Marcus Marion, CMA™ With numerous online scams pretending to help people in 2023, it isn’t easy to trust any company’s good intentions. Thus, in our review of Accredited Debt Relief, we’ll discuss whether the company is legit or a scam. First, we’ll introduce the company and show you how it operates.
Then, we’ll cover whether it has any requirements for clients to enroll in its programs and how much it charges. Moreover, you’ll learn about the company’s pros and cons, which will help you decide if you want to trust it to help with your accumulated debt.
Furthermore, you’ll find out which programs it offers and decide if there is something that will work for your specific situation. Additionally, our detailed review will help you contact the company and sign up for an Accredited Debt Relief program.
What is Accredited Debt Relief?
Accredited Debt Relief is a US company that helps clients get out of debt. According to its website, it has helped more than 300,000 clients since 2011 and resolved more than $2 billion in debt.
Moreover, Better Business Bureau (BBB) has rated it A+, while Trustpilot has given it a 4.9-star rating.
So, is Accredited Debt Relief legit? With the high rating and numerous positive testimonials from previous clients, we think it’s safe to say that Accredited Debt Relief is your way to go when getting out of debt.
How Accredited Debt Relief Works?
Accredited Debt relief works by negotiating with your creditors to reduce your debt as much as possible. Usually, the process lasts from 12 to 48 months, depending on the chosen program and the amount of debt.
Once you sign up for its services, you get a consultation where you’ll discuss your financial situation and how much you owe. These consultations are free of charge. Then, a team of debt specialists reviews your debt and monthly budget and develops a personalized strategy to get you out of debt.
After establishing the strategy, you’ll need to open an FDIC-insured savings account to make monthly deposits according to the previously set plan. At this point, your debt relief specialist will negotiate with your creditors to reduce and settle your debt.
Once they reach the final agreement with the creditors, you’ll need to approve the deal. Then, they’ll pay the newly-established amounts monthly with the funds from your savings account with your approval. The process will continue until debt resolution. Therefore, it’s safe to say that Accredited Debt Relief offers the best way to consolidate debt without hurting credit.
Accredited Debt Relief Requirements
If you’re unsure whether you’re fit to become their client, check Accredited Debt Relief’s requirements. Fortunately, they’re reasonable for many people in debt.
Minimum Debt
Accredited Debt Relief has a minimum debt requirement for enrollment in its program and benefiting from its services. This minimum amount is $10,000 in debt.
This minimum amount requirement prevents people with debt lower than $10,000 from enrolling in the program. The company won’t take you as a client if your debt is lower than the specified amount.
Type of Debt
Accredited Debt Relief will help clients who have eligible unsecured debt. That means your debt must be long-term and not asset-backed. In other words, your debt must not have promised collateral to the creditor. Otherwise, Accredited Debt Relief won’t be able to help you.
Credit Score
Another frequently asked question regarding meeting the company’s requirements for taking you as a client involves credit score. Fortunately, Accredited Debt Relief has no minimum or maximum credit score requirements. That means that whatever credit score you have, the company will take you as a client if you have the minimum eligible unsecured debt.
Accredited Debt Relief Fees
An excellent side of Accredited Debt Relief is that it doesn’t require any upfront fees, meaning you pay for its services after it helps settle your debt. This policy is a fantastic way to show compassion and understanding toward its clients’ financial situations and hardships.
Therefore, once the company helps you get out of debt, you’ll pay the settlement fee for its services. It ranges from 15% to 25% of the enrolled debt. That can be substantial depending on the debt you started with when you enrolled in the program. The fee is success-based, meaning you only pay it if the company successfully reduces your debt.
Pros of Accredited Debt Relief
Accredited Debt Relief offers numerous benefits to its clients. Our general opinion is that the given pros outweigh the cons. However, it’s entirely up to you to decide whether Accredited Debt Relief would be helpful in your case.
1. Free Consultations
Accredited Debt Relief offers a free consultation to potential clients. These financial consultations can help determine your debt amount, budget, and financial goals.
Fortunately, these consultations are non-binding, meaning you have no obligation to hire the company. Thus, you can request a free consultation to see if its services suit you.
2. Performance-based Fee
Another already-mentioned benefit of Accredited Debt Relief is that there aren’t any upfront fees. You only pay the settlement fee once you get out of debt since it’s performance-based.
By offering a performance-based fee, the company shows compassion toward its clients in a challenging financial situation at the beginning of the debt relief process.
3. Collaborations with Major Creditors
Since Accredited Debt Relief works with many creditors, it’ll most likely be able to help you reduce your debt. Moreover, with 12 years of experience in the field, its experts have sufficient knowledge on negotiating with different creditors and can help you the best they can.
4. Educational Website
Another significant benefit of Accredited Debt Relief is its educational website. The company displays information on debt settlement and other educational resources for clients to read and inform themselves.
The educational content is available under the Knowledge Hub section. Thus, clients can educate themselves on various topics regarding debt settlement and finances all in one place.
Cons of Accredited Debt Relief
Despite the numerous advantages of Accredited Debt Relief, some drawbacks might deter you from hiring its services.
1. High Settlement Fee
Even though the settlement fee is success-based, and you won’t have to pay it if the company doesn’t help you reduce your debt, it’s still high.
The fee ranges from 15% to 25%, which means it can reach a quarter of your enrolled debt. For example, if your debt is $20,000, and the company charges you 25%, you’ll have to pay $5,000.
2. Minimum Debt Amount
Another drawback of Accredited Debt Relief is that it requires a minimum debt amount. Thus, if your debt is lower than $10,000, you won’t be eligible to become its client. That blocks clients with lower debt from using the company’s services.
3. No Secured Debt Support
Since the company works with eligible unsecured debt, it won’t be able to help you with your secured debt. Secured debt includes mortgages, car loans, pawn shop loans, secured credit cards, etc. Again, that limits people with secured debt and prevents them from applying for the company’s services.
Services Accredited Debt Relief Offers
Since we’ve covered what Accredited Debt Relief does and its requirements, let’s see what services it offers. The company helps reduce unsecured credit card debt, personal loan debt, department store credit debt, medical debt, etc.
Thus, Accredited Debt Relief can help clients with debt relief by negotiating with their creditors to reduce the debt amount. Moreover, the company can help you with debt consolidation. That entails combining all the client’s debts into one payment and lowering monthly payments accordingly.
Furthermore, a credit card consolidation service helps consolidate debts into one payment with a competitive interest rate. Accredited Debt Relief also offers bankruptcy alternatives such as debt consolidation, debt settlement, or credit counseling — ideal if you’re considering bankruptcy.
Sign up for Accredited Debt Relief
If you meet the company’s requirements and need its services to get out of debt, you can sign up on the company website by clicking the “Get Started” button. Then, provide your debt amount, name, and contact information. A specialized expert will contact you as soon as possible.
Moreover, you can find the company’s contact number and reach out by phone instead of through the website. After finishing the call, you can decide whether to proceed with the cooperation or not.
The customer service team is available from 8 AM to 11 PM EST Monday through Friday and from 8 AM to 10 PM EST on Saturday and Sunday.
Summary
Accredited Debt Relief is a debt relief company that can help you get out of debt. It works by negotiating with your creditors and reducing the amount of unsecured debt. Its free consultation, success-based fee, cooperation with major creditors, and educational website make it an excellent choice.
However, its high settlement fee, minimum debt requirement, and no support for secured debt may suit only some people. Still, all the benefits above and having more than 300,000 clients show that Accredited Debt Relief is a legit company you can trust. Contact an experienced professional and resolve your debt issues as painlessly as possible.
