For some 18 years now, DS Financial has held offices in FL and NY and offers consumers a debt settlement program different from many of their competitors. They are able to settle personal and business debts for as little as 25 cents on the dollar.

The Good

DS Financial Services offers a unique approach to the settlement process requiring no minimum amount of debt to enroll in their services. This includes anybody with a couple thousand dollars of debt to people with hundreds of thousands of unsecured debt.

What sets this company apart from many of their competitors is their transparency with the process, which anybody can learn about with their no-risk, no-obligation free consultation. Representatives are 100% honest with how the settlement process works. During the consultation, specialists will assess the caller’s financial situation and determine if their program will suit them well. They only take on debts in collections or debts that have been charged-off. Often times, other settlement firms ask clients to stop making payments to their creditors in order for their arbitrators to begin the settlement process. Representatives at DS informed us that this is often a dishonest tactic to lure in consumers in debt distress. DS does not function this way.

First off, they will never ask clients to stop making payments for it is extremely unethical to take advantage of those who are under economic distress. All accounts must, in fact, be in collections in order for any creditor to agree to reduce the amount owed. The logic here is that if creditors see is the consumer is still making payments, then why settle.

DS Financial’s fee structure differs from most other settlement companies in the sense that most clients pay a little as 10% and as much as 50% of the total debt enrolled. This is made possible because they do not require clients to set up a trust account. They ask that clients build up the funds necessary to begin the negotiation process, which reduces the length of time it takes to settle debts and the monthly maintenance fees charged by the banks to hold the trust account. Note that clients with a substantial amount of debt will be charged a lower percentage than those looking to settle just a couple thousand in the program. This process allows clients to see debts settled in a shorter amount of time while paying fewer fees in the long run.

Highlights to this company include:

  • Free Consultation
  • No minimum enrollment amount
  • 10% to 50% service fees

The Bad

The company stands out by being upfront and honest with the entire process. Albeit, we would like to see more structure and transparency outlined on the company’s website, as information is relatively limited online. The company holds no accreditations with the AFCC and IAPDA. Do not expect this to change because the company is an all for-profit establishment. Another cause for concern is their inability to set up a trust account for clients. Although this method may save on client fees and produce results in a shorter amount of time, many of their clients got into financial trouble in the first place by not being able to have funds for a rainy day. Note that this may not always be the case though.

Last, we would like to see more educational tools and resources offered to clients enrolled in their program. Only a list of a few trivial facts are listed on the company’s website. The site also lacks a FAQ page, a company profile page, and a policy or terms page. Compare to the top rated debt settlement companies

The Bottom Line

DS Financial Service’s unique approach to debt settlement may work great for some. They do settle debts faster than most of the competition, which may save consumers some money, but this doesn’t mean this is the best choice for all consumers. It is paramount to weigh the pros and cons carefully before enrolling with any company to help determine if the program will fit your specific needs. The fees are reasonable and even some of the lowest in the industry depending on the total amount of debt enrolled. If a client can come up with a large lump sum, at least 40% of your total debt, this company may be what you are looking for. Otherwise, we recommend our top settlement companies.