At a Glance
Rating Breakdown
Performance Overview
Scores out of 5, based on our editorial analysis
About Square One Financial
Square One Financial is a small debt settlement company based in Denver, Colorado, founded in 2017. They specialize in smaller debt enrollments — typically $5,000 to $30,000 — that the larger settlement companies often deprioritize. The company has resolved approximately $40 million in consumer debt, which is a fraction of what companies like Freedom or National Debt Relief handle in a single quarter. The pitch is simple: lower fees and more personal attention in exchange for less creditor influence and a shorter institutional track record. Square One charges 15-20% of enrolled debt, which is below the 18-25% industry standard. For someone with $12,000 in credit card debt, that fee difference amounts to $360-$600 in savings. Whether those savings are offset by potentially higher settlement percentages (from less creditor pull) depends on the specific creditors involved. Square One operates in approximately 30 states and holds a BBB B+ rating. The small team (25-50 employees) means you actually get personal attention — your account manager probably handles 30-40 clients rather than 150+. But it also means less infrastructure, less technology, and less backup if your primary contact is unavailable.
Key Features
Low Fee Structure
15-20% of enrolled debt. On $15,000, that saves you $450-$750 compared to a company charging 22-25%. Real money when you are already stretched.
Small Debt Specialist
They take enrollments as low as $5,000 and give smaller accounts the same attention that bigger firms reserve for $50,000+ cases.
Personal Attention
With a team of 25-50, you are not getting lost in the shuffle. Your account manager knows your name, your debts, and your situation.
No Upfront Fees
Performance-based model. Zero charges until a settlement closes and you approve it.
Flexible Deposits
They work with deposits as low as $150/month for smaller enrollments.
How It Works
Free Evaluation
Talk with a debt specialist about your situation. They will be upfront about whether you are better off with them or a larger company.
Enrollment
Enroll your unsecured debts and set up a deposit schedule that actually fits your budget.
Escrow Building
Monthly deposits accumulate in a dedicated account while the team begins reaching out to creditors.
Negotiation
Settlements are negotiated one at a time. You approve everything before payment.
Completion
Once all debts are settled, you graduate. Typical timeline is 18-36 months for smaller enrollments.
What They Do
- Debt Settlement
- Debt Negotiation
- Creditor Communication
Debt Types They Take On
- Credit Cards
- Medical Bills
- Personal Loans
- Store Cards
- Collections
Fee & Cost Structure
Regulatory & Trust
Review Summary
Notable Case Studies
Two Credit Cards After Unexpected Move
Client had to relocate for a family emergency and put $9,500 in moving costs and deposits on 2 credit cards at 23% and 26% interest. New job in the new city paid $800/month less than the previous one. Minimum payments of $380 were unsustainable.
Medical Collection on a Tight Budget
Client had a single $6,200 medical collection account from an ER visit. Living paycheck to paycheck on $2,800/month with no room for the $250/month payment plan the hospital offered.
Pros & Cons
Pros
- Lower fees (15-20%) compared to industry average save real money on smaller debt enrollments
- Takes enrollments as low as $5,000 — fills a gap left by larger companies with $10,000+ minimums
- Very personal service from a small team — your account manager actually knows your case
- Low CFPB complaint volume (8 in 3 years) suggests few consumer protection issues
Cons
- Very small company ($40M total resolved) with limited creditor relationships and negotiating influence
- BBB B+ rating and no industry accreditations beyond BBB
- Available in only about 30 states
- Settlement percentages may run 5-10% higher than what larger, high-volume firms achieve
- Limited technology — no mobile app, basic online account access
- If your primary account manager is sick or on vacation, backup coverage may be thin
User Reviews (9)
small company big heart
My account manager Julie treated me like family. Called me by name, knew my accounts without looking them up, even called to check on me after a tough month. You do not get that at the big companies.
good for small amounts
I only had $7,000 in debt. Two other companies said that was too small to bother with. Square One took me on and settled both accounts in 12 months. Not everyone needs a six-figure debt program.
medical collection settled cheap
My $5k medical collection settled at 35%. Credit card was higher at 50% but the medical one made the whole program worth it. Small companies can still negotiate medical debt well.
saved money on fees
Quoted 17% versus 22% at the last company I called. On my $11k that saved me $550 in fees. Settlements were in the high 40s percentage wise. Nothing amazing but the fee savings made up for it.
got the job done
Got the job done.
negotiator was out for 2 weeks
My account manager went on vacation for 2 weeks and nobody was covering her accounts. A settlement offer came in that needed approval within 5 business days. I called three times and nobody could help because "she handles those accounts." Barely got it approved in time by escalating to a manager. Small companies have small teams and that is a real risk.
ok
It was ok.
settlements were on the high side
My 3 accounts settled at 48%, 51%, and 53%. Thats average to slightly above average. Lower fees helped offset it but I still wonder if a bigger company would have gotten better numbers. No way to know for sure.
NOT IN MY STATE
Wasted 30 minutes on the phone before they told me they do not operate in Connecticut. WHY is that not the FIRST question you ask??? Put it on your website. I am so tired of companies wasting my time.
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Important Debt Relief Disclaimers
- Debt settlement programs may negatively affect your credit score. When you enroll, you typically stop making payments to creditors, which results in late payments, collections, and potential charge-offs on your credit report.
- There is no guarantee that a debt settlement company can settle all of your debts or reduce them by a specific amount. Creditors are not required to negotiate or accept settlement offers.
- Debt settlement fees are typically 15%-25% of the enrolled debt amount. You should not pay fees before a debt has been successfully settled. The FTC prohibits debt settlement companies from charging upfront fees before settling at least one debt.
- Forgiven debt of $600 or more may be considered taxable income by the IRS. You may receive a Form 1099-C from creditors for canceled debt. Consult a tax professional about potential tax consequences.
- Creditors may continue collection efforts, including lawsuits, wage garnishment, and bank levies, while you are enrolled in a debt settlement program. A debt settlement company cannot guarantee protection from legal action.
- Alternatives to debt settlement include debt consolidation loans, credit counseling through nonprofit agencies, debt management plans, and bankruptcy. Consider all options and consult with a licensed financial advisor or attorney before enrolling in any debt relief program.
- Zogby does not provide debt relief services. We are an independent comparison service. We do not negotiate with creditors on your behalf or manage debt settlement accounts.
This page is informational, not financial or legal advice. Talk to a qualified professional before making any big money decisions.
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