Sunday, January 23rd
2022 Debt Relief Company Reviews
Curadebt
- Free initial consultation
- Can provide help with debts that include credit cards, personal loans, medical bills, collections and repossessions, business debts, IRS debt and back taxes
- Minimum debt of $5,000 required
- Fees only paid as debts are settled, typically less than 21% of total debt
- "A+" rated by the BBB
- Available in 34 states
For over 25 years, CuraDebt has helped people get on top of what they owe through proven debt relief strategies. You only pay fees when your debts are resolved, and you'll still save a lot of money. The initial consultation is complimentary. While this is still one of our favorite resources for trustworthy debt relief, there are 16 states where residents will not be eligible for CuraDebt's services.
SoFi
- Fixed-rate loans from $5,000 to $100,000
- Competitive APRs (with AutoPay discount)
- Repayment terms from 2-7 years
- No origination fees
- Unemployment protection benefits on all personal loans
- Available in all states except MS
- "A+" rated by the BBB
SoFi has some big benefits compared with other options for debt relief loans: the lowest average interest rates, assistance (and forbearance) if you lose your job while repaying a loan, and even occasional sign-up bonus money. But, an increase in the number of complaints from SoFi clients, describing negative experiences specifically with the customer service department, gave us some cause for concern.
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Who Provides the Best Debt Relief?
If you're facing an ever-increasing pile of "past due" notices, threatening letters from the IRS, and credit card statements where you're barely paying the interest, you're not alone. With unemployment rates reaching record highs, more people are struggling to make ends meet. The average American carries over $90,000 in debt, from student loans to mortgages, and it's easy to get in over your head.
Debt relief is the solution you need. It may sound like a gimmick or a scam, but rest assured that there are many reputable services that can help you reduce the amount of money you owe and help you get back on track financially. These programs typically work by negotiating on your behalf with credit card companies and other debtors, through strategies like debt settlement and repayment plans. Some of the best debt relief services work closely with you to create a solid plan for moving forward too, helping you to make sound financial decisions and hopefully avoid needing such measures in the future!
Debt Relief Company FAQ
Continued from above...
Are you eligible for debt relief? The criteria vary by provider, but you probably need to have at least $5,000 in total debt owed across all categories (taxes, credit cards, auto payments, and so on). Also, be aware that some "debt relief" is structured as a personal loan: you use the proceeds to pay off multiple accounts and consolidate what you owe into a single monthly payment. In that case, the ball is in your court and you won't necessarily get any financial coaching or have professionals working to renegotiate what you owe.
Which debt relief program is best for you? That depends on several factors, such as the type of debt you owe and how much, as well as your credit history and ability to qualify for a loan. Here are several features to keep in mind as you evaluate your options for debt relief:
- Approach. How does the debt relief provider help reduce or eliminate your debt? Some companies actually reach out to your creditors to get them to agree to a smaller payback amount, while others give you a loan so that you can pay off your debts on your own. It's worth considering multiple strategies to find the one that will be in your best interest.
- Fees. Will you pay anything for the debt relief plan being offered? If it's a personal loan used to clear debts, what will you pay in interest and origination fees?
- Reputation. What do other clients say about their experience with the debt relief service? Is the company trustworthy? Look for strong positive reviews from people who have actually used the program, as well as a good rating from the Better Business Bureau.
TopConsumerReviews.com has evaluated and ranked the most popular debt relief programs available today. We hope this information helps you get out from under your mountain of debt and gain the peace of mind that comes from knowing you're on the right track financially.
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