Debt relief companies thoughts

Debt relief companies like Credit Associates help their clients navigate the process of trying to settle their debts with creditors. These programs typically accept participants who have fallen behind on their unsecured debts, like credit cards, but have not yet defaulted.

The debt settlement process typically goes something like this: Clients make a monthly payment into a special account, the amount of which is customized based on their financial situation and the amount of outstanding debt they have. This goes on for as long as is needed to accumulate a sufficient sum to use in negotiations, often 24 months or longer.

Then professionals from the company contact creditors one by one and negotiate — starting with a low offer and moving upward until the creditor hopefully agrees to count a partial payment as a full one, provided it arrives in a timely manner. The funds are transferred from the special account and the creditor will then report the debt as settled to credit reporting bureaus.

Finding a good debt settlement company can make or break this experience and the outcomes clients are able to achieve. Are you considering working with Credit Associates for debt relief? Here are what some of the reviews are saying about this company.

Best Company Reviews

Best Company gives Credit Associates an overall score of 8.6 out of 10. Some of this company’s positive qualities include:

Offering free consultations up front so consumers can ask questions and get a feel for whether this debt settlement program may be a good fit for their situation.

Giving clients 24/7 online access to their own accounts so they can check progress.
Having accreditation from the American Fair Credit Council (AFCC) and the International Association of Professional Debt Arbitrators, meaning it must adhere to industry best practices.
Only taking fees based on performance after reaching a settlement; never requiring fees up front.

Some of the negative qualities called out in this review include its exclusion of eight U.S. states and its lack of transparency about fees and eligibility.

Bills.com Reviews

The Credit Associates reviews from Bills.com give this company a 4 out of 5 stars.

One big draw for working with a firm like Credit Associates is its proven history of negotiating better debt terms for thousands of clients. Another positive is that clients are able to access their online account anytime or reach phone representatives six days per week to ask questions or voice concerns.

Again, the lack of concrete information about exactly how much clients can expect to pay in fees or how much clients save on average can be frustrating for some. As Bills.com notes, this company’s website offers an estimated savings calculator that uses 35 percent savings off the original debt as the default example. However, this is just one scenario and clients must be aware their results can differ.

Trustpilot Reviews

More than 9,000 Trustpilot reviews from consumers give Credit Associates 4.9 out of 5 stars. Many of the reviews highlight the helpful and friendly customer service team.

A few of the less-than-positive reviews cite clients having different expectations going into the program than what transpired once they had enrolled — like the length of time it would take to settle. This speaks to the importance of understanding how the program works, what risks you might face and what results you might achieve before signing up.

Seeking out debt settlement reviews, like those available for Credit Associates, can help you understand the experience of working with a certain debt relief firm before officially signing up. This is a big financial commitment to make that will last for years, so it’s important to make sure it’s the right step.