National Debt Relief Review: Get Relief From All Your Debts
National Debt Relief is a highly rated debt relief company that offers debt settlement services that help its customers relieve their debts. They also offer free debt consultation services with counselors who can actually help. This firm helps customers settle their debts for less than they owe. It received an A+ BBB ranking for its great services so you can rest assured that it is a legit company that will help you with your financial issues.
Sinking into unpaid debt can make it almost impossible for you to dream of financial stability. If you found yourself drowning in different types of unpaid bills debt, high-interest credit card debts, or student loans debts, then debt settlement services might be the right option for you.
Although debt settlement can be a great way to help save you from financial hurdles and save you from paying a lot more money than you normally would, it also has downsides that you need to be aware of. For instance, your credit score will definitely be negatively affected due to the federal taxes on forgiven debt, late payment penalties added to your balance, and fees charged by National Debt Relief for negotiating your debt.
Before making a final decision, read more about NDR, its pros and cons, and the services it offers you. This way, you can make a decision knowing exactly what you're getting yourself into and if this is the right solution for you or not. This review will go over all the details that you need to know about, the advantages and disadvantages of NDR, and how you can make the best out of their services.
The process goes like this: National Debt Relief reviews your credit history to make sure that you qualify for their programs. They don't require a minimum credit score, but NDR does not cover mortgage or auto loans; it only settles unsecured debt like credit cards, personal loans, or student loans.
Once they make sure you're eligible for the program, you can start depositing money into an escrow account, which only you have access to. Once the escrow account has reached a certain amount, usually 25% of the debt owed, National Debt Relief starts negotiations with your creditors. When NDR and creditors reach an agreement, the escrow funds are handed over to your lenders. The amount is usually much less than what your creditors would have normally settled for.
After that, you will have to make monthly payments to National Debt Relief until you pay off all of your debt. Although usually, clients take around 24-48 months to complete the program, the amount of time taken depends on several factors.
Your credit score will drop low as you will be advised not to pay your debts as long as negotiations are ongoing. However, if you're resorting to debt settlement, your credit score might already be so low. But we can attest that it is worth taking the risk since you'll be saving enough money as National Debt Relief claims it can reduce your debt up to 50%.
In order for you to qualify for NDR debt relief programs, you must have at least $7,500 in outstanding, unsecured debt. The good thing is that they do not ask for a certain credit score requirement to be considered for National Debt Relief.
It is worth mentioning that you need to have some cash upfront to complete the program. That is because you must deposit an amount of money into an escrow account in order for National Debt Relief to start negotiating the debt with your creditors. Although you might need as minimum as 25% of the money you owe your lenders, the more money you owe, the more cash you need to deposit in the escrow account before NDR begins the negotiations.
When National Debt Relief reaches an agreement point with your creditors, the money will be withdrawn and used to pay off your debts by going directly to the people you're indebted to.
You will be charged a fee of 18%-25% of the enrolled debt. So, for example, if you come to National Debt Relief with $20,000 in debt, you should expect to pay them between $3,600 and $5,000 in fees. There can also be additional service or maintenance fees to pay, all depending on your state.
It is worth mentioning that in 2010, the FederalTrade Commission (FTC) made it illegal for debt settlement companies to charge upfront fees. So, if a company asks for your credit card number before making sure that you're eligible for the program, it is probably a fraud and a red flag; be aware!
National Debt Relief is clear about what types of debt do and don't qualify, as they have a debt qualification page on their website that explains that. Mainly, National Debt Relief helps consumers pay off their unsecured debt, which includes any type of debt that is not secured by collateral. The main types of debt that National Debt Relief covers are:
Credit card debt
National Debt Relief helps you settle your credit card debt for less than you owe, whether you have a traditional or store credit card debt. This also applies to major credit cards like Visa, American Express, or Discover, and co-branded cards from retailers like Sears.
Private student loans
If you have a private student loan debt, National Debt Relief will help you settle it for less than your total balance. However, it is worth knowing that federal student loans are not eligible for debt settlement.
Unpaid medical bills
National Debt Relief can successfully negotiate with doctors' offices, hospitals, and other medical providers to lessen your medical bills loans. As a result, you can settle your debt for much less than you owe.
Personal loans and payday loans
If you've recently found yourself indebted to a bank, online lenders, or a payday loan, National Debt Relief can help you negotiate and settle any personal debt you have.
If you're no longer a resident, you can negotiate a bank rent debt. National Debt Relief services will help you settle the debt by negotiating the amount you owe in arrears.
You can also negotiate and settle business debts for much less than you owe with National Debt Relief. However, it is required by National Debt Relief that these loans be unsecured. NDR also offers to help negotiate debts for businesses that are already closed.
National Debt Relief offers email and phone support services. If you're looking for free debt consultation services, you can call in to speak with a counselor Monday through Friday from 8 am to midnight EST as well as Saturday from 10 am to 10 pm. Customers can reach out for phone assistance Monday through Friday from 10 am to 8 pm.
Unfortunately, NDR does not offer a mobile app or an online chat service, which might make their customer service look lacking compared to other providers. However, most of their users give them excellent reviews regarding response time and willingness to help.
However, it is important to mention that National Debt relief's debt counselors and experts can help you navigate the Fair Credit Reporting Act, the Fair Credit Billing Act, and the Fair Debt Collection Practices Act as you settle your debt. They have proven to be extremely knowledgeable about debt collection rules and regulations.
Settling your debts can be a huge burden, especially if you're indebted to more than one creditor. That is why you need to choose wisely when it comes to the Debt Relief company you're willing to settle with. National Debt Relief is a great and efficient option for you. We would confidently recommend you start settling your debt with them.
The minimum debt amount they require is not too high and their fees are reasonable enough. Many of their customers attest that they offer great support services and this gives them a huge boost up the scale. Moreover, you should take into consideration their A+ Better Business Burea rating which makes them better than their competitors.