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Lender
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Trim

Finanso.Multilogin™

About lender

Trim is a California-based bill negotiator company that helps its clients eliminate extra spending by analyzing the bills, subscriptions, and options to reduce service costs. Trim experts check customers' invoices, find outdated subscriptions and negotiate overcharged bills. Established by Ask Benjamin, Trim, LLC has improved US citizens' financial health since 2015. The company offers the following options to help you save your money and cut your expenses:

  • Bank negotiation - interest rates and credit card APRs reduction

  • Bill negotiation - Telecom, TV, Internet bills price reduction

  • Medical bill negotiation - discounts, payment plans, settlement offers negotiation

  • Simple savings - an automated FDIC-insured savings account stored at Evolve Bank

  • Subscriptions cancellation - detecting and shutting down subscription payments no longer needed

  • Car insurance comparison - help in search of the best car insurance

  • Monitor daily transactions - tracking recurring payments to find suspicious and unwanted transactions

  • Liabilities calculator - a tool to total your liabilities and create an individual finance plan

Pros and cons

To understand if the service is suitable for you or not, it is essential to know its benefits and disadvantages first. Here are gathered the most important of them:

Pros

  • Free sign up

  • Easy to use

  • Opportunity to lower medical, Internet, telecom, and TV bills and reduce banking fees

  • Service fees only in case of a successful money-saving operation

  • Affordable prices for subscriptions.

Cons

  • No mobile app is available

  • Trim requires you to share your banking credentials for a range of operations and services.

Terms and conditions

Trim is free to sign up for and keeps most of its options free. The paid options include success fees that depend on the total amount of money saved. Besides, Trim has special subscription plans that allow its clients to save more money at set prices. According to customer reviews, the annual and monthly savings might far exceed the subscription fee.

You can choose one of the following options depending on your particular needs and financial situation:

No subscription

The only payment is a 15% fee of your annual savings with bill negotiation. It's currently the most popular Trim plan. Here is how it works:

For example, Trim helps you to save $10 monthly, and your annual savings are $120. With a 15% success fee, your Trim payment is $18, and your benefit is $102. If Trim cannot help you with your case, you do not pay anything. You can afford all the following features with no subscription:

  • Bill Negotiation – 15% success fee

  • Medical Bills negotiation – free

  • Bank Negotiation – free

  • Car Insurance Comparison - free

  • Subscription Cancellation – free

  • Liabilities Calculator - free

  • Monitor daily transactions - free

  • Simple Savings – free.

Monthly subscription

The monthly savings subscription program provides users with unlimited bill and bank negotiations with no 15% success fee. The subscription fee is $10.00 monthly.

Annual subscription

The annual savings subscription program provides users with unlimited bill and bank negotiations with no 15% success fee. The subscription fee is $99.00 monthly.

Funding

Trim does not return money from already completed overpriced transactions. It monitors current transactions instead and prevents you from extra spending in the future. Trim assistants negotiate your bills by getting in contact with your service providers and finding the optimal solution for you at the lowest price. When negotiation is successful, you pay the 15% fee with your bill negotiation payment card linked to your account.

FAQ

What is Trim?

Trim is a personal bill negotiator service that monitors your overpriced bills and outdated subscriptions and detects unwanted transactions on your banking account.

How does Trim work?

Trim service lowers the cost of bank APRs, medical bills, or Internet/Telecom bills. It also provides other money-saving features connected to your account. Trim experts study your bill and contact your service provider company. It can be a bank, clinic, TV, Internet provider, and others. Then Trim finds out your provider terms and conditions and looks for options to reduce your spending in the future. In case of successful cost reduction, Trim sends you a message with details, calculates the total expected money saved, and bills you for a 15% success fee for the operation.

Is Trim legitimate?

Trim is a fully legit finance service. However, they are not registered lawyers, investment, or financial advisors, so Trim can not litigate your bills in court or provide you with legal advice.

Does Trim issue a charge fee?

Trim has a 15% service fee for any successful bill negotiation. Subscription programs include this fee already. The only subscription payment is the monthly or yearly round charge.

Company documents

Terms of service
Privacy Policy

Our mission is to solve your financial problems so that you can live the life you want.

© Ask Benjamin LLC

What to focus on before applying for a loan with Trim

To ensure the lender is legitimate, check if it meets the following criteria:

How do you know if a loan company is registered?

The lending company is registered with the US Securities and Exchange Commission (SEC) and has a tax identification number (EIN). Note that tribal lending companies operate under the jurisdiction of tribal laws, and they don't have to register with the SEC. But still, tribes must act under federal consumer protection laws enforced by the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC).

According to the FTC requirement, the lending company is registered in your state, excluding tribal lenders abiding by tribal and federal laws only. That is why tribal lending companies can charge interest rates exceeding your state's maximum.

Finally, the State Attorney General can verify the registration of the lending company if you need additional proof of whether it is legitimate.

If a US lending company scams you, please report to local law enforcement, your state attorney general, CFPB, or FTC.

Finanso® also recommends

Learn the total cost of a loan, including:

It will be best to read a loan agreement carefully before signing it. If any part of the agreement seems incomprehensible, do not hesitate to ask the lender about particulars.

Remember that you don’t have to make an immediate decision when considering getting a loan. However, you must be sure that you are ready to repay following your loan documents. If the lender’s terms and conditions are uncomfortable for you, you are free to search for another proposal, as there are about 780 lending companies in the US.

What’s the difference between Trim and a bank?

  1. You need to have a good credit history to qualify for a credit card with a bank. In contrast, even bad credit history debtors can borrow money from US lenders with personal or payday loans. 
  2. Interest rates and annual percentage rate for a loan with an online lending company are significantly higher than with a credit card released by a bank.
  3. Applying for an online loan with a lending company doesn’t require paperwork or even visiting their office. Instead, a borrower can apply entirely online and receive money via direct deposit on the next business day.
  4. The online lending business is high-risk for investors, and their capital is not protected from unfair borrowers.
  5. A loan with legitimate loan companies for bad credit is a simple but expensive form of borrowing to resolve financial hardship.
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