CuraDebt – Legit Company for Debt Relief? Read Our Review…

by Amine Rahal | Feb 5, 2025 | Debt Relief

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)
• BBB Reviews: 4.74/5 Stars (27 Reviews)
• Google Reviews: 4.8/5 Stars (304 Reviews)
• Investopedia: 3.9/5 Stars
• Yelp: 4.6/5 Stars (12 Reviews)
• TrustPilot: 4.7/5 Stars (30 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​.

TurboDebt – Legit Debt Relief Company? Read Our Review…

by Amine Rahal | Feb 2, 2025 | Debt Relief

TurboDebt (www.TurboDebt.com), sometimes also spelled Turbo Debt, is a Debt Relief Company that offers services like Debt Settlement, Debt Relief, Debt Settlement, Credit Counseling, Credit Repair, Debt Consolidation, Debt Management and debt negotiation. TurboDebt aims to help individuals reduce their unsecured debts by negotiating with creditors to settle debts for less than the full amount owed. However, like most companies in the debt relief industry, TurboDebt has mixed reviews and may not be suitable for everyone.

Company’s Snapshot

• Official Name: TurboDebt, LLC
• Official Website: www.TurboDebt.com
• Phone: (844) 833-9771
• Headquarters: 1643 NW 136th Ave, Building H Sunrise, Florida 33323
• Service Available in: All states except WI, MN,OR, VT, and WV.
• Founder: Joshua A. Stomel

Legitimacy, Ratings & Reviews

TurboDebt is a certified member of the American Association for Debt Resolution (AADR)

• BBB Rating: A+ (maximum)
• Google Reviews: 4.9/5 stars (6,692 reviews)
• BBB Reviews: 4.9/5 stars (1,301 reviews)
• TrustPilot Reviews: 4.9/5 stars (11,509 reviews)
• Facebook Reviews: 4.4/5 stars (44 reviews)
• SoloSuit: 4.8/5 stars (367 reviews)
• ConsumerAffairs: 4.2/5 stars (13 reviews)

TurboDebt is definitely a legitimate company, and they seem to have a lot of great reviews, including an A+ rating by the BBB and a 4.9 out of 5 stars rating from TrustPilot. However, it’s essential to do your own research and consider whether debt settlement is the right choice for your financial situation. Debt settlement may not be the best option for everyone, especially if you have alternatives like credit counseling, debt management plans (DMP’s), or the ability to sell assets to pay off your debt.

Services Offered by TurboDebt

Based on our review, these are the services currently offered by TurboDebt:

• DMP: TurboDebt can offer DMP’s (Debt Management Plans) which can help you more easily manage debt.
• Debt Settlement: this service involves negotiating directly with lenders on your behalf to settle your debt for less than what you currently owe.
• Credit Counseling: Get help from a professional who will look at your situation and offer the best possible advice. 
• Credit Consolidation: If your credit scores are fair or good, you can qualify to get a lower interest rate debt consolidation loan to consolidate all your debts into a single monthly payment.
• Debt Forgiveness: Total debt forgiveness is very rare, but their counselors may be to help you see if you qualify for partial loan forgiveness.
• Bankruptcy: When you qualify for none of the above, bankruptcy may be the only solution. The good news is that it will wipe out most of your debt. The bad news is that the impact on your credit score will be felt for  years.

If you need any more info about these services, we recommend reading the “How to get rid of debt” article from the FTC.

Pros👍:

• Not a Lender: Unlike many other so-called “debt relief companies” that are essentially just lenders, TurboDebt clearly and explicitly states on its website that it is NOT a lender and does NOT issue loans. This is good news from our point of view, since you can rest assured that they won’t try to sell you a high-interest loan to pay off your debt. 
• Free Consultation: This is a great starting point if you are unsure of which service is best to lower your debt. They offer various services, and the impact on your credit score varies with each service, so ask them for details about your specific situation and what option is best for you. 
• Debt Reduction: TurboDebt can help reduce the overall amount you owe by negotiating with your creditors.
• Debt Counseling: TurboDebt offers a free consultation where they can offer advice based on your specific situation. 
• Various Debt Relief Options: If you’re struggling to manage your debt, TurboDebt might provide a viable option for you to get back on track, and the good thing is they offer personalized advice based on each client’s financial situation.

Cons👎:

• Fees: Although they offer free consultations, all debt settlement companies, including TurboDebt, typically charge fees that are a percentage of the debt they help settle. Do your math to see if it makes sense for you. 
• Potential Credit Impact: Depending on what service you choose, participating in a debt settlement program can negatively impact your credit score, as it often involves stopping payments to creditors. It is however not as bad and less severe as a bankruptcy or other options. 
• Mixed Reviews: Although the reviews are mostly good, some customers report a negative experience with the service, while others have experienced difficulties, including complaints about customer service and outcomes. Do your due diligence. 

Debt Types They Can Help With

As listed on their website, TurboDebt can help you with the following types of debt:

1. Business Debt: Debt incurred by a business owner to fund or maintain business operations, often including loans, credit lines, or business credit cards.
2. Car Debt: Debt resulting from an auto loan taken out to finance the purchase of a vehicle, typically repaid in monthly installments.
3. Credit Card Debt: Unsecured debt that accumulates from unpaid balances on credit cards, often carrying high-interest rates.
4. Divorce Debt: Debt accumulated during or as a result of divorce proceedings, which can include legal fees, alimony, and the division of shared debts.
5. Gambling Debt: Debt arising from money borrowed or credit used to finance gambling activities, often leading to financial strain.
6. Medical Debt: Debt incurred from healthcare expenses, such as hospital bills, surgeries, and treatments, that are not covered by insurance.
7. Tax Debt: Debt owed to the government due to unpaid taxes, which can include penalties and interest on overdue amounts.
8. Veteran Debt: Debt specific to veterans, which can include unpaid benefits, loans, or other financial obligations tied to military service.
9. Mortgage Debt: Debt secured by real property through a mortgage loan, typically repaid over a long term, such as 15 or 30 years.
10. Retirement Debt: Debt that remains or accumulates during retirement, often from credit cards, loans, or lingering mortgage payments, affecting financial security in retirement.

This review should help you decide whether TurboDebt is right for you. Make sure you read our CuraDebt and Oak View Law Group reviews, are they are also two other legitimate debt relief companies that offer similar services. 

Also, make sure you do your due diligence and speak to a financial advisor or credit counseling company to determine the best debt relief option available for your specific situation. 

20 Best Debt Settlement Companies Ranked By Ratings & Reviews (2025)

by Amine Rahal | Feb 1, 2025 | Debt Relief

Reviewed by: Lauren Brown

In these high-inflation times, people often ask us which company they should choose for debt settlement, negotiation or management. Now, since we couldn’t find a list of debt settlement companies in America ranked by their reviews and ratings on trusted third-party sites like the BBB, Google Reviews, TrustPilot and others, we decided to create one. If you are looking for the best rated debt settlement provider to help you with lowering your debt or better managing your payments, this list should help you):

Best For Over 10k Debt	New Era Debt
Best For Under 10k Debt	CuraDebt
Best Debt Lawyer	Oak View Law

1) New Era Debt Solutions (4.9/5)

Logo of New Era Debt Solutions (credit: neweradebtsolutions.com)

• URL: www.neweradebtsolutions.com
• Minimum Debt: $10,000
• Fees: 14% to 23%

New Era Overview & Reviews:

New Era Debt Solution is a debt settlement company headquartered in Camarillo, California. They focus on credit card debt relief and employ debt relief experts, financial professionals, attorneys and support staff. They offer debt settlement, debt negotiation and negotiation with creditors.

• BBB: A+ (4.95/5 – 59 reviews)
• Google: 4.9/5 (207 reviews)
• TrustPilot: 4.8/5 (398 reviews)
• Certifications: IAPDA
• Combined Reviews: 664
• Average Rating: 4.9/5

2) TurboDebt (4.9/5) 

• URL: www.turbodebt.com
• Fees: 15% to 25%
• Minimum Debt: $10,000

TurboDebt Overview & Reviews:

TurboDebt is one of the most highly-rated debt settlement companies (as you can see below) that we have had a chance to review, combining a total of over 17,000 positive reviews. They can help you decrease and pay off several types of debt, including credit card, tax, personal loans, student loans, medical bills and more. Learn more by reading our TurboDebt review.

• BBB: A+ (4.92/5 – 17,343 reviews)
• Google: 4.8/5 (4,859 reviews)
• TrustPilot: 4.9/5 (11,190 reviews)
• Certifications: AADR, BBB
• Consolidation Loans: No
• Combined Reviews: 33,392
• Average Rating: 4.9/5

3) National Debt Relief (4.72/5)

• URL: www.nationaldebtrelief.com 
• Fees: 15% to 25%
• Minimum Debt: $10,000

National Debt Relief Overview & Reviews:

National Debt Relief is similar to Turbo Debt. However, they do also offer loans, which isn’t necessarily a good thing if you’re in a tough financial situation, as you won’t qualify for a good rate. They also offer debt settlement, debt consolidation, credit counseling and more.

• BBB: A+ (4.75/5 – 4,548 reviews)
• Google: 4.6/5 (9,112 reviews)
• TrustPilot: 4.8/5 (31,000 reviews)
• Certifications: AADR, IAPDA
• Combined Reviews: 44,660
• Average Rating: 4.72/5

4) Freedom Debt Relief (4.59/5)

• URL: www.freedomdebtrelief.com
• Fees: 15% to 25%
• Minimum Debt: $10,000

Freedom Debt Relief Overview & Reviews:

Freedom Debt Relief is a highly-rated debt counselling agency with a particular focus on credit card debt. They offer debt settlement, debt management plans and credit counseling.

• BBB: A+ (4.47/5 – 1,917 reviews)
• Google: 4.7/5 (509 reviews)
• TrustPilot: 4.6/5 (42,334 reviews)
• Certifications: AADR, IAPDA
• Combined Reviews: 44,760
• Average Rating: 4.59/5

5) Pacific Debt Relief (4.85/5)

• URL: www.pacificdebt.com
• Fees: 15% to 35%
• Minimum Debt: $10,000

Freedom Debt Relief Overview & Reviews:

Pacific Debt is a debt settlement company with the ability to handle many types of debt, including medical bills, overdue utility payments, credit cards, personal loans, tax debt, payday loans, bankruptcy, and certain contracts, like gym memberships. They also offer financial education.

• BBB: A+ (4.93/5 – 1,930 reviews)
• Google: 4.6/5 (259 reviews)
• TrustPilot: 4.8/5 (1,853 reviews)
• Certifications: CDRI, IAPDA
• Combined Reviews: 4,042
• Average Rating: 4.85/5

6) Accredited Debt Relief (4.86/5)

• URL: www.accrediteddebtrelief.com
• Minimum Debt: $10,000
• Fees: 25%

Accredited Debt Relief Overview & Reviews:

Accredited Debt Relief is a highly-rated debt consolidation company that heavily advertises the ability to help customers be debt-free in 24-48 months.  Unlike other agencies reviewed previously, Accredited Debt Relief does offer debt consolidation loans through their partners, and the APRs can be quite high, up to 35.99% for those with less desirable credit scores. 

• BBB: A+ (4.89/5 – 2,080 reviews)
• Google: 4.8/5 (7,148 reviews)
• TrustPilot: 4.9/5 (7,190 reviews)
• Certifications: N/A
• Combined Reviews: 16,418
• Average Rating: 4.86/5

7) Money Management International (4.76/5)

• URL: www.moneymanagement.org
• Minimum Debt: No Minimum
• Fees: $33 for set-up fees; $25 for monthly fees

MMI Overview & Reviews:

Money Management International is one of the fastest-growing debt relief companies, and have acquired many other smaller debt relief providers, such as Debt Advisors of America. They provide debt settlement at a unique monthly fee structure that is different from most of the other companies we reviewed. 

• BBB: A+ (4.89/5 – 339 reviews)
• Google: 4.9/5 (502 reviews)
• TrustPilot: 4.7/5 (1,828 reviews)
• Certifications: FCAA, NFCC.
• Combined Reviews: 2,669
• Average Rating: 4.76/5

8) ClearOne Advantage (4.37/5)

• URL: www.clearoneadvantage.com
• Minimum Debt: $10,000
• Fees: 20% to 25%

ClearOne Overview & Reviews:

ClearOne Advantage is another popular and well-reviewed debt settlement company that offers free initial consultations to help you determine the best plan of attack to tackle your debt. 

• BBB: A+ (4.0/5 – 544 reviews)
• Google: 4.4/5 (3,182 reviews)
• TrustPilot: 4.7/5 (8,784 reviews)
• Certifications: IAPDA
• Combined Reviews: 12,510
• Average Rating: 4.37/5

9) Century Support Services (4.74/5)

Century Support Services Logo

• URL: www.centuryss.com
• Minimum Debt: $10,000
• Fees: 25%

Century Support Services Overview & Reviews:

This company was founded in 2008 and has been operating for over 15 years. They serve clients nationwide, although they exclude some states. Just like others reviewed in this list, they offer debt settlement, debt resolution, debt management plans and more.

• BBB: A+  (3.65/5 – 97 reviews)
• Google: 4.7/5 (898 reviews)
• TrustPilot: 4.8/5 (2,591 reviews)
• Certifications: AADR, IAPDA
• Combined Reviews: 3,586
• Average Rating: 4.74/5

10) Guardian Debt Relief (2.25/5)

• URL: www.guardiandebtrelief.com
• Minimum Debt: $7,500
• Fees: 25%

Guardian Debt Relief Overview & Reviews:

Guardian Debt Relief doesn’t have the most flattering review profile, but we included them because they are a well-known brand when it comes to debt settlement. Based in New York, they offer debt settlement, debt management, financial counseling and more. 

• BBB: (2.33/5 – 3 reviews)
• Google: 3.0/5 (33 reviews)
• TrustPilot: 1.7/5 (46 reviews)
• Certifications: IAPDA, AFCC
• Combined Reviews: 82
• Average Rating: 2.25/5

11) GreenPath Financial Wellness (4.79/5)

• URL: www.greenpath.com
• Minimum Debt: None
• Fees: N/A

GreenPath Financial Wellness Overview & Reviews:

GFW works nationwide and can help settle your debt with multiple creditors, including banks, credit unions, retailers, medical providers, auto finance agencies, and collection agencies.

• BBB: A+ (4.8/5 – 345 reviews)
• Google: N/A 
• TrustPilot: 3.5/5 (2 reviews)
• Certifications: NFCC
• Combined Reviews: 347
• Average Rating: 4.79/5

12) CreditAssociates (4.83/5)

• URL: www.creditassociates.com 
• Minimum Debt: None
• Fees: 25%

CreditAssociates Overview & Reviews:

CreditAssociates is a Dallas-based debt settlement company that has some great reviews on TrustPilot, but not as good on the BBB. They have a similar setup as most other debt settlement providers on this page, charging 25% of your debt and no upfront fees for consultation. 

• BBB: A+ (4.01/5 – 208 reviews) 
• Google: 4.3/5 (2,165 reviews)
• TrustPilot: 4.9/5 (17,658 reviews)
• Certifications: AADR, IAPDA
• Combined Reviews: 20,031
• Average Rating: 4.83/5

13) DMB Financial (4.73/5)

• URL: www.dmbfinancial.com
• Minimum Debt: $10,000
• Fees: 15% to 25%

DMB Financial Overview & Reviews:

DMB Financial is a Massachusetts-based debt settlement company. DMB Financial advertises the ability to help you consolidate all of your high-interest credit card balances into one lower, flat monthly program payment, which is similar to what most of the other companies on this page do. 

• BBB: (4.86/5 – 226 reviews)
• Google: 4.7/5 (933 reviews)
• TrustPilot: N/A
• Certifications: IAPDA
• Combined Reviews: 1,159
• Average Rating: 4.73/5

14) Trinity Debt Management (1.5/5)

• URL: www.trinitycredit.org
• Minimum Debt: N/A
• Fees: N/A

TDM Overview & Reviews:

Based in Ohio, Trinity Debt Management is a Christian debt management company that offers credit counseling, budgeting help, financial education, debt settlement and more. They don’t advertise their minimums and their fees.

• BBB: N/A (Currently updating profile)
• Google: N/A
• TrustPilot: 1.5/5 (180 reviews)
• Certifications: N/A
• Combined Reviews: 180
• Average Rating: 1.5/5

15) Consolidated Credit Counseling Services (4.8/5)

• URL: www.consolidatedcredit.org
• Minimum Debt: N/A
• Fees: up to 25%

Consolidated Credit Overview & Reviews:

Consolidated Credit has a flat monthly fee for its debt relief program. They charge a one-time setup fee ranging from $50 to $75, and their monthly service fee is about $30. They don’t advertise any minimum debt. 

• BBB: A+ (2.18/5 – 11 reviews)
• Google: 4.8/5 (1,808 reviews)
• TrustPilot: 4.8/5 (9,083 reviews)
• Certifications: NFCC, FCAA, CFC
• Combined Reviews: 10,902
• Average Rating: 4.8/5

16) InCharge Debt Solutions (4.66/5)

• URL: www.incharge.org 
• Minimum Debt: None
• Fees: 15% to 25%
• Combined Reviews: 2,326
• Average Rating: 4.53/5

InCharge Overview & Reviews:

Incharge is a Florida-based debt management company that offers credit counseling, debt consolidation and more. Unlike many companies reviewed on this page which require a minimum 10k debt to work with you, InCharge advertises a “no minimums”. 

• BBB: A+ (3.36/5 – 14 reviews)
• Google: 4.0/5 (107 reviews)
• TrustPilot: 4.7/5 (2,206 reviews)
• Certifications: NFCC, FCAA, COA
• Combined Reviews: 2,327
• Average Rating: 4.66/5

17) CuraDebt (4.73/5)

• URL: www.curadebt.com
• Minimum Debt: $5,000
• Fees: 15% to 25%

CuraDebt Overview & Reviews:

Founded in 1996, CuraDebt (which we previously reviewed here) is probably the oldest debt settlement company reviewed in this list. What makes them stand out, aside from their longevity, is their low minimum. They are the only company that advertises low minimums of $5,000 and they will sometimes take clients with debt lower than that.

• BBB: (4.7/5 – 23 reviews)
• Google: 4.8/5 (271 reviews)
• TrustPilot: 3.3/5 (12 reviews)
• Certifications: IAPDA, AFCC
• Combined Reviews: 306
• Average Rating: 4.73/5

18) ACCC (4.99/5)

• URL: www.consumercredit.com
• Minimum Debt: N/A
• Fees: Monthly Fee.

ACCC Overview & Reviews:

The ACCC is technically NOT a debt settlement company. They are a credit counseling agency that focuses on providing DMPs (aka Debt Management Plans) to help you better manage and repay your debt. The disadvantage is that DMPs don’t decrease your debt. 

• BBB: A+ (4.98/5 – 1,054 reviews)
• Google: 5/5 (1,068 reviews)
• TrustPilot: N/A
• Certifications: NFCC, COA
• Combined Reviews: 2,122
• Average Rating: 4.99/5

19) Navicore Solutions (4.36/5)

• URL: www.navicoresolutions.org
• Minimum Debt: N/A.
• Fees: Monthly Fee.

Navicore Overview & Reviews:

Founded in New Jersey, Navicore is a nonprofit that assists clients in terms of debt management plans, credit counseling, housing counseling and more. Similar to the ACCC, Navicore focuses strictly on providing advice and guidance. They don’t offer debt settlement, consolidation or any other debt relief program. 

• BBB: (4.86/5 – 28 reviews)
• Google: 4.2/5 (140 reviews)
• TrustPilot: 4.4/5 (216 reviews)
• Certifications: FCAA, NFCC, COA
• Combined Reviews: 384
• Average Rating: 4.36/5

20) DebtHelper (4.79/5)

• URL: www.debthelper.com
• Minimum Debt: N/A
• Fees: N/A

DebtHelper Overview & Reviews:

DebtHelper is yet another Florida-based debt counseling agency. Based on our review of their website, they don’t seem to offer debt settlement or consolidation programs. Instead, they focus on counseling, DMP’s and financial education. They put a special emphasis on credit cards, housing and student debts. 

• BBB: A+ (4.95/5 – 697 reviews)
• Google: 4.1/5 (168 reviews)
• TrustPilot: 4.8/5 (58 reviews)
• Certifications: NFCC, FCAA
• Combined Reviews: 923
• Average Rating: 4.79/5

FAQ About Debt Settlement 

1. What is debt settlement? How does debt settlement work?

Debt settlement is a process where a company negotiates with your creditors to reduce the total amount of debt you owe. The goal is to settle your debts for less than the full balance, often through a lump-sum payment or structured payment plan (DMP). This can be an effective way to lower and better handle overwhelming debt, but it may impact your credit score. It also comes with fees charged by the debt settlement company.

---

2. How were the debt settlement companies ranked in this list?

The companies were ranked based on their average ratings and the total number of reviews across reputable platforms such as the Better Business Bureau (BBB), Google Reviews, and TrustPilot. We wanted this rating to be as objective as possible.

Top 5 Companies Based on their Ratings and Reviews:

1. TurboDebt
   • Average Rating: 4.9/5
   • Combined Reviews: 33,392
2. New Era Debt Solutions
   • Average Rating: 4.9/5
   • Combined Reviews: 664
3. Accredited Debt Relief
   • Average Rating: 4.86/5
   • Combined Reviews: 16,418
4. DMB Financial
   • Average Rating: 4.73/5
   • Combined Reviews: 1,159
5. Pacific Debt Inc.
   • Average Rating: 4.85/5
   • Combined Reviews: 4,042

---

3. What services do these debt settlement companies offer?

Here, we are discussing debt settlement as the core service. Now, some of these companies also offer debt consolidation loans, credit counseling, DMPs and other services. Examples:

• TurboDebt offers debt settlement services for various types of debt, including credit cards, personal loans, student loans, tax debts, and medical bills.
• Accredited Debt Relief provides debt settlement and also offers debt consolidation loans through their partners.
• Money Management International (MMI) focuses on debt management plans and credit counseling with a unique monthly fee structure.

---

4. What are the typical fees associated with debt settlement services?

As you probably have noticed, the fees for debt settlement services typically range between 15% to 25% of the enrolled debt amount. Some companies may have different fee structures, including setup fees and monthly service fees.

Fee Structure Examples:

• TurboDebt: 15% to 25% of enrolled debt.
• New Era Debt Solutions: 14% to 23% of enrolled debt.
• Accredited Debt Relief: Flat 25% of enrolled debt.
• Money Management International: $33 setup fee and $25 monthly fee. (Note: Not a settlement company)
• Consolidated Credit Counseling Services: Up to 25% with additional setup and monthly fees.

Note about these fees: Fees are typically only charged after a successful settlement. It’s important to understand the fee structure before enrolling in any program.

---

5. What is the minimum debt requirement to work with these companies?

Minimum debt requirements vary by company. Most require a minimum of $10,000, while some companies have lower minimums of $5,000 or no minimum debt requirement at all if we’re talking about debt counseling and DMP’s.

Minimum Debt Examples:

• CuraDebt: Minimum debt of $5,000. (Lowest in the debt settlement space!)
• TurboDebt, National Debt Relief, and Freedom Debt Relief: Minimum debt of $10,000.
• CreditAssociates and InCharge Debt Solutions: No minimum debt requirement.
• Money Management International: No minimum debt requirement. (Note: Not a settlement company)

---

6. Do these companies offer debt consolidation loans?

Not all debt settlement companies offer debt consolidation loans. Some focus solely on negotiation and settlement, while others partner with lenders to provide consolidation options. We recommend that you be very careful and diligent if you plan to get a personal loan to pay your debt. Unless your credit score is high enough and you have sufficient income, you will likely get less than ideal terms and rates for your loan, which will sink you deeper into debt.

Companies Offering Debt Consolidation Loans:

• Accredited Debt Relief: Offers consolidation loans through partners with APRs up to 35.99%.
• National Debt Relief: Provides debt consolidation services along with settlement.
• DMB Financial: Assists with consolidating high-interest credit card balances into lower monthly payments.

Companies Not Offering Loans:

• TurboDebt
• New Era Debt Solutions
• Pacific Debt Inc.
• Century Support Services

---

7. What certifications should a reputable debt settlement company have?

Certifications indicate adherence to industry standards and ethical practices. Reputable certifications for providers of debt relief services include:

• American Fair Credit Council (AFCC)
• International Association of Professional Debt Arbitrators (IAPDA)
• Better Business Bureau (BBB) Accreditation
• Financial Counseling Association of America (FCAA)
• National Foundation for Credit Counseling (NFCC)

Examples:

• TurboDebt: AADR, BBB accredited.
• New Era Debt Solutions: IAPDA certified.
• Consolidated Credit Counseling Services: NFCC, FCAA, CFC certified.
• Money Management International: FCAA, NFCC certified.

Important Tip: Verify the company’s certifications to ensure they follow best practices and industry regulations.

---

8. How long does the debt settlement process typically take?

The duration of the debt settlement process varies depending on the amount of debt, speed of negotiations and the repayment plan you go with, generally ranging from 12 to 48 months.

Timeframe Examples:

• Accredited Debt Relief: Advertises debt-free status in 24-48 months.
• TurboDebt: Time frame depends on individual debt amounts and negotiation outcomes.
• Freedom Debt Relief: Programs typically last between 24 to 60 months.

Factors Influencing Duration:

• Debt Amount: Larger debts may take longer to settle.
• Monthly Payments: Higher payments can shorten the settlement period.
• Negotiation Speed: Efficiency of negotiations with creditors affects timeframe.

Advice: Discuss expected timelines with the company during the free consultation phase to see if it fits your needs and requirements.

---

9. How does enrolling in a debt settlement program affect credit scores?

This is an important question! Although the effect won’t be as bad as if you file for bankruptcy, enrolling in a debt settlement program can negatively impact your credit score, especially in the short term. Why? Because the process often involves ceasing direct payments to creditors, leading to reported delinquencies.

Credit Impact Details:

• Short-Term Effects: Your credit score may drop due to missed payments and settled accounts, which negatively affects your credit report.
• Long-Term Effects: Once you settle your debts and restore your financial stability, your credit score can get better again.
• Alternatives: Debt management plans (DMPs) through organizations like ACCC may have a lesser impact on credit scores compared to settlement.

Recommendation: Weigh the immediate credit impact against the benefits of reducing and eliminating debt. Consult with a financial advisor or free credit counselor to understand the full implications.

---

10. How do I choose the right debt settlement company for my needs?

If you’re still hesitant and don’t know who to choose, consider the following factors when choosing a debt settlement company:

1. Reputation and Reviews: Look for companies with high average ratings and numerous positive reviews across multiple platforms.
2. Fees and Costs: Understand the fee structure and ensure it’s reasonable and transparent.
3. Minimum Debt Requirements: Choose a company that accepts your level of debt.
4. Certifications: Ensure the company holds relevant and reputable industry certifications.
5. Service Offerings: Select a company that offers services tailored to your specific financial situation.
6. Consultation Services: Consider companies that offer free initial consultations to assess your needs.
7. Customer Support: Evaluate the quality and accessibility of their customer service.
8. Transparency: The company should be clear about their processes, timelines, and potential impacts on your finances.

Also, whoever you choose to work with, make sure they are NOT part of this FTC database of companies that are NOT allowed to offer any debt relief services.

---

11. Are nonprofit debt counseling agencies a better option than for-profit debt settlement companies?

Not necessarily! Even nonprofits need to make money and will charge you at some point in the process. Nonprofit debt counseling agencies and for-profit debt settlement companies both offer similar services.

Amine Rahal
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.

 

Lauren Brown
Lauren has over 13 years of experience in wealth management and financial planning. She is a CFA charterholder and holds a Bachelor’s degree in Finance. Lauren has worked with several asset management firms, offering wealth advisory and portfolio management services to high-net-worth clients.

 

Understanding Predatory Lending & Interest Rate Caps in the U.S.

by Amine Rahal | Aug 30, 2024 | Debt Relief

In the U.S., interest rate caps—especially when it comes to protecting consumers from predatory lending—are largely regulated at the state level. This means that the maximum interest rates lenders can charge vary depending on which state you live in and the type of loan we’re taking out. Let’s break down how this works across different states.

What Qualifies as a “Predatory Loan”?

First, let’s compare a traditional loan you would get from a bank versus a “predatory loan” you would get from an alternative lender:

Essentially, a predatory loan is a type of loan that takes advantage of borrowers in vulnerable and dire financial situations. These loans often come with excessively high interest rates, hidden fees, or deceptive terms that make it difficult for borrowers to repay the loan.

Federal Protections

Before diving into state specifics, it’s worth noting that there is a federal cap in place for certain groups. The Military Lending Act (MLA) caps interest rates at 36% APR for active-duty service members and their dependents on most consumer loans. This law provides a strong layer of protection, but it only applies to military members. You can learn more about the MLA on the Consumer Financial Protection Bureau (CFPB) website.

State-Level Interest Rate Caps

Interest rate caps for everyone else are set by state laws, and these can vary widely:

1. California
   • Payday Loans: In California, payday lenders can charge up to $15 per $100 borrowed, which can equate to an APR of over 400% depending on the term of the loan.
   • Installment Loans: For loans over $2,500, there’s no cap on interest rates.
   • More Info: Check out California’s Department of Financial Protection and Innovation for detailed regulations.
2. Colorado
   • Payday Loans: Colorado has one of the stricter caps, limiting payday loan interest rates to 36% APR. This was implemented after voters approved a 2018 ballot measure to curb high-interest payday loans.
   • More Info: Visit the Colorado Attorney General’s Office for more details on payday loan regulations.
3. New York
   • All Loans: New York has a strict usury law that caps interest rates at 16% for most types of consumer loans. Charging above 25% is considered criminal usury.
   • More Info: For more on New York’s laws, the New York State Department of Financial Services is a good resource.
4. South Dakota
   • Payday Loans: Like Colorado, South Dakota caps payday loan rates at 36% APR. This cap was set after a successful 2016 ballot initiative aimed at protecting consumers from predatory lending practices.
   • More Info: Learn more on the South Dakota Division of Banking website.
5. Texas
   • Payday Loans: Texas doesn’t cap interest rates directly for payday loans, but it does regulate fees. This can still lead to APRs that exceed 400%, depending on the loan’s terms, which is extremely high.
   • More Info: The Texas Office of Consumer Credit Commissioner provides more information on lending laws in the state.
6. Illinois
   • All Loans: As of 2021, Illinois capped interest rates at 36% APR for all consumer loans, including payday loans, through the Predatory Loan Prevention Act.
   • More Info: Check out the Illinois Department of Financial and Professional Regulation for more on this.
7. Florida
   • Payday Loans: Florida caps payday loan fees, effectively limiting the APR to around 304% for a typical two-week payday loan.
   • More Info: Visit the Florida Office of Financial Regulation for details.
8. Utah
   • All Loans: Utah has no cap on interest rates, making it one of the most lender-friendly states in the U.S. This means payday lenders and other high-interest lenders can charge extremely high rates. Beware of Utah-based lenders.
   • More Info: For more, see the Utah Department of Financial Institutions.

Know Your Rights & Do Your Due Diligence

These state-specific laws are crucial because they determine how much protection you have against predatory lending practices. In states with strict caps like New York or Colorado, consumers are generally safer from exorbitant interest rates. But in states like Utah or Texas, the lack of caps means consumers need to be extra cautious when taking out loans.

Predatory loans have put many American consumers in dire financial situations, exacerbating their debt and pushing them into bankruptcies. If you are dealing with high debt and are struggling to pay your bills, consider debt settlement instead of requesting another loan which will most likely put you deeper into debt. 

Finding Out More

If you’re considering taking out a loan, it’s a good idea to first check what the interest rate caps are in your state. You can usually find this information through your state’s Department of Financial Services or a similar regulatory body. Additionally, the Consumer Financial Protection Bureau (CFPB) offers a wealth of resources on consumer rights and protections.

By understanding these caps, you can better protect yourself from predatory lending practices and make more informed financial decisions.

Oak View Law Group – Good for Debt Relief & Settlement? Read Our Review…

by Alex Demolitor | Jul 8, 2024 | Debt Relief

If debt problems are mounting and pressure from creditors has become overwhelming, seeking professional help can ease the burden. Instead of forging the difficult path alone, strategizing with experts reduces the economic and psychological strain.

But, is Oak View Law Group the right partner to get you out of debt?

About the Company

• URL: https://www.ovlg.com/
• Phone: 1-800-530-6854
• Email: clientintake@ovlg.com
• Company HQ: Auburn, CA
• Trustpilot Reviews: 4.4/5 stars (15 reviews)
• Google Reviews: 4.4/5 stars (12 reviews)
• Better Business Bureau (BBB) Reviews: 4.7/5 (12 reviews)

Pros and Cons

For a quick breakdown of how Oak View Law Group stacks up, please see the list below:

Pros:

• Has helped more than 6,700 clients become debt-free
• Its team of experts has experience across 15 segments of consumer law
• There is a “No-Questions-Asked Refund Policy”
• Oak View Law Group provides professional guidance and mentorship throughout the debt-relief process
• Oak View Law Group can often settle your debts at 40% to 60% of the outstanding balance
• There are services for auto, medical, and student loan debt
• Highly rated by clients

Cons:

• Fees are federally regulated but can be high in some cases

What is Oak View Law Group?

Helping more than 6,700 clients become debt-free, Oak View Law Group is a consumer law firm headquartered in California. It specializes in debt relief, debt consolidation, and bankruptcy services. The group helps clients save money, avoid lawsuits, and has a team of experts with experience across 15 segments of consumer law. Moreover, Oak View Law Group has a “No-Questions-Asked Refund Policy,” where your fees and trust account balance are reimbursed if you’re unsatisfied with the service.

Some of Oak View Law Group’s services include:

• Debt Consolidation
• Debt Settlement
• Chapter 7 Bankruptcy
• Chapter 13 Bankruptcy
• Payday Loan Consolidation
• Payday Loan Settlement

For more insights on the value of these services, the Federal Trade Commission (FTC) has a helpful guide on How To Get Out of Debt.

How Can Oak View Law Group Help Me?

Working with a credit professional is like having an experienced coach to draw up plays on your behalf. And like any sport, it allows for a clearer strategy to achieve the team’s goals.

Oak View Law Group provides professional guidance, mentorship, and develops an effective debt-relief strategy, similar to a licensed insolvency trustee (LIT). Our partner site has an extensive guide on The Benefits of a LIT, which can help you determine if a consumer proposal or bankruptcy is the best strategy. Some of the differences include:

1. You often forfeit more personal assets in bankruptcy
2. Bankruptcy has a greater impact on your credit score
3. An initial bankruptcy stays on your credit report for six years or more versus three years with a consumer proposal

For more information, please see our partner guide, What Is a Consumer Proposal in Canada and Who Is It For?

Similarly, Oak View Law Group provides parallel guidance to a LIT. By weighing the pros and cons of several scenarios, its team can help improve your financial health by achieving the following:

• Lower monthly payments and interest charges
• Devise a plan for manageable monthly payments
• Reduce or eliminate late fees
• Reduce or eliminate collection calls

What Is Oak View Law Group’s Settlement Program?

When working with Oak View Law Group, its team handles the day-to-day negotiations with creditors. For example, they manage creditor calls, negotiations, bill payments, and ensure you can enjoy your professional and personal lives with minimal disruption.

How Long Does It Take to Become Debt-Free?

Depending on the amount owed and your excess income, estimates can vary widely. In a nutshell: it often depends on how much funds you want to allocate to debt repayments.

For example, let’s say you have $10,000 in debt and Oak View Law Group negotiates a 50% settlement. You have to pay $5,000 and can choose a lump-sum payment or monthly installments.

The firm notes that “As per the industry trends and our experience, debt can be settled at 40% to 60%, but we always negotiate for the lowest settlement percentage possible to save more for our clients.”

Thus, if you can cut the collection amount in half by working Oak View Law Group, it should greatly enhance the speed at which you become debt-free.

What Does Oak View Law Group Charge In Fees?

Adhering to FTC guidelines, Oak View Law Group’s fees are outlined in the graphics below:

What Other Services Does Oak View Law Group Provide?

If you’re struggling with auto, medical, or student loan debt, Oak View Law Group can assist in these areas too.

• Regarding auto loans, the firm can help if the vehicle has been repossessed, sold, or is being processed by a third-party collection agency.
• For overdue medical bills, the firm notes that healthcare companies “do not provide settlement offers.” Consequently, Oak View Law Group can only help you negotiate a manageable repayment plan.
• Likewise, student loan companies do not provide settlement plans either, and Oak View Law Group can only help if the account has been transferred to collections.

How Do Clients Rate Oak View Law Group?

While the firm doesn’t have a lot of Google or Trustpilot reviews, the vast majority of clients were satisfied with Oak View Law Group’s services. Many cited efficient settlement procedures and noted how Oak View Law Group provided support and guidance throughout the process. A few of the testimonials read:

• Oak View Law Group was able to settle my huge payday loan debts. The staff were very helpful and understanding. I can’t believe how fast and easy they were able to settle my debt. Much respect to Oak View Law Group. Thank you for getting me out of debt.
• OVLG assisted me in resolving three payday loan debts. Mr Sanchez assured me that all debts would settled by the projected date and I would have access to himself, agents, and my account online. The process went just as planned, he communicated with me every step of the way and was patient to answer all my concerns. I would definitely return as well as recommend OVLG.
• I have worked with OVLG, specifically, Diego, and I cannot say enough good things that he and OVLG have done for me. They have helped me so much and are diligent, professional, and understanding. I am truly amazed at how quickly Diego replies.  Great company, great assistance. They truly give you hope.

As a result, not only does Oak View Law Group develop strategies for effective debt relief, but it also shows empathy when dealing with difficult situations.

Are We Believers In Oak View Law Group?

Because client testimonials are the best indicator of distinguished service, Oak View Law Group’s reviews speak for themselves. By providing guidance, mentorship, and working with clients every step of the way, the firm has developed a compassionate reputation.

Moreover, if Oak View Law Group can negotiate debt settlements at 40% to 60% of the outstanding balance, the cost savings can greatly outweigh the service fees. On top of that, the “No-Questions-Asked Refund Policy” adds further credibility and reduces your risk if you’re unhappy with the process.

All in all, there is a lot to like about Oak View Law Group, and if your debts have become unmanageable, it may be the right firm for you.

If you want to learn more, visit: https://www.ovlg.com/