How Does National Debt Relief Work?
National Debt Relief is a debt settlement company that helps individuals and families struggling with unsecured debt such as credit card debt, personal loans, medical bills, and more. The company negotiates with creditors to reduce the amount of debt owed, often by as much as 50%. Clients make monthly payments into an escrow account, which is then used to pay off the negotiated debts. National Debt Relief charges a fee for its services, but this is typically a percentage of the amount of debt they are able to settle. The process can take anywhere from 24-48 months, depending on the amount of debt and the client’s ability to make payments into the escrow account. National Debt Relief also provides resources and education to help clients manage their finances and avoid future debt.
- BBB A+ Rating
- Minimum Debt $10,000
- No Minimum Credit Score
- $3 billion+ debt resolved
- BBB A+ Rating
- Minimum Debt $7,500
- No Minimum Credit Score
- $500 million debt resolved
Company Reputation
In the credit recovery sector, scammers can get very serious and so it is essential to find the best debt settlement companies around to help with your loan. This can be done using the CFPB database, which allows you to look for complaints from customers in debt settlements. Trustpilot provides an average rating of 4.7 stars from more than 50,000 users. Because their high review ratings reflect third-party ratings, National Debt Relief was awarded a high ranking for company reputation in our independent study.
What Are Some of National Debt Relief’s Online Features?
After registering via phone, clients in national debt relief will have access to the account online. It includes viewing payments for a debt owed by a student. The website lets national debt relief customers see how quickly payments progress toward paying the debt.
What Is the Impact on Your Credit Score?
If your debt is owed it can negatively affect the credit of your credit score. You may already be required to withhold money from creditors if you fail to pay back and it could also affect your ability to pay back. National Debt Relief offers no credit repairs or advice on the way to improve your credit. The goal of national debt relief review and recovery is ultimately to get rid of and clear all of your credit card debts to get back to restoring and building credit as soon as possible.
How Is National Debt Relief’s Customer Service?
You can call the Customer Services Department of National Debt Relief at 888-663-6379. Support is provided during these hours.
Customer Service
The advantages of contacting accredited debt relief companies are that they understand debt collection law in their own right. National Credit Relief says its debt counseling services are available 24/7 – 7 days, 7 days a week. The company provides email and phone support. For free debt consultations, you may contact a counselor between 8 am – midnight on weekends from 10 am – 10 pm EST. Existing customers can contact Customer Support via email from 9 am-8 pm, Tuesday through Saturday.
National Debt Relief Faqs
1. What is National Debt Relief?
National Debt Relief is a debt relief company that helps consumers struggling with debt to negotiate and settle their debts with creditors.
2. Is National Debt Relief Legit?
Yes, National Debt Relief is a legit debt settlement company that has helped thousands of consumers resolve their debt issues.
3. How does National Debt Relief work?
National Debt Relief works by negotiating with creditors to settle debts for less than the full amount owed. Consumers make monthly payments to National Debt Relief, which are then used to pay off the settlements.
4. What types of debt do National Debt Relief work with?
National Debt Relief works with unsecured debts, such as credit card debt, medical bills, personal loans, and collections accounts.
5. What are the qualifications for National Debt Relief?
Consumers must have unsecured debt of at least $7,500 and be experiencing financial hardship to qualify for National Debt Relief.
6. How much does National Debt Relief cost?
National Debt Relief charges a fee based on the amount of debt enrolled in the program, typically between 15% and 25% of the total debt.
7. Are there any upfront fees with National Debt Relief?
No, National Debt Relief does not charge any upfront fees.
8. Does National Debt Relief affect credit scores?
Enrolling in a debt relief program may have a negative impact on credit scores, but National Debt Relief works to minimize the damage by negotiating settlements.
9. How long does it take to complete the debt relief program with National Debt Relief?
The length of the program varies depending on the amount of debt enrolled and the consumer’s ability to make monthly payments. Typically, the program takes between 24 and 48 months to complete.
10. Can consumers still use credit cards while enrolled in the National Debt Relief program?
Consumers should not use credit cards while enrolled in the program as it could jeopardize the negotiations with creditors.
Glossary
1. Debt relief: A process of reducing or eliminating the amount of debt owed by an individual or organization.
2. National Debt Relief: A debt relief company specializing national debt relief specializes in helping individuals and businesses resolve their debt issues.
3. Legit: A slang term used to describe something that is genuine or legitimate.
4. Credibility: The quality of being trustworthy and believable.
5. BBB: Better Business Bureau, a non-profit organization that rates businesses based on their trustworthiness and customer service.
6. Accreditation: A process of granting official recognition to a business or organization based on certain criteria.
7. FTC: Federal Trade Commission, a government agency that regulates business practices and protects consumers from fraudulent activities.
8. Settlement: An agreement between a creditor and a debtor to resolve a debt issue by accepting a reduced monthly payment amount.
9. Debt management plan: A program that helps individuals manage their debt by creating a budget and negotiating with creditors to reduce interest rates and fees.
10. Debt consolidation: A process of a debt consolidation loans combining multiple debts into a single payment with a lower interest rate.
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11. Credit score: A numerical value representing an individual’s creditworthiness and ability to repay debts.
12. Interest rate: The percentage of a loan that is charged as interest over a certain period of time.
13. Unsecured debt: A type of debt that is not secured by collateral, such minimum debt such as credit card debt.
14. Secured debt: A type of debt that is secured by collateral, such as a home or car loan.
15. Debt-to-income ratio: The percentage of an individual’s income that is used to pay off debt.
16. Bankruptcy: A legal process of declaring oneself unable to repay debts, which can result in the discharge of some debts but can also have long-term consequences for credit and financial stability.
17. Consumer advocacy: The promotion and protection of consumer rights and interests.
18. Transparency: The quality of being open and honest about business practices and financial information.
19. Good faith: An honest and sincere intention to act fairly and ethically in business dealings.
20. Debt relief scams: Fraudulent schemes that prey on individuals struggling with debt, promising unrealistic or illegal solutions to their financial problems.
21. Debt Settlement Program: A program designed to give debt relief services help individuals or businesses negotiate with creditors to settle their debts for less than the full amount owed.
22. Financial Planning: The process of setting financial goals and creating a plan to achieve them, including managing debt and improving credit scores.
23. American fair credit council: The American Fair Credit Council is an organization that aims to promote fair and ethical debt settlement process and practices in the debt settlement industry in the United States.
24. Debt free: Debt free refers to a financial state in which an individual or organization has no outstanding debts or obligations to pay back.
25. Professional debt arbitrators: Professional debt arbitrators are individuals or companies that specialize in negotiating debt settlements between debtors and creditors. They work to find a mutually beneficial solution that allows the debtor to get out of debt and repay their debt while also satisfying the creditor’s financial needs.
26. Federal student loans: Federal student loans are loans provided by the federal government to students to help pay for college or other higher education expenses. These loans typically have lower interest rates and more flexible repayment options than private loans.
27. Business debts: Business debts refer to the amount of money a business owes to creditors or lenders, which may include loans, credit card balances, and other financial obligations. These debts are a common aspect of operating a business and can impact its financial health and ability to grow or operate effectively.
