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When you are struggling with debt, it can feel like there is no way out. You may be tempted to try Citizens Debt Relief, a company that promises to help you get out of debt quickly and easily. But is Citizens debt Relief legit? In this Citizens Debt Relief review, we will look at the company and see what it offers consumers. We will also determine whether or not Citizens Debt Relief is a good company. Keep reading to find out more!
Citizens Debt Relief is a company that offers debt resolution services. The company started on 2017, and its a debt relief company based in New York, NY.
We did some digging to see if this company lives up to its promise of helping people get out of debt fast. Here’s what we found.
- As a debt relief company, they cannot guarantee how much your debts will be lowered or that you will be debt-free within a specific timeframe.
- They do not assume your consumer debt, provide loans to pay any debt, make monthly payments to your creditors, or provide tax, bankruptcy, credit repair services, accounting, or legal advice.
- Debt resolution services may negatively impact your creditworthiness, leading to collection efforts, lawsuits from creditors, and increased debt due to late fees and accrued interest.
- It is not available in all states.
- Not all debts are eligible for enrollment.
Based on the information we found, it seems that Citizens is a legit company. However, there are some complaints about the company’s services, but this is fairly typical in any financial services business. You can’t please everybody all the time. We recommend you speak with a certified financial counselor to get expert advice before making any decisions.
What is Citizens Debt Relief?
At Citizens Debt Relief, they work with your creditors to settle your debts for less than what is owed. They are located at 697 3rd Ave Ste 105, New York, NY 10017-4003, and you can reach them at 1 800 560 3956.
Citizens Debt Relief has been in business for over four years. They have an A+ rating on the Better Business Bureau (BBB) website, but the BBB does not accredit them. The company has an average of 14 customer reviews, and 13 complaints closed in the last 12 months.
Their program is not available in every state, and not every debt is eligible for enrollment. Various factors, including saving enough money, can prevent clients from completing their program.
It is crucial to conduct thorough research before opting to pay off your debts. While debt relief can aid in managing your debts, it may not be a viable option for all individuals.
How does Citizens Debt Relief work?
Considering Citizens Debt Relief, you’re probably wondering how it works. Here’s a quick overview:
Citizens Debt Relief is a company that settles your debt. It works by making monthly deposits into a savings account that the company sets up for you. Then, their debt negotiators work on your behalf to get your unsecured debt balance down to a fraction of what you owe. Once that amount is reached, the funds in your savings account are used to pay off your creditors, and the debt is resolved.
Remember that as a debt resolution company, they cannot guarantee that a specific amount or percentage will lower your debts or that you will be debt-free within a particular time. They can work with you to develop a plan that suits your individual needs and budget.
How to qualify for Citizens Debt Relief?
If you’re struggling to make ends meet and are up to your eyeballs in debt, you may wonder how to qualify for Citizens Debt Relief. The ideal candidate for debt resolution is someone who finds themselves in hard financial times, making it difficult to pay their credit card company a lump sum. They could be making low or minimum payments on their credit cards, facing high-interest rates, maxing out their cards, and barely reducing the total amount owed.
You’ll need a few things to qualify for Citizens Debt Relief.
- First, you’ll need at least $10,000 in unsecured debt. It can include credit card debt, medical bills, student loans, and more.
- You’ll also need to have a steady income.
- Finally, you must be a US citizen or legal resident alien with a Social Security Number.
If you meet these requirements, you may be eligible for Citizens Debt Relief’s debt reduction program.
How long would it take for your debts to be resolved?
The time it will take to finish their debt resolution program depends on how much you owe on your credit cards and how much you can pay towards the program each month. Most of their clients can complete the program within 2 to 4 years.
Most clients see their first settlement between the 3rd and 7th month. It is just an estimate, though, as each case is unique, and the timeline can vary depending on individual circumstances.
How do you pay back Citizens Debt Relief?
As their client, you are automatically set up with your own FDIC-insured savings account. This account is used to pay creditors you have enrolled in the program and is overseen by a third-party processor. You can view your account balances, statements, and other information online 24/7. This account is maintained in your name and can only be accessed with your authorization.
What happens if you don’t pay Citizens Debt Relief?
If you cannot make a payment for one month, please get in touch with Citizens Debt Relief at least five business days in advance. They will work with you to try and accommodate your situation. However, you must make your scheduled payments on time. Falling behind on payments can have serious consequences for your credit health. Your creditors can also sue you if you fail to pay the collection agency or if they do not agree to the terms of the settlement offer.
Will you be able to use your Credit Cards?
If you’re planning on using your credit cards, you might want to think again. Your enrolled credit cards will be inactive, leaving you without any means of payment. However, it’s still a good idea to set aside one credit card in case of emergencies. It is especially important if you don’t have an emergency fund available.
How does Citizens Debt Relief affect your credit?
If you’re considering using Citizens Debt Relief to reduce your debt, you may wonder how it will affect your credit. Using their services may adversely affect your creditworthiness and result in collection efforts or even a lawsuit from creditors. The amount you owe may also increase due to late fees and accrued interest.
If you settle, your account will not be removed from your credit report immediately. Depending on whether you have any late payments, the account can remain on your credit report for up to seven years. If you don’t have any late payments, the account will only stay on your report for seven years from the date it was settled.
How to cancel Citizens Debt Relief?
Getting out of a debt settlement contract is easy if you have not made any payments yet. However, if you have already made payments, the chances are that you will not be able to get your money back. If you have given the debt settlement company permission to draft fees directly from your account, you should contact your bank and inform them that you are terminating such an agreement.
Step 1: Notify your Creditor and Debt Settlement Company of your Intent to Cancel
Unless your debt settlement agreement has reached its expiration date, you must notify both parties of your intent to cancel. Doing so before the end date of your contract may result in penalty fees being assessed. In some cases, however, a debt settlement company may waive these fees.
Step 2: Ask for the company’s cancellation steps.
If you want to cancel your debt settlement contract, you must follow the company’s specified cancellation process. Most companies will send you a message with instructions on how to exit the contract. Unless otherwise stated, you will need to continue making your original monthly debt payment.
Step 3: Pay fees
The last step in exiting your debt is to pay any outstanding fees. If you don’t make the required payments, you may be in a legal bind. So be sure to take care of this before moving on.
Now that you’re no longer working with a debt settlement company, it’s time to talk to your creditors. You still owe them money, so you must let them know how you plan to repay the debt. You have two options: either negotiate a new payment plan or stick to the original agreement. Either way, you’ll need to catch up on any missed payments.
Citizens Debt Relief BBB Reviews
Citizens Debt Relief is a reputable company with an A+ rating. However, they are not accredited by the Better Business Bureau. They have an average of 14 customer reviews and 16 complaints closed in the last three years.
Here are some Citizens Debt Relief BBB Reviews:
Rhonda H 07/21/2022
Hemant R 01/29/2022
Randy W 11/16/2021
Complaint Type: Problems with Product/Service 07/06/2022
I was called by a credit debt relief program and I signed an agreement to make payments to an account through RAM to have them resolve my credit issues. I went a month without paying the credit cards and was getting calls from the creditors, so I tried calling, and the number says it’s no longer in service. I tried a **** number and can’t get anyone to call me back there either. It says we are unable to take your call at this time.This call is during business hours. I tried logging into the account my money is supposed to be in, and it says there is an issue with the site, or the name is changed—no way of logging in. I would like to cancel this service. I want my money back if possible but mostly just trying to get the money to stop being debited from my account. This business cannot be legitimate. I hope others do not get scammed as well. Please help
Complaint Type: Problems with Product/Service 05/13/2022
Is Citizens Debt Relief Legit?
Citizens Debt Relief is a well-respected debt relief company with an A+ rating from the Better Business Bureau. However, this company is not accredited by the BBB. The internet is full of mixed reviews about citizensdebtrelief.com. Some say they were able to get out of debt with the help of this company, while others claim that they were not happy with their services.
Before deciding on using their debt relief service, be sure to do your research. And read as many customer reviews as possible.
Have you had any experience with Citizens Debt Relief? We’d love to hear about it in the comments!
Thank you for reading!