Point Break Financial Review [2024]

Point Break Financial claims to be a debt consolidation company that offers loans of up to $50,000. If you’re struggling with high-interest debt, replacing it with a single low-interest loan may help you simplify repayment and save money in the process.

While debt consolidation is a viable debt relief option, not all companies are the same. In this Point Break Financial review, we’ll explore how the company works, how much it charges, and whether it’s worth working with this company.

How does Point Break Financial work?

There’s not much information on the company’s website. However, they’re known to send out mailers to prospective customers that mention that they’re pre-approved for a debt consolidation loan. Those who receive a letter can enter the code on the company’s website to receive more information about the offer.

On taking a closer look, Point Break Financial is not an actual lender but a lending agency. This means that they can connect you to a lender that offers loans for a fee. The lender you’re connected with can give you more information about the actual loan amounts and rates you qualify for.

Pros and Cons of Point Break Financial

When you’re already stressed due to debt, it's even more important to work with a reliable debt relief company. Consider these pros and cons before you decide to work with Point Break Financial.

Pros of Point Break Financial

• May be able to connect you with a lender that offers debt consolidation loans
• Advertises larger loan amounts of up to $50,000
• Advertises competitive APRs starting from 5.99%

Cons of Point Break Financial

• Not BBB accredited
• No reviews on BBB, Google, or Trustpilot
• No information is available about how much it charges
• Not a direct lender

Services Offered by Point Break Financial 

Point Break Financial is a lending agency that can connect you with direct lenders that offer debt consolidation loans. The company does not offer or broker loans. When you fill out a form on the company’s website, they’ll simply use that information to put you in touch with a lender that offers these loans.  

Costs and Fees

There is no information about what Point Break Financial charges to put you in touch with debt consolidation lenders. While it does mention that the annual percentage rates of these loans are as low as 5.99%, keep in mind that the advertised rate may not be the actual rate you qualify for.

The interest rate for your loan will depend on a number of factors, such as the lender, loan amount, credit score, and income.

Time To Complete the Debt Consolidation Program

When you borrow a debt consolidation loan, the time it takes for you to pay it off depends on repayment terms, loan amounts, and other factors. Typically, repayment terms range from one to seven years.

A longer repayment term can keep your monthly payments affordable, but you’ll pay more in interest over the life of the loan. With a shorter term, your monthly payments will be higher, but you’ll pay less in interest.   

Expected Relief Amount

Debt consolidation is only helpful if you qualify for an interest rate that’s lower than what you’re paying on your current debts. For example, if you have credit card debt with an interest rate of 24.50% and you qualify for a debt consolidation loan with an APR of 12%, you may be able to save a considerable amount of money.

The amount of money you can save will depend entirely on the APR you qualify for. Point Break Financial advertises APRs as low as 5.99%. The current average interest rate for personal loans is 12.36%, so it’s best to compare any loan offers you receive against what other lenders are offering.

Customer Service Options

Point Break Financial doesn’t offer an email to get in touch with them. However, we were able to find the company’s address and phone number.

Point Break Holdings LLC.

1968 S Coast Highway

#1028 Laguna Beach, CA 92651

Phone: 855-202-9500

Point Break Financial Reviews and Feedback

Most reputable debt relief companies have reviews on platforms like Trustpilot and Google. Point Break Financial has no such reviews even though it has been in business for three years. The company is not BBB accredited, and while it does have a page on BBB, it has no reviews as of August 2024.

While this doesn’t automatically signal a scam or that the company isn’t legitimate, we recommend being cautious and verifying the company’s details thoroughly before you sign up for their product offerings.

How Point Break Financial Compare To Other Debt Consolidation Companies

The right debt consolidation program can make it easier to pay off debt and benefit from a lower interest rate. Here’s how Point Break Financial compares to other companies that offer debt consolidation.

Is Point Break Financial Worth It?

Point Break Financial has no online reviews and has scant information on its website about its financial services, debt resolution program, or the fees it charges for its services. It isn’t BBB-accredited, and finding any helpful information about the company is challenging.

There are many other consolidation and debt settlement companies in the country that have an established presence, great customer reviews, and transparent terms. We recommend being cautious and doing your due diligence before you work with Point Break Financial.

It's always a good idea to check out reviews for debt consolidation services from companies like Wells Fargo, United Club Lending, and Clay Advisors before making a final choice. These insights can help you choose the best option to manage your debt effectively.