First Option Recovery boasts a lot about the quality of their services and clearly it is not an average fund recovery service. They provide assistance in a lot of related segments such as the debt consolidation, debt management and debt settlement matters. Their platform looks professional and their pricing appears to be reasonable.
However, there are a lot of things about them that are concerning and scary as well. First of all, the user feedback about them is not great. The way they operate might sound good in theory, but as they provide no in-depth records of the investigations conducted by them, the credibility factor is not present.
According to the data on their website, many fake websites are plagiarising their content and misleading the consumers and looting them in the name of recovery services. Though their allegations are hard to verify, it is fair enough to give them the benefit of doubt in that aspect.
On the bright side, the content provided by them about common scams and well known fake platforms are extremely useful for the public. Their popularity speaks for itself. Now, the only question is to assess whether they are the one you need to be using? To know the answer to the very same question, continue reading.
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Background and Management Side
If you are looking for the personal details of the owners or the employees, then chances are you are going to be disappointed. Just like many recovery agencies, they do not share details about the people they work with or for. They could have featured the social media profiles to maintain a more transparent approach, but for some reason they have skipped it.
Moving on to the team members, this firm is said to have hired more than 120 attorneys that have expertise in almost all the types of online frauds. From trading scams, lottery frauds to phishing attempts, they deal with every variant of online hustles. On their homepage, they claim to have recovered 19 million dollars till date and are active in the sector for more than 1 decade.
Though their statements sound impressive, note that, according to the data from whois.com, their domain was registered in 2019. In other words, there seems to be some sort of misunderstanding and from the customer’s perspective, it is not a good sign. Moving on to their operational details, they are said to be serving 22 plus countries as of now and are planning to add more nations to the list soon.
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Compared to major competitors in the sector, their user base is narrow and time alone can show their true intentions. We are not criticising every one of their claims. Our main problem with their narratives is that most of the things they do or say is almost impossible to verify. Moreover, there is no user feedback data to support their theories.
Success rate is an important metric for every recovery agency. This platform boasts of 92% success rate and that number is amazing to say the least. Nonetheless, you need to understand that there isn’t anything put up by them to back up their claims. So, on what basis can we trust the figures? The missing pieces are way too many and it affects their reputation in a bad way.
What is First Option Recovery?
First Option Recovery is a recovery agency and a debt consultation service. They work in a lot of associated sectors and their motto is to put an end to the online frauds one by one. The best thing about them is the kind of elaborate content and coverage they provide about the latest trends on the internet.
There are dedicated sections on their platform about the most common types of scams and all the data are made available to the public for free. Unique thing about this platform is that they do not restrict themselves to only the recovery process, but also help people navigate the debt related issues. We are going to discuss more about all the services provided by them in great detail in the next paragraph.
For now, know that there are many things about them that are misleading and according to some customers, the quality of their service is borderline pathetic. Their claim to fame is a flimsy narrative and due to lack of transparency and evidence, we have to advise all of our audience to be extremely careful while dealing with them. After all, patience always pays in this sector, right?
First Option Recovery Services
First Option Recovery has a wide range of services to offer to the retail side. Their ideal target audience appears to be the average citizens and most of them apparently do not have enough knowledge to tackle the legal processes themselves.
Collection of evidence and presenting them in the correct manner are absolutely necessary in order to build a solid case. However, sometimes the merchants also dispute the claims and that is where the average user might not be fully able to handle all the intricacies involved. To know the areas this platform specialises in, check out the list below.
Fund Recovery – This form is the most basic one. If you are a victim of any kind of online related activity, then this is the one you need to choose while filling up the contact form on their website. The Internet is dominated by a lot of fancy hustles designed creatively as either shopping websites or trading and investment opportunities.
Nowadays, the clone websites and fake platforms have upped their game on a phenomenal scale and as a result, it is a no brainer if experienced people fall for them. Remember, these crooks are usually smart enough to fool the average users and to recover money from them, individuals have to act quickly or else they will be gone before justice is served.
There is a phenomenal amount of data regarding the common type of crimes committed over the internet. Go through them and you will understand the actuality of the scenario in a much better way.
Debt Management – Life as adults is super busy and it is easy to forget about making payments within the deadline. One might have different types of debt related bills, but the underlying creditor might be the same. Debt management allows people to avoid getting frequent calls from creditors while making the whole payment plan more simpler and easy to follow.
If an individual has multiple bills to clear from a single creditor, then it allows room for negotiation and in turn it leads to reduced interest rates. Lastly, note that debt management always results in increased credit score and we all know how important that number is for our future.
Debt Consolidation – Debt consolidation as the name suggests is the process that aims to help you clear your bills within the timeframe of 2 to 5 years. The goal here is to fully assess your financial situation and combine the debts together to create an easier monthly payment structure.
Note that this platform offers free consultation and if you are happy with the fees, then you can proceed with them and there are no apparent strings attached. Debt consolidation applies to the types of bills mentioned below.
- Credit card bills
- Store Cards
- Personal Loans
- Medical bills
- Collection Accounts
- Unsecured Loans
Debt Settlement – This is a big one and the explanation involved is a lot more complex than the rest of the options. Debt settlement is the process wherein the creditor gets paid less than the amount he or she was supposed to get. The idea is to ask the creditors for a break on the interest rate and if they do not agree, then plan for declaring bankruptcy.
Obviously, on the moral scale this approach is not a good fit for any of the parties, but it is a loophole present in the current system. Debt settlement companies cannot guarantee the end result beforehand because of the various variables involved.
However, note that even if the process works, it might have a serious effect on your credit score and one wrong move can put a nasty mark on your profile for a long period of time. Also, do not forget that in most cases this form of approach only applies to unsecured loans such as medical loans, collections accounts and personal debt.
This platform offers a decent support team and generally, it is easier to get in touch with them. Some users have criticised the staff for not responding to complaints very well and apparently, they are not reachable at certain times. Currently, as we do not have enough information to make a valid comment on the matter so we just have to wait for time to tell us the reality of the situation.
On the flip side, the number of contact details provided by them is a positive factor and it goes a long way when it comes to building their brand recognition.
- USA – 90 State St Office Tower Suite 700 Albany, NY, 12207
- United Kingdom – Vienna House Birmingham International Park, Solihull B37 7GN
- Georgia – Georgia, City Tbilisi, Samgori District, Rustavi Highway, N19, Building 3, Storage room, Floor 1
- Dubai – Business Center AL Shmookh Building, UAE Free Trade Zone UAE PO Box 7073
- Email – firstname.lastname@example.org
- Phone – 1-315-275-2894
First Option Recovery Testimonials
It is important to check out the user feedback of the recovery agency you want to indulge with. Comments made from the user base usually give you crystal clarity about the way the firm operates and deals with their customers. Note that many firms do manipulate the feedback to a certain extent, but thankfully most of them will be too obvious to spot.
First Option Recovery has got boatloads of comments on Trustpilot. However, over 38% of the users have rated it as bad which is a very serious concern. The general narrative is that they accept money from people and never deliver their end of the bargain. In other words, many users have complained that this firm does not provide any evidence to justify the charges.
Though the allegations against them are not completely verifiable yet, the numbers of hatred comments do have a point. At the end of the day, it may not be worth it to deal with an entity that is less than 3 years old with questionable agendas.
First Option Recovery is a relatively new recovery agency that still has a long way to go before they can be considered as reputable. Their platform is well designed and themed. However, their characteristics and transparency are way below par with the rest of the competition.
Moreover, their expertise with debt related issues is also questionable at this point. So, we suggest you look for more reputable alternatives and as a rule of thumb, never deal with any firm that has been around for less than a decade unless it is absolutely necessary.