Fast Debt Settlements is owned by National Debt Relief, LLC, which means they have the backing of one of the biggest debt management companies in the United States. Fast Debt Settlements are very well regarded in this industry and at the time of writing they have more than a decade of experience behind them, but how does their experience and the backing of their parent company translate in service terms?

In this Fast Debt Settlements review we find out. But before we cover the things that this company can offer you, let's get to know them a little better.

Fast Debt Settlements

About Fast Debt Settlements

There are a few things that concern us about Fast Debt Settlements. So, before we get into our review, let's get these things out of the way.

The Services

Fast Debt Settlements only deal with debt settlement, but it's done in a cheap and opaque way. It feels more like a Click Funnels page advertising a new fitness program or a “miracle” weight loss drug, in that it's all entered around big “Call Now” buttons and lacks any detailed or useless information.

They don't tell you how much they charge or what fees you can expect throughout the process. They expect you to call them, at which point that information will be divulged, but in an industry with hundreds of competing services, no customer has the time to phone every single one of them and needs the information displayed clearly and conveniently.

As it happens, we did go through this process, we did get the prices, and when we did we quickly realized why they were so reluctantly to show them. Read our Fast Debt Settlements review below to see this info for yourself.

The Website

Not only is the Fast Debt Settlements website more like an advertising funnel page, but it lacks some key characteristics that make us question its validity. For one thing, it has no SSL certificate, even though it openly requests some personal information from users. All sites worth their salt have an SSL these days, and it's a big no-no for a site that processes customer data and offers a paid service not to have one.

Maybe that will change, but this review was last updated at the end of 2018 and that certificate was still nowhere to be seen.

Our Review of Fast Debt Settlements

Now that you know who Fast Debt Settlements are, it's time to see what they can do for you. Our team of researchers took a close look at this company and the review that follows is what they came up with.

The Good

Fast Debt Settlement (FDS) offers a free consultation to anyone looking to see where their services are for them. You just need to call them direct or arrange for them to call you back at a time that suits you.

Fast Debt Settlements is strictly a settlement company. They do not offer debt management plans or consolidation loans, and if they determine that one of these options is better suited to your needs then they will refer you to a different company.

Fast Debt Settlements acts in accordance with the Federal Trade Commission in that they have a pricing structure based on a performance-based fee model. In other words, they do not charge anything until the debt has been settled, at which point they take a share of the money they were able to save. They state that they aim to get customers out of debt in 24 – 48 months, which is the standard length of time for such programs.

Unfortunately, our team of researchers was quoted high prices in comparison to industry averages. They also required us to establish escrow accounts and other services that brought the cost to an additional $9 a month. Although this is far from a huge sum of money, it's not a welcome sum when the other fees are also higher.

There will be a monthly predetermined amount that will be placed into the escrow account so that the negotiators can accumulate the leverage necessary to negotiate down creditor debt. All company and account fees are combined into a single payment the client pays into the special account.

After the negotiation phase, clients must agree upon a settlement amount where the finds will split between the creditor and FDS. FDS has a membership with the International Association of Professional Debt Arbitrators (IAPDA), showing that they are motivated to practice responsible business standards.

Fast Debt Settlements Review

Pros include:

  • They provide a free consultation with genuinely helpful advice.
  • They claim to settle over $10 million monthly.
  • They are compliant with FTC rules.
  • They have IAPDA membership.

The Bad

Our team of researchers had a few concerns with Fast Debt Settlements, the main ones of which was the pricing. When we called, we were quoted $400 for 36 months on $20,000 of unsecured debt. When we did the math, that totals out to $14,400 overall and is 72% of the total debt resolved.

To say the least, this was higher than we were expecting and there are plenty of other companies who offer the same plan at a fraction of the cost. We were also concerned with the lack of transparency and with the website in general, as discussed in out About Fast Debt Settlements section. We were unable to find any additional information on the company like how they came to be or what clients can expect from the experience.

Also, things like where the company is located, their mailing address, or email was nowhere to be found. On the other hand, it is worth noting that the company promotes their services (along with high prices) with examples on their website. FDS does little to offer educational resources for their clients and this info isn't all that bad, but it's also far from the best we have seen. It is always a plus when a company goes out of their way to provide the means to help people get and stay of out debt for life.

The Bottom Line

Fast Debt Settlements is owned by National Debt Relief, which is a very good sign. They also hold an accreditation from the IAPDA. However, this is about where the benefits end.

They only offer debt settlement, they charge a higher price than most of their competitors, and they do little to educate customers on what good financial practice is. Fast Debt Settlements lack in transparency and focus on online marketing tactics to distract potential customers. For these reasons, we do not recommend using them at this time.

Instead, trying some of the higher rated debt settlement companies that we have covered in the past, including DMB Financial and New Era Debt Relief, both of which also provide debt settlement but do so with fewer flaws and far better prices.