CountryWide Debt Relief Review
CountryWide debt relief has been in the industry since 2008, serving people who have over $10,000 in unsecured debt. While they do not disclose their fees upfront, a free consultation could answer any questions or concerns you have.
They are a debt relief company that is headquartered on the west coast in Santa Ana, California. It was founded in 2008, and they are members of the American Fair Credit Council.
Although they are called CountryWide, they do not cover each state, so you might not qualify. If you don't qualify for their service area, they can refer you to one of their partners.
They are a member of the AFCC, but they do not have an IAPDA-Accredited Service Center. This accreditation is given to debt relief companies that train their staff members.
On a positive note, they do not have any recent lawsuits against them by the state or federal government.
They cover most unsecured debt, everything from credit cards, medical debt, private loans, payday loans, private student loans, and more. Of course, your qualification changes based on each individual case. They do not accept federal student loans or secured debts.
To qualify for one of their programs, you'll need at least $10,000 in credit card debts, and you'll need to be able to pay at least $250 or 1.5% of the total debt.
Types of debts accepted
Credit Card debt: This is a type of unsecured debt that CountryWide can help you with by negotiating your interest rate and allowing you to pay less than what you originally owed since the average rate for credit card interest is 16%.
Medical debt: A quick trip to the hospital could cost you thousands of dollars; if you have managed to rack up your medical bills, then a debt relief company could help you negotiate hospitals to help you save money and pay off all your debt.
Payday loans: This is a short-term loan with a very high-interest rate, and there is no collateral attached to it, so it is considered an unsecured loan; this means CountryWide qualifies you for debt relief if you have this type of debt.
Unsecured personal lines of credit: These are open-ended loans that allow you to withdraw the funds you need for a certain amount of time, and they can range anywhere from $1,000 to $100,000. You start paying interest almost immediately, and it is unsecured that CountryWide could help you settle this debt.
Deficiency Balances on Auto Loans: If your car gets repossessed and sold for a lower price than you originally paid for, you might end up with a deficiency. This debt relief company could renegotiate the terms and help you pay less than you owe.
1. CountryWide gathers information about the debt you owe.
2. They analyze your Income vs. your Expenses.
3. They recommend a debt consolidation option that can help you pay off the debt according to the payment plan they put together for you.
There is no transparency when it comes to the fees they charge since it is not mentioned on their website, and it is only disclosed once you go through the free consultation. The average range of fees in this industry is 15% to 25%, and it is not clear where CountryWides fees stand. Although each financial situation is different, companies usually disclose an average fee you are expected to pay.
They do not charge any upfront fees, as required by law; once the negotiation is successful and all parties agree on the terms put together, only then will you be required to make a payment.
Most debt relief companies mention the average amount you can save on their website and all their previous cases, which provides a certain level of transparency with their customers. This is not the case with CountryWide, as they do not give you an average amount you can save; they just provide a few case studies from previous consumers.
There are different factors that determine how long it will take you to clear your debt; with CountryWide, you can expect a timeframe any time between 12 to 48 months.
Customer support can be reached only through email or phone. Emails can be sent at any time to [email protected].
If you are an existing client, you can reach them during business hours by calling or texting +1 888-402-9391. If it's your first time, you can contact them by calling +1-800-594-3362.
Mon-Fri: 7 AM-6 PM
Sat: 9 AM-12 PM
Live chat and a mobile app are both unavailable.
They do not mention ways to manage your account, so you'll have to discuss this point during the free consultation. That being said, there isn't a link on their website taking you to a client portal or dashboard, which means you won't be able to manage your account through those channels.
They offer additional features for clients who do not qualify for one of their services. They could refer you to different lenders that offer debt consolidation loans and bankruptcy attorneys that could be a better fit for you.
Their lack of fees disclosed is discouraging, as most legit debt relief companies clearly state the average amount you are expected to pay. So during the free consultation, you need to make sure you understand the payment plan they put in front of you so there won't be any hidden fees.
They do offer a free consultation which is an opportunity for you to discuss what they have to offer.