Fast Debt Settlements is owned by National Debt Relief, LLC. They are well recognized in the debt industry with over 9 years of experience.
Fast Debt Settlement (FDS) offers a free consultation to those who want to inquire about the company’s services to help determine if they would be a right fit for their needs. FDS is strictly a settlement company, therefore if there is anything they can’t handle, they will refer you to another company that can. This company acts in accordance with the Federal Trade Commission with a pricing structure based on a performance-based fee model. The company states that they aim to get customers out of debt in 24 – 48 months with their payment program.
Unfortunately, our team of researchers was quoted high prices in comparison to industry averages. The program at FDS entails customers setting up a FDIC insured escrow account with Global Client Solutions or National Legal Law, both of which charge a $9 monthly fee. 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 makes to pay for 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.
- Free Consultation
- Claims over $10 million resolved monthly
- FTC Compliant
- IAPDA membership
Our team of researchers had a few concerns, including the pricing at Fast Debt Settlements. 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. 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 of their website. FDS does little to offer educational resources for their clients and curious individuals alike to help them sharpen their financial fitness. 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. Additionally, services are not available in OH.
The Bottom Line
Fast Debt Settlement is own by National Debt Relief. They hold an accreditation from the IAPDA, and they exclusively deal with debt settlement. They charge a higher price tag than most of their competition, and they do little to educate customers on what good financial hygiene is. Fast Debt Settlement lacks in transparency and focuses on bright marketing tactics to distract the client. For these reasons, we do not recommend using them at this time and doing research into some of our top recommended settlement companies.