Debt Relief / Company / Try Pennie

Try Pennie: 3 Things to Know

Written by Ascend Team
Updated Dec 27th, 2023
This article is for informational purposes only and should not be construed as legal or financial advice.

Have you been on the search for a reliable debt relief company? In your search, did you find Try Pennie? If so, you may be wondering who they are or how their fees compare to other debt relief companies.

Who is Try Pennie? Should you work with them? How do their rates compare to other companies? What do reviews online say about them? We will cover all of that and more in this article. 

TryPennie Reviews

The only thing I could find interesting on its website is that it appears that there may be a typo in their advertising disclosure linking them to the another website called flexlendingclub.com.
Try Pennie Advertising disclosure links to FlexLendingClub

Source: trypennie.com

It is unclear to me if Try Pennie advertises for debt consolidation loans or if they just advertise for debt consolidation programs. Please note that another name for a debt consolidation program is called debt relief. 

There is a huge difference between debt consolidation programs and debt consolidation loans. Both can be awesome options depending on your situation. It is important to be able to sort through your specific goals and have questions ready when speaking with any company. If it feels sketchy or too good to be true, it probably is! 

The biggest difference between loans and programs are that with debt consolidation loans, you get money in your bank accounts that you use to pay off debt. With debt consolidation programs, you end up letting your accounts go behind and then settling those accounts. 

BBB

Unfortunately, I was unable to find TryPennie on BBB. I found Pennie on BBB, but I was not 100% sure if they were the same company because it said state government. Either way, Pennie had 0 reviews. 
Pennie on BBB, with 0 reviews

Other Reviews

Unfortunately, I was unable to find TryPennie on any other review websites. It makes me wonder if TryPennie is a newer company and if people haven't had the chance to experience how they operate yet. 

TryPennie not popping up on any other review websites

How Much Does TryPennie Cost In Fees?

It has been difficult to find a ton of information on TryPennie, however I did notice at the bottom of their website, in fine print, they had this disclaimer:



One part of it that stood out to me, was “Clients who are able to stay with the program and get all their debt settled realize approximate savings of 46% before fees, or 25% including our fees, over 24 to 48 months.” To me, this means they will negotiate with your creditors to get your debt amount down to about 46%, which is around the average for a debt settlement company. But then, they mention that after fees, you will be saving only about 25% which is vastly different. 

What are Alternatives to TryPennie?

An alternative to TryPennie would be options such as debt management, debt payoff planning, a debt consolidation loan, debt settlement or bankruptcy

Conclusion 

From my research, I realize I am not sure how Try Pennie operates. 


One question I have is whether Try Pennie actually ever negotiates with creditors and why they charge a lot for their services. I am still unsure if they are a legitimate company, and find it interesting that they have zero reviews at this time. 

It is important to do all of your research before working with a company. Reading others reviews and learning from their experiences is a great way to see if a company would be a good fit for you. Because they currently have no reviews, I am unsure if they are legitimate.