Debt Free League is a debt settlement company that was founded by Victor Chevalier back in 2006 and has helped many Americans reach financial freedom in the years since. In this guide we'll take a closer look at their services, prices and history, before going into more detail with our Debt Free League review.
About Debt Free League
Debt Free League provide debt settlement and debt validation services that can be used as a better alternative to bankruptcy, among other things. There are risks associated with debt settlement, but the same could be said for many types of debt relief and in most cases the risks are nowhere near as detrimental as bankruptcy.
As discussed in more detail in our Debt Free League review, we're not sure if this company is active or not. They certainly were active for a at least a decade, but after that they seem to have gone quiet. Make sure you read “The Bad” part of our review for more information. We have continued to study their services just incase they are active or are only temporarily down, but this is worth noting for any prospective customers.
*If you happen to work for Debt Free League and you're reading this review, please contact us for clarity in this regard. We've tried contacting you and haven't been successful, but we would appreciate some closure on this issue, as well as any reasoning you can provide if indeed you have shut down.
Debt Free League doesn’t provide a clear outline of their fees, but they state that clients can save 50% of the total amount of debt enrolled. This isn't all that helpful, as the fees will then be applied and can severely impact on those savings, but from what we have gathered after speaking with the company and their customers, the average fees are 25%.
We discuss these in more detail in our review below.
Our Debt Free League Review
Our researchers have spent some time on the Debt Free League website and have spoken with employees and customers. The information they gathered was analyzed and used to create the following Debt Free League review.
Debt Free League settles debt by negotiating with the creditors on the client’s behalf. They approach the creditors to basically tell them that the full debt probably won't be paid, but they can accept a cash offer to clear it right away. In most cases, the creditor will happily accept the payment, ending the debt, avoiding costly and timely litigation, and putting a big tick next to that account.
The 50% debt reduction is good, but the 25% fee is a little high, as mentioned in our About Debt Free League section above. They aim to settle debts within 48 months, and claim that many debts will be settled with 12 to 24 hours. This is a bold claim, but an understandable one, because there is a high chance of litigation after that 4 year period. In fact, the risk of litigation increases significantly for every year after the first one, which is why it is important for this process to be finalized as quickly as possible.
It is also worth noting that the longer the process takes, the more interest will accrue and the more complicated the process will be. Creditors do not pause all accounts just because debt settlement begins, as far as they are concerned, until the debt is paid in full or finalized following an agreement then money is still owed and interest will still increase.
Finally, another positive worth noting is the fact that Debt Free League lists creditor information on their website, including contact numbers and other essential info. You will find creditors like Citibank, American Express, Nationwide Credit Corp and CitiFinancial, as well as a host of credit unions, credit card providers, and other creditors. We have reviewed many companies that seriously lack additional resources (the most notable of these was Just Us Debt, but there have been many more) so it's nice to see a company that goes above and beyond.
Pros for this company include:
- They provide a free consultation
- There is a low minimum enrollment
- They have contact details of creditors
The biggest problem we ran into with Debt Free League is the fact that they have been difficult to get a hold of, so much so that we're not even sure if they are still operating. We have had similar issues in the past with companies like Superior Debt Relief, but in those cases we were able to get a response (in the case of Superior Debt Relief, we sent an emil enquiring about their availability and got a response within seconds) and that just isn't the case here. At worst, it means they are no longer active; at best it means they are, and are just not very attentive.
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 an outdated blog–another thing that makes us wonder if they are still active or if they have gone under.
The Bottom Line
We are not at all sure if Debt Free League are active and that has been the case since this review was first published in late 2017. As our regular readers know, we update all reviews on a regular basis and have been checking in with Debt Free League ever since, but at the time of the most recent update (late 2018) we still haven't received confirmation.
We're going to go out on a limb and say they are not active, but maybe they are just suspending operations temporarily, who knows.