Bottom line: This debt consolidation company offers programs from 24 to 48 months, and savings on monthly payments up to 40% or more on eligible debts.
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Accredited Debt Relief review
Edited by Holly Jennings
- Minimum debt
- $10,000
- Typical turnaround
- 24 to 48 months
- Fees
- 15% to 25%
Our verdict
Shorter-than-average debt consolidation options — but with slightly lower savings than other companies advertise.
Accredited Debt Relief offers debt consolidation services to customers struggling with large amounts of debt, including debt settlement. Accredit Debt Relief matches you with the option that is best for you and your debt. Its fees are relatively standard compared to other debt relief providers and its average timeline ranges from 24 to 48 months. The company states that it can reduce its customers monthly payments by 40% or more on eligible debts.
Pros
-
Provides alternatives to bankruptcy that include debt consolidation and management.
-
Eliminates multiple creditors.
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Lower monthly payments may be achieved regardless of interest rate.
Cons
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Charges and fees vary by the company you're ultimately connected with.
Details
Product details
| Free quote or consultation | Yes |
| Services | Debt settlement |
| Minimum debt | $10,000 |
| Typical turnaround | 24 to 48 months |
| Direct or third-party negotiations | Direct |
| Fees | 15% to 25% |
| Types of debt | Unsecured. |
| Accreditations | AFCC, IAPDA, BBB |
| Ratings | BBB: A+, Trustpilot: 4.9/5. |
| Free resources or tools | None |
| Customer service | Phone, email, 24/7 chat and client dashboard |
What is Accredited Debt Relief, and is it legit?
Accredited Debt Relief is an arm of Beyond Finance and offers debt consolidation options including settlements, loans and credit counseling. Accredited Debt Relief is accredited with the American Fair Credit Council (AFCC) and the International Association of Professional Debt Arbitrators (IAPDA), a trade organization that sets standards for the debt relief industry. Accredited’s debt specialists are IAPDA-certified.
Please note, all consolidation options may impact credit score but the degree varies by option, and your credit health before working with Accredited Debt Relief.
Accredited Debt Relief reviews and complaints
| BBB accredited | No |
|---|---|
| BBB rating | A+ |
| BBB customer reviews | 4.88 out of 5 stars, based on 1761 customer reviews |
| BBB customer complaints | 76 |
| Trustpilot score | 4.9 out of 5 stars, based on 6,889 customer reviews |
| Customer reviews verified as of | 22 August 2024 |
Accredited Debt Relief gets overwhelmingly positive customer reviews on Trustpilot and the Better Business Bureau (BBB) website. Most positive reviews state compassionate and knowledgable customer service representatives that were around to help customers throughout the process.
BBB complaints reveal pushy, incessant sales calls from the company, despite potential customers asking to be removed from its list.
How does Accredited Debt Relief work?
Accredited Debt Relief offers multiple. Here’s how the process generally breaks down:
- Free consultation. Call in or fill out an online form for a consultation. A debt specialist helps you decide which debt consolidation program debt is right for you.
- Get matched with an option. You’ll receive options that fit your budget best.
- Follow your debt consolidation plan. Depending on which option you’re matched with you’ll follow instructions on how to pay down your debt.
Will using Accredited Debt Relief negatively impact my credit score?
Accredited debt relief offers multiple debt consolidation options. Keep in mind that enrolling in any debt relief program harms your credit score initially. However, it usually helps improve your credit in the long run because paying off debt lowers your debt-to-income ratio.
How much does it cost?
For Debt Settlement services, it charges a fixed fee of 15% to 25% of your enrolled debt at the time of settlement. For example, if you enroll $10,000 of credit card debt with an APR of 16% in a two-year program, you could expect to owe $13,742.19 if no settlements are made during the program. You might have to pay around $2,061 to $3,436.
The consolidation loan options offered by its affiliates range from $1,000 to $100,000, with rates from 4.9% to 35.99% and origination fees ranging from 1% to 6% of the amount financed. Accredited Debt Relief offers an example on their website. A person with a $23,760 personal loan, a 4.95% origination fee, a 48-month repayment term, and an interest rate of 18.00%, would pay around $10,917.72 over the life of the loan including your origination fee.
How much could I save with Accredited Debt Relief?
Savings generally range from 20% to 30% of your enrolled debt, with fees factored in at the time of settlement and before taxes. The IRS treats most settled debt like taxable income unless you’re financially insolvent at the time of settlement. If you aren’t exempt, you could end up saving almost nothing, depending on your tax bracket.
Read our guide to debt relief to make sure debt settlement is the right choice and compare other options.
Compare debt consolidation companies
Use this table to see how Accredited Debt Relief stacks to other debt settlement companies in terms of costs and requirements.
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Before you sign up with a debt relief company
Debt relief companies typically charge a percentage of a customer’s debt or a monthly program fee for their services. And not all companies are transparent about these costs or drawbacks that can negatively affect your credit score. Depending on the company you work with, you might pay other fees for third-party settlement services or setting up new accounts, which can leave you in a worse situation than when you signed up.
Consider alternatives before signing up with a debt relief company:
- Payment extensions. Companies you owe may be willing to extend your payment due date or put you on a longer payment plan if you ask.
- Nonprofit credit counseling. Look for free debt-management help from nonprofit organizations like the National Foundation for Credit Counseling.
- Debt settlement. If you can manage to pay a portion of the bill, offer the collection agency a one-time payment as a settlement. Collection agencies are often willing to accept a lower payment on your debt to close the account.
Frequently asked questions
What happens if I miss a monthly payment?
Call customer service at least five business days before your payment is due if you think you will have an issue making it. A customer service team member will discuss your options to get you back on track.
Why do I need a separate account for my monthly deposits?
By creating a separate account, you’re distancing your debt consolidation funds from your daily spending. This makes it easier to save and, by extension, complete the program.
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Anna Finder
Editor
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Anndy Finder
July 04, 2017
Hi Winnet,
Thanks for your question.
Your monthly repayment depends on the loan term. Fo example, using the loan calculator on the lender’s page, you will have an estimated monthly repayment of $59 if you get the maximum loan term of 4.5 years. But this is just an estimate and may also vary depending on your state.
You may want to directly get in touch with Accredited Debt Relief to get a free quote.
Cheers,
Anndy
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Winnet
July 03, 2017
I earn $400 per month so how much can be deducted from my salary ,if I borrow a loan of $5000