Take Charge America has aided over one million people settle over $5 billion of debt through their debt management program over the past 3 decades. The company has many pros, including years of experience, a money-back guarantee, and is available in all 50 states. Although, there is some question as to how affordable Take Charge American really is, considering the the high monthly fees.
Take Charge America has over 30 years of industry experience and AICCA and FCAA accreditation. They are also a member of the NFCC. The accreditations are something that many companies cannot say they have, proving they are major competitors within the industry.
Free Consultations & Money-Back Guarantee
Take Charge offers free consultations with a certified debt counselor as well as a money back guarantee to help people feel free to try their services out. Take Charge does charge a one-time enrollment fee of no more than $25, but this is in accordance with state regulation. Under some circumstances, this fee can be partially or entirely waived under extreme debt situations.
Credit counseling is an option customers have available to them for no charge. During the session of 45 to 90 minutes, consumers will be given an assessment on their financial situation to help give them an idea of what the best plan of action is. The counselors are accustomed to working with even the most challenging of financial situations, and they provide solutions to meet personal expense needs, as well as providing consumers educational tools and resources to help them stay debt free.
Unfortunately, Take Charge does not disclose what their upfront fees are.
Mysterious Interest Rates
In addition, we do not like that Take Charge does not disclose average interest rates on its debt management programs. This makes it impossible to compare Take Charge with other companies to determine which plan would be most affordable to the consumer.
Take Charge was forced to settle a lawsuit in 2012 with the IRS in a dispute over its “non-profit organization” status. In conclusion, the IRS claimed that Take Charge was abusing this status to further financially benefit the founder’s family. For obvious reason, this is troubling and makes us second guess working with them.
The Bottom Line
With great accreditations, a money-back guarantee, and over 30 years of experience, Take Charge does have some very positive services. Conversely, their lack of transparency with upfront fees and interest rates, as well as their run in with the IRS are things to consider before working with this company. Moreover, we have seen lower interest rates in competing consolidation companies. We recommend that you further do your research on Take Charge America to determine if they are the right fit for you.
About Take Charge America
For around 30 years now, Take Charge America has offered credit counseling, debt management programs, bankruptcy counseling, and debt settlement services for anyone looking to get a hold of their financial situation. Take Charge America is a true debt consolidation company. They consolidate customer’s unsecured debt into 1 monthly payment and negotiate lower interest rates with their creditors. Take Charge also offers financial education, housing assistance, and student loan aid to guide a customer to become more financially stable in the long run.