Last Updated: 04/18/2025
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Highlights
Minimum Debt Owed
$9,000
Settlement Fee %
25% - 29%(Verified 10/07/2024)
Monthly Service Fee
$0(Verified 10/07/2024)
Start New Financial Review
Start New Financial is a debt settlement company based in Grand Rapids, MI. It offers debt relief services to borrowers in 43 states (and Washington, DC). Founded in 2010, it is a well-established company that has been in business for over 10 years.
Key Takeaways
- Low debt minimum. Start New Financial stands out from the competition because it only requires clients to have a minimum balance of $9,000. Most firms require at least $10,000 of unsecured debt.
- Not accredited by the ACDR or the IAPDA. Start New Financial is not a member of the Association for Consumer Debt Relief (ACDR), which is the major trade association for the debt settlement industry. Furthermore, it does not invest in the accreditation of its debt resolution specialists by the International Association of Professional Debt Arbitrators (IAPDA) either.
- Well-established company. Start New Financial has been in business for 16 years.
- Available in most states. Start New Financial is available in 43 states, and Washington, DC.
Start New Financial Pros & Cons
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Start New Financial FAQ
What does Start New Financial do?
Start New Financial offers debt relief services for the following types of debt:
- Unsecured debt, such as credit card debt, medical debt, and personal loans.
What does Start New Financial charge?
Start New Financial charges a settlement fee based on the debt handled. Instead of monthly payments or upfront fees, Start New Financial only collects a fee once a settlement has been reached. Fees are calculated as a percentage of the enrolled debt and may vary by state. Across the industry, debt settlement clients typically see a 45% to 60% reduction of their enrolled debt before fees.
Start New Financial settlement fees typically range from 25% of the enrolled debt up to 29% of the enrolled debt, depending on state regulations.
Debt relief fees and settlement terms can vary based on your state and individual circumstances, so it’s best to speak directly with Start New Financial for an accurate quote.
Does Start New Financial offer a guarantee?
No, Start New Financial does not have a money back guarantee. Some debt settlement companies advertise a money-back guarantee that typically states you won't be charged until your debt is settled. However, it is illegal for debt settlement companies to charge upfront fees before an account is settled. So these guarantees offer little added value to consumers.What is the minimum debt Start New Financial will consider?
Start New Financial is recommended for customers with an unsecured debt of $9,000 or more. Customers with less than $9,000 of unsecured debt may benefit from a debt consolidation loan or credit counseling services.Does Start New Financial perform its own servicing in-house?
Yes, Start New Financial employs its own in-house servicing staff who manage the process and negotiate settlements on behalf of their customers.
What accreditations does Start New Financial have?
The two main trade associations in the debt relief services space are the Association for Consumer Debt Relief (ACDR) and the International Association of Professional Debt Arbitrators (IAPDA).
- Start New Financial is not an accredited ACDR member.
- Start New Financial is not an IAPDA member.
Is Start New Financial a legit company?
Start New Financial was founded in 2010, it is a well-established company that has been in business for 16 years.
Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.
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Hours of Operation
Sunday
Closed
Monday
9:00AM - 6:00PM
Tuesday
9:00AM - 6:00PM
Wednesday
9:00AM - 6:00PM
Thursday
9:00AM - 6:00PM
Friday
9:00AM - 6:00PM
Saturday
9:00AM - 5:00PM