This Signature One Financial Review
In this Signature One Financial Review we will be reviewing Signature One Financial Personal Unsecured Loans. Our reviews of these Signature One Financial personal unsecured loans will be based on actual testimonials and some of the facts regarding Simple Interest vs Compound Interest.
Signature One Financial Review Including Client Testimonials
Earlier this year we started Phase 2 of the Signature One Financial Reviews by contacting the principles at Signature One Financial and requesting permission to make random contact with the Signature One Financial client base. We were pleased at the response from Signature One Financial in permitting the CFRB to make contact with the Signature One Financial client base in order to further our Signature One Financial Reviews.
Signature One Financial Personal Unsecured Loans Perfect For Debt Consolidation
In the this CFRB Signature One Financial client testimonial review we discovered that over 90% of the Signature One Financial Personal Unsecured loan clients used the personal unsecured loans for debt consolidation primarily to pay off high interest credit card debt. This statistic is due in part to the marketing done by Signature One Financial where they send out pre-selected notifications to consumers who fit a specific criteria that provides Signature One Financial with their highest degree of success as discussed in previous Signature One Financial Reviews and the mathematics behind Simple Interest vs. Compounding Interest. In this Signature One Financial Review we will look at the difference between Simple Interest vs. Compounding Interest and the Signature One Financial personal unsecured loan and why it is perfect for debt consolidation when paying off high interest credit card debt.
Signature One Financial Review “How Do They Do It”
In this part of the Signature One Financial Review we ask the question “How Do They Do It”? In reviewing Signature One Financial clients we were amazed to discover how many people with damaged credit or low credits scores were able to qualify for a Signature One Financial Personal Unsecured Loan. For example one client in particular amazed us. For the sake of identity protection we will simply refer to this client as Jane.
“Jane received a letter from Signature One Finacial in the mail stating that she had been pre-selected to receive a personal loan from Signature One Financial for up to $35,000.00. She needed the money to pay off high interest credit card debt but she knew her credit was less than needed for this type of loan. Jane gave it a shot and called Signature One Financial and applied for the loan. Jane was contacted the next day and informed that her credit score through Experian was 537 and that this is considered a very low credit score. The Signature One Financial representative continued to counsel Jane on why the credit score may be so low and what she could do to improve her credit score and maintain it in the future. Jane felt as if she was being let down gently but still appreciated the advice from the Signature One Financial representative. At that moment the Signature One Financial representative informed her that she was approved for a personal unsecured loan with a fixed interest rate and a term of either 3 or 5 years”.
What we said approved with a 537 credit score? It would be hard to get a secured loan with a 537 credit score!
And that is just one of many testimonials about Signature One Financial and why we maintain our 5 star rating in our Signature One Financial Reviews.
Signature One Financial Review, Personal Unsecured Loans Are Great For Debt Consolidation
In this part of the Signature One Financial Review we look at the Signature One Financial Personal Unsecured Loan and why it is perfect for debt consolidation. To do this we will look into the mathematics of Simple Interest vs. Compounding Interest, but first let’s state some aspects of the Signature One Financial Unsecured Personal Loan and Credit Card debt.
The Signature One Financial Unsecured Personal Loan components are as follows:
- Simple Interest
- Fixed Rate
- No Pre-Payment Penalty
- 3 or 5 year Term
Credit Card debt components are as follows:
- Compound Interest
- Interest compounded against average daily balance
- Variable Rate
- Minimum Payments Can Go On For many Years
Simple Interest vs Compound Interest
- Simple interest is applied to the principle loan amount
- Compound interest is applied not only to principle amount but also to the interest it accrues.
- Most credit cards compound their interest on an average daily balance
The mathematics for calculating simple interest are fairly simple as compared to the mathematics for calculating compound interest, but since compound interest charges interest on the interest that has accrued on the balance, carrying any balance on credit cards for more than a few months becomes very expensive. Add to that compounding interest on an average daily balance credit cards can cost you many times over the amount you originally charged.
Most consumers do not understand the complexities of the mathematics behind the compounding of interest on their credit cards making it extremely easy to get caught up in a web of credit card debt that may seem impossible to escape.
With a personal unsecured simple interest loan like the ones Signature One Financial provide you are able to stop the compounding of interest on your debt and save thousands of dollars by paying off your debt with simple interest as well as the possibility of monthly payment relief.
Signature One Financial Review Maintains A 5 Star Rating
Due to the business model and commitment to serve the consumer as supported by consumer testimonials the CFRB maintains its original 5 star rating in this Signature One Financial Review.
As always the CFRB encourages your comments on this and all the reviews published through this website.
Federally Regulated Debt Relief, Debt Settlement or Debt Reduction Programs
In this post the CFRB addresses a somewhat controversial topic, the topic of the Federally Regulated Debt Relief Program also referred to as Federally Regulated Debt Settlement and or Federally regulated Debt Reduction Programs and the amendments to the telemarketing sales rule regarding Debt Relief, Debt Settlement or Debt Reduction companies brought by the Federal Trade Commission (FTC) effective in 2010 bringing needed regulation to this industry. Debt Relief, Debt Settlement or Debt Reduction programs that operate under this regulation AKA Federally Regulated Debt Relief Program or Federally Regulated Program must adhere to provisions that protect the consumer when entering into business arrangements or contracts with Debt Relief, Debt Settlement or Debt Reduction companies operating under the Federal Regulation of the FTC and provide Debt Relief services through the Federally Regulated Debt Relief Program or Federally Regulated Program for debt Relief. Although It may sound repetitive to continue to state Federally Regulated Debt Relief Program, Federally Regulated Debt Settlement or Federally regulated Debt Reduction Program but we do so since these terminologies are frequently interchanged by different Debt Relief, Debt Settlement or Debt Reduction Companies trying to create their own brand for the Federally Regulated Debt Relief Program or Federally Regulated Program. That being said we will continue this post using the terminology Federally Regulated Debt Relief Program or Federally Regulated Program.
We have chosen the Federally Regulated Debt Relief Program or Federally Regulated Program topic due to the overwhelming negative results of our investigations on several Debt Relief, Debt Settlement and Debt Reduction companies. This is not to say that all companies providing the Federally Regulated Debt Relief Program have received bad reviews from the CFRB, companies like Signature One Financial in there initial Signature One Financial Review received our highest 5 Star rating and have maintained this 5 Star rating through several Signature One Financial Reviews and they have received supporting comments and testimonials in their Signature One Financial Reviews from consumers that have conducted business with Signature One Financial. Signature One Financial provides there Signature One Financial Liberty Program AKA Signature One Financial Federally Regulated liberty Program or Federally Regulated Liberty Program for consumers who could qualify for their personal unsecured debt consolidation loan.
Customer Service Is a Key Factor in The Federally Regulated Debt Relief Program
How can so many companies offering this Federally Regulated Debt Relief Program get such bad reviews while other companies offering the Federally Regulated Program for Debt Relief, Debt Settlement or Debt Reduction receive raving 5 Star reviews?
The first and obvious answer is a commitment or lack thereof to the consumer to provide a valuable service with the highest level of excellence and the fact that prior to the Federally Regulated Program some companies provided exceptional customer service and results that matched or exceeded their promises to the consumer. So many people (business owners included) will take the easy way out of any situation. In dealing with Debt Relief, Debt Settlement or Debt Reduction you are dealing with consumers that may be feeling hopeless and like they have no other options. This could make them an easy mark for business owners who are inclined to taking the path of least resistance to make a fast buck. This same scenario creates an opportunity for excellence to stand out when offering the highest level of customer service to consumers in desperate need of a Debt Relief, Debt Settlement or Debt Reduction Program.
That being said let’s look at the changes brought forth by the FTC in the Federally Regulated Debt Relief Program and how this Federally Regulated Program benefits the consumer looking for Debt Relief. Looking at the changes the FTC’s Telemarketing Sales Rules Amendments for Debt Relief Companies brought we must keep in mind that the underlying commitment to provide service to the consumer with or without the federal regulation will determine the companies level of excellence and overall service to the consumer in Debt Relief or any industry.
Things to Know Regarding the Federally Regulated Debt Relief Program
No Upfront Fees
- The Debt Relief Company must complete the services promised including successful negotiation of new terms and agreements with the creditor that the consumer accepts and makes at least one payment to the creditor before the Debt Relief Company can be paid.
Dedicated Trust Account
- The Debt Relief Company may require consumers to set aside fees and savings for payment to creditors in a Dedicated Trust Account. Debt Relief Companies can only require a dedicated trust account when these 5 conditions are met.
- The dedicated trust account must be at an insured financial institution.
- The consumer is the sole beneficiary or owner of the funds including interest earned in the dedicated trust account.
- The consumer has full access to the funds at all times without penalty for withdrawal.
- The Debt Relief Company has no ownership interest or control in the financial institution.
- The Debt Relief Company cannot exchange any referral fees with the financial institution.
Disclosures and Prohibited Misrepresentations
- Debt Relief Companies must disclose their fees
- Debt Relief Companies must disclose how long it can take for consumers to see their results.
- Debt Relief Companies must disclose the potential for negative consequences to the consumer including how the debt relief program can affect their credit, calls to the consumer from the creditor and the closing of credit cards enrolled in the Federally Regulated Debt Relief Program.
- The Debt Relief Company is prohibited from stating performance rates that cannot be backed up by actual results
As always your comments are appreciated in this and all post and reviews on this web site
Reviews of other companies with names similar to Signature One Financial
This Signature One Financial Review address the reviews of other finance companies that have similar names and are populating in google, Bing, Yahoo and other search engines when the phrase Signature One Financial Reviews or the phrase Signature One Financial Review are entered into the search engines even simply entering Signature One Financial without using the word Review or Reviews.
Signature Capital Ripoff Report Complaint Review is Not a Signature One Financial Review
One finance company review in particular that populates in the search engines when Signature One Financial Review, Signature One Fincial Reviews or Signature One Financial without the word Review or Reviews is entered, a Ripoffreport.com review of a company named Signature Capital International LLC, located in Aliso Viejo California as opposed to Signature One Financial located in Corona California. The Review is titled Signature Capital Complaint Review and list many scathing comments against Signature Capitals and its partners. Oddly one of the partners is mentioned whose name is Dean Barrat. We bring up the partners name as being odd due to the fact that Signature One Financial (a completely different company with a similar name as Signature Capital) employs a Sr. financial Consultant named Dean Barwick two totally different individuals but again the similarities could mislead consumers searching for reviews for Signature One Financial or reviews for Signature Capital.
Know which company review you are reading. Signature One Financial Review or Not?
The purpose of this Signature One Financial Review is not to support the Rip Off Report Signature Capital Complaint Review, but only to bring light to the fact that they are two totally different companies and due to the similarities of their names the facts could be easily misunderstood and mislead consumers unless they look deeper into the identities of the actual company they are seeking to review.
This is a concern to us at the CFRB due to the fact that we have been publishing reviews for Signature One Financial based on our ongoing investigations into Signature One Financial and our Signature One Financial Reviews have maintained our highest rating. (Look under Signature One Financial Reviews category on this website).
What does Signature One Financial do?
From our short look into the Signature Capital Complaint Review in RipOff Report it appears their complaints stem from their activities in Real Estate Investments.
In our Signature One Financial Reviews and ongoing investigations we have found no such business activities conducted by Signature One Financial. Instead our investigation shows that Signature One Financial provides consumers with fixed interest rate personal unsecured loans primarily for debt consolidation purposes and the Federally Regulated Liberty Program for consumers with high credit card balances that cannot qualify for their personal loans.
In our ongoing Investigation for the Signature One Financial Reviews we have found no Signature One Financial Complaints, Signature One Financial Rippoff Report Reviews, Signature One Financial Scam Reviews or any negative Reviews for Signature One Financial.
As always we encourage consumers to comment on our reviews to help the CFRB bring accurate information regarding consumer finance companies into the light.
Recap of phase 2 of the Signature One Financial Review
Today we are continuing in phase 2 of the Signature One Financial Review. I f you read previous versions of the Signature One Financial Reviews especially the Signature One Financial Review phase 2 we shared how we would contact Signature One Financial and request permission from Signature One Financial to conduct random interviews with their existing clients or consumers who have done business with Signature One Financial.
Although if a company that would not permit such access it should be held against them, however the willingness of a company to allow this type of investigation reveals their openness and honesty in regards to their commitment to serving the consumer.
Signature One Financial’s commitment to the consumer confirmed
When we contacted Signature One Financial regarding this request for our Signature One Financial ongoing Reviews we were delighted to receive there openness and agreement to allow our interviews with Signature One Financial clients. currently we are working with Signature One Financial to create an opt-in procedure to allow us to make random contact with the Signature One Financial client base in order to conduct surveys for our Signature One Financial Reviews.
A closer look into Signature One Financial
During this conversation with Signature One Financial more light was shed to support our 5 star rating in these Signature One Financial Reviews we spoke with Chuck Reid one of the directors at Signature One Financial. Chuck shared his own story of how he had incurred a large amount of credit card debt and how he was able to get out from under the burden of this mountain of debt. He stated that this motivated him to help other consumers by providing solutions for debt consolidations.
Signature One Financial’s Business Model
signature One Financial markets to consumers based on criteria that has proven to be the most successful in helping consumers consolidate credit card debt. They offer unsecured signature loans with fixed rates starting at 6.73% with terms of 3 to 5 years designed to lower monthly payments and get out of debt fast. These loans are simple interest loans compared to the compounding interest charged by credit card companies. In cases were the borrower cannot qualify for these loans Signature One Financial offers the Federally Regulated Liberty Program as an alternative solution to consumers burdened with credit card debt. We maintain our 5 star rating for the Signature One Financial Review and are looking forward to releasing the results of the Signature One Financial Review interviews/surveys of their clients
As always your support through comments are highly encouraged.