I recently came across an interesting Social media ad with a gentleman pitching a product that helped him get out of debt. He claims he went inside Wells Fargo to confirm with a representative that it was real, and they said it was. He claims he received $18,700 that he doesn’t have to pay back as long as he uses it to pay down his debt. It reminded me of a recent article I wrote about First Advantage Debt Relief, where they also claimed they didn’t have to pay back the money they received to pay off their debt.
What's interesting is that the ad almost makes it seem as though this “loan” or “free money” is through the Wells Fargo app, potentially making it seem more credible.
In addition, when you press “learn more,” it takes you to Financial Future’s home page to get started. It shows how the program works, which is quite different from what was advertised.
It is quite interesting, the wording on the website, stating “Americans who have maxed out their credit cards or are stuck in a vicious cycle making minimum payments will be able to request a once in a lifetime relief option provided from the banks this week.” To me, it sounds almost as though they want you to believe it is coming from your bank (similar to the ad connecting it to Wells Fargo).
Unfortunately, I couldn’t find any social media platforms or pages for Financial Future. It is also interesting that the URL to their website begins with healthplanconnectivity.
Let's briefly talk about personal loans.
If you are struggling with debt and don’t know your options, please consider taking this free personal loan and alternatives options calculator to estimate loan qualification and learn about alternatives. No personal information is required unless you want to provide it.
When I probed further, I found it quite interesting: they had a countdown on the bottom of the page, instilling some fear that potentially this approval would potentially expire within 2 minutes.
It is also very interesting that the Instagram ad acted as though the money given to you to pay off the debt was something you did not have to pay back. But as you go on their website, they mention debt settlement, which is quite different.
Please consider watching my video covering how debt consolidation / debt relief works.
Let's look at the Financial Future reviews I searched.
Unfortunately, I could not find any relevant results for Financial Future reviews. Every review page was associated with another company.
If you are in a situation where you need a better way to get rid of your debt, you may consider two options:
2. Non-Profit Credit Counseling
Many people I speak with do NOT qualify for debt consolidation loans, so nonprofit credit counseling is a debt consolidation option that I have loved recently. In non-profit credit counseling, an agency negotiates your interest rates down and gets you on a fixed monthly payment. You also consolidate all your high-interest credit cards, often into a lower monthly payment.
You may have to qualify, but I created this free calculator to compare credit counseling and debt consolidation and estimate if you are eligible.
Here's a video I created recently covering credit counseling. Remember, you have other options, but these ads on your feed are not the only route you have.
