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Thursday, January 20th
American Debt Enders focuses on resolving debt primarily through legally disputing what you owe. The company has been around for many years and can help anyone with unsecured debt of at least $5,500.
Not the most professional website
American Debt Enders comes across a little bit...casual. For example, on the pop-up we got when visiting the site, there was a signup for something described as "your dose of Get out of Debt tips, tricks, or just things I'm enjoying" . Not sure why we would want someone's favorite viral videos or clickbait-y articles when we're looking for debt consolidation, but okay. Even on the main Free Credit Consultation sign-up, there was a typo of "coulseling" on the button to submit our information. We found more typos elsewhere on the site. And, when we tried using their online chat to ask some questions, it went unanswered even though it was during the posted business hours.
Debt dispute, not consolidation
We were interested in the way ADE describes their approach to resolving debt. One of their strategies is disputing the validity of the debt. According to the website, if your debt has been sold to a third party and the original creditor has already been repaid in full by their insurance, the new creditor is essentially trying to collect a debt that doesn't exist anymore. They refer to this as their "Debt Dispute Program" , and they promote it much more than a debt settlement or debt consolidation approach.
No disclosure of fees until you call
How would American Debt Enders resolve your debt? The best way to find out is to call for a free consultation. Your representative will go over your financial situation and let you know which resources and strategies would best fit your needs. Any fees you pay will depend on the debt management plan put in place: ADE doesn't disclose those costs upfront or even give you a general idea of what they might be.
Limited feedback available
American Debt Enders isn't a huge name in the debt consolidation industry. We didn't find a listing for them with the Better Business Bureau, and there were only a handful of client reviews in other places. Within those customer comments, we found mention of the company having faith-based roots so keep that in mind if you really love (or dislike!) the idea of working with a Christian company.
Choose a different service for more transparency
Could you get an effective debt consolidation plan through American Debt Enders. Maybe, but it's more likely that they'll take a debt dispute approach, which may not be what you want or need. Is it the most professional, experienced option at your disposal? Not even close. We'd suggest circling back to ADE only if you don't have any luck with the higher-ranking services in our review.
Maybe you've gotten overwhelmed by credit card payments and overdue bills, and now you're wondering if there's any light at the end of the tunnel. Or, perhaps you're a financially-savvy consumer who wants to take advantage of lower interest rates, in order to pay off your mounting credit cards bills. Debt consolidation can be a smart strategy either way.
What, exactly, is debt consolidation? It's important to understand that companies offering it may mean different things. For some, debt consolidation is offered as a personal loan: you borrow funds that you use to pay off all of your outstanding debts. Your interest rate should be much lower than your credit cards, and now you've got a simplified, single payment to make each month. This can be a great way to boost your credit score by reducing the likelihood of making late payments (or none at all) and get on your feet again financially. On the other hand, you're in charge of using your loan money responsibly - and not to buy things you don't need!
Other providers of debt consolidation take a more hands-on approach, giving you credit counseling and even going to bat for you with your creditors. The services they provide may include negotiating a lower debt amount or getting your debt forgiven altogether! You might pay a monthly fee for this kind of debt consolidation, or it might be a flat fee based on how much money they saved you overall.
Either route you choose, there are a lot of options out there. How can you decide which one is right for you? Keep these points in mind as you weigh out the possibilities:
TopConsumerReviews.com has evaluated and ranked the best debt consolidation options available today. We're confident that this information will help you choose a strategy to pay down your debts and get your finances in order!
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