Slashing Your Debt in Half: A New Era Debt Solutions Review

An Overview of New Era Debt Solutions

New Era Debt Solutions, based in Camarillo, California, is said to be established with a mission to help families across 47 states manage their debt and find relief. Since then, they have successfully negotiated $275 million in debt reduction for their clients, resulting in savings of around 47.77% on their total debts. That said, they may potentially help save you about half of what you owe. However, it's worth noting that these figures do not cover any settlement fees that may be required for the company's services.

Their payment system is linked to their performance, where you only pay a portion of the debts settled successfully. They don't ask for any monthly or upfront charges. Upon signing up, you'd undergo a consultation with a debt expert who would guide you through their debt settlement process and address any queries you might have.

Customers who join the debt relief program at New Era Debt Solution typically take around 28 months—just over two years—to finish the program successfully. The success of these programs relies on several factors, including the amount that creditors are willing to settle for and your monthly contributions to the settlement fund.

In 2021, the company faced some legal challenges within the state of Oregon, which caused them to halt their operations there. Nonetheless, they maintain a clean record with the Consumer Financial Protection Bureau (CFPB) and hold accreditation from the International Association of Professional Debt Arbitrators (IAPDA). They are also currently accredited by the Better Business Bureau (BBB), and have an A+ rating. Moreover, they have received highly positive feedback from clients online.

Types of Debt Covered by New Era Debt Solutions 

New Era Debt Solutions specializes in helping people and families settle the following types of unsecured debt:

• Credit card balances
• Medical bills
• Personal loans
• Private student loans 
• Department store cards
• Income taxes

Keep in mind that secured debts, such as taxes, child support, or anything secured by collateral, are generally not covered under debt relief programs, in general.

Services Offered by New Era Debt Solutions

New Era Debt Solutions provides services to help people navigate the challenges of debt settlement. You can expect them to provide the following main services:

• Consultation:  When you join their program, a team of experts will first conduct a consultation to assess your financial situation and determine if debt settlement is the right choice for you
• Debt negotiation and settlement services: Their main services involve negotiators who work with your creditors to secure settlements on your debts
• Assigned debt specialists: You would be assigned your own debt specialist, who would negotiate with your creditors on your behalf while keeping you updated on the settlement’s progress. You would then be required to make deposits into a savings account managed by the company 
• Support resources: They provide access to resources that can help improve your knowledge and debt management skills. These resources can empower you to make decisions and avoid falling into debt traps

However, please be aware that results may take time with such a service. They state that the initial settlement process may take around 12 months through the company's services, and the overall settlement process typically lasts for 28 months. Notably, about 81.72% of their clients have successfully completed the program.

The Fee Structure at New Era Debt Solutions 

As we previously mentioned, New Era Debt Solutions operates on a fee structure based on performance. Under these terms, you only pay them if they successfully lower your debt load. When that condition is met, they take a percentage of the amount settled, typically ranging between 14% to 23%.

For example, if they manage to negotiate an $8,000 credit card debt down to $4,000, with a 20% settlement fee, you'll then need to pay $800 in fees on top of the $4,000 paid to creditors. Ultimately, you'd save $3,200 after settling the debt. 

Although programs like this can help you avoid paying off large debt amounts, any remaining balances could still be reported to credit agencies. This might temporarily lower your credit score. That said, choosing debt settlement programs could still benefit you as they offer an easier way to reduce your debt than handling it alone.

The Advantages of Choosing New Era Debt Solutions

• Competitive fee structure: They offer fees ranging from 14% to 23%, which are below the typical industry rates of 15% to 25%
• No initial or monthly fees: Customers are not required to pay any recurring fees; fees are only charged upon debt resolution
• Free consultation offered: You can take advantage of this consultation to explore your options and understand how their debt settlement program may help you, without having to make a commitment
• High customer satisfaction: The company receives very high ratings from customers, as seen on online forums like Trustpilot and the BBB

The Limitations of Opting for New Era Debt Solutions

• No settlement guarantee: They do not promise that creditors will accept their proposed settlements, which may result in you being in a worse financial situation after enrolling
• Not available in all states: They serve clients directly in 20 states, and through the Consumer First Legal Network (CFLN) in 27 states. Iowa, Maine, and Oregon are not open for customers
• Limited business hours: The company is available to assist customers from Monday to Saturday, with no customer service on weekends
• No mobile app: New Era Debt Solutions does not offer an app; you'll need to log in to their website dashboard to access your account and monitor your progress

New Era Debt Solutions Customer Reviews

New Era Debt Solutions’ high customer satisfaction is reflected in its ratings in places like Google Reviews, where it scores 4.9 out of 5 stars. Similarly, reviewers on Trustpilot award the company an impressive 5 out of 5 stars. Such high ratings indicate the company's track record of successfully helping clients achieve their debt-relief goals.

Many customers on these sites praised New Era Debt Solutions’ customer service team and specialists for their dedication. Reviews highlight their knowledgeable and responsive approach, with clients feeling consistently informed and updated throughout the debt settlement process. Transparency is another key theme in these reviews with several reviewers commenting that the company makes sure their settlement timeframes and rates promised are accurate and transparent. 

Pleased clients of New Era Debt Solutions have also reported that flexibility is another strong reason for choosing the company. They point out that the company adjusts to debtors' needs and availability, making time for clients on short notice, explaining the settlement process in detail, and customizing the program to suit individual needs.

Overall, New Era Debt Solutions receives high customer satisfaction ratings, with users praising their customer service, transparency, and flexibility. Reviews focus on the dedication of their team, which keeps clients informed throughout the debt settlement process. Customers also appreciate that the company tailors its programs to individual needs and communicates timeframes and rates clearly.

Customer Support at New Era Debt Solutions

You can contact New Era Debt Solutions’ customer service team through several channels, including their initial client services phone number (866) 693-6740, or (800) 988-4387 for existing clients. Live chat is also available to you when you log in to your client dashboard. After-hours services are available by appointment only. They are available Monday to Saturday from 7 AM to 8 PM PT. 

You may also be able to access their support team via email at [email protected], or through regular mail at 2150 Pickwick Dr., #2863 Camarillo, CA 93011. You may also fill out their general inquiries form on their Contact Us page. You can also visit the company’s headquarters at: 

New Era Debt Solutions
330 Wood Rd., Suite B
Camarillo, CA 93010

For more information, visit New Era Debt Solutions’ blog and Media pages. 

Final Thoughts

In conclusion, New Era Debt Solutions offers a compelling debt-relief solution for many families and individuals with relatively low fees. They’re known and praised for their transparency and helpfulness by many reviewers online. They also record a relatively high amount of debt resolved, typically settled within a short timeframe compared to the industry average. 

That said, we recommend you take your time in evaluating all the valuable information about New Era Debt Solutions provided in this review prior to settling on a debt relief provider. You can compare them to other debt relief providers using our comparative tool in order to assess their strengths and unique offerings against each other. You should also explore our in-depth reviews of top debt relief companies to have a wider picture of the industry and other relief providers. This will help you better identify the company that aligns best with your financial objectives. For those seeking additional resources, our blog serves as a comprehensive repository of debt-relief-related knowledge. 

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