Credit: CuraDebt.com
CuraDebt (https://www.curadebt.com/) is a debt relief company that has been in business since 1996 (according to their website), making it one of the oldest in the industry. They offer debt settlement and relief services for various types of unsecured debt, including credit card debt, personal loans, medical bills, and tax debt. Based on our review, CuraDebt seems to have generated a lot of positive reviews for its debt relief services, particularly for its ability to help clients reduce their debt significantly through negotiations with creditors.
Who is CuraDebt?
As we said earlier, CuraDebt is a debt settlement company that specializes in negotiating with creditors on behalf of consumers to reduce their overall debt. They work with individuals who are struggling to manage their credit card debt, tax debt, medical bills, or other unsecured debts.
- Headquarters: Hollywood, Florida.
- States Covered: All states EXCEPT: Connecticut, Georgia, Kansas, New Hampshire, South Carolina, Vermont, and West Virginia
- Founded in: 1996 in Irvine.
- Website: https://www.curadebt.com/
- Phone: 1-877-850-3328 Ext. 400
- Services Offered:
- Free Debt Counselling
- Negotiation With Creditors
- Debt settlement
- Tax debt relief
- Debt consolidation (through partner lenders – watch out for the rates if you choose this path!)
- Minimum debt: $5,000
- Minimum Age: Must be at least 21+ years old.
- Income Minimum: No minimum but must have verifiable regular income
Company Legitimacy, Ratings & Reviews
As we covered earlier, this company is operating in the debt settlement space since 1996, which makes it one of the oldest in the industry. In our view, the company’s longevity speaks volumes about its professionalism and customer service.
- BBB Rating: A+ (best)
- Google Reviews: 4.8/5 Stars (266 Reviews)
- Investopedia: 3.9/5 Stars
- Yelp: 4.6/5 Stars
- TrustPilot: 2.3/5 Stars (13 Reviews)
- BankRate: 4.6/5 Stars
- Accreditations:
- Member of the American Association for Debt Resolution (AADR)
- Certified by the International Association of Professional Debt Arbitrators (IAPDA)
CuraDebt BBB
CuraDebt Investopedia Rating
CuraDebt Google Rating
CuraDebt Key Services & Features
- Free Consultation: They provide a free initial consultation to discuss your debt situation and see whether you qualify for their services and what debt relief program is best for you.
- List of Services Offered:
- Debt Settlement
- Debt Relief (Personal and Business)
- Debt Negotiation
- Debt Consolidation Program
- Tax Debt Relief
- Fee structure: No upfront fees; charges a fee only after successful debt settlement. Typically 20% of the settled debt
- Strategy: Utilizes various strategies, such as creditor violations (e.g., FDCPA, TCPA) to negotiate better terms for clients
- Limitations: services are not available in all U.S. states. Fill out the form to see if you qualify.
One of the key advantages of CuraDebt is that it does not charge upfront fees, meaning you only pay once a debt settlement has been successfully negotiated. The company’s fee structure is typically around 20% of the settled debt, which is in line with industry standards. CuraDebt is also known for its ability to identify creditor violations, which can sometimes lead to additional savings or settlements for the client.
However, it’s important to note that debt settlement can negatively impact your credit score, as the process often involves stopping payments to creditors while negotiations are underway. Additionally, CuraDebt’s services are not available in all U.S. states, and there have been some mixed reviews about customer service and transparency.
Customer Support Review
They seem to have a responsive customer support through their live chat feature. In fact, we asked their support team to explain their services briefly, and here is what one of their support agents named Genesis had to say:
“I’m going to explain a bit about our company and how we will assist you with your debt. Since 2000, we have been working nationwide, directly with clients’ creditors, to negotiate savings of 40 to 60 percent. Instead of making individual monthly payments to creditors, we create a plan for you where a portion of your funds is deposited into an account. As this amount accumulates, we negotiate agreements with your creditors on your behalf to eliminate your debt more quickly.
Here’s how it works: We will negotiate with each of your creditors to reduce the total amount you owe. For example, if you owe Capital One $800, and we negotiate it down to $300, you would pay $300 instead of $800. This $300 will come from your monthly payments into the account. Whenever we receive an offer, we will contact you to present it. Once you accept the offer, the money will be sent to the creditor.”
CuraDebt FAQ
What types of debt does CuraDebt handle?
CuraDebt specializes in settling unsecured debts, including credit card debt, personal loans, medical bills, private student loans, and tax debts. The company does not typically handle secured debts like mortgages or auto loans, although you should probably ask them to find out.
2. How does the CuraDebt debt settlement process work?
The process begins with a free consultation to assess your debt situation and see if you qualify for their services. If you enroll, CuraDebt will negotiate with your creditors to reduce the amount you owe. You’ll make monthly deposits into a dedicated savings account, which will be used to settle the negotiated debts. The typical time frame for settlement is 24 to 48 months.
3. Are there any upfront fees?
No, CuraDebt does not charge any upfront fees. You only pay a fee (usually 20% of the settled debt) after a successful settlement is reached and accepted.
4. Will using CuraDebt affect my credit score?
Yes, participating in a debt settlement program can negatively impact your credit score. The process often involves stopping payments to creditors, which can lead to a drop in your credit score. However, the goal is to eventually settle the debts for less than what is owed, which may help improve your financial situation in the long run. Also, note that the impact on your credit score isn’t as bad as a consumer proposal or bankruptcy.
5. How long does the debt settlement process take?
The debt settlement process with CuraDebt typically takes between 24 and 48 months, depending on the amount of debt and how quickly you can accumulate funds in your savings account for settlement.
6. Is CuraDebt available in all U.S. states?
No, CuraDebt’s services are not available in all states. It operates in 26 states and the District of Columbia. If you live in a state where CuraDebt does not operate, you’ll need to look for alternative debt relief options.
7. Does CuraDebt offer tax debt relief?
Yes, CuraDebt offers services to help with tax debt relief. Their team includes tax professionals who can negotiate with the IRS on your behalf to resolve tax debts, penalties, and liens.
8. What are the qualifications to use CuraDebt’s services?
To qualify for CuraDebt’s services, you must have a minimum of $5,000 in unsecured debt, be at least 21 years old, and have verifiable income. There is no maximum debt limit for their services.
9. What should I expect during the free consultation?
During the free consultation, a CuraDebt counselor will review your financial situation and discuss your options for debt relief. They will explain the potential savings, timeline, risks, and fees involved in the process. This consultation helps you decide if debt settlement is the right choice for you.
10. How do I get started with CuraDebt?
To get started, you can visit CuraDebt’s website to request a free savings estimate or call their customer service line. If you decide to enroll, you’ll be assigned a debt counselor who will guide you through the entire settlement process.
Amine is an entrepreneur, investor and financial writer that covers the US economy, inflation, alternative investments, cryptocurrencies and more. He has been involved in the space for over a decade.
