If you’re behind in your credit card bills and have no hope of paying them off by yourself, it’s time to face up: you need help to stave off bankruptcy and world of financial hurt. You may be a good candidate for debt relief, which allows you to “settle” your obligations by paying just a portion of what you owe, once and for all. But you need a good company to help you pull that off. Accredited Debt Relief may be such a company, but let’s look further.
Here, we’ll check out an Accredited Debt Relief Review – and more.
What Kind of Strategy is Debt Relief?
As we say, it’s when you hire a company such as Accredited Debt Relief to ultimately go to your creditors to see whether they’d be open to allowing you to make a one-time payment in full of less than what you owe to clear your debt. Yes, you read that right. The thing is, creditors typically go along because they would rather get something than nothing, which is likely what they’d get should you file bankruptcy – your probable Plan B.
How Does Debt Relief Work?
After an initial free consultation, you and Accredited will put together a payment plan. Following that, you’ll establish a savings-type account in which you’ll make monthly payments. The amount you’ll save depends on your income and debt size. When you’ve hit the mark, accredited negotiators will begin negotiations with each of your creditors on your behalf, using your account as a selling point. Once each debt is settled and approved by you, payment will come from your account.
For more insight on how the company handles the debt relief process, check out this Accredited Debt Relief review.
Is That Damaging to My Credit?
Because the process of debt relief calls for you to pay your creditors indirectly, and at length, your scores will temporarily drop. Once you’re done with your program and your debts are settled, and you start rebuilding your credit, your scores will certainly improve. And not to be a drag, but aren’t your scores already depressed?
How Long Will the Process Take?
With Accredited, anywhere from 12 to 48 months, although your first settlement could occur within months. The company can lower the amount of debt you owe by up to half.
What Kind of Debt is accepted for Relief?
Most kinds of unsecured debt, meaning obligations that aren’t tied to collateral. In addition to credit cards, commonly settled debts include medical bills and personal loans. For Accredited, you’ll need at least $10,000 worth of past-due obligations.
What Do Others Say About Accredited?
Since 2011, San Diego-based Accredited has had more than $3.5 billion in debt enrolled in its program and has more than 140,000 active clients.
The publication SFGate has listed the company as one of the top debt settlement firms of this year. The BBB (Better Business Bureau) affirms that by giving the company an A+ rating.
And here are a couple of verified customer testimonials:
- From 1/12/21: “The process was quick, and my representative was awesome to work with. He made sure that my husband and I understood the process.”
- From 12/8/20: “My representatives were extremely kind and helpful. Me needs were met in one phone call. I would highly recommend Accredited Debt Relief’s services to anyone in need of help with debt.”
Now that you’ve seen some Accredited Debt Relief reviews, you know that the company is legit, established and has a good rep. Debt relief is a proven strategy that has helped scores of people like you back on their feet. Examine your situation closely to see if that approach would work for you. If it does, Accredited can help.