Armada Debt Solutions is a debt consolidation and credit repair service located in Irvine, California. They offer consolidation through settlement to help consumers tied down by unsecured debt find their way to financial relief. Individuals interested in enrolling with Armada can call for a free consultation to see if they fit their needs. However, the company is lacking in important industry accreditations.

The Good

  • Free Consultation
  • $3,000 minimum debt
  • Personalized services

Free Consultation

Armada offers a free consultation for anyone looking to find their way to economic freedom. The consultation will start with a complete financial analysis by a representative to evaluate your current debt situation. Programs at Armada work by lowering finance charges, consolidating bills into a single payment, and settling debts by up to 50% of what is currently owed.

Low Minimum Debt

To enroll in the program at Armada, clients must have a minimum of $3,000 of unsecured debt, which is lower than the industry average of $7,500. Clients are required to have a bank account set up with a third-party FDIC insured bank called Global Client Solutions. It is here that finds will be transferred from Global Client Solutions from a personal bank account to the secured trust account. It should be noted that fees are associated with holding an account at this third-party bank (which are non-refundable). Due to the fact that this company operates on a performance-based fee model, clients will pay Armada nothing unless a creditor debt has been successfully negotiated and settled to the satisfaction of their client.

Personalized Services

Once it is determined if you qualify for the program, each client will be assigned a personalized account manager to overlook the account. This manager will be the main point of contact for the client for the entire process. This definitely strengthens the relationship between client and business. View Top Rated Companies

The Bad

  • Lack of transparency
  • No credit counseling
  • No industry accreditations

Lack of Transparency

There are concerns with the company’s lack of transparency. Although past customers have stated that the company does a good job at being up-front concerning all company aspects, including fees during enrollment, we would like to see the website disclose information like up-front fees, monthly fees, and average interest rates. This makes it hard for potential clients to decipher if this company fit their financial needs, and it also makes it difficult for our team of reviewers to rank their services.

Debt Settlement

Armada seems to offer settlement services rather than a consolidation plan with credit counseling. Each page on Armada’s website outlines how they can settle debts, rather than provide a plan for consumers to repay 100% of their debt. Several debt companies go above and beyond by offering credit counseling to help educate the consumer, but Armada lacks this feature because they seem to be more of a debt settlement company.

Lacking Accreditations

Although it is not required for consolidation companies to provide financial education, we sure like to see it. It shows a willingness by the company to do better for the population and make a lasting difference in people’s lives. On top of this, we see a complete lack of accreditations, which is a major drawback for the company.

The Bottom Line

Armada Debt Solutions offers personalized service, and have a low debt requirement. On the other hand, Armada lacks credit counseling of credit counseling and accreditations. For this reason, we suggest using a specialized debt consolidation company for your needs. We recommend looking at our top recommended companies for your needs.

 

About Armada Debt Solutions

Armada Debt Solutions is a full-service debt consolidation and credit repair company that offers consolidation through debt settlement. Armada Debt Solutions does not offer your typical debt consolidation service. Rather, it offers customers the ability to have the company negotiate with creditors for a debt settlement.In the end, the settlement amount is usually lower than the actual amount a customer owes to the creditors. Armada Debt Solutions does not offer any financial education resources or credit counseling services.