Debt Free Destiny

The slick-looking website of Bella Financial is just a shell. Underneath is a company that has severed problems with customer satisfaction. As you will see from this review Bella Financial and its other company, Debt by Debt Settlement Services has a complaint list longer than you can imagine. The website, even though it looks nice and flashy, does not contain the kind of straight talk about debt settlement that others we have reviewed contain.

Quick facts about Bella Financial / Debt by Debt Settlement Services:

Founded in: November 2003

Years in Business: 5

Number of employees: Not disclosed.

BBB Rating: F

BBB complaints: 56 complaints in the last 36 months in the area of advertising issues, billing or collections, sales practices, service issues, customer service, and refund or exchange issues. While this is bad enough, in June of 2008, the state of California issued a desist and refrain order against them for false advertising, overcharging customers, and then making unauthorized funds withdrawals from customer accounts.

Free Information: You will find only a modest amount of information on their website, or you can call their toll-free number.

Escrow or Payment Plan Available: Payment plan.

Source of Funds: Your monthly payments.

Fee Structure: 15% of the amount of debt that is entered into their program. No other fees are disclosed or could be discovered.

Avg Settlement: Not disclosed.

Refund Policy: None given.

About the Company

Bella Financial has been in business since November 2003 and is based in Dallas, Texas. They also have a DBA name of Debt by Debt Settlement Services. This is a concern because it indicates that they may have tried to start another company in order to avoid the negative fallout from poor business practices. Also, we could not find a website for Debt by Debt Settlement Services.

Beginning the Process

Call their 800 number or fill out the online form.

Types of Debt Serviced

Unsecured only.

Worth Noting

The existence of the government action by the state of California against Bella Financial can be found in more than one location. The BBB website tells about this action against them as well as a few other independent review websites. All of these reviews give the same advice: do not do business with this company.

Program Caution and Your Responsibilities:

Only the most valiant would even consider contacting Bella Financial to discover how their program works. But, you must approach them with caution and read everything that they send to you as far as their agreement is concerned.

Will Debt Collectors Still Call?

They state that they are successful in getting most calls to cease once you are in their program.

Other Information

Why anyone would want to do business with a company that has a desist and refrain order against them is a quandary for us, but if you choose to do so, you must be extra careful and vigilant. Do not allow unfettered access to your bank account or allow them to make payments to your creditors for you. Also, be careful about their fees and make sure that they do not collect these up front. This is the most common complaint against debt settlement companies that we see.