Pacific Debt Relief has a long-standing reputation for helping people get out of debt, and there is no evidence to suggest that they engage in any fraudulent or unethical practices. As with any financial service, it is important to do your due diligence and read reviews before signing up for their services. However, if you are in need of debt relief and are looking for a reputable company to work with, Pacific Debt Relief may be a good option to consider.

How much does it cost?

Pacific Debt, Inc. is a debt settlement company that charges an annual fee based on a percentage of the enrolled debt. The fee ranges from 10% to 15%, and it is added to the monthly payments. However, there is no upfront payment required, and the fees cannot be paid in a lump sum. For instance, if a customer settles $15,000 credit card debt over three years, their payments may increase to $22,773.99, depending on the settlement arrangement.

Frequently Asked Questions (FAQs)

Is Pacific Debt Relief a legitimate company?

Yes, Pacific Debt Relief is a legitimate company that has helped thousands of people successfully resolve their debt.

How long has Pacific Debt Relief been in business?

Pacific Debt Relief has been in business since 2002 and has helped over 20,000 clients become debt-free.

Are there any upfront fees to work with Pacific Debt Relief?

No, Pacific Debt Relief does not charge any upfront fees to work with them. They only charge a fee once they have successfully negotiated a debt settlement on your behalf.

How does Pacific Debt Relief negotiate with creditors?

Pacific Debt Relief negotiates with creditors to settle your debts for less than what you owe. They have established relationships with creditors and use their experience and knowledge to negotiate on your behalf.

How Does A Debt Settlement Company Work?

A debt settlement company works by negotiating with creditors on behalf of their clients to reduce the amount of debt owed. The company will typically have the client stop making payments to their creditors and instead make payments to the settlement company. The settlement company will then use this money to negotiate with the creditors to accept a lower amount as payment in full.

How much will I save by working with Pacific Debt Relief?

The amount you will save by working with Pacific Debt Relief varies depending on your specific situation. However, they typically negotiate settlements for 50% or less of your total debt amount.

Will working with Pacific Debt Relief negatively impact my credit score?

Yes, working with Pacific Debt Relief will have a negative impact on your credit score. However, if you are already struggling to make payments on your debts, your credit score may already be negatively impacted.

How long does it take to become debt-free with Pacific Debt Relief?

The amount of time it takes to become debt-free with Pacific Debt Relief varies depending on your specific situation. However, most clients become debt-free within 24-48 months.

Will Pacific Debt Relief work with all of my creditors?

Pacific Debt Relief works with most unsecured creditors, including credit card companies, medical bills, and personal loans. However, they are not able to work with secured debts like mortgages or car loans.

What happens if I miss a payment with Pacific Debt Relief?

If you miss a payment with Pacific Debt Relief, it could negatively impact your debt settlement agreement. However, they will work with you to find a solution and get you back on track.

Is Pacific Debt Relief accredited by any industry organizations?

Yes, Pacific Debt Relief is accredited by the American Fair Credit Council (AFCC) and the International Association of Professional Debt Arbitrators (IAPDA).

Glossary

1. Pacific Debt Relief: A debt management company that provides debt relief services to individuals struggling with debt.
2. Scam: A fraudulent or deceptive scheme or operation designed to cheat or deceive people out of their money.
3. Debt consolidation: The process of combining multiple debts into one monthly payment with a lower interest rate.
4. Debt settlement program: The process of negotiating with creditors to settle debts for less than the full amount owed.
5. Creditors: Companies or individuals to whom money is owed.
6. Debt relief: The process of reducing or eliminating debt through various methods.
7. BBB accreditation: Accreditation from the Better Business Bureau, which indicates that a company meets certain standards of trust and integrity.
8. Consumer protection laws: Laws designed to protect consumers from fraudulent or deceptive business practices.
9. Debt management plan: A plan that helps individuals manage their debts by consolidating them into one monthly payment.
10. Debt counseling: Counseling services that help individuals manage their debts and improve their financial situation.
11. Financial hardship: A situation in which an individual is facing financial difficulties or struggles to make ends meet.
12. Debt validation: The process of verifying the validity of a debt and ensuring that it is not fraudulent or inaccurate.
13. Debt relief scam: A fraudulent scheme designed to cheat individuals out of their money by promising debt relief services that are never delivered.
14. Debt relief: A program that helps individuals reduce or eliminate their debt through various methods.
15. Debt relief companies: A company that provides debt relief services to individuals struggling with debt.
16. Debt negotiation: The process of negotiating with creditors to reduce the amount of debt owed.
17. Debt settlement company: A company that specializes in negotiating with creditors to settle debts for less than the full amount owed.
18. Debt relief options: Various methods of reducing or eliminating debt, including debt consolidation, debt settlement, and bankruptcy.
19. Bankruptcy: A legal process in which an individual or business declares that they are unable to pay their debts and seeks protection from creditors.
20. Debt relief attorney: An attorney who specializes in debt relief and provides legal advice and representation to individuals struggling with debt.
21. Debt consolidation loans: a type of loan that allows individuals to combine multiple debts into one single loan with a lower interest rate
22. Debt specialist: a professional who offers advice and guidance on how to manage and reduce debt.