Is Nickel Advisors A Legitimate Company?

Nickel Advisors send out mailers and cold calls and target lower credit score consumers to lure them in. However they are said to switch consumers to higher cost loans so be wary.

Nickel Advisors are not accredited by the BBB (Better Business Bureau) and have been accused of profiting off taking advantage of those they send mailers to. The BBB in 2018 went to the holding company of Nickel Advisors MEC Distribution LLC’s offices and found their office was completely vacant and the mailing forward address was returning mail. The BBB asserted that MEC no longer have an office anywhere.

Is Pebblestone Financial legitimate?

Pebblestone Financial are not a lender be aware that they are a marketing company that send out mailers, they don’t have the most positive reviews from customers so be very careful. Their business model involves sending out mailers that say you’ve been approved for a loan and then they connect you with a lender and make money ‘selling’ your lead to them.

So they do not have your best interests at heart, and the loans they can offer come with a lot of hooks. Here’s just one of the negative review about Pebblestone:

“Pebblestone Financial is a RIP OFF COMPANY.  They will bait and switch you.  They LIE and CHEAT.  They will try to steal from potential customers. 

I received a fake check/letter from Pebblestone Financial.  It said I was “pre-approved” for a loan with an interest rate as low as 3.67%.  When I called they took my info and had another person call me back.  He said the loan was going to be “48 months of payments of $593 and 0% percent interest and that was it”.  That totals to a loan amount of $28,464.     He then asked if I wanted to proceed.  When I asked how they made any money, his tone changed dramatically.  I then asked him what the base loan amount was with no reply.  He then told me the “loan” conditions were: two payments of $995.00 as a retainer, 16% interest, $89.00 a month processing, $10.75 a month handling.    That’s $6778 for just the processing fees, not to mention the 16% interest.  That would make the loan interest 32% for just the processing fees.  ” Tom B.

We highly recommend working directly with lenders and not third parties that are paid to connect people with possibly predatory loans.

NFCC is a nonprofit organization that helps with debt and will help build you a free plan to drastically reduce your credit card debt. There are also a number of fintech companies like Tally that also help lower credit card debt and consolidate credit cards into a cheaper loan.

If you’re interested in finding legitimate debt consolidation companies we’ve created a list of debt consolidation firms, we always recommend working direct with a lender.

Is Lafayette Funding Legitimate?

Lafayette are also ran by the same company that runs Nickel. The BBB also found that the Lafayette is not licensed in North Dakota and advise severe caution when proceeding with them.

Is Hornet Partners Legitimate?

Hornet Partners are also run by Nickel. They have a bad reputation as they send our pre approved debt consolidation checks but aren’t a lender, they are a marketing service for debt consolidation companies. These pre approved mailers will typically include some information about you (name and address) and offer you a low interest rate debt consolidation. They typically advertise much lower rates than they can actually get you and you and aren’t required to act on your behalf to secure the cheapest or best loan.

Furthermore Hornet Partners are not BBB (Better Business Bureau) accredited either.

We recommend you check out the list of direct debt consolidation lenders to find legitimate lenders.

Who else is Nickel affiliated with?

  • Coral Funding
  • Neon Funding
  • Cobalt Advisors
  • Saxton Associates
  • Hornet Partners
  • Colony Associates
  • First State Associates
  • Polk Partners
  • Ladder Advisors
  • Corey Advisors
  • Pennon Partners
  • Jayhawk Advisors
  • Clay Advisors
  • Great Lake Associates
  • Pine Advisors
  • Alamo Associates
  • Punch Associates
  • White Mountain Partners
  • Steele Advisors
  • Grand Canyon Advisors
  • Glider Lending
  • Lucky Marketing
  • Golden State Partners
  • Pine Advisors
  • Derby Advisors
  • Graylock Advisors
  • Tuck Associates
  • Punch Associates
  • Keel Associates
  • Ballast Associates
  • Tweed Lending
  • Concourse Lending
  • Graphite Funding
  • August Funding
  • Broadstar Financial
  • Salvation Funding
  • Stallion Lending
  • Pebblestone Financial
  • Sussex Funding
  • Lafayette Funding
  • Guardian Angel Funding
  • Bridgeline Funding