LowerMyBills.com helps consumers by allowing them to compare monthly bills and reduce living costs. The company states that they can reduce borrower interest rates by 30%. LowerMyBills.com was found in 1999 and was purchased by Experian in 2005.

They provide many industries to choose from along with their debt consolidation service. One important piece of information to know about this company is that many past clients have claimed that they save personal information whether you submit it or not.

LowerMyBills Reviews

About LowerMyBills.com

LowerMyBills.com offers an array of free online services for customers. Among these services is refinancing, home purchase, auto insurance, life insurance, personal loans, and auto loans. LowerMyBills.com also offers solar energy option to help lower energy bills. The only service available for customers to consolidate their debt is to apply for a new personal loan to pay off their old ones.

Basic Information

  • Address: 4859 W Slauson Ave #405, Los Angeles, CA 90056
  • Web Address: http://www.LowerMyBills.com/
  • Date of Founding: 1999
  • BBB Accredited? No.

The Company

LowerMyBills was founded by Matt Coffin in 1999, before being sold to Experian, a leading credit bureau, in 2005 for $380 million. He then actually became the president of Experian Online Customer Acquisition Services, but right now he doesn't seem to have anything to do with either LowerMyBills or Experian and is a board member of several other companies, including Machinima.

These days LowerMyBills is owned by Rock Holdings Inc, who also own Quicken Loans. LowerMyBills is a huge company that has grown very quickly, but its heyday was in the early 2000s and it doesn't seem to be making as much of an impact in this sector as it once did.

LowerMyBills has around 100 employees and turns-over $30 million a year on average.

The Services

LowerMyBills promise to help customers reduce their household bills, covering everything from insurance to utilities. It is not the only company out there offering this service and there are also a wealth of comparison websites doing something similar, but LowerMyBills was quite innovative when it was first founded some two decades ago.

The Employees

It's actually quite rare to find employees that have good things to say about companies in this sector. This is true of the biggest companies (such as GreenPath Financial Wellness, Navicore Solutions and Money Management International) and of the smaller ones. However, we have heard nothing but good things concerning LowerMyBills and the way they operate internally.

There aren't even that many complaints about low pay, which is a common complaint in every profession. There have been a lot of customer complaints and bad reviews, which we will get to soon, but as far as employees go this is a solid company. If you're in need of a job and they have an opening, we would definitely recommend going for it.

The Reviews

We have our own LowerMyBills review below, but first let's take a look at what customers have to say. As we have mentioned many times before, you can always expect a disproportionate number of bad reviews from companies in this sector, as few customers will leave a good review when they have had a positive experience, but most will leave a bad review when they have had a negative experience.

The problem is, even when we take that into consideration the number of bad reviews that exist for LowerMyBills is still far greater than we would expect. These customers are not complaining that LowerMyBills are not doing their job and delivering on their promises. If anything they are complaining that they are delivering too much.

The vast majority of these complaints point towards their marketing practices as being the biggest issue. As soon as you use their services they begin pushing your details to a host of providers, and those providers will then use your details to make offers. Even if you take them up on those offers, they still have your details in their marketing lists and so do dozens of others, so those offers just keep coming.

LowerMyBills have actually been investigated for these practices in the past. It's a cash cow for them, and because they are offering a free service maybe they feel that it is acceptable. But it's not. Information is a valuable commodity and LowerMyBills seem to be abusing it.

There is not a single aggregated user review site where LowerMyBills score more than 4 out of 10 and on most of them they score less than 2 out of 10. They have even been flagged on consumer warning sites, with some calling LowerMyBills a scam because of these practices.

We wouldn't go quite that far, but we would certainly advise caution to all prospective customers.


LowerMyBills Review

See below for our review of LowerMyBills and their services. Be sure to checkout similar services as well, including InCharge Solutions, Advantage Credit Counseling, and Best Egg.

The Good

  • Single platform that can help when comparing rates
  • Funding is available in as little as 3 days

Comparison Platform

As a comparison platform ourselves, we do find it impressive that LowerMyBills company has been in business for 17 years, especially considering the amount of negative press they have received from recent lawsuits and from a deluge of customer complaints and reviews.

The company's comparison platform works by matching a customer’s needs with companies that can meet those needs. It is as simple as that, but it is also incredibly useful as there are many ways in which a user's situation can differ and there are also many intricacies involved with the debt relief process. In many ways it's similar to life insurance.

You have to consider that not all companies work with all customers, that some (such as life insurance companies for seniors) offer better rates for specific needs, and that everything from the customer's age and health to their income can impact on their needs. So much has to be taken into consideration, so while a comparison site may not immediately strike you as beneficial in this industry, it really is.

Their services include all of the following:

  • Refinancing
  • First home mortgage
  • Reverse mortgage
  • Auto & life insurance
  • Auto loans
  • Solar energy connection
  • Personal loans


Matching Service

This review is going to focus mainly on their personal loan service offered by LowerMyBills, a service which could help indebted consumers find a match for their needs. By clicking on the “Personal Loan” link on the company’s website, clients will be directed to a page providing general information about how the company can help you and how the customer should progress from there.

LowerMyBills.com works with affiliate companies that offer rates as low as 5.5% APR. However, it is worth mentioning that the best rates are reserved for those seeking to enroll in a one-year contract, as well as those who have excellent credit scores and a solid financial history.

The Bad

  • Information is occasionally taken without consent
  • There is no credit counseling
  • They don't have accreditations

Information is Saved

We initially thought that this site was a credible source to compare rates and lenders. However, upon closer inspection, we found that LowerMyBills saves personal information entered into each field and that this information is saved regardless of whether or the application gets submitted or not.

This is unsettling for the consumer, as nobody wants their personal information leaked on the internet. In an age where a customer's privacy should always be the main consideration, this is very worrying.

Lack of Education or Counseling

On top of the consumer’s information being unsecured, LowerMyBills makes little to no effort to educate clients on debt and other financial matters. It seems that their sole service is to illegitimately gather customer information and sell it to third-party contributors. This obviously does the opposite of what they claim to do, ultimately getting customers in more hot water than they are already in.

The Bottom Line

Since LowerMyBills.com solely compares companies and does not provide any consolidation services, it's hard to rank these with the same criteria that we have ranked other companies in this sector. It goes without saying this company won’t satisfy anyone who is looking for a legitimate consolidation service, but that doesn't necessarily mean that they are not in anyway useful to people in debt.

They do not offer loans, and they lack federally backed and nationally recognized accreditations usually associated with consolidation companies. If you want solid support from a company that can actually provide an expert opinion and then help you escape the clutches of debt, LowerMyBills are not the company for you.

On the other hand, if you want advice on which company to use for consolidation, they could help. Just bear in mind that your information might be sold to other consolidation companies and that these companies might then try to sell you their services at a time that is not necessarily convenient to you.