debt Blue Lawsuit

It appears that there has been a lawsuit files against Sky Bridge Financial and DebtBlue in the court of Ohio under Case 2:23-cv-02926-EAS-KAJ. The lawsuit involves allegations that there has been illegal use of and access to the private financial data in the consumer reports of financially distress consumers. 
The lawsuit alleges that the Plaintiff got a mailer stating pre-approval for a loan of 7.99% interest rate. When the plaintiff called into the DebtBlue representative allegedly stated that the individual would not qualify for a loan based on the credit score, but that he pitched the Plaintiff a debt settlement program.

How Much Does DebtBlue Cost?

According to DebtBlue’s FAQ’s, DebtBlue charges typically 25% of the debt that you enroll in the program. No fees are collected upfront, but that’s standard in the industry. 

Often, debt relief companies state that it charges between 15-25%, so 25% is potentially on the higher end of that spectrum. The companies that we have partnered with tend to charge between 15-20%, potentially with some exceptions. 

I liked how DebtBlue was also forthcoming about the Veritas Legal Plan which is another $39.95 per month. Just for reference, if you are in a 48 month program, that would be an additional $1917.60 in fees you are paying for legal protection. Generally, debt relief companies offer this in case of a debt collection lawsuit for one of your accounts.

Many debt relief companies should understand which creditors are more likely to sue as your accounts often go past due before the company settles, so it’s unclear why they would pitch this product if your creditor mix all had a low lawsuit likelihood of suing.

Debt Blue Reviews

When you look at DebtBlue reviews, you’ll notice some positive and also some negative reviews. Let’s dig into BBB and Google reviews first.

BBB Reviews

According to BBB, DebtBlue maintains a A+ rating with a 4.79 based on 896 customer reviews. At the time of this writing, DebtBlue is accredited in the Tempe, Arizona division with an A+ rating and is also BBB accredited in the North Dallas region. It appears that the Tempe Division and the North Dallas division have now merged. So, here’s the BBB information for the North Dallas divsiion.

DebtBlue North Dallas

Debt Blue also had 23 complaints in the last 12 months and 54 complaints in the last 3 years. It can be extremely useful to read complaints. One complaint mentioned that the individual called multiple times to cancel their membership, but was unable to get someone on the phone to call back to cancel.
Picture of BBB complaint where individual stated it's hard to cancel DebtBlue
A second complaint addressed the letter that they had received from DebtBlue stating that the individual had 10 days to call their office about an adjustment of credit accounts. 
Picture of BBB complaint that was not happy with DebtBlue's marketing techniques.
 
Let’s next look at the Google reviews.

Google Reviews

On Google, DebtBlue maintains a 4.8 rating based on 1,738 reviews. Sometimes debt relief companies will ask for a review shortly after entering a program, so I like to see reviews where the individuals shows that they have been in the program long enough to experience the process.

On the positive side, June J stated in their review that they have had a good experience thus far. June mentioned that they reached the first settlement at about 90 days, which was faster than they expected.

DebtBlue Google 5 Star Review picture

On the other hand, Olivia stated that she had a negative experience. In her review, Olivia stated that the communication has been terrible. She stated that the creditor had threatened legal action and she had been served in a debt collection lawsuit. Many debt relief companies know who will sue, so it’s unclear why Debt Blue provides a lawsuit likelihood calculation to her before entering the program. Or potentially, they did, but this one ended up in a lawsuit.

DebtBlue Google 1 Star Review picture

Facebook Reviews

On Facebook, DebtBlue has a 4.6 rating based on 36 reviews. As seen below, Bridgette mentioned in her review that Debt Blue has lifted a burden off for her.

Debt Blue Facebook Reviews and Ratings

In Summary

DebtBlue is BBB accredited in the North Dallas region. Also, DebtBlue is an accredited member of the American Fair Credit Counsel and has a BSI ISO certification. 

Debt Blue may tend to charge on the higher end of the fee structure at roughly 25% of enrolled debt. DebtBlue has accreditations with AFCC and BSI, and while it may not yet be accredited in the North Dallas region, it is accredited in the Tempe region with an A+ rating.

Tagged in :

Leave a Reply

Your phone number and email address will not be published. Required fields are marked *

Reviews

★★★★★

5.0 stars from 280+ reviews

Synthia DuBose

 08/21/2023

My family was grappling with the burden of credit card debt. We had explored various avenues, including debt relief companies and consolidation loans, but everything seemed dubious and left us feeling uncertain. That all changed when I came across Ascend and had the opportunity to connect with Justin. He reached out to me on the very same day, and from that point forward, things took a turn for the better.

I provided Justin with an overview of our financial situation, our objectives, and the timeline we hoped to achieve our goals within. He promptly outlined the possible courses of action and presented a thorough breakdown of our various options. What truly stood out was Justin’s approach—he never pressured me into making a quick decision. Instead, he offered me the information and allowed me to ask questions at my own pace.

Upon selecting the path we wanted to pursue, Justin facilitated our connection with a non-profit organization. Much to our delight, they exhibited the same level of courtesy, expertise, and patience that Justin had demonstrated. In retrospect, the entire experience instilled a sense of confidence within us. We now believe we have a solid foundation and are well on our way to achieving financial success!

Dahveed Krisna

 07/26/2022

Ben and his assistant Jeffrey from Ascend Finance did an awesome job helping me to find an attorney who could talk with me openly and honestly about Chapter 13 as an option for my financial situation. Before finding out about Ascend’s bankruptcy calculators, I was stuck on a wheel of countless offers for consolidation loans, but always steered towards debt settlement or debt management plans over and over again due to my credit score and high utilization percentage. Based on data I entered into Ascend’s calculator, Ben and Jeffrey reviewed my situation and quickly connected me with a skillful, experienced bankruptcy attorney. I finally feel like I’m on the best path to being debt free; one that will save me a lot more money than any of the debt settlement or debt management programs that other companies and agencies have offered me… THANKS Ben, Jeffrey and Ascend!!

JorJor Binks

 02/09/2024

These guys are truly a beacon for those of us with too much debt. From the start where I found Ben on the YouTube channel Ascend I have been treated as a real person by real people. Even getting a personal call helping me figure things out. I went through one of the lawyers recommended by Ascend and as of January 2nd I am debt discharged, and already have a great credit card from Mission Lane for $2000. Things are getting back into place and my life feels so much less stressful due to the weight of debt being off my shoulders.

PLEASE give these guys a call if you are even considering any sort of debt relief be it bankruptcy, consolidation, or whatever other types of debt relief are out there. I can’t thank the Ascend team enough. (I was not paid to post this, or told to do this. I am genuinely so thankful to have the help when I needed it most♥️)

Latest Posts

Categories

Pages