If you are looking to resolve your debt, you should do thorough research before making a decision. This review provides you with a comparison of Pacific Debt Relief vs Freedom Debt Relief to help you decide which company is right for you.
- 25th best financial firm, USA (INC Magazine)
- Minimum Debt $10,000
- No Minimum Credit Score
- $3 billion+ debt resolved
- Minimum Debt $7,500
- No Minimum Credit Score
- $500 million debt resolved
- BBB A+ Rating
Pacific Debt Relief Review: There Is A Reason They Are Ranked #1
People have relied on Pacific Debt Relief since 2002 to reduce their unsecured debts. Pacific Debt Relief has earned an A+ rating from the Better Business Bureau and has helped thousands of people get out of debt. Pacific Debt Relief: Is it a scam? In this Pacific Debt Relief review, we will examine Pacific Debt Relief’s history, services, and fees to determine if you should work with them.
The debt settlement company is able to help you settle your unsecured debts, such as credit cards, medical bills, personal loans, and more. Their debt counselors will work with you to create a debt consolidation plan that fits your budget once you enroll in their program. Once you enroll in their program, they will communicate with your creditors to negotiate lower interest rates and monthly payments. Should your payments be difficult to make, they will work with you to find a solution.
Is Pacific Debt Relief a scam? No, it is not. Pacific Debt Relief is a legitimate company that helps people pay off their unsecured debts. If you are in need of debt relief, Pacific Debt Relief is a good choice.
Highlights
- Consultation is free and there are no upfront costs
- After fees, you may be able to save as much as 35%
- You can monitor your account online easily
Trade-Offs
- After fees, some consumers save as little as 15%
- Pacific Debt’s relief program is only available to residents of states where the company operates.
What Is Pacific Debt Relief?
By negotiating, settling, or filing for bankruptcy, a debt relief process can reduce or eliminate debt. Since 2002, the firm has assisted over 30,000 clients to settle and resolve outstanding debts totaling over $1 billion. They have provided debt relief services to thousands of individuals struggling with credit card debt and medical debt.
It would be beneficial for consumers who are having difficulty making minimum payments and who are concerned about reducing the amount they must pay to their creditors to consider the services of this debt settlement company.
Many people require debt relief for a variety of reasons. For instance, they may have lost their jobs and are unable to meet their obligations. Alternatively, they may have experienced a medical emergency that prevents them from working.
Their goal is to help you find a solution that meets your needs and budget, and they have an 85% success rate, so you can be confident that they will do everything in their power to assist you.
How Does Pacific Debt Relief Work?
Pacific Debt Relief is a debt settlement company that aims to help people struggling with debt by negotiating with creditors to settle the debt for less than what is owed. Here is how Pacific Debt Relief typically works:
- Initial consultation: The first step is to schedule a free consultation with Pacific Debt Relief to discuss your financial situation and determine if debt settlement is the right option for you. During this consultation, a debt specialist will review your debts and income to determine if you qualify for their services.
- Enrollment: If you decide to move forward with Pacific Debt Relief, you will enroll in their program by signing a contract and providing information about your debts and creditors. You will also begin making monthly payments into a dedicated account that will be used to negotiate with your creditors.
- Debt settlement negotiation: Once you have built up enough funds in your dedicated account, Pacific Debt Relief will begin negotiating with your creditors to settle your debts for less than what is owed. They will work to reach a mutually agreeable settlement with each creditor, and once a settlement is reached, you will be notified and asked to approve it.
- Payment: After a settlement has been reached, you will need to make the agreed-upon payment to your creditor. Pacific Debt Relief will help you coordinate this payment, and once the payment has been made, the debt will be considered resolved.
- Program completion: Once all of your debts have been settled, you will complete the Pacific Debt Relief program. You will no longer owe money to the creditors that were settled, but you may still owe money to any creditors that were not included in the program.
It’s important to note that debt settlement can have a negative impact on your credit score, as it involves settling debts for less than what is owed. However, Pacific Debt Relief can help you rebuild your credit after completing the program.
Pacific Debt Summary
- Accreditation: American Fair Credit Council, Better Business Bureau, Consumer Affairs, International Association of Professional Debt Arbitrators
- Consultation: Free phone or online consultation with a customer services rep
- Costs: 15% to 25% of the total debt enrolled. Fees vary from state to state.
- Customer Service: Phone or email
- Debts accepted: All unsecured debt except consumer finance loans, payday loans, legal judgments, and medical debts not already in collections. Minimum debts considered are typical $10,000
- Free resources offered: Informative debt management blog
- Restrictions: Pacific Debt services are only available in 25 states
- Service offered: Debt settlement through direct negotiations
- Trust ratings: BBB rating of A+ and 9.3 Trustpilot score
- Turnaround time: 24 to 48 months or more
How to qualify for Pacific Debt Relief
If you are looking for debt relief companies to assist you in getting out of debt, what do you need to know about qualifying for a loan such as Pacific Debt Relief?
To qualify for a debt settlement program from Pacific Debt Relief, you must have a minimum of $10,000 in debt and a maximum of $100,000 in debt, a good credit score, and a steady income.
If you meet these criteria, you may be eligible for a debt relief loan from Pacific Debt Relief. The process is simple and you will be out of debt in no time.
How To Sign Up With Pacific Debt
Your first step will be to speak with a certified debt specialist who will discuss your financial situation and determine whether or not you are a good candidate for debt settlement.
You can arrange a free consultation by following the steps below:
- Visit the website of Pacific Debt Inc.
- Contact a debt specialist by clicking Free Consultation
- Click on See Savings after selecting your debt amount
- Choose how far behind you are with your payments
- You may choose your state of residence
- Click on the Submit button after entering all relevant contact information
How much does it cost to use Pacific Debt?
As a general rule, the fees are 15-25% of the debt enrolled, so if you have $10,000 in debt, you can expect to pay $1,500-$2,500 over the course of the loan.
You should be aware that this is only an estimate – your debt settlement terms will determine your monthly payments. Pacific Debt does not charge upfront fees, so if you are seeking debt settlement without surprises, this company may be of interest to you.
What Could You Save With Pacific Debt Relief?
With an average savings of 50%, Pacific Debt Relief might be a great option for you. But keep in mind that these are savings before fees are applied.
When fees are taken into account, Pacific Debt Relief typically saves 15% to 35% on debt consolidation. Pacific Debt Relief may not be the best option if you are looking to save a lot. However, if you are willing to sacrifice some potential savings for the convenience of working with a reputable company, Pacific Debt Relief might be an appropriate choice.
See If You Qualify for Credit Card Relief
See how much you can save every month — plus get an estimate of time savings and total savings — with your very own personalized plan.
How long does it take for the Pacific Debt Relief program to begin resolving your debt?
On the company’s website, Pacific Debt Relief claims its program is designed to help you pay off your debt as quickly as possible. Once enrolled, the company will negotiate with your creditors to negotiate a debt settlement plan on your behalf.
Most of their clients are able to resolve their debts within 12 to 36 months. If you are struggling to make payments, your creditor may be able to negotiate a lower interest rate or monthly payment amount with you. They will work with you to create a budget and payment plan that meets your needs.
How does Pacific Debt Relief affect your credit?
It is possible for Pacific Debt Relief to negatively impact your credit score, but you may not know how.
Pacific Debt Relief will negotiate with your creditors on your behalf to reduce your monthly payments and/or interest rates.
Once your creditors accept the settlement offer, you will make monthly payments to them rather than directly to them. They will retain these payments until we have enough money to pay off your debt.
As a result of the settlement, the credit bureaus will report your debt as “settled,” which will negatively impact your credit score. However, settling your debt is still an option that is better than declaring bankruptcy.
How to use Pacific Debt Relief’s website?
Pacific Debt Relief is a great resource if you are looking for debt relief. Here is a guide on how to use it. Find out how much you can save by working with Pacific Debt Relief by using the “Calculate Your Savings” tool.
Check out the “Success Stories” section as well to learn how Pacific Debt Relief has helped real people. Lastly, read the “Frequently Asked Questions” section to learn more about Pacific Debt Relief.
If you follow these steps, you will be well on your way to debt relief.
Pacific Debt Relief BBB Reviews
If you are considering Pacific Debt Relief to assist you with your debt, you may be interested in knowing Pacific Debt Relief’s BBB rating, as well as information about their complaints history.
Since 2010, Pacific Debt Relief has been accredited by the Better Business Bureau, and they are currently A+. Pacific Debt Relief has closed three complaints in the last three years, and one in the last 12 months. Although this is not a perfect record, Pacific Debt Relief is generally responsive to complaints.
The BBB rating of Pacific Debt Relief may be something to consider if you are considering their services to revitalize your finances. Read through their complaints history for a more complete picture.
Here are some Pacific Debt Relief BBB reviews:
Brian D 07/22/2022
Deborah K. 02/10/2023
Nicole H 02/03/2023
Is Pacific Debt Relief Legit?
There are many people who wonder whether this company is legitimate and if it settles millions of dollars in consumer debt each month.
It is important to note that Pacific Debt Relief is a legit company with an A+ rating from the Better Business Bureau. They have been in business for 20 years and have helped thousands of people get out of debt. However, they only cover half of the states nationwide.
Pacific Debt Relief is a great choice if you are looking for a legitimate debt relief company. Please share your experience with Pacific Debt Relief in the comments section below.
Freedom Debt Relief Review: One Of The Nation’s Largest Debt Settlement Companies
Would you consider seeking help from a debt relief company if you are having difficulty paying off your debts? Are you feeling overwhelmed and stressed? In this article, we will examine Freedom Debt Relief, one of the most popular companies in this industry. We will discuss their history, their services, and their fees. Additionally, we will provide information regarding the pros and cons of working with Freedom Debt Relief.
Two entrepreneurs, Andrew Houser and Joshua Lewis, founded the company in 2002 while both were employed at a debt settlement firm referred to as National Consumer Center. After leaving that company, they began their own business, aimed at providing a more affordable and customer-friendly option to people who needed assistance resolving credit card debt.
It is a Platinum member of the International Association of Professional Debt Arbitrators and a member of the American Fair Credit Council.
The company has assisted thousands of people to get relief from their debts since its inception. Three major services are offered by Freedom Debt Relief: debt consolidation, debt settlement, credit card debt, and credit repair services. All of these services are designed to help individuals manage their debts and get on track with their finances.
Freedom Debt Relief Pros And Cons
Working with Freedom Debt Relief has both pros and cons.
Pros
- Debt relief can be achieved more quickly
- In most cases, it is less expensive than bankruptcy
- There is a possibility that you can keep your property
- Service of credit repair
Cons
- There is a possibility that you will have to pay taxes on the forgiven debt
- Your credit score will be damaged as a result
- There may still be some money owed to you
In some cases, it can be an excellent way to get out of debt, but it may not be right for everyone. Be sure to examine all your options before making a decision.
What Is Freedom Debt Relief?
The company Freedom Debt Relief specializes in helping people pay off credit card debt. They offer services such as debt consolidation, credit counseling, and bankruptcy alternatives. Freedom Debt Relief assists people in developing a plan that will assist them in getting out of debt as quickly as possible.
Freedom Debt Relief and National Debt Relief are arch-competitors when it comes to capturing debt settlement customers and gaining market share. National Debt Relief has maintained a relatively clean record with consumer regulators. As an alternative, Freedom Debt recently settled a $25 million lawsuit with the Consumer Financial Protection Bureau and a $3.6 million lawsuit with the New York Attorney General.
How Does Freedom Debt Relief Work?
As a result of this process, people are able to reduce or eliminate interest rates, late fees, and other penalties associated with unsecured debt. Consequently, people are able to pay off their debts faster since their monthly payments are more affordable. By improving credit scores, people can begin rebuilding their finances after eliminating their debts by improving their credit scores.
How Does The Freedom Debt Relief Program Work?
It is designed to help people who are struggling with unsecured debt. This program works by working with creditors to reduce your unsecured debt payments. By speaking with Freedom’s certified debt consultant, you will be able to establish a program that works for you by consolidating your debts, making lump-sum payments, or reducing your interest rates. In order to improve your financial situation, the program’s goal is to assist you in getting out of debt.
How Does Freedom Debt Relief Affect Your Credit?
Despite the fact that Freedom Debt Relief may help you reduce your debt, it may also negatively affect your credit rating.
In addition, if you miss any payments during the program, your credit report will reflect those missed payments for seven years.
You should consider the pros and cons of Freedom Debt Relief before deciding to allow them to pay off your debts.
How Much Does Freedom Debt Relief Cost?
Generally, Freedom Debt Relief program fees range from 15-25% of your debt, but the average fee is 20%. As an example, if you enroll $20,000 in debt, you can expect to pay around $4000.
Here is a description of how those fees are structured and what they cover. The first month’s payment will be applied to your setup fee when you enroll in Freedom Debt Relief’s program. Future monthly payments will be applied to your account balance after the first month’s payment is applied to your setup fee.
In addition to your debt, you have two components to your account balance, which are your debt and the Freedom Debt Relief program fees. As mentioned previously, program fees are typically 15-25% of your enrolled debt.
Several services are covered by the program fees, including account setup and maintenance, communication with creditors, negotiating reduced interest rates and monthly payments, and access to our certified credit counselors. Your monthly program fees represent an investment in your financial future and your self-esteem. You are investing in lower interest rates, smaller monthly payments, and freedom from debt as a result.
How To Contact Freedom Debt Relief Customer Service
You can contact them by telephone at 800-653-1948, or by visiting their website at freedomdebtrelief.com and clicking on the “Contact Us” link at the bottom of the page. Please ensure that you have your account information handy when you contact customer service so that they can assist you as quickly as possible.
How To Use Freedom Debt Relief Website
People who are struggling with unsecured debt and looking for a balance debt resolution can find the FreedomDebtRelief.com website to be an excellent resource. The website contains information on how to resolve debt problems, negotiate with creditors, and create a budget, as well as a forum where people can share their experiences and ask questions.
You can use it as follows:
The first step is to create an account. You will need to provide some basic information, such as your name, email address, and phone number. Once you have created an account, you will be able to log in and begin exploring the site.
You will see a Debt Freedom Calculator as soon as you log in. This tool will help you figure out how much debt you have, what your monthly payments are, and how long it will take you to repay it.
The next step is to examine the negotiation tools. These tools can assist you in negotiating with creditors and obtaining lower interest rates.
Last but not least, you should take advantage of the budgeting resources. These resources can assist you in creating a budget with a full balance debt resolution that is appropriate for your family.
Is Freedom Debt Relief Legit?
There is no simple answer to this question. It is a legitimate company that has helped people get out of debt for over 15 years. However, there are some things you should know before taking advantage of their services.
Firstly, this service is not a magic solution to your debt problems. The company will assist you in creating a debt settlement program to pay off your debt.
Second, Freedom Debt Relief charges fees for its services. These fees can be substantial depending on how much debt you have and how much assistance you require.
Third, Freedom Debt Relief only works with unsecured debts, such as credit card debts. If you have other types of debt, such as student loans or medical bills, you will need to find another solution.
Fourth, Freedom Debt Relief is not available in all states. If this is the case, you will need to seek another debt relief solution.
Remember that debt relief is not a quick fix. It will take time and effort to make the necessary changes to get out of debt. However, be sure to discuss possible tax consequences.
Freedom Debt Relief BBB Reviews
In this review, we examine Freedom Debt Relief BBB ratings to see what customers are saying about the company.
In general, the reviews are positive, with many people stating that Freedom Debt Relief helped them get out of debt. There are, however, a few complaints that must be addressed.
Sheila 02/21/2022
Kristina 02/19/2022
Maikel 02/11/2022
Is Freedom Debt Relief A Good Company?
Freedom Debt Relief has received mixed reviews. Some people say that it helps you get out of debt, while others claim that it is a scam. So, what is the truth?
Freedom Debt Relief may be a good company for some people and a bad company for others. It all depends on your specific financial situation.
Make sure to do your research before choosing Freedom Debt Relief to help you get out of debt. That way, you can be sure that Freedom Debt Relief is the right fit for you.
