Interestingly, this company also claims that debt settlement can be facilitated by its "bulk negotiation software." Based on their relationships with crucial creditor networks, this initiative enables them to submit your accounts for settlement through several agreements.
In either instance, using American Debt Relief is gratis up front; instead, you merely pay a percentage-based charge once your obligations are settled. Finally, they claim that their strategy can shorten the time it typically takes to pay off high-interest credit card debt by 24 to 48 months.
Debt settlement only works if you stop making credit cards and other debt payments. As you move through your program, more interest and fees will be added to your loans, and making late payments will lower your credit score.
Presented Benefits
Using the client dashboard, you may control your program and monitor your progress in real-time: Not many debt relief companies offer a customer dashboard, but American Debt Relief does. You may monitor the development of your software and observe how it's going with the help of this dashboard.
Request a free debt consultation to get started. By requesting a free debt assessment, you can determine if debt settlement is your best option and discover more about how your specific program might function.
There are no upfront fees; instead, a performance-based fee is charged once each debt is settled: American Debt Relief does not disclose its fee percentage and only collects fees depending on performance and only after each debt is settled.
Cons Explanation
Cons Explanation does not offer a fee estimation in advance. In contrast to many other debt settlement companies, American Debt Relief does not publicize expenses in the 15% to 25% range for each of your paid debts.
The only states where American Debt Relief is not available are California, Colorado, Delaware, Florida, Illinois.
Debt Types Are Examined
American Debt Relief's website primarily focuses on credit card debt. However, debt settlement can be utilized to pay off any unsecured debt. This includes any credit line or loan without a property pledge. The following is a list of the main types of unsecured debt that American Debt Relief handles:
A Credit Card Debt
Credit card debt can be particularly challenging because of its high-interest rates. After suspending payments and participating in American Debt Relief's debt settlement program, you will have the opportunity to open special savings account that you can use to settle credit card debt for a portion of what you owe.
Medical Costs
Additionally, you can use this service to assist you in paying off medical debt, such as unpaid balances owed to other healthcare providers and hospital and physician expenditures. American Debt Relief will help you pay off these debts more quickly and inexpensively.
Personal Loans
Debt settlement may also be an option for unsecured personal loans. This includes payday and personal loans obtained from banks, credit unions, or online lenders.
Client Onboarding
To become a client of American Debt Relief, there is no minimum debt requirement. You must be going through "bona fide financial trouble" to qualify.
If you sign up for a debt settlement program with American Debt Relief, the procedure will start with a free debt assessment. Over the phone, a debt relief professional will talk with you over the phone about your situation and set out the best action plan. There is no obligation during this session; you can decide if debt settlement is your best option.
Following that, clients receive a debt settlement plan that can aid in debt repayment within 24 to 48 months and a predetermined monthly savings target.
Customer Support
Due to the company's team of Debt Resolution Specialists, who have undergone training in debt settlement and debt collection laws and regulations, customers may anticipate receiving professional assistance from American Debt Relief. Along with a personalized debt settlement plan, the organization also offers you the chance to ask questions and get expert guidance.
American Debt Relief does have a customer dashboard that sets them apart, despite not having a mobile app or an online chat feature. You can reach the company by calling most days of the week. Customer service is available via phone from 8 a.m. to 8 p.m. CST, Monday through Friday, and from 9 a.m. to 3:30 p.m. CST, on Saturday.
