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by Amine Rahal | Jan 5, 2025 | Debt Relief
Wondering if Take Charge America is a good option for debt settlement or debt relief? In this review of the company, we’ll look at their reviews and ratings from across the web, and we’ll break down their services when it comes to managing and decreasing debt.
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Who is Take Charge America?
Take Charge America (TCA) is a nonprofit credit counseling agency that provides debt management, financial education, and housing counseling services. Founded in 1987, TCA has helped thousands of individuals regain financial stability through structured debt relief programs and personalized financial counseling.
- Headquarters: Phoenix, Arizona
- States Covered: Nationwide (Available in most U.S. states)
- Founded in: 1987
- Website: www.takechargeamerica.org
- Phone: 1-866-750-9634
Services Offered:
- Free Credit Counseling
- Debt Management Plans (DMPs)
- Budget Planning & Financial Education
- Housing Counseling (HUD-approved)
- Student Loan Counseling
- Bankruptcy Counseling
February 2025 Update: As per a recent press release, Take Charge America has expanded its free housing counseling and mortgage assistance services to California, thanks to a $250,500 grant from the California Housing Finance Agency (CalHFA). This initiative allows the nonprofit agency to provide confidential support to homeowners and renters struggling with delinquency, foreclosure risk, or navigating the homebuying process. The services include rental and mortgage delinquency assistance, reverse mortgage counseling, pre-purchase and post-purchase guidance, and rental counseling for first-time or low-income renters. As a nonprofit, Take Charge America remains committed to offering free, unbiased advice tailored to each client’s financial situation. Residents can schedule a virtual appointment by visiting TakeChargeAmerica.org or calling (866) 987-2008.
Minimum Requirements to Qualify:
- Minimum Debt: No strict minimum, but best suited for those with $5,000+ in unsecured debt
- Income Minimum: Must have verifiable income to support a repayment plan
Take Charge America Ratings & Reviews:
Take Charge America is known for its commitment to consumer financial education, transparent practices, and effective debt relief solutions. Here’s how they are rated across major platforms:
- BBB Rating: A+ (Accredited Business)
- BBB Reviews: 4.7/5 Stars
- Trustpilot: 4.8/5 Stars
- Google Reviews: 4.6/5 Stars
- Consumer Affairs: 4.5/5 Stars
- Investopedia Rating: 4.3/5 Stars
- Accreditations: Member of the National Foundation for Credit Counseling (NFCC), HUD-approved housing counseling agency
Key Features & Benefits:
1. Free Credit Counseling
Take Charge America provides a free, confidential financial review to help clients explore available debt relief options and develop a customized financial plan.
2. Debt Management Plans (DMPs)
- TCA works with creditors to reduce interest rates and eliminate late fees.
- Clients make one consolidated monthly payment to TCA, which is then distributed to creditors.
- Most DMPs last 36 to 60 months, depending on the debt amount.
3. Nonprofit & Transparent Fee Structure
- As a nonprofit agency, TCA offers low-cost solutions with fees regulated by state laws.
- Fees typically range from $0 to $50 for enrollment and $25 to $75 monthly.
4. Housing & Bankruptcy Counseling
- Provides HUD-approved housing counseling for mortgage assistance and foreclosure prevention.
- Offers pre-bankruptcy counseling and debtor education, as required by federal law.
5. Financial Education & Resources
- Free online courses, budgeting guides, and financial tools.
- Personalized coaching to help clients develop better financial habits and avoid future debt.
Limitations & Considerations:
While Take Charge America has many benefits, here are some potential downsides:
- Debt management plans require consistent payments – If you miss a payment, you may lose program benefits.
- Not all debts qualify – Secured debts like mortgages and auto loans are not eligible.
- State restrictions apply – Some services may not be available in all states.
Customer Support Review:
Take Charge America receives high marks for customer service and program transparency. Many clients praise the easy enrollment process and supportive financial counselors.
Here’s what a customer named Jessica had to say:
“Take Charge America helped me lower my credit card interest rates and develop a realistic repayment plan. Their team was professional, patient, and always available to answer my questions. I highly recommend them!”
Frequently Asked Questions (FAQ)
1. What types of debt does Take Charge America handle? TCA specializes in unsecured debts, such as credit card debt, medical bills, personal loans, and collections. They do not handle secured debts like auto loans or mortgages.
2. How does Take Charge America’s debt management plan work? A DMP consolidates all your eligible debts into one monthly payment. TCA negotiates with creditors to lower interest rates and waive fees, helping you pay off debt faster.
3. Are there any upfront fees? TCA’s fees vary by state, but they do not charge high upfront fees like for-profit debt relief companies. Many clients qualify for low-cost or waived fees.
4. Will using a debt management plan affect my credit score? DMPs may initially impact your credit score, but as you make consistent payments and reduce your debt, your score is likely to improve over time.
5. How long does a debt management plan take? Most DMPs take 3 to 5 years to complete, depending on the amount of debt enrolled.
6. Is Take Charge America available in all U.S. states? TCA operates in most states, but some services may not be available in all locations. Check their website or call for details.
7. Does Take Charge America offer student loan assistance? Yes, TCA provides guidance on student loan repayment options but does not offer direct consolidation services.
8. What qualifications do I need to enroll in a debt management plan? You must have verifiable income to ensure you can make consistent monthly payments.
9. What should I expect during the free consultation? During the consultation, a financial counselor will review your debt situation, discuss repayment strategies, and outline your best options.
10. How do I get started with Take Charge America? Visit www.takechargeamerica.org or call 1-866-750-9634 for a free consultation.
Final Thoughts: Is Take Charge America Right for You?
Take Charge America is a trusted nonprofit credit counseling agency that provides debt management plans, financial education, and personalized counseling. Their low fees, nonprofit status, and strong industry reputation make them an excellent choice for individuals struggling with credit card debt and looking for a structured path to financial stability.
If you’re seeking a reputable debt management program, Take Charge America is a solid option.
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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:
| Feature |
Traditional Bank Loan |
Predatory Loan |
| Interest Rate |
Low to moderate (typically 3% to 12% APR) |
Very high (can exceed 50% APR, sometimes 300%+) |
| Loan Terms |
Fixed terms (usually 1 to 30 years) |
Short terms (often 2 weeks to a few months) |
| Repayment Structure |
Monthly payments, often with amortization |
Lump-sum payment or frequent, high payments |
| Fees and Charges |
Transparent, disclosed upfront |
Hidden fees, high fees, or penalties |
| Borrower Qualification |
Strict requirements (credit score, income, etc.) |
Minimal qualification (often no credit check at all) |
| Regulatory Oversight |
Highly regulated by federal and state laws |
Often operates in regulatory gray areas |
| Purpose of Loan |
Typically for major purchases (homes, cars, education) |
Often for emergency or short-term needs |
| Impact on Credit Score |
Positive impact if paid on time, reported to credit bureaus |
Negative impact, often not reported positively to credit bureaus |
| Borrower Rights |
Strong consumer protections, recourse available |
Limited recourse, predatory practices common |
| Rollover/Renewal |
Generally not allowed or unnecessary |
Frequent rollovers, trapping borrowers in cycles |
| Lender’s Intent |
Long-term relationship, repayment is expected |
Profit from borrower’s inability to repay on time |
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:
- 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.
- Colorado
- 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.
- 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.
- 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.
- Illinois
- Florida
- 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.
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:
- You often forfeit more personal assets in bankruptcy
- Bankruptcy has a greater impact on your credit score
- 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/
