Exposed: Is National Debt Relief Legit? Shocking Truth Revealed
Is National Debt Relief Legit?
National Debt Relief is a debt settlement company that claims to have helped thousands of Americans eliminate their debt. If you're struggling to pay off your debts, you may have heard of National Debt Relief and wondered whether it's legit. In this article, we'll take a closer look at National Debt Relief to help you decide whether it's the right choice for you.
What is National Debt Relief?
National Debt Relief is a company that helps consumers settle their debts with creditors. They negotiate with creditors to reduce the amount of debt you owe, which can help you avoid bankruptcy and get back on track financially. National Debt Relief focuses on unsecured debts, such as credit cards, medical bills, and personal loans. They don't work with secured debts, such as mortgages or car loans.
How does National Debt Relief work?
To use National Debt Relief, you'll need to have at least $10,000 in unsecured debt. Once you enroll in the program, National Debt Relief will negotiate with your creditors to settle your debts for less than you owe. You'll make monthly payments to National Debt Relief, which will go into a trust account. Once your debts have been settled, National Debt Relief will use the money in the trust account to pay off your creditors.
Is National Debt Relief a scam?
No, National Debt Relief is not a scam. The company is accredited by the Better Business Bureau and has an A+ rating. They have helped thousands of Americans settle their debts and get back on track financially. However, debt settlement is not the right choice for everyone. It's important to consider all of your options and do your research before choosing a debt relief company.
National Debt Relief Reviews
National Debt Relief has received mixed reviews from customers and industry experts. In this section, we'll take a closer look at what people are saying about National Debt Relief.
Overview of the reviews
National Debt Relief has been reviewed by several reputable sources, including Money.usnews.com, Nerdwallet.com, Forbes.com, Financebuzz.com, and Bankrate.com. While some reviews are positive, others are more critical. Here's what some of these reviews have to say:
Reviews from Money.usnews.com
Money.usnews.com gives National Debt Relief a rating of 3.5 out of 5 stars. They note that the company charges between 15% and 25% of the total debt enrolled once accounts are settled, and there are no fees for signing up or cancellation. However, they also mention that debt settlement may negatively impact a customer's credit score.
Reviews from Nerdwallet.com
Nerdwallet.com gives National Debt Relief a rating of 4.0 out of 5 stars. They highlight that customers who complete its debt settlement program reduce their enrolled debt by an average of 23% after its fees. However, they also note that the company's fee varies from 15% to 25% of your total enrolled debt, depending on the amount you owe and the state you live in.
Reviews from Forbes.com
Forbes.com gives National Debt Relief a rating of 4.5 out of 5 stars. They note that enrolling in National Debt Relief's debt relief plan may negatively impact credit rating, especially if the individual is current on bills. However, National Debt Relief claims that the majority of clients with low credit scores graduate the program with an increase in their credit.
Reviews from Financebuzz.com
Financebuzz.com gives National Debt Relief a rating of 4.3 out of 5 stars. They highlight that National Debt Relief charges a fee of 15% to 25% of the amount of total debt that customers enroll in the program. They also note that the website offers useful financial tips and resources, and customers can cancel at any time with no cancellation or penalty fees.
Reviews from Bankrate.com
Bankrate.com gives National Debt Relief a rating of 3.7 out of 5 stars. They highlight that National Debt Relief may be a good option for consumers who are struggling to make their minimum payments, but warn that debt settlement may negatively impact credit score. They also mention that Bankrate earns compensation through sponsored products and services or by users clicking on certain links posted on their site.
What do customers say about National Debt Relief?
Customer reviews of National Debt Relief are mixed. While some customers report positive experiences with the company, others have had negative experiences. Here are some examples of what customers are saying about National Debt Relief:
- “National Debt Relief was a lifesaver! They helped me reduce my debt and get back on track financially.” – John, New York
- “I had a terrible experience with National Debt Relief. They charged me high fees and didn't deliver on their promises.” – Sarah, California
- “National Debt Relief helped me settle my debts and avoid bankruptcy. I'm so grateful for their help!” – Mark, Florida
It's clear that National Debt Relief has both satisfied and dissatisfied customers. While some customers have had positive experiences with the company, others have experienced issues with their services. It's important to carefully consider all reviews before deciding whether National Debt Relief is the right choice for you.
National Debt Relief Services
National Debt Relief offers debt settlement services to help customers reduce their unsecured debts, including credit cards, medical bills, and personal loans. In this section, we'll take a closer look at the services offered by National Debt Relief.
Debt Settlement Program
National Debt Relief's debt settlement program is their main service offering. The program aims to reduce the total amount of debt owed by negotiating with creditors on behalf of their clients. Here's how the program works:
- Stop making payments to creditors: National Debt Relief advises clients to stop making payments to creditors and instead start making monthly deposits into a savings account.
- Settle debts: National Debt Relief negotiates with creditors to settle debts for less than the full amount owed.
- Pay off settled debts: National Debt Relief uses the savings account funds to pay off the settled debts.
The debt settlement process typically takes two to four years to complete. National Debt Relief charges a fee of 15% to 25% of the total debt enrolled in the program, depending on the amount owed and the state the client lives in.
While debt settlement can help reduce the total amount of debt owed, it may negatively impact a client's credit score. Clients should carefully consider the potential impact of debt settlement before enrolling in the program.
Credit Counseling
In addition to debt settlement, National Debt Relief also offers credit counseling services to help clients manage their finances. Credit counseling can help clients develop a budget, understand their credit score, and learn how to improve their credit.
National Debt Relief's credit counseling services are included with their debt settlement program, but can also be purchased separately.
Other Services
National Debt Relief also provides additional resources to help clients improve their financial situation. These resources include:
- Financial education: National Debt Relief provides educational resources to help clients learn about personal finance and money management.
- Debt consolidation loans: National Debt Relief can help clients secure a debt consolidation loan to pay off their debts.
- Bankruptcy services: National Debt Relief provides bankruptcy services for clients who are unable to settle their debts through other means.
It's essential to remember that debt settlement is not the right choice for everyone. Clients should carefully consider their financial situation and consult with a financial professional before enrolling in any debt relief program.
National Debt Relief Eligibility
National Debt Relief helps clients with $10,000 or more in unsecured debt. However, not everyone is eligible for their debt relief services. In this section, we'll take a closer look at National Debt Relief's eligibility requirements.
Unsecured Debt
National Debt Relief only helps clients with unsecured debt. Unsecured debt refers to debt that is not backed by collateral, such as credit card debt, medical bills, and personal loans.
Minimum Debt Amount
National Debt Relief requires clients to have at least $10,000 in unsecured debt to be eligible for their debt relief program. Clients with less than $10,000 in unsecured debt will not qualify for National Debt Relief's services.
Financial Hardship
National Debt Relief typically works with clients who are experiencing financial hardship and are behind on their payments. Clients who are current on their payments may not be eligible for National Debt Relief's services.
State Eligibility
National Debt Relief is available in most states but is not available in all states. Clients should check National Debt Relief's website to see if their state is eligible for their services.
Credit Score
National Debt Relief does not have a minimum credit score requirement to enroll in their debt relief program. However, the debt settlement process may negatively impact a client's credit score.
Conclusion
National Debt Relief has several eligibility requirements that clients must meet to enroll in their debt relief program. Clients should carefully consider their financial situation and consult with a financial professional before enrolling in any debt relief program.
National Debt Relief Pros and Cons
National Debt Relief has several pros and cons that clients should consider before enrolling in their debt relief program. In this section, we'll take a closer look at the advantages and disadvantages of National Debt Relief.
Pros
Debt Settlement
National Debt Relief's debt settlement program can help clients reduce their total debt owed by negotiating with creditors on their behalf. Debt settlement can also help clients avoid bankruptcy and get back on track financially.
Accreditation
National Debt Relief is accredited by the Better Business Bureau and has an A+ rating. This accreditation indicates that National Debt Relief is a reputable company that operates with transparency and honesty.
No Upfront Fees
National Debt Relief does not charge any upfront fees for their debt relief program. Clients only pay a fee after their debts have been settled.
Useful Resources
National Debt Relief provides clients with financial education resources to help them improve their financial situation. These resources include articles, videos, and webinars on personal finance and money management.
Cons
Negative Impact on Credit Score
Debt settlement can negatively impact a client's credit score. Clients who enroll in National Debt Relief's debt settlement program may see a decrease in their credit score.
High Fees
National Debt Relief charges a fee of 15% to 25% of the total enrolled debt for their debt relief program. This fee can be high, especially for clients with a large amount of debt.
Not Available in All States
National Debt Relief is not available in all states. Clients who live in states where National Debt Relief is not available will not be able to enroll in their debt relief program.
Only Helps with Unsecured Debt
National Debt Relief only helps clients with unsecured debt, such as credit card debt and personal loans. Clients with secured debt, such as a mortgage or car loan, will not be able to enroll in their debt relief program.
Conclusion
National Debt Relief has several pros and cons that clients should consider before enrolling in their debt relief program. Clients should carefully evaluate their financial situation and consult with a financial professional before making any decisions about debt relief.
National Debt Relief Reviews
National Debt Relief has received mixed reviews from clients and industry experts. In this section, we'll take a closer look at some of the reviews of National Debt Relief.
Better Business Bureau
National Debt Relief is accredited by the Better Business Bureau and has an A+ rating. The Better Business Bureau is a nonprofit organization that provides consumers with information about businesses and charities. The A+ rating indicates that National Debt Relief has a good track record of resolving customer complaints.
ConsumerAffairs
National Debt Relief has a 4.5-star rating on ConsumerAffairs, based on over 4,000 customer reviews. Many customers praise National Debt Relief for their helpful customer service and debt settlement program. However, some customers complain about high fees and negative impacts on their credit score.
Trustpilot
National Debt Relief has a 4.6-star rating on Trustpilot, based on over 9,000 customer reviews. Many customers praise National Debt Relief for their debt settlement program and helpful customer service. However, some customers complain about high fees and negative impacts on their credit score.
NerdWallet
National Debt Relief has a 3.5-star rating on NerdWallet, based on an independent review of their services. NerdWallet praises National Debt Relief for their debt settlement program but notes that debt settlement can be risky and negatively impact a client's credit score.
Forbes Advisor
Forbes Advisor gives National Debt Relief a 3.5-star rating, based on an independent review of their services. Forbes Advisor notes that National Debt Relief's debt settlement program can help clients reduce their debt but cautions that it may negatively impact their credit score.
Conclusion
National Debt Relief has received mixed reviews from clients and industry experts. Clients should carefully evaluate their financial situation and consider all factors before enrolling in National Debt Relief's debt relief program. It's also a good idea to research and read reviews from multiple sources to get a well-rounded view of the company's services.
National Debt Relief FAQs
National Debt Relief's debt relief program can be confusing for clients who are not familiar with the process. In this section, we'll answer some common questions about National Debt Relief's debt relief program.
How Does National Debt Relief's Debt Relief Program Work?
National Debt Relief's debt relief program works by negotiating with creditors on behalf of clients to reduce their total debt owed. Clients make monthly deposits into a dedicated account, which National Debt Relief uses to negotiate with creditors. Once a debt is settled, clients pay a fee to National Debt Relief.
How Long Does National Debt Relief's Debt Relief Program Take?
National Debt Relief's debt relief program typically takes two to four years to complete. The length of the program depends on the amount of debt enrolled and the client's ability to make monthly deposits into their dedicated account.
How Much Does National Debt Relief's Debt Relief Program Cost?
National Debt Relief charges a fee of 15% to 25% of the total enrolled debt for their debt relief program. The exact fee depends on the amount of debt enrolled and the state the client lives in.
Will National Debt Relief's Debt Relief Program Affect My Credit Score?
National Debt Relief's debt relief program may negatively impact a client's credit score. Clients who enroll in the program should expect to see a decrease in their credit score. However, National Debt Relief claims that the majority of clients with low credit scores graduate the program with an increase in their credit.
Can I Cancel National Debt Relief's Debt Relief Program?
Clients can cancel National Debt Relief's debt relief program at any time without penalty or cancellation fees. However, clients who cancel the program may not be eligible for refunds on fees already paid.
Conclusion
National Debt Relief's debt relief program can be a viable option for clients struggling with unsecured debt. Clients should carefully consider their financial situation and eligibility before enrolling in the program. It's also important to research and understand the program's fees, timeline, and impact on credit score before making a decision.
In Conclusion
National Debt Relief is a debt settlement company that has helped thousands of clients reduce their total debt owed. However, the company's debt relief program is not suitable for everyone. Clients should carefully evaluate their financial situation and eligibility before enrolling in the program. It's also important to consider the program's fees, timeline, and impact on credit score before making a decision.
We hope this article has provided valuable insights into National Debt Relief and its debt relief program. If you're interested in learning more about personal finance and debt relief, be sure to check out our other great content.
Thank you for reading!
Questions and Answers
Q.Who can enroll in National Debt Relief's debt relief program?
A.Clients with $10,000 or more in unsecured debt who are experiencing financial hardship.
Q.What is National Debt Relief's fee for their debt relief program?
A.National Debt Relief charges a fee of 15% to 25% of the total enrolled debt.
Q.How long does National Debt Relief's debt relief program take?
A.National Debt Relief's debt relief program typically takes two to four years to complete.
Q.Who accredits National Debt Relief?
A.National Debt Relief is accredited by the Better Business Bureau and has an A+ rating.
Q.What impact does National Debt Relief's debt relief program have on credit score?
A.National Debt Relief's debt relief program may negatively impact a client's credit score.
Q.How can clients cancel National Debt Relief's debt relief program?
A.Clients can cancel National Debt Relief's debt relief program at any time without penalty or cancellation fees.
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