Sunday, October 17th
2021 Debt Relief Company Reviews
American Debt Enders
- Available for consumers with debt of at least $5,500
- Can be used for any type of unsecured debt except IRS issues, federal student loans, or payday loans
- Most debt dispute programs take 2-3 years to complete
- Fees depend on the amount of debt and the relief method used
- Initial consultation is free
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 relief, 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 relief
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 traditional debt relief 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 relief 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 relief 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 relief 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.
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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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