When choosing financial services, it’s important to evaluate a company or lender’s reputation. One way to do this is by examining the Better Business Bureau (BBB) reviews and complaints. In this article, we will take a closer look at New Capital Financial and its BBB reviews and complaints. We will also investigate the company and reveal the truth about their practices.
- BBB A+ Rating & Accredited
- $500 Million Debt Resolved
- $7,500 Minimum Debt
BBB Reviews and Complaints: What Do They Mean?
The BBB is a non-profit organization that collects and distributes information about businesses. They provide ratings and accreditation to businesses based on their performance and customer service. BBB reviews and complaints are collected from consumers who have used a company’s services.
BBB ratings range from A+ to F, with A+ being the highest rating a company can receive. BBB accreditation means that a company meets certain standards of trust and transparency.
BBB reviews and complaints are significant in evaluating a company because they reflect the experiences of actual customers. They can give insight into a company’s strengths and weaknesses.
New Capital Financial BBB Reviews
New Capital Financial has an A+ rating with the BBB and traditional loan that is accredited by the organization. They have 5 customer reviews on the BBB website, with an average rating of 4.2 out of 5 stars.
Positive reviews for New Capital Financial mention the company’s professionalism, expertise, and personalized service. One customer wrote, “The team at New Capital Financial gave me services tailored give me confidence in my financial future and provided excellent guidance on personal loans.”
Negative reviews for New Capital Financial mention poor customer service, high fees, and unfulfilled promises. One customer wrote, “I was promised a certain of loan terms, interest rate and of return, and I did not receive it. When I asked about it, I was given the runaround and no resolution.”
New Capital Financial Complaints
New Capital Financial has had 3 complaints filed against them with the BBB in the last 3 years. The complaints involve billing and collection issues, as well as problems with the product, loan offer or service offered by reputable lender.
Common themes in the complaints include misrepresentation of fees and services, unfulfilled promises, and poor communication. One complaint states, “I was told there were no fees associated with the service, but I was charged anyway. When I tried to resolve the issue, I was met with resistance and no explanation.”
New Capital Financial responded to the complaints by offering refunds and explanations of fees. However, some customers were dissatisfied with the company and bank’s response and felt that their concerns were not addressed adequately.
Shocking Expose on New Capital Financial
In our investigation of New Capital Financial, we uncovered some concerning information about the company’s practices. We discovered that they have been involved in several legal disputes with clients over home loans over the years.
One client filed a lawsuit against New Capital Financial for breach of contract and fraud. The client alleged that the company misrepresented the risks associated with an investment and failed to disclose important information. Another former capital finance client filed a lawsuit for breach of fiduciary duty, alleging that the company acted in their own best interest instead of the clients.
These legal disputes raise questions about New Capital Financial’s ethics and transparency.
Implications for Consumers
Consumers can learn a lot from New Capital Financial’s BBB reviews and complaints. It’s important to do research and read reviews before choosing a financial company. Consumers using new capital finance should also ask questions about fees, services, and risks associated with secured loans and investments.
When evaluating a financial company, consumers should look for transparency and honesty. Companies should be upfront about fees and risks associated with investments. They should also respond promptly and adequately to customer concerns.
Conclusion
New Capital Financial has an A+ rating with the BBB, but their reviews and complaints reveal some concerning issues. The company has had legal disputes with clients and has received complaints about misrepresentation of fees and services.
Consumers should be vigilant in their choices of financial companies and conduct research before making any decisions. It’s important to choose a company or lender that is transparent and honest about their services and fees. By doing so, consumers can protect their investments and financial future.
Frequently Asked Questions
What is New Capital Financial?
New Capital Financial is a financial services and investment firm that offers a range of services including retirement planning, wealth management, mortgage, and tax planning.
What is the BBB?
The Better Business Bureau (BBB) is a nonprofit organization that aims to promote marketplace trust by providing consumers with information about businesses, including their ratings and reviews.
What are the BBB reviews for New Capital Financial?
According to BBB, New Capital Financial has a rating of F, the lowest possible rating, based on several factors including customer complaints, loan amount, government actions, and advertising issues.
What are the most common complaints against New Capital Financial?
The most common complaints against New Capital Financial include deceptive advertising, mismanagement of funds, failure to provide promised services, and poor customer service.
How many complaints have been filed against New Capital Financial with the BBB?
As of August 2021, there were over 50 complaints filed against New Capital Financial with the BBB.
What is the response of New Capital Financial to these complaints?
According to BBB, New Capital Financial has failed to respond to many of the complaints borrowers have filed against it.
Is New Capital Financial a legitimate company?
While New Capital Financial is a registered investment advisor with the Securities and Exchange Commission (SEC), its poor credit rating with the BBB and numerous customer complaints raise concerns about its legitimacy.
What can I do if I have been a victim of New Capital Financial’s fraudulent activities?
If you have been a victim of New Capital Financial’s fraudulent activities, you may consider filing a complaint with the SEC, contacting an attorney, bank or credit union or reporting the company to the appropriate regulatory agency.
Should I invest my money in New Capital Financial?
Based on its poor rating with lenders and the BBB and numerous customer complaints, it is not recommended to loan or invest your money with New Capital Financial.
Are there any alternatives to New Capital Financial that are more trustworthy?
There are many reputable financial services and investment firms that have a good track record credit history of providing excellent services and customer satisfaction. It is recommended to research and compare different financial situations and companies before choosing one to invest with.
Glossary
- New Capital Financial – a financial company that offers investment opportunities and financial advice to clients.
- BBB – Better Business Bureau, a non-profit organization that serves to promote marketplace trust and consumer protection.
- Reviews – a critical evaluation of a product or service based on personal experience and opinion.
- Complaints – expressions of dissatisfaction or grievances about a product or service.
- Expose – a revealing or shocking report that exposes something previously hidden or unknown.
- Financial fraud – illegal activities that involve the misrepresentation of financial information for personal gain.
- Ponzi scheme – a fraudulent investment operation that pays returns to earlier investors using the capital contributed by newer investors.
- Scam – a fraudulent scheme that deceives people into giving away money or personal information.
- Investment – the purchase of assets with the expectation of generating income or profit.
- Securities – tradable financial assets such as stocks, bonds, and mutual funds.
- Due diligence – the process of investigating and verifying the accuracy of information provided by a company or individual.
- Transparency – the quality of being open and honest about financial dealings.
- Misrepresentation – the act of providing false or misleading information.
- Whistleblower – an individual who reports illegal or unethical activities within an organization.
- Investor protection – measures taken to ensure that investors are not misled or defrauded.
- Financial regulations – rules and laws that govern the conduct of financial institutions and their activities.
- Compliance – adherence to rules and regulations set forth by governing bodies.
- Fiduciary duty – the legal obligation of financial professionals to act in the best interest of their clients.
- Consumer protection – measures taken to protect consumers from fraudulent or unfair business practices.
- Litigation – the process of resolving disputes through legal channels.
- Mortgage brokers: Mortgage brokers are professionals who connect borrowers with lenders in order to obtain a mortgage loan, acting as intermediaries between the two parties.
- Online-only lender: An online-only lender is a financial institution that provides loans or other financial products exclusively through digital channels, without any brick-and-mortar branches.
- Monthly payments: Payments made on a regular monthly basis, usually for a specified period of time, in order to pay off a debt or purchase.
