Accredited Debt Relief is a top-rated debt resolution company with above-average customer reviews. According to the company, customers can only settle their debt for 55% of what they owe (before fees) and be out of debt in 24 to 48 months.
However, debt settlement can be risky and the fees and tax consequences can be significant. Before moving into debt settlement, explore other options, such as debt consolidation or a debt management program.
Rates and costs listed are as of April 15, 2024 and are subject to change.
Debt relief credited
| Eligibility Requirements: | Minimum $1,000 |
| Commissions: | 25% of the registered debt |
| Judgments: | BBB A+ |
| Accreditations: | AADR |
| Savings: | 45% of the registered debt (before commissions) |
| Time: | 24-48 months |
Types of Debt Credited debt relief helps you pay off
Credit debt relief can help you deal with unsecured debt, which is debt that involves no collateral. Other forms of debt, such as auto loans or mortgages, and federal student loans are not eligible.
How Credited Debt Reduction Fees Work
With Accredited Debt Relief’s debt settlement program, you only pay a fee once a settlement is reached. Typically, the company charges 25% of the written debt.
For example, let’s say you have $10,000 in outstanding debt. Accredited Debt Relief successfully negotiated a $6,000 settlement, so you pay off your debt and save $4,000. However, you have to pay the company 25% of your enrolled debt, or $2,500, so your savings actually amounts to $1,500.
How working with credit debt relief affects your credit score
When working with any debt relief company, including accredited debt relief, there can be a negative impact on your credit. For debt settlement to work, you need to stop making payments. Your creditors will report missed payments to the major credit bureaus, and payment history can significantly damage your credit.
Credited debt reduction ratings
Accredited Debt Relief has an A+ rating from the Better Business Bureau and a TrustScore of 4.9 out of five based on over 6,000 reviews with TrustPilot.
How much can I save by using credited debt relief?
Debt settlement can allow you to eliminate your debt for less than you owe. Accredited Debt Relief reported that customers typically pay off their balances by 55% of the written debt before fees.
How long does it take for credited debt relief to pay off debt?
According to the company, customers typically take 24 to 48 months to complete the program. The time it takes depends on how much debt you have, your creditors’ willingness to negotiate, and how much money you can dedicate to debt settlement.
Other accredited debt relief services offered
In addition to debt relief or debt settlement; Accredited Debt Relief also offers debt consolidation loans through its affiliate partners. With debt consolidation, you use a personal loan to pay off existing debt. If you have good credit, you could potentially qualify for a loan with a lower rate than you have on your existing credit cards and other debts.
Debt consolidation makes sense for those who can afford their current payments and who have good credit and are looking to save money or pay off their debt faster.
Are their risks with debt resolution with debt relief credited?
Accredited Debt Relief has great customer reviews, but potential customers should be aware that there are risks to debt settlement.
To qualify for debt settlement, you must have sufficient cash to make a lump sum settlement offer. For those who struggle to make ends meet, saving enough money to pay off their debts can be difficult. And you stop making your debt payments while the debt settlement company negotiates with your creditors, causing significant damage to your credit score.
Even if the company manages to negotiate a settlement, there could be substantial tax consequences; the repaid debt is taxable as income.
Accredited Debt Relief’s reputation for debt resolution
Credited debt relief is highly regarded in the debt settlement industry. It is accredited by the American Association for Debt Resolution (AADR) and has great reviews from previous customers on TrustPilot.
Is Credited Debt Relief Right for You?
If your debt has reached a level that seems unplayable and your accounts have gone into collections, debt settlement through credit debt relief is a potential solution. You may be eligible for debt settlement or consolidation services, which help you save money and get out of debt in 24 to 48 months.