Consumer complaint received 2026-02-20 00:00:00
Product: Debt or credit management — Debt settlement
Issue: Confusing or misleading advertising or marketing — 
Company: Reach Financial LLC
State: NY

Complaint narrative:
I started with XXXX XXXX XXXX XX/XX/XXXX. I spent roughly a year making payments since I was working to pay off and settle 4 credit card accounts, XXXX, XXXX, and XXXX XXXX XXXX XXXXMy total original debt was roughly {$10000.00}. I kept making payments to national debt relief. They helped me lower balances of all cards. Synchrony bank at the time I owed was {$1900.00}. XXXX XXXX XXXX helped negotiate and the amount was decreased to {$690.00} from the creditor and it was approved by XXXX. The XXXX account amount I owed at the time was {$2000.00}. XXXX XXXX XXXX helped negotiate and it was then decreased by the creditor to {$1400.00}. The first XXXX XXXX card was a total of {$2300.00} at the time. XXXX XXXX XXXX helped negotiate and the amount was then decreased to {$1200.00}. Lastly, my last account which is another XXXX XXXX card, was a total of {$6500.00} and the company did a great job with negotiating with the creditor and it was then decreased to {$3400.00}. My total debt starting the program after calculation is actually {$12000.00} yet my XXXX XXXX XXXX portal states I had a debt of {$10000.00} starting the program. Around the year of XXXX ( around XXXX XXXX ), I was told by National Debt Relief that I am eligible for a loan from Reach Financial , a private loan agency. I was told by a representative they are a trusted and partnered program with them. They told me at the time that this was a great opportunity which can clear my debt faster. Representatives told me it was very simple and to apply for the loan and I can start life with no credit card debt with paying less than XXXX  monthly. I was very excited and it is less than XXXX monthly. However, XX/XX/XXXX once I was fully into the program. I realized that I am stuck in a loan that is primarily in interest. I was shocked since my debt was negotiated with XXXX XXXX XXXX, it went from {$12000.00} to {$6800.00}. However, while looking at my Reach Financial Loan, I am seeing that I am being charged a fixed 22 % interest rate and they used my poor credit to their advantage despite of me working with XXXX XXXX XXXX. I was also making cash direct payments to XXXX XXXX to prove creditors at the moment I was working with the agency ; this is how my debt was able to be negotiated down and cut in half. I am making a total of {$220.00} payments to Reach Financial after a year of being in the loan, I somehow still owe {$70000.00} and I only paid 11.63 %?? I feel manipulated and used due to not knowing at the time and I would have never signed up for the loan if I knew all of my payments would be going to interest instead. I noticed my statements and I am paying the {$220.00}, my principal is usually less than {$100.00} yet my interest is always over {$130.00} or even over {$200.00}! I called XX/XX/XXXX, XXXX at Reach Financial at XXXX. I spoke to two representatives. One agent I do not know their name but he was able to transfer me to XXXX XXXX in Customer Service. I asked for information to understand more about the interest rate and if any revision of the loan or help for repayment can be offered. She reported nothing can be offered ; only a temporary hardship opportunity if there is an urgent high bill to be paid like a medical bill. Both representatives stated that the rate is 22 % and is fixed due to the credit score I provided at the moment. I found this unfair since I was with XXXX XXXX XXXX, they told me to stop using my accounts to successfully finish the program. The representative before XXXX also mentioned I should finish paying off their loan XX/XX/XXXX! All of this over a starting balance of {$6800.00}. I want to fully pay my debt but not in this way. I tried reaching Reach Financial and they state there is nothing else they can do to help me. I am expected to pay that amount, XXXX XXXX monthly until XX/XX/XXXX or pay my full loan balance which is {$70000.00}.

Company response to consumer: Closed with explanation