National Debt Relief is an accredited organization debt settlement company based in New York. The company specializes in providing debt settlement services to consumers. It was founded in 2008 and is now one of the largest debt settlement companies in the country.
National Debt Relief provides debt settlement services, which can help you eliminate your debt by allowing you to pay less than you owe. Debt settlement is not an ideal solution but often a last resort for those who have exhausted all other options and want to avoid bankruptcy. Also, scams can happen in debt settlement, so it’s good to be skeptical.
National Debt Relief is a legitimate debt settlement company. It has a team of debt arbitrators certified by the International Association of Professional Debt Arbitrators. National Debt Relief is also a member of the American Fair Credit Council, whose members agree to follow an industry code of conduct.
Here are some important features of National Debt Relief services:
- You can join the program through a simple telephone registration.
- Debt of at least $7,500 is required to register.
- Some debts are not eligible for settlement.
- Settlement fees vary from 15% to 25% of the total registered debt.
Is National Debt Relief Ruining Your Credit?
Every time you choose to settle your debts, your credit score will take a serious hit. This is because even though National Debt Relief works with your creditors to settle the debt on your behalf, you will not make any payment. Missing payments negatively impact your credit report. However, the goal is to free you from your debts and settle all your accounts. So, once this process is complete, you can begin to restore and rebuild your credit.
On average, clients graduate from the program in 24 to 48 months, although this varies depending on individual financial circumstances.
National Debt Relief helps people settle all kinds of debt, including:
- Major credit card bills
- Department store card bills
- Gas card bills
- bank loans
- Installment loans
- Unsecured Personal Loans
- Trade debts
- Unpaid cell phone bills
- Veterinary bills
- Abandoned timeshare
- Return of rent
- Judgments six months or more old
National Debt Relief does not provide settlement services for mortgages, car loans, child support, back taxes, speeding tickets and court fines, gambling debts, insufficient funds, car repair bills, lease-to-own bills, surety bonds, checks -cash for company loans, insurance policies or warranty contracts. Private and federal student loans are settled on a case-by-case basis.
National Debt Relief charges a fee of 15% to 25% of the total debt you enroll in the program. The fees you pay depend on the state you live in and the amount of debt.
You must have at least $7,500 in debt and several months in arrears. You must also demonstrate financial hardship and be able to make a monthly payment to a fund used to settle your debts.
On average, National Debt Relief clients are between $25,000 and $30,000 in debt and have between five and seven accounts. Once registered, negotiators contact creditors to begin making settlements for less than the client owes. Once a settlement is reached, payments are made to the creditor and National Debt Relief moves on to the next account until all of the client’s eligible debts have been settled.
National Debt Relief has an A+ rating with the Better Business Bureau.
Once registered by phone, you can manage your account online. This includes viewing payout distributions and program debt balances. An online portal lets customers know where their payments are going and how fast they are progressing in paying off their debts. However, National Debt Relief is also available over the phone for those who prefer this option.