Priority Plus Financial Reviews: What You Need to Know

When bills pile up and credit card debt mounts, managing your finances feels impossible. High-interest loans make everything worse.

Debt consolidation can help you simplify payments and reduce interest. Priority Plus Financial offers debt consolidation services designed to help you regain control. The company also provides personal loans and credit repair services.

Based in St. Louis, Missouri, Priority Plus Financial has operated for over a decade. But is it the right choice for your situation?

Our review covers Priority Plus Financial’s services, application process, fees, and customer reputation. We’ll help you decide if their debt consolidation approach works for you.

Before choosing any debt settlement company, remember you have options. Our partner Cambridge Credit Counseling can help you create a debt management plan that fits your budget.

What Is Priority Plus Financial?

Priority Plus Financial focuses primarily on debt modification and settlement services. Some customers report receiving personal loans as well.

The company advertises fixed payment plans with low interest rates. Your repayment schedule is clearly outlined from the start. They promise your rate won’t change based on economic factors.

Priority Plus Financial uses an automated platform to offer unsecured personal loans. All loans feature fixed interest rates with no prepayment penalties.

The company holds an A+ rating from the Better Business Bureau. They’ve been BBB-accredited for years.

Key benefits include:

• Free consultations with no commitment required
• Strong customer reviews and BBB accreditation
• Fixed rates that don’t fluctuate with market conditions
• Transparent repayment schedules

Priority Plus Financial Products and Services

Priority Plus Financial provides three main services:

Debt Consolidation Loans: You combine multiple debts into one manageable payment. Your interest rate typically drops, saving you money over time.

Personal Loans: You can borrow for various purposes including home improvements and major expenses. The application process is streamlined for faster approval.

Credit Repair Services: The company helps improve your credit score. Better credit means access to more favorable loan terms in the future.

Priority Plus Financial simplifies the application process compared to traditional lenders. Customer satisfaction ratings are generally positive.

You should still compare their rates and fees with other providers. Read all terms carefully before signing any agreement.

Important Warnings About Priority Plus Financial

Recent customer reviews paint a mixed picture. Many users praise the friendly staff and efficient service. Others report frustrating experiences.

Common complaints include:

• Promised callbacks that never happened
• Inability to reach customer service after initial contact
• Confusion about minimum loan amounts
• Last-minute denials after lengthy application processes

Several customers responded to mailers promising loans. They felt misled when denied after providing detailed financial information.

Some reviewers were told the minimum loan was $5,000 on the website. When they applied, staff said the actual minimum was $7,500. Others were rejected for vague “other reasons.”

Protect Yourself Before Applying

Take these steps before working with any debt consolidation provider:

1. Compare at least three different financial services companies
2. Read all terms, conditions, and fee structures completely
3. Verify the company’s licenses and regulatory compliance
4. Check recent customer reviews on multiple platforms
5. Consult with a credit counselor for unbiased advice

These precautions help you avoid predatory lenders and hidden fees. Our partner Cambridge Credit Counseling offers free consultations to review your options. They can help you create a realistic debt management plan.

Alternatives to Priority Plus Financial

Debt settlement companies charge significant fees for services you can handle yourself. Many options exist beyond traditional debt consolidation loans.

Credit counseling agencies offer debt management plans with lower fees. A certified counselor negotiates with creditors on your behalf. Your interest rates drop and you make one monthly payment.

Debt management plans typically cost less than debt settlement services. You avoid the credit score damage that comes with settlement accounts.

You might also consider:

• Balance transfer credit cards with 0% introductory rates
• Home equity loans if you own property
• Negotiating directly with creditors for lower rates
• Nonprofit credit counseling for budget planning

Each option has pros and cons depending on your situation. The right choice depends on your debt amount, income, and financial goals.

How to Choose the Right Debt Solution

Start by calculating your total debt across all accounts. Include credit cards, personal loans, medical bills, and other obligations.

Compare your monthly debt payments to your take-home income. Financial experts recommend keeping debt payments below 36% of your income.

Consider your credit score when evaluating options. Higher scores qualify you for better interest rates on consolidation loans. Lower scores might make debt management plans more suitable.

Ask potential providers these questions:

• What are all fees, including setup and monthly charges?
• How long will the program take to complete?
• What happens if I miss a payment?
• Will this affect my credit score?
• Can I pay off the debt early without penalties?

Get all promises in writing before signing anything. Verbal assurances don’t protect you if problems arise.

Avoid companies that pressure you to sign immediately. Legitimate providers give you time to review documents and ask questions.

Understanding Debt Management Plans

Debt management plans differ significantly from debt consolidation loans. You don’t borrow new money to pay off existing debts.

Instead, a credit counseling agency negotiates with your creditors. They typically secure lower interest rates and waived fees. You make one payment to the agency, which distributes funds to creditors.

Most debt management plans last three to five years. You can’t open new credit accounts during the program. Accounts included in the plan are closed to prevent additional charges.

Benefits include:

• Lower monthly payments through reduced interest rates
• One simple payment instead of juggling multiple accounts
• Professional guidance throughout the repayment process
• Less credit score damage than debt settlement or bankruptcy

Downsides to consider:

• You must close enrolled credit card accounts
• Programs require consistent monthly payments for years
• Missing payments can result in removal from the program
• Not all creditors participate in these plans

Cambridge Credit Counseling specializes in creating customized debt management plans. Their certified counselors review your complete financial situation. They help you understand which debts to include and create a realistic budget.

The Bottom Line on Priority Plus Financial

Priority Plus Financial offers legitimate debt consolidation services with BBB accreditation. Customer reviews are mixed, with some praising their service and others reporting communication problems.

Before choosing Priority Plus Financial or any debt consolidation provider, compare multiple options. Understand all fees, terms, and potential impacts on your credit score.

Credit counseling agencies often provide similar services at lower costs. Nonprofit organizations focus on your financial wellbeing rather than profit margins.

Take time to research your options thoroughly. The right debt solution depends on your unique financial situation, goals, and comfort level with different approaches.

Whatever path you choose, taking action to address your debt is the most important step. Ignoring mounting debt only makes the problem worse over time.