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Debt is a common problem that many people face, and it can be overwhelming to deal with. Fortunately, there are companies like Accredited Debt Relief that can help individuals who are struggling with debt. Accredited Debt Relief is a company that specializes in debt settlement and has been in the industry for over a decade. In this article, we will review Accredited Debt Relief and discuss its services, advantages, and customer reviews.
Highlights
- You won’t be limited to one type of debt relief program
- The application process is seamless
- The overwhelmingly positive customer opinion
Trade-Offs
- Fees vary dramatically between partnering providers
- Some debt relief partner companies fail to deliver as promised
- You’re likely to receive many calls from other companies
Accredited Debt Relief Summary
- Accredited Debt Relief is a DBA of Beyond Finance, LLC.
- Accreditation: American Fair Credit Council, Better Business Bureau, International Association of Professional Debt Arbitrators, San Diego Regional Chamber of Commerce
- Consultation: Free online or phone consultation (toll-free number)
- Costs: 15% to 25% of total debt enrolled. Fees vary from partner to partner
- Customer Service: Email or phone
- Debts accepted: Secured and unsecured debt. A $10,000 minimum debt is considered.
- Free resources offered: None.
- Restrictions: Accredit Debt Relief operates in 32 states
- Service offered: Debt settlement through third-party negotiations, debt consolidation, debt management, and legal services.
- Trust ratings: BBB rating of A+ and 9.4 Trustpilot score
- Turnaround time: 24 to 60 months or more
What Is Accredited Debt Relief?
ADR is a debt settlement company that helps individuals and families struggling with unsecured debt such as credit card debt, personal loans, medical bills, and certain types of student loans. The company negotiates with creditors on behalf of their clients to settle their debts for less than the full amount owed.
The process typically involves clients making monthly deposits into a special account, which ADR then uses to negotiate with creditors. If an agreement is reached, the client’s debt is considered settled, and they pay Accredited Debt Relief a fee based on the amount of the original debt.
The company is accredited by the American Fair Credit Council (AFCC) and is a member of the International Association of Professional Debt Arbitrators (IAPDA). The company has been in business since 2010 and has helped thousands of clients become debt-free.
How Does Accredited Debt Relief Work?
It works by helping individuals and families who are struggling with unsecured debt to negotiate with their creditors in order to settle their debts for less than the full amount owed. Here is an overview of how the process works:
- Free Consultation: The first step in working is to schedule a free consultation with a debt specialist. During the consultation, the specialist will review the client’s financial situation and help them understand their options for becoming debt-free.
- Customized Debt Relief Plan: If the client decides to move forward, the company will create a customized debt relief plan based on their specific needs and financial situation. This plan will outline how much the client needs to deposit into a special account each month and how long the program is expected to last.
- Monthly Deposits: The client will make monthly deposits into the special account that they set up for them. These funds will be used to negotiate with the client’s creditors to settle their debts for less than the full amount owed.
- Negotiation with Creditors: It will negotiate with the client’s creditors on their behalf to try to settle their debts for less than the full amount owed. The goal is to get the creditor to accept a lump sum payment that is less than what the client owes.
- Debt Settlement: If a settlement agreement is reached with a creditor, the client will be notified, and they will have the option to accept or reject the offer. If the client accepts the offer, the creditor will consider the debt settled, and the client will make the agreed-upon payment to Accredited.
- Program Completion: Once all debts have been settled, the client’s account will be closed, and they will have completed the debt relief program.
It’s important to note that debt settlement is not the right choice for everyone. This company will help clients determine if this is the best option for their situation and will provide guidance and support throughout the process.
How Much Does It Cost To Use Accredited Debt Relief?
Accredited Debt Relief does not charge any upfront fees. Instead, the company charges a settlement fee based on the amount of the debt that is settled. The fee is typically between 18% and 25% of the enrolled debt at the time of settlement, rather than enrollment.
For example, if a client enrolls $10,000 in debt and it is able to settle the debt for $6,000, the settlement fee would be between $1,080 and $1,500 (assuming an 18%-25% fee range). This fee would be deducted from the client’s special account before the remaining settlement amount is paid to the creditor.
It’s important to note that the actual settlement fee charged by ADR will depend on various factors, including the amount of debt enrolled, the number of debts settled, and the length of the debt relief program. Clients are provided with a customized debt relief plan and a clear explanation of all fees and costs before they enroll in the program.
It’s also worth mentioning that while debt settlement can be an effective way to reduce debt, it can have a negative impact on a person’s credit score and may result in tax implications. It’s important for individuals to consider all of the pros and cons of debt settlement before deciding if it’s the right option for them.
What Could You Save With Accredited Debt Relief?
The amount that a person can save with Accredited Debt Relief will depend on their individual circumstances, including the amount of debt they have, the interest rates they are paying, and the terms of their loans or credit cards. However, in general, clients who use Accredited Debt Relief can expect to save money in the following ways:
- Reduced Principal Balance: ADR works to negotiate with creditors to settle debts for less than the full amount owed. This means that clients can expect to pay less than their original principal balance on their debts.
- Reduced Interest Rates: If a creditor agrees to settle a debt, they may also agree to reduce the interest rate or waive late fees and penalties. This can result in significant savings over time.
- One Monthly Payment: Instead of making multiple payments to different creditors each month, clients make one monthly payment to the ADR dedicated account until the negotiation is reached.
- Lower Total Debt: By negotiating with creditors to settle debts for less than the full amount owed, clients can significantly reduce their total amount of debt. This can help them become debt-free more quickly and with less overall cost.
It’s important to note that debt settlement is not the right choice for everyone, and clients should carefully consider their options before enrolling in a debt relief program. Accredited Debt Relief can help individuals understand their options and determine if debt settlement is the right choice for their situation.
How To Sign Up With Accredited Debt Relief
If you’re interested in signing up with Accredited Debt Relief, here are the steps to follow:
- Schedule a Free Consultation: The first step is to schedule a free consultation with a debt specialist. This can be done by calling ADR directly or by filling out a form on their website. During the consultation, the debt specialist will review your financial situation and help you understand your options for becoming debt-free.
- Create a Customized Debt Relief Plan: If you decide to move forward with Accredited Debt Relief, they will create a customized debt relief plan based on your specific needs and financial situation. This plan will outline how much you need to deposit into a special account each month and how long the program is expected to last.
- Make Monthly Deposits: You will make monthly deposits into the special account that Accredited Debt Relief sets up for you. These funds will be used to negotiate with your creditors to settle your debts for less than the full amount owed.
- Negotiate with Creditors: Accredited Debt Relief will negotiate with your creditors on your behalf to try to settle your debts for less than the full amount owed. The goal is to get the creditor to accept a lump sum payment that is less than what you owe.
- Accept Settlement Offers: If a settlement agreement is reached with a creditor, you will be notified, and you will have the option to accept or reject the offer. If you accept the offer, the creditor will consider the debt settled, and you will make the agreed-upon payment to Accredited Debt Relief.
- Program Completion: Once all debts have been settled, your account with Accredited Debt Relief will be closed, and you will have completed the debt relief program.
Signing up with Accredited Debt Relief is a straightforward process, and their debt specialists are available to help guide you through every step of the way.
What are the benefits of using Accredited Debt Relief?
There are several benefits to using Accredited Debt Relief to help with debt settlement:
- Reduced monthly payments: Accredited Debt Relief can negotiate with creditors to reduce your monthly payment amounts, which can help make your debts more manageable.
- Reduced interest rates: Accredited Debt Relief can also negotiate with creditors to reduce the interest rates on your debts, which can help you save money in the long run.
- Reduced overall debt amounts: Accredited Debt Relief can negotiate with creditors to reduce the overall amount of debt that you owe, which can help you become debt-free more quickly.
- Professional assistance: Accredited Debt Relief has experienced professionals who can guide you through the debt settlement process and provide you with personalized solutions based on your unique financial situation.
- Legal protection: Accredited Debt Relief can help protect you from creditor harassment and legal action by negotiating on your behalf and helping you stay compliant with debt settlement regulations.
- High success rate: Accredited Debt Relief has a high success rate in settling debt and has helped many individuals become debt-free.
- Reasonable fees: Accredited Debt Relief charges reasonable fees based on a percentage of the total debt that is settled, which means you only pay for the services that you need.
Is Accredited Debt Relief a reputable company?
Yes, Accredited Debt Relief is a reputable company that has been in the debt settlement industry for over a decade. It has a high success rate in settling debt and is accredited by the Better Business Bureau (BBB) with an A+ rating.
What do customers say about Accredited Debt Relief?
Customers have generally positive reviews about Accredited Debt Relief, citing the company’s professionalism, helpfulness, and ability to successfully settle their debts.
Here are some BBB Reviews:
Shawn B 02/20/2023
Riza E 02/16/2023
Al G 02/16/2023
How does Accredited Debt Relief compare to other debt settlement companies?
Accredited Debt Relief is one of the leading debt settlement companies in the industry, and there are several ways in which it compares favorably to other debt settlement companies:
- Accreditation and reputation: Accredited Debt Relief is accredited by the Better Business Bureau (BBB) with an A+ rating, which demonstrates its commitment to ethical business practices and customer satisfaction. It also has positive reviews from customers, indicating a high level of satisfaction with its services.
- Experience and expertise: Accredited Debt Relief has been in the debt settlement industry for over a decade and has a team of experienced professionals who are knowledgeable about the debt settlement process and can provide personalized solutions to clients.
- Success rate: Accredited Debt Relief has a high success rate in settling debt, which means that it has a proven track record of helping clients become debt-free.
- Range of services: Accredited Debt Relief can help with a variety of unsecured debts, including credit card debt, medical bills, personal loans, and certain types of student loans. This means that it can provide solutions for a wide range of financial situations.
- Reasonable fees: Accredited Debt Relief charges fees based on a percentage of the total debt that is settled, which is generally in line with industry standards. This means that clients only pay for the services that they need, and there are no upfront fees.
What types of debt can Accredited Debt Relief help with?
Accredited Debt Relief can help with a variety of unsecured debts, including credit card debt, medical bills, personal loans, and certain types of student loans.
How long does it take for Accredited Debt Relief to settle debt?
The amount of time it takes for Accredited Debt Relief to settle debt varies depending on the amount owed and the creditor. However, in general, it can take anywhere from 24 to 48 months.
Can Accredited Debt Relief help with all types of debt?
No, Accredited Debt Relief can only help with certain types of unsecured debts, including credit card debt, medical bills, personal loans, and certain types of student loans. They cannot help with secured debts like mortgages or car loans.
FAQs:
What is debt settlement?
Debt settlement is the process of negotiating with creditors to reduce the amount owed on a debt.
How does Accredited Debt Relief negotiate with creditors?
Accredited Debt Relief negotiates with creditors on behalf of its clients to reduce the amount owed.
Can Accredited Debt Relief guarantee that my debt will be settled?
Accredited Debt Relief cannot guarantee that your debt will be settled, but they have a high success rate.
Will using Accredited Debt Relief hurt my credit score?
Using Accredited Debt Relief may hurt your credit score, as missed payments may occur during the negotiation process.
Can I still use my credit cards while using Accredited Debt Relief?
It is not recommended to use credit cards while using Accredited Debt Relief, as it may hinder the debt settlement process.
Will I be able to settle all of my debt with Accredited Debt Relief?
Accredited Debt Relief may not be able to settle all of your debt, as some creditors may not be willing to negotiate.
Conclusion:
Accredited Debt Relief is a reputable and experienced debt settlement company that can help individuals struggling with debt. While using Accredited Debt Relief may hurt your credit score, it may be a worthwhile option for those who are unable to manage their debt on their own. With its high success rate and reasonable fees, Accredited Debt Relief is a top choice for those seeking debt relief. If you are struggling with debt, consider reaching out to Accredited Debt Relief for help.
Verdict
If you’re in extreme financial hardship and don’t know what to do next, a company like ADR can benefit you with a broad spread of workable options short of bankruptcy.
Whether you want debt settlement, debt management, or debt consolidation services, this powerful company can do the job.
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