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Safestone Financial Review: Is It A Scam Or A Legitimate Company?



Safestone Financial

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For all those who have heard about Safestone Financial, the question about the company’s legitimacy always arises. People are divided on this. Some people claim to have a positive experience dealing with the company. Others, however, review their experiences in an entirely negative light. With such contrasting opinions, it is essential to know whether Safestone Financial is a scam or not. This review will do a detailed analysis of the company and its services. provides debt consolidation services to its customers. However, its working process is rather different. It is not itself a money-lender. Rather, it is a lead-generating company. A lead-generating company connects you with different money-lenders by selling your personal information to them. Hence, customers need to be a little cautious. This is because not many people like having their personal information sold to others.

Safestone Financial offers various debt settlement and debt consolidation programs. Unfortunately, as we mentioned earlier, they don’t provide these services themselves. This can lead to potential mistrust as the third-party money lenders can be anyone. Additionally, the interest rates on these debt consolidation loans are quite high.

We recommend extreme caution if you plan to reach out to Safestone Financial for their debt consolidation services. It is better to do a thorough market research first before making your decision.

What Is Safestone Financial?

Safestone Financial is a lead-generating company that money lenders reach out to buy their customers’ personal information. Many people have reported that Safestone Financial uses bait and switch schemes. These schemes involve advertising highly attractive and low-interest rates to create interest in the customers. However, their offerings are changed when the customer reaches out to them. Several customers have complained against these deceptive marketing tactics, especially those in desperate need of money.

Moreover, the sales team of Safestone Financial is quite aggressive in their methods and will use high-pressure tactics to convince you to use their services. Customers have to always be on their guard whenever they are dealing with this company.

Safestone Financial Pros and Cons

One of the biggest disadvantages of Safestone Financial is that they sell your personal information to other businesses. Because of this, you will essentially become a lead for all those companies.

There is a common complaint against Safestone Financial regarding their bait and switch marketing tactics to lure customers. Such practices are quite unethical and don’t reflect positively on the company.

Additionally, Safestone Financial doesn’t have a Better Business Bureau (BBB) account. BBB is a well-known website that reviews different companies. Unfortunately, there are no customer reviews about Safestone Financial on the website, making it difficult for you to make an informed decision.

Despite all these drawbacks, Safestone Financial does have some benefits. Their website is easy to navigate around, and the online application process is quite simple. However, these aren’t enough to offset the disadvantages. Customers should be well-prepared before approaching Safestone Financial.

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Safestone Financial Known Tactics for Luring Customers

Safestone Financial uses a standard format for attracting customers, using their bait and switch schemes. Many customers reported that their pre-approved offer had a website address and a conversation number with their names mentioned at the end (for example,

The pre-approved offer also advertises extremely low-interest rates for a large sum of money. Once again, this is all designed to get the ball rolling and get the customer to call them back.

Customers have also reported that their pre-approved offer also promised a significant decrease in the APR and the monthly payments. Such numbers will naturally show an increase in savings every month, something that every person wants.

However, all these aspects may sound too good to be actually true.

How Does Safestone Financial Work?

What Safestone Financial does is it sells your credit history and your personal information to third-party money lenders. These money lenders will then bombard you with unsolicited calls and offers for debt consolidation loans. Moreover, there are multiple reports against the company of using various false advertising tactics like bait and switch schemes.

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This is essentially their working process. Many customers have fallen prey to their schemes. Consequently, we warn the customers to be extremely careful of these practices. It is best if they opt for another company’s services.

Types of Loan Safestone Financial Offers

On Safestone Financial’s website, there are different types of loans like business loans, debt consolidation loans, and personal loans. Because of their bait and switch schemes, many customers have complained about how the actual interest rates were significantly higher than what Safestone Financial had advertised. Some people have also expressed their disapproval upon not getting the loan amount they needed.

All these aspects are big red flags against Safestone Financial.

How Can You Qualify for a Safestone Financial Loan?

Just like any other debt consolidation company, you need to have a good credit history and a steady source of income if you want to qualify for their loans. Additionally, you should also have U.S citizenship or a permanent resident visa and be an adult (at least 18 years old). If these requirements are being met, you can apply for Safestone Financial’s loan services.

After you have finished your online application, the company will review and sell your personal information to different money lenders. Once they have approved your application, they will give you a list of money lenders along with their various offers and interest rates. You can then make your decision according to what suits you the most.

The entire process is fraught with risks. We recommend pursuing other avenues and companies that offer better interest rates.

Safestone Financial Charges

Safestone Financial has a 15% fee for using their services. This fee is not included in the fees of the money lender that you will select. For example, if you want to consolidate a debt of $20,000, you may need to pay a minimum of $600 to Safestone Financial as fees.

This is why you will need to be careful in including this fee when making your monthly payment budget. Customers should also remember that they may save money on interest charges. However, the fees will quickly rack up, which may become a huge problem in the future.

Does Pre-Approval Guarantee the Full Amount?

Unfortunately, a pre-approval doesn’t mean you are guaranteed the full loan amount. After Safestone Financial sells your personal information to third-party money lenders, they will review your entire financial history. Moreover, they will also see if you are capable of paying back the loan. If you are clear on all the stages, only then will you get the loan amount. A pre-approval letter doesn’t promise anything, so keep your expectations low.

Minimum Credit Score Requirements for Safestone Financial

As per Safestone Financial’s requirements, the minimum credit score a person needs to have is 620 if they want a debt consolidation loan. However, this isn’t the only requirement. Safestone Financial will also check your total existing debt and your employment history to see if you are eligible or not. A FICO score of 620 does increase your chances of getting a loan, but there is never a guarantee.

Before applying to Safestone Financial for a debt consolidation loan, be sure to go through your credit history. Naturally, if your FICO score is high, your approval chances will also increase. A high score also gives you lower interest rates.

Does Safestone Financial Affect Your Credit Score?

Yes, using Safestone Financial‘s services will definitely affect your credit score. There are two ways this can happen. Once you have applied for their loan services, Safestone Financial will run a hard pull on you. A hard pull is when someone reviews your credit history. Hard pulls are shown in your credit reports, and they will lower the score.

Moreover, if ever you are late in making your monthly repayments, the money lender will notify this to the credit bureaus. Just like hard pulls, late payments will also come up in your credit reports. Having hard pulls and late payments will decrease your FICO score by a significant amount. They will also make it much more difficult for you to open new lines of credit.

This is why customers should never underestimate the importance of being up to date in their monthly payments.

How to Pay Back Safestone Financial

Since Safestone Financial isn’t a money lending company in itself, you don’t need to pay them back. Their earnings stream comes from selling your personal information to various money-lenders. However, you can still try to offset their service charges through different ways.

One way to do so is to negotiate with the creditors you are dealing with. If you can successfully reduce the interest rate and the monthly payments, this will be a huge benefit for you. This can save up a lot of your time and expedite your debt repayment plan too.

Another way of doing this is to transfer your whole balance into a credit card with 0% APR. You can also ask for a personal loan which has a much lower interest rate. Similar to the previous options, these will also help you save time and money.

In case you weren’t successful in negotiating with your creditors, we suggest making additional payments on your debt. This will speed up the debt repayment plan and will also save you a lot of money in interest charges.

We also recommend that you consolidate your entire debt into a single monthly payment. Doing so will help you keep track of your budget better.

There are so many options that you can choose to offset their service charges. However, it is important that you do your research properly.

How Can You Cancel Your Safestone Financial Program?

As mentioned before, Safestone Financial is not itself a money lending company. Consequently, you can not withdraw yourself from the loan program. On the other hand, if you have any questions or queries about the loan services, you can reach out to their customer service department.

Customers should also be aware that there have been several complaints about their faulty customer service. Many people are not able to contact their team. If this happens with you, you should officially file a complaint against them with the Consumer Financial Protection Bureau.

It is also possible that Safestone Financial has approved your loan application, but you still haven’t received the funds. In such a case, you should contact the customer service team and ask for a refund on the application fee. If, on the other hand, you have received the funds, you will have to pay the loan back in accordance with the terms of the agreement. For repayment of a loan, it is best if you ask the money lender directly if you need any clarification.

Safestone Financial BBB Reviews

Unfortunately, the Better Business Bureau has not accredited Safestone Financial as the company doesn’t have an account on its website. For a financial company, this is a huge red flag. Reviews of Safestone Financial are also unavailable on Trustpilot.

This lack of customer reviews doesn’t sit well with anyone and raises questions about the company’s legitimacy. This is why we want you to be very careful before making any final decisions.

Is Safestone Financial a Legitimate Company?

Safestone Financial is not a money lender itself. Because of this very fact, the company is involved in various schemes. Many people have complained against their bait and switch schemes. They advertise loans with extremely low-interest rates, but once the customer is hooked, they will change the rates.

Another point that doubts their legitimacy is the fact that they have no account on BBB or Trustpilot. Every reputable financial company is transparent about its reviews, and its account is indicative of that. In Safestone Financial’s case, this is a warning sign for the customers to be on their guard.

We would suggest that you find other money-lending companies that are more transparent with you and they can give you good interest rates. When it comes to companies like Safestone Financial, you can never trust them fully. With this review, we hope that you are now able to make an informed decision on whether you should reach out to or not. If you still insist on doing so, be wary of their schemes.

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Alexandra Rudiskin is a writer, mother of seven, and owner of a ranch in Houston, Texas. She was born into the oil industry and spent her childhood moving all over the world. Alexandra is an avid cook and loves nothing more than spending a weekend barbecuing with family and friends. Her favorite salad dressing is ranch, but she's been known to put it on everything.