Debt Free League was started by Victor Chevalier and provides clients what a settlement service as an alternative to bankruptcy.
This company settles debt just as any other settlement company does by negotiating with the creditors on the client’s behalf. The company doesn’t provide a clear outline of their fee structure on their website, but they do state clients may be able to save 50% of the total amount of debt enrolled before company fees are assessed. After fees, the company claims that clients will see a 75% reduction overall. This leaves us to believe that their fees are based on a 25% model. The claim to settle debts under a judgment is a courageous one because these are court enforced documents. This method creates a point of entry for banks accounts or paychecks to be garnished. Once this process goes through, it becomes more difficult to settle debt because creditors already have access to your funds via your bank account and check.
The company aims to settle debts in 12 to 48 months, which turns out to be fairly reasonable compared to much of the competition. It is worth noting that anything that takes longer than 48 months is subject to litigation and a continuance of interest accrual on each creditor account. We are pleased with the fact that this company lists many of the nation’s top creditor information on their website. Creditors like Citibank, American Express, Nationwide Credit Corp, CitiFinancial, among plenty of other financial institutions, credit unions, mortgage companies and department stores.
Pros for this company include:
- Free consultation
- Low minimum enrollment
- Hundreds of creditor contact information
The biggest problem we ran into with this company is that we are simply not sure if they are still operating for we have not been able to get a hold of them or have had any return calls from them. What's more, the company lacks greatly in transparency and in accreditations with the AFCC and IAPDA. They also do not provide many resources for consumers apart from a blog, which we found to be extremely outdated with the last posted dating from 2012.
The Bottom Line
The most important part to take away from this review is that we are not sure if this company is still in service. Therefore, we recommend several other companies on our list as this company lacks most parts any other credible settlement company would have. We would suggest looking at the top recommended companies on this site.