There are a few red flags that might make you want to look elsewhere.
Premier Debt Help is a debt settlement company that works with unsecured personal debt and claims to offer a 100% money-back guarantee. But its barebones website, lack of industry accreditations and minimal online reviews might make you want to look elsewhere.
Steven Dashiell is a credit cards writer at Finder. He's worked on 250 Finder articles and counting, helping readers embrace and maximize credit cards. Backed by nearly a decade of research and reporting experience, Steve's work can be seen on Debt.com, CreditCards.com and Lifehacker.
How much does it cost?
Premier Debt Help isn’t transparent about costs involved with its debt settlement service, other than mentioning it has a low monthly program payment. During your free consultation, ask about what fees and service charges you’re on the hook for so you understand the full cost of its program.
How much could I save with Premier Debt Help?
While the amount you can save depends on your specific situation, Premier Debt Help claims to have helped many clients pay off their debts for 30% of what they originally owed.
What are the benefits and drawbacks of Premier Debt Help?
Money-back guarantee. If Premier doesn’t settle your debt, you get 100% of your money back.
Quick results. On average, Premier Debt Help offers results in three years, which is on the faster side for debt settlement companies.
No info on minimum debt considered. You’ll have to sign up for Premier’s free consultation to see if you even have enough debt to qualify for its program.
Limited information on costs. You won’t know the costs involved with Premier’s debt settlement program until after your consultation.
Not accredited. Premier doesn’t have a page on the BBB or Trustpilot, nor is it accredited with popular industry and trade groups.
Offers only one service. Premier Debt Help only provides debt settlement services.
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.
What is Premier Debt Help?
Premier Debt Help is a New Jersey debt settlement company that can negotiate with creditors on your behalf. However, the company’s barebones website doesn’t detail exactly how much debt you need to qualify, costs involved or exactly how the process works. You’ll need to sign up for its free consultation to learn more.
What do clients say about Premier Debt Help?
Premier Debt Help doesn’t have a page on popular review sites like the BBB or Trustpilot. Though the customer testimonials on its website are all positive, it’s hard to trust those reviews given Premier Debt Help uses them as advertisements for its program.
Take caution when working with any company that has a minimal online presence, few customer reviews and a skimpy website — it’s difficult to know exactly what you’re getting into.
Is it safe to use Premier Debt Help?
How do I get started?
Follow these steps to apply for a free consultation with Premier Debt Help:
Go to the Premier Debt Help website.
Enter your first and last name, email address, phone number, number of debts and the amount you owe.
Click Get Free Consultation.
From there, a Premier Debt Help consultant should get in touch with you to discuss your situation and see how it might be able to help.
I’ve signed up. What happens next?
Premier Debt Help doesn’t list what happens after you enroll in its debt settlement program. However, if it’s like most programs, you’ll go through the following steps:
Create a payment plan. Set up a budget and decide how much you’d like to pay into your settlement account each month.
Make payments into your settlement account. Premier uses this account to pay off your creditors.
Premier Debt Help negotiates with your creditors. Ideally, it convinces your creditors forgive a portion of your debt, allowing you to pay the remaining debt in one lump sum.
Authorize payments from your settlement account. Premier will pay off your creditors, and likely deduct fees for its service — though it doesn’t mention these on its website.
How can I get in touch with Premier Debt Help customer service?
There are four ways to get in touch with Premier Debt Help’s customer service team. However, we tried calling the company multiple times and kept getting redirected to an answering machine.
Online message: Go to the Premier website and click Contact.
Mail: Premier Debt Help 4400 Route 8 South Suite 2100 Freehold, NJ 07728
It’s difficult to know whether Premier’s debt settlement program can help you without signing up for its free consultation. You won’t find much information on its website about how much debt you need to qualify or even the costs of signing up. And its lack of industry accreditations and online reviews make us more than a little wary.
Frequently asked questions.
No, Premier Debt Help only provides debt settlement services.
Many creditors continue to charge fees and interest during negotiations, though these disappear after the account is written off.
Though it’s possible for a creditor to sue during the negotiation process, it’s fairly rare.
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