Credit Associates Review: Live Better, Debt Free!
CreditAssociates Review: Live Better, Debt Free!
Credit Associate is a debt relief company that's focused on helping people negotiate settlements on unsecured debt. Their main goal is to get your creditors to agree on settling the debt you owe them for less than what you actually owe. They abide by the law in not charging you any upfront fees when you enroll in any of their programs. However, you'll be required to pay a fee once the debt is settled.
Drowning in debt can make life quite difficult to enjoy, especially when you have debt collectors calling you every day and asking you to pay off your debt. However, this doesn't have to be a huge issue because many solutions can help save your situation. No matter how much debt you have accumulated and how messy things have gotten, companies like Credit Associates will help you manage your situation.
It is worth mentioning that debt settlement can be a risky process, so you need to have experts helping you make sure that everything is actually settled. Then, all you need is a savings bank account where you can accumulate payments, and the company will take it from there.
How Does Credit Associates Work?
When you want to work with a debt settlement company, you'll want to consult an expert at first to discuss your financial situation with them. Luckily, Credit Associates offers free financial consultation where you can discuss what qualifies and disqualifies you from becoming one of their clients. After that, if you're qualified, they will come up with a savings plan, and you can then analyze it and decide if you would like to move forward with their debt settlement services.
The rules aren't too strict; however, it is a downside that you need to have a minimum of $7,500 to qualify for Credit Associates programs and make the regular settlement payments. Nevertheless, if you choose to enroll in one of their programs, CreditAssociates will immediately start negotiating with your creditors. And once you have enough funds in your account to pay a settlement, Credit Associates will start arranging your debt settlement payments.
Credit Associates charge you no upfront fees, but they do charge you a percentage of the total debt for their services, which is the standard protocol in the industry. Their goal is to settle and resolve your debt within 24 to 36 months and get you out of debt for much less than what you owe. Furthermore, you will not be charged any fees until your debt is resolved.
Credit Associates - Qualifying for a Debt Relief Program
Credit Associate offers a debt settlement program to help clients who are struggling with paying their debts. Their requirements are not different from any other debt relief company. Here are the things that they look for when accepting clients:
- Financial hardship: Credit Associates only helps people that are going through a real financial difficulty. They work with you pre and during the program to help you overcome your financial hardship.
- Behind in payments: To qualify for a debt settlement program, Credit Associates requires you to be at least several months behind in your payments.
- Ability to make a monthly payment: In order to have the company settle your debt, you'll need to make a monthly payment to the program. Credit Associates' programs are all savings-oriented programs. Instead of making payments to your creditors, you need to make monthly payments to a specially assigned account in your name used to pay off your debts. Credit Associates builds its program around a 24-36 month period.
- Sufficient debt to warrant the program: Although they don't disclose a minimum debt amount, Credit Associates requires you to enroll at least $7,500 in debt.
Types of Debt Relief that CreditAssociates Support
CreditAssociates, like most other companies, cover unsecured debts only in addition to debt counseling, management, and settlement. Here are the main debt types that CreditAssociates work with:
Credit card debt
If you have credit card debt that you just can't seem to settle, CreditAssociates will help you settle it. They will negotiate with your creditors to reduce the debt amount as much as they possibly can.
Unpaid medical bills
If you have unpaid medical bills that are piling up, your debt relief company will help you pay a much smaller amount than you're supposed to. They do this by negotiating with hospitals, doctor offices, and medical institutions.
If you have business debt that you cannot seem to pay off, Credit Associates will help you manage it and settle it. They will also try to reach an agreement with your creditors to reduce your debt value.
You will not be asked to pay any upfront fees with Credit Associates because it is against the law to do so. The company will only charge you a fee if it manages to successfully negotiate an agreement with your creditors. This is the typical protocol followed by debt relief companies.
Credits Associates do not disclose the fees it charges its customers nor does it disclose the savings you might need before and after the fees. We need to make it known to you that the best debt relief companies are clear and transparent about such info.
Credit Associates clients usually resolve their debt in around 24 to 36 months, which falls within the industry average debt-resolving time.
If you find yourself lost and in need to have someone to answer your queries, you can reach out to Credit Associates customer support. They're available every day of the week except Sunday. The office's business hours are Monday through Friday from 8 am to 10 pm ET, and on Saturday between 10 am and 7 pm ET.
To get phone support from Credit Associates, you can contact these numbers:
- Non-Clients: 1-800-983-6693
- Existing Clients: 1-800-348-7606
Credit Associates doesn’t offer a live chat option nor do they accept queries on Sundays. Although you might see them as disadvantages, they aren’t unusual protocols. It’s common for debt relief companies to provide support on weekdays and very few debt relief providers offer a live chat option.
Drowning in debt is a life-stopping issue that will have you thinking all the time about all the different ways you can get rid of debt. If you can relate to this statement, then it is probably best if you resort to debt relief companies to help you overcome and settle your debt in a short amount of time and for less than what you owe.
Credit Associates is not the best company on our list as they aren't transparent about a number of info that are necessary for clients to know. However, it is a good enough debt relief company that could help you get out of your debt and lead a better financial life.
The time period varies from one person to another, depending on their financial situation. According to Credit Associates website, the average client who sticks with their plan can complete the program in about 36 months
No, you are responsible for payments to your Special Purpose Savings Account which will be used to complete negotiations with creditors.
It all depends on how your credit was when you enrolled in the program. If you don't make payments according to the agreement, your credit score will definitely suffer.
If you're unable to deposit in your savings account and accumulate funds, then CreditAssociates cannot help you settle your debt.
Yes, late fees and interest typically continue to accumulate.
No, CreditsAssociates is still not available in Colorado, Connecticut, Georgia, Minnesota, Maryland, Ohio, Vermont, and Wyoming.
Yes, once the time is right, they will contact your creditors.
No, you need to stop using your credit card while the company is negotiating with your creditors.