Is point break financial legit? If you have ever encountered a lending platform in the US called Point Break Financial, you might be curious to know how legitimate it is. Do you care to know what Point Break Financial Reviews have got to say from top reviewing websites like BBB? Are you wondering whether Point Break Financial is legit or not? If yes, you are on the right article.
BBB has had a lot of users share their experiences and opinions on what Point Break Financial is and what they experienced. We have collated a lot of review opinions from different sources and gathered them in this review post to help you make a fast decision about PBF.
And hey, according to the recent findings by Ben Tejes, Point Break Financials is tied to a group that has been recently sued and filed for bankruptcy. With his research still at large, he confirmed he could be reached on the phone if you get into them for financial assistance. Here, we will dig into finding whether Point Break is legit and essential aspects you need to know about the institution.
What Is Point Break Financial All About?
Point Break Financial is not a lending platform; they do not lend money. However, they serve as a platform that links to your lender to consolidate your debts. So, they are not the best choice when looking for a debt-consolidating institution.
One of the biggest issues about this institution is that they don’t lend, but they use switch and bait tactics to convince you to sign up for their affiliate lender services. This is one of the reasons they are poorly rated in the financial service market.
The average rating of the Point Break Financial reviews on BBB is 1 star, which suggests that many people don’t know the platform well but think they can get money from it and end up with their affiliate platforms. If you are one of those, you might need to rethink and look for apps that would actually give you a loan, such as Solo Funds, Beforepay, and a lot of others that we have reviewed in our loans category.
I know you might be unfamiliar with debt settlement. It is either called debt settlement or debt consolidation. Point Break Financial offers just that and you can use their partners who provide debt consolidation to settle for your debts so that you end up paying likely a smaller portion of your debt.
So debt consolidation or settlement basically is using another loan company to negotiate your loan with another company so that you are able to get a lower amount to pay that company through the debt consolidation partner, and that is where Point Break Financial comes in and plays a vital role by merging you with the partners.
While many people find this option interesting and helpful, some might see it as not favorable and opt out of it without a second thought, which is normal for everyone based on their individual preferences.
Is Point Break Financial Legit?
Yes, Point Break Financial is legit. However, you need to understand the nature of their business because they are not direct lenders but affiliates who lure people into taking a loan from their partners in order to consolidate their debts.
As of December 27th, crixeo.com awarded Point Break Financial a 2-star rating, which is not pleasant at all. I can’t outright tell you that Point Break Financial is legitimate or a scam. However, below are some reasons I would love you to look into before concluding.
– Point Break Financial is not a lender but employs switch and bait schemes to persuade you to sign up for third-party loan providers. They send you a direct mail promising a debt consolidation of a 5.99% interest rate, which,h in the real sense, is false. Once you sign up, they jack up the interest rates, and there have been complaints about hidden fees. So you may leave more broke and in debt than when you signed up.
– Point Break Financial does not have any form of control over lender creditworthiness eligibility criteria. So, there are no specific APR/interest rates. It varies depending on the lender.
My sincere advice is that you shouldn’t sign up for Point Break Financier’s services unless you are sure that you can afford the hidden fees. You might end up in a worse debt hole than you were before. Kindly calm down and do your research, and be sure before signing up for Point Break Financial Services, or you will regret it later in the future.
Point Break Financial Reviews That Show They Are Not Legit
There have been a lot of Point Break Financial reviews on the internet, but let us feature some of the best reviews that would interest you.
According to Crixeo and about three reviews made by three reviewers, they were offered two stars out of 5. A lot of other people have complained about this company. They claimed to be a debt consolidation loan company, which is all a lie, according to many reviews.
What is the Service Cost of Does Point Break Financial?
Point Break Financial is not a lender, but it charges an upfront service cost of $500. However, this differs depending on the lender, and some hidden charges get tacked up, which you will be requested to pay after a given period.
Their real service cost is beyond what is being advertised on their website. If you aren’t careful, you will end up paying an unreasonable amount beyond what you planned for as a service cost for a service that isn’t worth it.
When you check BBB.org’s website, you will notice a lot of bad reviews from customers who complain about the product and services. A BBB user threatens to sue Point Break Financial for sending craps to their house, asking him to take their loans. He said they constantly called him, demanding that he do it.
These morons constantly call and send trash to my house! I dont WANT YOUR STUPUD LOAN CRAP! I dont know how the h*** you got my address and phone number! BUT LOSE IT! Im filing a report with the *** and attorney general about this non stop spam crap! Lose my **** information or Im-suing you!
What Is Point Break Financial Debt Consolidation Loan Minimum Credit Score?
Point Break Financial is not a lender, so they don’t have a stipulated minimum credit score that qualifies you for a loan. However, the platform will notify you of the credit score the lender demands based on individual terms. The minimum credit score to qualify for a debt consolidation loan is 640.
This is derived from a general context in the US loan markets. If you are considering a Point Break Financial debt consolidation loan, be sure to compare rates and terms from other lenders before you apply. You can also use a debt consolidation calculator to see how much you could save by consolidating your debt.
Some companies like LightStream, SoFi, Earnest, Prosper, and Upstart all offer debt consolidation and you can consider checking their rates and ensure you are not overpaying with the Point Break Financial partners.
Who is Point Break Financial affiliated with?
The Point Break Financial’s website stated that:
“This website is owned by Point Break Holdings LLC., located at 1968 S Coast Highway #1028 Laguna Beach, CA 92651. All the loans are offered by Point Break Holdings LLC dba Point Break Financial affiliates such as Kuber Financial and LLC dba Mobilend.
If you have issues or questions about the products offered by the affiliates, directly contact Kuber Financial or visit Point Break Financial, located at S Coast Highway #1028 Laguna Beach, CA 92651.
Conclusion
Point Break Financial is not outrightly a scam. Its hidden fee and use of bait and switch tactics make it an unreliable platform to use. Moreover, they don’t lend; they only link to lenders. They are partners with many lenders who they link you up with to get your loan while they get their commissions. However, they can charge customers unnecessary fees, according to many complaints.
