As some creditors will only want to work with certain debt settlement agencies as they maintain a good relationship with them. However, when you find yourself with a debt that is unsecured from a wide range of financial products such as loans and credit cards, not all the companies have the ability to get the settlement figure across the board. This is where Accredited Debt relief comes to use which works with settlement companies in 32 states to get individual results on all your debts.
What is Accredited Debt Relief?
Accredited Debt Relief deals like a broker of debt settlement companies. It takes into consideration all your finances including your creditors, to link you to settlement agencies that can provide you the best possible solution. There are some requirements, which have to fulfill such as you, need to have a minimum of $7500 debt. It will then expect you to handover all your high balance credit cards. But then they leave an emergency card with you, which has a limit of $500.
Other settlement agencies take time to initiate the process and let you use the facility, which accrues unnecessary interest and penalties. But Accredited Debt Relief starts their work in 1-2 weeks having your account set up whereas with settlements starting to be made in 4-5 months. It should able to advise you, what to do if the creditors send your account to debt collection agencies? What legal steps can be taken by you for not making it very stressful?
Features of Accredited Debt Relief:
Terms are depending on the customers need:
The terms that are set are done according to the need of their client with full information collected with a fully comprehensive phone call with their agents. The customer needs to hand in all information about their creditor without missing out on anything. The company needs this information to link you to their trusting partners who have a good relationship with the creditor.
One Account to be paid in each Month:
You will have to set up a separate account that will need to be paid into each month, although Accredited is very flexible with any problems that can arise in the payment. You have to give a 5 days notice if there are any issues with the payment and the company can make the necessary arrangements. Missed, lower or delayed payments do have consequences in how much time you take to settle your debt. Though the company gives 12 to 48 months for the settlement of the debt with timely payments you can settle the in debt in 4-5 months.
Highly Trained Advisors:
The advisors that collect your payment are highly trained for this purpose. Further, they give you full detail regarding the FICO credit rating before you take the contract. Not only that, they also explain to you all the implications.
How does Accredited Debt Relief Work?
The website of the Accredited Debt Relief is very easy to use and most of the information collected by the advisors is done over the phone. They use E-mail to send information back and forth. The more timely you submit your paperwork, the earlier your account will be set up. After the account is set up and everything gets an approval, you will be given all the details regarding. Details like who is negotiating your settlements and how you can access your account.
Anytime you feel the need to stop your settlement, you can do so as it is your money at the end of the day. The average saving at Accredited Debt Relief is about 50% of the final figure. But then you have to pay the fees to the company so after that, the saving is between 18% and 25% depending on the balance of your original amount. On average you save up to 20% but this will hit your credit rating hard.
Advantages of Accredited Debt Relief:
- The length of the program is between 12 to 48 months, which is shorter than other settlement agencies giving an edge to Accredited Debt Relief.
- The company works with a wide range of partners, which have a good relationship with them, which increases the chances of the debt being settled in a short period of time.
- The company will not charge any fees if the settlement is not made. The customer does not have to pay any extra money even if the company does not make the settlement.
Disadvantages of Accredited Debt Relief:
- The main disadvantage is that there should be a debt of $7500 and if the debt is not that much then the company will not help in the settlement of the debt.
- The services of Accredited Debt Relief are not available in every state.
- This can also have a negative impact on your credit rating.
Accredited Debt Relief offers a wonderful product that can work with a list of negotiators who have a bona fide relationship with your own individual creditors. This could help in yielding better results than other debt settlement agencies. So, if you have a lot of unsecured debt with different providers Accredited is be a good option.