My experience was pure RED FLAGS, HIGH PRESSURE SALES, BAIT AND SWITCH, filled with LIES! Do not use for debt consolidation programs. These people will burn your credit down and leave you better of declaring bankruptcy. New today is that their original website is down and it is now overlandfin.com.
I was told over the phone that they had a 0% interest credit card program that they negotiated with creditors, that it would only impact my credit for a few months, and that it would have minimal impact on my credit report. When I asked for the contract so I could read it the rep said she had to be on the phone while we went over it together, RED FLAG! I told her "NO, I need to read it in my own time with out interruption." The rep said she needs to on the phone so that she could explain the terms to me so I don't get confused, RED FLAG!
After telling the rep, no contract no deal, I received the contract and it was not a 0% interest program from Overland, but, it was a "Debt Settlement" program "Elevate Financial, LLC". They would charge 25% of my 40k debt as a fee for their part in negotiations. They would have all my credit accounts go delinquent for 180 days before paying so that they could better negotiate better terms. While my account would be going delinquent my creditors would be free to file formal court collections and go after my assets.
After I called back the rep to tell them no thank you and don't call me again, she begin to tell me that, "this is why I needed to read it with you, so you don't make a bad decision that will hurt your credit and future" When i told her that she is mistaken and that a debt settlement is almost as bad as a "charge off" on my credit report she told I didn't know what I was talking about and that I didn't know how credit works. I hope that the BBB can do something about Overland Funding and the lies that they are spreading while insulting potential customers. These tactics are horrible and will actually work on people who are less informed and it disgusts me that this is allowed. read more