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National Debt Relief
9.8
ratings

Overview

Debt management is a tool that allows you to resolve your debt problems without bankruptcy. Debt management includes a plan made between you and your creditor, which involves negotiating reduced interest rates and payments on your debt amount. While debtors can always work out a debt management plan with their creditors individually, there are companies that can do this for them. Such companies have expertise in debt management and help individuals approach their creditors more efficiently. While there are over a dozen of companies that help people clear off their debts with lesser hassles, the National Debt Relief has managed to gain the trust of its clients and has received A+ ratings from BBB rating, Best Overall by TopTenReviews, and a 9.4 on 10 by Trustpilot over the years.

The inception of National Debt Relief revolves around a simple idea that people should be able to live their lives without the anxiety or stress of overwhelming debt. Since 2009 till date, the company has helped over 100,000 individuals and small businesses in clearing off their debts.

To help individuals clear off their debts, the National Debt Relief offers services like self-payment initiatives, consumer credit counseling, debt consolidation programs, debt settlement, and in some extreme cases, bankruptcy. Taking help from the National Debt Relief will help you get a relief from all your debts. The company gets you financial counseling and guidance from experts and helps you create a budget plan that would address all your previous bad spending behavior, help you with a lower monthly payment that will fit right in your tight budget, help you with waived off payment charges and fees, and have a sizeable portion of your debt forgiven.

To understand the services offered by the National Debt Relief better, below are some factors that you can consider.

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Pros

  • You don’t pay fees till debt is reduced
  • Works with student loans (Some)
  • Great customer support

Cons

  • Doesn’t save you as much money as the competition
  • Is available only in 41 states.
  • Doesn’t have relief for secured loans.

Support

Once you are on a debt management plan by the National Debt Relief, getting in touch with their customer support for any query will be easy and smooth. They have received top ratings from users as well as from professional reviewers.

States coverage

Although the National Debt Relief has covered most states in the country, there are still 9 states they are not present in. This can make it difficult for people who need help with their debt and live in the states that are not covered by the National Debt Relief.

Deals with unsecured loans

While those with unsecured loan debts can take a sigh of relief by getting on a debt settlement plan with the National Debt Relief, people with secured loans will find it difficult as the company does not provide settlement plans for debts on secured loans. However, the National Debt Security does provide suggestions, if not a plan, to deal with the debts.

Consolidated loans

While the National Debt Relief helps you with a plan that allows you to settle your total debt amount with your creditors, it also offers you consolidated loans through Liberty Lending. However, this process has its own terms and conditions that you can check with the company separately.

Eligibility

There are some eligibility criteria that the National Debt Relief follows, and to be eligible, you must have a debt of minimum of around $7,500. However, those who don’t meet the minimum threshold of the debt amount don’t have to worry as they will be directed to a credit counselor who will help them manage the debts.

Dealing with the collection agencies

Once you are on board with the National Debt Relief and enter a debt settlement program, you will appear as a delinquent debtor to most of your creditors. When that happens, you are likely to receive multiple calls from collection agencies. This might sound scary, but you don’t have to worry as you can direct the calls from collection agencies to the National Debt Relief and they will take care of debt repayment from there on your behalf.

Clearance time

The usual time taken to settle the debts are between 24 and 48 months and not longer than that. This makes individuals who are using their services get done with all their due payments within 2 or a maximum of 4 years and thereafter lead a peaceful debt-free life. Though you will have a debt-free life post the settlement that will most probably happen within 24–48 months, you can expect a substantial drop in your credit score.

Cost and fees

On an average, the team at the National Debt Relief will help you reduce your debt by around 49 percent, which is slightly higher than many other debt management companies. There is no consultation fees or charges that you have to pay; however, you will be charged with approximately 15–25 percent of the amount settled by the end of your whole settlement. Therefore, you can relax about any upfront charges over and above your present debts until all your debts are settled.

National Debt Relief