Debt Relief Network was founded in 2001 out of San Diego. They offer multiple services such as bankruptcy help, credit repair, consolidation, debt management, student loan consolidation, tax relief, and debt settlement. Note that our team of researchers has reason to believe that this company is no longer operating at this time.
Debt Relief Network claims to offer solutions for people who are negatively affected by economic debt. Although we found
some positive qualities about the company, we cannot say for certain if the company is still in service. Some of the positives about the company start with their pricing. Debt Relief Network has a flat-rate of 20% of the total amount of debt enrolled. Clients are also offered a free consultation where a consultant would assess their financial situation and determine if the client would qualify for the program. If the client qualifies, the next step in the program is to set up a trust account with Global Client Solutions where a predetermined amount will be saved to be deposited into an escrow account. Once a sufficient amount of funds are built, the negotiation process will commence. Once the settled amount is agreed upon, the funds from the escrow account will be transferred to each creditor. Last, payment to Debt Relief Network will be allocated from the trust funds. Clients are able to cancel at any time without incurring any penalties. The company requires a minimum of $5,000 in unsecured debt from sources such as credit cards, department store cards, medical bills, repossessions, and other types of unsecured debt to qualify for their services.
Pros for this company include:
- Low minimum debt of $5,000
- Money-back guarantee
- 14 years in business
The contact number given on the site is no longer in service. This is obviously a big concern. We are led to believe that the company is no longer in service. For clients looking to settle their debts, it is worth noting that certain risks are associated with the process. Individuals risk taking hit to their credit score and the possibility of litigation in the case of debts taking too long to be resolved.
The Bottom Line
Debt Relief Network has been in business for over 14 years, but we have reason to believe that they are no longer in business. There is a small chance that the company is dealing with lawsuits and for the time being, they put their services on hiatus. Reviews online have also indicated that the company does not much to leave their clients satisfied. We recommend researching other companies on our list.