Accredited Debt Relief 2019 Review
Since 2008, Accredited Debt Relief's professional debt consultants have assisted their clients in settling unsecured debts, which includes credit card and medical care debt.
Accredited Debt Relief is A+ accredited by the Better Business Bureau (the highest ranking possible), and their service providers have a combined 20+ years of experience in the debt relief industry.
Choosing Accredited Debt Relief as your debt settlement solution can prevent you from having a bankruptcy listed on your credit report (which would last for 7-10 years) and help you keep your car, home, and other important possessions.
Accredited Debt Relief is powered by Beyond Finance, an industry leading debt resolution company that leverages advanced technology and innovative debt reduction programs to help clients resolve their debt in 12 - 48 months.
Accredited Debt Relief can help reduce pesky collection calls as well as set up a central settlement account to help with debt reduction negotiations.
Accredited Debt Relief Pros
- Top industry accreditations: Accredited Debt Relief is accredited by the AFCC (American Fair Credit Council), IAPDA (International Association of Professional Debt Arbitrators), and San Diego Regional Chamber of Commerce.
- Very positive customer reviews: Accredited Debt Relief currently has over 1000 Great and Excellent rated reviews on Trustpilot (an independent review site), which is 97%+ of their total user reviews.
- High transparency: The website includes detailed information on FTC guidelines for debt settlement companies.
- Reasonable fees that are also industry standard: Fees are around 15 - 25%. Depending on the state, they charge 4 - 8% annually of the total debt enrolled and spread out the fees over the course of the program.
- No risk guarantee: This ensures you do not pay until the debts have been settled.
- 100% free initial no-obligation consultation: Simply fill out a form on their website to find how out much you could reduce your credit card debts.
- Personalized experience: Clients are provided with one representative through the debt settlement process.
- Works with largest industry leaders: Accredited Debt Relief has successfully negotiated with these credit card companies: Bank of America, Wells Fargo, Chase, CapitalOne, Citibank, American Express, Sears, USAA, The Home Depot, US Bank, HSBC, GE Capital, Barclays, and OneMain Financial.
- Positive customer service reviews: Past customers praised the representatives on their assistance. Many stated that they felt comfortable with the reps.
- Track your progress: Their personalized online dashboard allows you to check personal progress in real time.
- They accept a minimum $7,500 of unsecured debt. This is significantly lower than the industry standard minimum, which is typically $15,000 for companies like Freedom Debt Relief.
- Experienced Providers: Accredited Debt Relief's partners have over 20 years of experience.
- Endorsed by Kevin Harrington of Shark Tank
- Charitable causes: In addition to providing debt consolidation services, Accredited Debt Relief donates money to charities such as St. Jude Children's Research Hospital, the Wounded Warrior Project, the Salvation Army, Susan G. Komen for the Cure, and Father Joe’s Villages.
Accredited Debt Relief Cons
- Accredited Debt Relief only serves clients in 36 states.
- Debt settlement has a risk of negatively affecting credit, which can limit access to future loans and credit lines.
- When Accredited Debt Relief is negotiating a settlement, you must stop paying any outstanding balances. This can cause even more debt due to the added interest and fees, and even result in being sued or having overdue accounts to be sent to collections.
- Any forgiven debt is taxable income by the IRS, so you may end up owing more in taxes. However, you can apply for an exemption with Form 982.
Accredited Debt Relief Pricing
According to the company, the minimum debt required is $7,500 and the debt reduction fees range from 15 - 25% of enrolled debt (depending on the state).
You can sign up online for free by filling out personal and financial information. You will then receive a quote from Accredited Debt Relief on the pricing and services.
Once enrolled, you are advised to keep one low balance credit card in case of an emergency, but you will not have access to any other lines of credit.
You make monthly payments into your savings account during negotiations and creditors are paid off with the lump sum from this account. If you make those monthly payments you pay around 50% of your total enrolled debt before fees, before then paying 68 - 75% over a course of 2 to 4 years.
Accredited Debt Relief has a no risk guarantee, which is in compliance with FTC regulations that state they cannot charge fees until a settlement agreement is reached. Their teams have negotiated with credit card companies and financial institutions such as Bank of America, Chase, Capital One, and Wells Fargo.
Summary
Accredited Debt Relief is a highly accredited service (with accreditations by the AFCC, IAPDA, and San Diego Regional Chamber of Commerce) that provides you with a free consultation, highly trained representatives, a personalized online dashboard, and online transparency.
With their industry standard fees of 15-25% of enrolled debt, it is worth checking to see if you are eligible for Accredited Debt Relief's services in your state.
Frequently Asked Questions
What is the minimum debt needed to enroll into Accredited Debt Relief's programs?
The minimum unsecured debt needed to enroll with Accredited Debt Relief is $7,500.
What are the Accredited Debt Relief's fees for debt reduction services?
Debt reduction fees range from 15% to 25%.
How soon does Accredited Debt Relief start working with creditors?
On average, 1 to 2 weeks after you’ve signed up for the program. The initial calls will let creditors know that you are entering into a partnership to reduce your debt and also let them know to call Accredited Debt Relief instead of you.
The first settlement usually happens within the first 6 to 9 months of the program. It's also noted that fresh start clients typically see settlements happening faster because they aren’t paying fees until the settlement is negotiated.
What happens if I miss a monthly payment?
In the case you have a financial emergency and cannot make your monthly payment, you should contact Accredited Debt Relief about the situation at least 5 business days ahead of the payment due date. You will not be kicked out of the program, and Accredited Debt Relief will work with you to get you back on track. However, missing payments will delay your debt relief program and could affect possible settlements.
What happens if my creditors try to sue me?
In this case, Accredited Debt Relief might move this account to their priority list. It is also noted that in their experience many lawsuits are never actually filed - they are just wanting a settlement. However, if a lawsuit is filed against you, Accredited Debt Relief can attempt to resolve the account by setting up a specific payment plan.
Reviews for Accredited Debt Relief
Why leave a review about the service here?
Your reviews are a valuable source of insight for us to improve our service as well as improve the offerings. All pros and cons submitted here are evaluated and are responded. We also share these insights with our partners so that they could improve their offerings as well.
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6 Accredited Debt Relief Consumer Reviews and Complaints
Shelley, on July 10, 2019
I was very hesitant and had explored other options including reverse mortgage, bankruptcy, and selling our home, to satisfy our heavy debt. I was fortunate enough to listen to Gustavo Romero as he patiently told me about this program. What a relief to not have to lose our home or give up equity. I am hopeful this way will be a good way to get us out of debt and back on track to enjoying our retirement. Thanks Gustavo.
Eugenia H, on June 20, 2019
It took a lot to pick up the phone and call and ask for help. I was fortunate to have Justin on the other end of the phone. He took me through the process, no hard sell. He left the entire thing up to me, provided any information he had, stupid question or not. Instead of being embarrassed I felt empowered. I see a bright light at the end of not so long a tunnel and I can’t say enough about the process and Justin.
Lisa H, on August 04, 2019
Professional, thorough care. Erica was very helpful in getting me approved and enrolled in the debt management program. I was very nervous, and was hesitant to give up control of my credit situation. But once we did the math, it was easy to see that ADR is the best route for me to take. Thanks for making a hard decision more palatable.
Rodney L, on June 29, 2019
I like the way they explain everything. You can ask as many questions as you need to understand it and they don't get upset or down you for it. Also very understanding of your situation and how you got to this point. I would recommend this company to everyone who wants to get out of debt.
Esther, on June 22, 2019
The process was explained to me in detail and my representative was very friendly and helpful. I would recommend their services to anyone in need of debt relief and assistance.
Shannon C, on July 01, 2019
Shannon has done an outstanding job informing me about the service you offer. Very helpful in helping me understand the process and program I am now a part of. She has patiently answered my many questions regarding the program and helped me make a proper judgment on how to better my financial situation. Absolutely pleased working with her and am very grateful to finally get a break from working so hard to make minimal progress on reducing my debt. Looking forward to working with you guys on resolving my debt!