If you’re interested in pursuing debt settlement, you’ve probably come across the name Accredited Debt Relief. But what can the company do to help you to get rid of all that credit card debt that’s been weighing you down for some time now? In fact, what IS Accredited Debt Relief? Read on for that and more.
What Exactly is Debt Settlement?
Also known as debt relief, debt settlement is when you get a company like Accredited Debt Relief to approach your creditors with the purpose of getting them to accept less than what you owe to settle your debts. Failing that, your next move is likely bankruptcy, which will probably yield your creditors nada. Your creditors know this, so, you’ve got a good shot.
How Does Debt Settlement Work?
A free consultation with Accredited will include a review of your situation and a personalized repayment plan. After that’s done, you’ll be asked to deposit funds monthly into a savings-like account from which your settlements will ultimately be derived. After you’ve saved enough – the amount is dictated by your earnings and debt load – Accredited will begin “talks” with each of your creditors. All settlements must be approved by you.
Will My Credit Be Hurt?
The debt relief process will cause your scores to drop – but only temporarily. Once your credit report reflects your settlements, and you’ve begun to rebuild your credit, your scores will bounce back and then some. And anyway, aren’t your scores already on the low side?
How Much Can I Save and How Long Will the Process Take?
It depends on your total debt and ability to save, but with Accredited Debt Relief, you can expect to ultimately save up to half of what you owe in 12 to 48 months.
Is Accredited a Reputable Company?
Good question, because while most debt settlement companies are legit, some unscrupulous companies out there work hard to give the industry a bad name. Your job, then, is to make sure the company you choose is credible. As for Accredited Debt Relief, it is indeed, well, accredited – by the BBB (Better Business Bureau) and the American Fair Credit Council. The company’s also gotten five-star reviews from past clients.
What Do Customer Reviews Say?
Here are a few of those five-star reviews from confirmed customers:
- From 1/11/21: “My certified debt specialist was phenomenal. I had 1,000 questions and she was able to answer all 1,000 of them without hesitation. I currently have about $50,000 in debt, and my representative was able to alleviate a large sum of it after a short phone call. I’m looking forward to working with Accredited Debt Relief.”
- From 11/08/20: “Quick and painless – Accredited Debt Relief was able to help me avoid bankruptcy, which was my last resort. Instead of paying monthly minimums on my credit cards for the next 20 years, I have the peace of mind knowing all my debt will be paid in full in 48 months.”
- From 8/19/20: “Calling Accredited Debt Relief was one of the best phone calls I ever made! I was struggling to make house payments, three credit card payments and monthly utility bills. I haven’t worked in six months, and I was really struggling. My representative had everything worked out for me and explained it all in just a few minutes. What I’m paying now is a fraction of what I was paying towards my monthly credit card payments. Plus, the savings on the interest I would have been paying was phenomenal!”
Now that you know what Accredited Debt Relief is, you can move forward with confidence on the best financial move for you and yours. Remember, knowledge is power. Use it wisely.