Trident Debt Solutions is a top tier financial consulting agency that specializes in debt settlement. With an astounding 30 years of experience, this small Colorado company has helped resolve over $25 million of client debt. Since 2003, customers have settled their debts with the legal services provided by attorney Stephen T. Craig.

The Good

Money Back Guarantee

Trident Debt Solutions makes it their top priority to settle a client’s debt. If they are unable to negotiate at least a 30% reduction of the original debt amount, the client will not be charged for their services. The company also offers a unique service where the client can set up all creditor calls to be redirected to an attorney for a flat fee of $100 for each credit account.

Backed by Attorneys

Trident offers services that are backed by an attorney who has helped resolve debts with over 3,000 individuals. We are pleased to see the company offer lawyer based services because this gives clients the best kind of leverage when it comes to negotiating debt and dealing with harassing creditors. Generally speaking, cases that are handled by lawyers see the best settle results. The process begins with a type of negotiation called reverse auction. This means the negotiation process is started on the client's behalf by contacting creditors and informing them of the client's financial capabilities, this way the creditors are aware that there isn’t enough to pay each creditor. Following this, the attorney sets up a situation where creditors bid against each other to be the first one to settle with the client. The attorney, Stephen T. Craig, settles debts with creditors for at least 50 to 60 cents on the dollar.

Settles Debt Fast

The company’s goal is to get clients out of debt sometime between 6 months and 2 years, which is faster than most of their competitors. Any case that takes longer than 2 years risks litigation. The company’s small size allows for a more personalized approach with clients. Their success rate is also 100% over the past 10 years. Federal law also prohibits creditors to go through the client when an attorney is hired – this stops the harassing creditor calls. The company has been honest about situations where the client has been sued, but none of these clients have ever seen the inside of a courtroom.

Additional pros:

  • Offers legal advice
  • Helpful from start to finish
  • Services are free if debt isn't reduced by at least 30%
  • Free consultation
  • Specializes in bankruptcy

The Bad

The company is very limited with the type of clients they work with. Customers are required to have at least $30,000 of debt, but those who have upwards of $60,000 of debt and are able to see the biggest reduction in debt over a 2-year timeframe. The attorney Stephen T. Craig states that he realizes an individual in this type of financial situation is rare, but regardless, “for those that are, we like to offer them a very high level of service.” There is a free consultation available, but there is no toll-free number. Potential clients have to dial directly to Denver or Boulder, CO.

The Bottom Line

Trident Debt Solutions is an attorney based company that offers debt reduction services. Their minimum debt requirement is rather high, especially compared to the average industry minimum of $16,000. This company is not accredited with the AFCC and the IAPDA, but it is run by a licensed attorney by the name of Stephen T. Craig, so he is obligated to practice ethical legal standards set by the American Bar Association. For consumers with over $30,000 of debt, we recommend taking advantage of their free consultation to see if they are the answer to your financial troubles.