Loans and DebtReviews

National Debt Relief Review: Debt Settlement

, Editor | Updated October 22, 2018
My3cents Rating: 4.5/5.0

After a job loss, medical emergency, or other unexpected event happens, the bills can pile up quickly. However, bankruptcy isn’t always your only option, nor is it always the best option when you’re buried in debt. For many consumers, consulting a debt consolidation company like National Debt Relief can lead to better results some relief from the chaos of debt.

Founded in 2009, National Debt Relief provides consumers with debt consolidation and debt settlement services, designed to help you gain control of and get out of debt. While there might be a number of different companies providing these services, National Debt Relief is consistently rated as one of the best debt services available, year after year.

For people who are overwhelmed by debt and collection agencies, National Debt Relief is one of the best ways to manage your debts and finances. When faced with debt and financial difficulty, it’s a much better option when compared to other options, like bankruptcy.

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National Debt Relief Eligibility Criteria

In order to qualify for debt consolidation with National Debt Relief, you do need to meet some of the requirements. However, most people in debt won’t find eligibility difficult. For instance, you’ll need to be able to make monthly payments in a settlement fund. The good news is that most of the time, the payments you make into this fund are less than your payments to your creditors – which can make paying off your debt much more manageable.

Another requirement is that your debt must be more than $7,500, and you must be behind in your payments. As an example, just missing a couple of payments last month probably won’t qualify. This is because you have to owe enough and be in enough of a desperate situation that the creditors will be open to negotiating.

The last requirement is that your financial dilemma won’t be resolved any time soon. For example, you’ve lost your job or there’s been a death of a spouse. National Debt Relief will need to prove you are truly facing hardship in order to get you some relief.

What are the Costs and Fees?

To get started with National Debt Relief, you should be aware of what it might cost you. There are no upfront fees you have to worry about. In fact, in order for a debt consolidation company to be in accordance with the Federal Trade Commission (FTC) upfront fees are not permitted. Keep this in mind with any debt relief company you consider.

However, it isn’t free to get help with your debt. With National Debt Relief, the fees vary according to the state you live in, and are usually somewhere around 18 to 25 percent. Plus, you might have to pay other fees like setup and monthly fees, for the payment bank account. Rest assured, though. You won’t have to worry about paying any of these fees until your debts are settled.

What is the Application Process?

The process for applying for debt consolidation with National Debt Relief is fairly straightforward. You can apply online on the company’s website. You’ll need to fill in the expected information such as name, address, phone number, and the estimated debt amount. This application typically takes approximately 10 to 15 minutes to complete. Usually, you will receive conditional approval within one business day after you’ve submitted your application.

Our Review: The Deep Dive

National Debt Relief has been around since 2009, providing debt relief to thousands of consumers and small business owners all over the country. Their services have been helpful in consolidating debt, paying debt, and just helping people get out of debt for nearly a decade.

One of the most notable benefits of National Debt Relief consolidation is that there are no upfront fees. This is particularly helpful for people who are drowning in debt and simply can’t afford to come up with any extra money to get help. In fact, if you want to file bankruptcy, it could cost you hundreds of dollars just to get started.

Further, the company is accredited with industry leaders such as the IAPDA and AFCC, and it stands behind a money-back guarantee. In addition, if you decide you don’t want to move forward and prefer to cancel, you do have the option to cancel without being charged extra fees.

On the other hand, there are also drawbacks. One of the most significant is that the services are not available to everyone in the country. If you live in a handful of states, you won’t qualify for consolidation with National Debt Relief. Further, the fee structure can be confusing. Typically you might pay the company 15 percent of your monthly debt settlement payment, but it could end up being as much as 25 percent, depending on how much the company can negotiate with the creditor.

Also, the company has its share of negative reviews. However, debt relief companies often have at least a small negative reputation simply because of the nature of the business. As with anything, debt settlement will not be the answer for every consumer, nor will it always work out for the best in every situation.

National Debt Relief Pros & Cons
Pros Cons
No upfront fees Only available to limited number of states
Accredited with IAPDA and AFCC Fees can be from 15% - 25%
Money-back guarantee Negative reviews in the past
Cancel without penalty fees

Bottom Line

For consumers who don’t have extra cash on hand to pay for financial services, and would prefer to avoid filing bankruptcy, National Debt Relief is a solid option. Because there are no upfront fees, and you get help negotiating payments you can afford to pay off your debt, you can be well on your way to getting your debt obligations under control in no time.

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