Accredited Debt Relief is a debt settlement company with an above average rating in customer reviews. The company says customers can settle their debts for as little as 55% of the debt amount (before fees) and pay off their debts in 24 to 48 months.
However, debt consolidation can be risky, and fees and taxes can have a significant impact. Before resorting to debt consolidation, consider other options such as debt consolidation or debt management programs.
Rates and charges listed are current as of April 15, 2024 and are subject to change.
Certified debt relief
Eligibility requirements: | Minimum $1,000 |
Fee: | 25% of registered debt |
evaluation: | BBB A+ |
Certification: | AADR |
Savings: | 45% of registered debt (before fees) |
time: | 24-48 months |
Types of Debts Certified Debt Relief Can Help You Solve
Qualified debt relief helps manage unsecured debts, or debts without collateral. Other forms of debt, such as auto loans, mortgages, and federal student loans, are not eligible.
Fee structure for certified debt relief
With Accredited Debt Relief's debt resolution program, you only pay a fee if a settlement is reached. Typically, companies charge 25% of the registered debt.
For example, let's say you have $10,000 in unpaid debt. Accredited Debt Relief successfully negotiated a settlement for him for $6,000 so he can pay off his debt and save him $4,000. However, since he has to pay the company 25% of the registered debt, or $2,500, the actual savings he makes is $1,500.
How does working with a certified debt relief program affect your credit score?
If you work with a debt relief company, including Accredited Debt Relief, your credit may be negatively affected. For debt consolidation to work, you must stop making payments. Creditors will report these missed payments to the major credit bureaus, and your payment history can seriously damage your credit.
Ratings of Certified Debt Relief Institutions
Accredited Debt Relief has an A+ rating from the Better Business Bureau and a TrustScore of 4.9 out of 5 based on over 6,000 reviews from TrustPilot.
How much can I save with the Certified Debt Relief Scheme?
Debt consolidation allows you to get rid of your debt for less than the amount owed. Accredited Debt Relief reports that a customer typically clears his 55% of registered debt before fees.
How long does it take to resolve a debt with Certified Debt Relief?
The company says clients typically take 24 to 48 months to complete the program. How long it takes depends on the amount of debt, the creditor's willingness to negotiate, and how much cash is available to settle the debt.
Other services provided by Certified Debt Relief
In addition to debt relief or debt consolidation. Accredited Debt Relief also offers debt consolidation loans through our affiliate partners. Debt consolidation uses personal loans to pay off existing debts. If you have a good credit score, you may be able to qualify for a loan with a lower interest rate than your existing credit cards or other debt.
Debt consolidation makes sense for people who can afford their current payments, have a good credit score, and are looking to save money or pay off their debt faster.
Are there any risks in resolving debt with a certified debt relief scheme?
Although Accredited Debt Relief has a strong customer reputation, prospective customers should be aware that debt resolution comes with risks.
To qualify for debt consolidation, you must have enough cash to make a lump sum settlement offer. For people struggling to make ends meet, it can be difficult to save enough cash to resolve debts. And while the debt settlement company negotiates with your creditors, you will pause your debt payments, severely damaging your credit score.
Even if the company is successful in negotiating a settlement, there could be significant tax implications. Forgiven debts are taxed as income.
Accredited Debt Relief’s Debt Resolution Reputation
Certified Debt Relief is highly regarded within the debt resolution industry. It is accredited by the American Association for Debt Resolution (AADR) and has high ratings from past customers on TrustPilot.
Is Certified Debt Relief Right for You?
If your debts reach a level that you can't repay and your account goes into collections, debt resolution through a certified debt relief program may be the answer. Debt consolidation or consolidation services may be available to help you save money and pay off your debt in 24 to 48 months.