National Debt Relief is a credit counseling and debt consolidation company that claims to help you improve your credit and pay down debt. The company advertises that consumers will be able to get out of debt without filing bankruptcy, and that the average savings on debts owed is over $6,000.
But does the company work? Do they do what they say they’ll do? Let’s look at National Debt Relief reviews to find out what consumers are saying.
Who Are National Debt Relief?
National Debt Relief is a debt settlement company that’s licensed to do business across most of America. The company is accredited by the Better Business Bureau, and actually has quite good ratings. At time of writing, the company had a score of A+ with the BBB.
National Debt Relief seems to take pride in maintaining professional memberships. In addition to the Better Business Bureau, the company is also a member of the American Fair Credit Council, which helps to monitor regulatory compliance. Furthermore, National Debt Relief are members of the international Association of Professional Debt Arbitrators.
So what does this mean for you? Well, for one, you can be assured that National Debt Relief isn’t a fly-by-night company. They’ve been around long enough and have enough associations with professional organizations that you can be confident they won’t take your money and run.
Additionally, National Debt Relief is an experienced company. They’ve had enough success with previous consumers that they’ve managed to stay in business and net results for customers.
Should you look into debt settlement with National Debt Relief? Here’s what others are saying in their National Debt Relief reviews.
National Debt Relief Reviews: Hidden Fees?
The first thing you’ll need to know about National Debt Relief is that they’re a for-profit company. Working with a company like NDR isn’t like working with, say, a government entity to get credit counseling. With that in mind, you know the service will cost you money.
The first, and most obvious, place we went for National Debt Relief reviews was the Better Business Bureau. The BBB is an organization to which people turn to air their complaints. On the BBB website, we found that a majority of the complaints filed were from consumers who were surprised by fees.
Here’s how the company works. First, you’ll engage in a free debt consultation. During that consultation, a representative will gain a clearer picture of the items you owe, and will help you determine which may be negotiated for you.
The company will do a soft credit pull and will verify your creditors. Then, the plan begins. National Debt Relief will work with you to establish a savings account. Each month, you’ll deposit a predetermined amount of money into that account, which you’re not allowed access to.
The company will then contact your creditors to negotiate settlements. A debt settlement is an agreement for you to pay less than you actually owe. In some cases, you could pay just pennies on the dollar for outstanding debts.
National Debt Relief reviews on Better Business Bureau claim that there were fees for debt settlements, in addition to the savings account. Of course, as NDR is a for-profit company, this is to be expected. Positive National Debt Relief reviews countered the negative ones, saying the fees were clearly outlined in the paperwork consumers were required to sign.
To put it very simply, if you sign on with National Debt Relief, be sure to read the paperwork you’re signing. That means fewer surprises for everyone.
National Debt Relief Reviews: Is the Service Valuable?
An overwhelming number of reviews of National Debt Relief stated that yes, the service was valuable. Negotiations began immediately on the consumers’ behalf, and some customers saw results within just a month or two.
National Debt Relief has the distinction of beginning work on your debt settlement immediately. Other companies will require that you finish a full two or three year savings plan before negotiations are even begun. That, of course, is money you could apply toward your debts.
National Debt Relief reviews help firm that the company got to work immediately. While it sometimes took six months or so to see a positive change on a credit score, the company diligently worked to negotiate debt with creditors beginning at the signing of the paperwork.
There were complaints about customer service. Some consumers wrote that the voice on the other end of the line wasn’t always friendly, and some claimed they heard a bit of condescension. One man claimed his representative “didn’t know how to use a calculator.”
No matter which credit counseling or debt settlement company you use, it’s important to remember this: creditors are not required to settle your debt. National Debt Relief makes no guarantees that creditors will cooperate, and National Debt Relief reviews reflected this.
Some consumers were thrilled with the settlements they were awarded. Others were highly irritated that the creditors chose not to cooperate with the debt settlement company. In short, any debt settlement company is a gamble, and it’s critical that you understand the risks before signing up.
Should I Hire National Debt Relief?
If you’re faced with debt from credit cards, medical bills or other sources, you must realize that you can absolutely settle these debts yourself. Contact your creditors and determine whether they will work with you to adjust your payments, to settle your debt or to offer you a deferment.
If you don’t have the time, the willingness or the know-how to do so, it’s then that you should consider a debt settlement program. And, in comparison to other debt relief programs, National Debt Relief seems to be one of the best.
Despite consumer complaints about hidden fees and customer service shortcomings, National Debt Relief seems to be one of the most effective in helping consumers resolve or settle debt. If you’re simply curious, give the company a call. The consultation is free, and you’ll get a better idea of the options National Debt Relief can offer to you.