National Debt Relief is a New York debt settlement company. Better Business Bureau (BBB) illustrates over 183 complaints against this debt settlement company, but yet they still maintain an A+ BBB rating and are an accredited debt relief company.
How is this possible that a company maintains an A+BBB rating if they have this many complaints? BBB ratings are not entirely based on how many complaints a company has; they look at the size of the company, how long a company’s been in business if the company is compliant with federal laws, and amongst other factors.
National Debt Relief is one of the largest debt settlement companies in the nation, so although it sounds like a massive amount BBB complaints against this company in comparison to their size, it’s not as bad as it sounds. Additionally, BBB requires debt relief companies to be compliant with federal laws. National Debt Relief has illustrated that they are compliant with laws. And although they have many BBB complaints, all complaints have been responded to promptly.
You’ll find many positive reviews about National Debt Relief across the internet also. As of 2020, National Debt Relief was rated #8 in the nation for debt relief, settlement and consolidation programs, by TCR.
Next to Freedom Debt Relief, National Debt Relief is one of the largest debt settlement companies in the nation.
Is the National Debt Relief Program Legitimate?
The National Debt Relief program is legitimate, but unfortunately, it also comes with many downsides. If you are seeking debt settlement services, National Debt Relief is a reputable company and will offer a legitimate service, but you should first explore other options.
To get a free consultation with a top-rated debt relief company near you, start by applying online here: https://trustedcompanyreviews.com/best-debt-consolidation/
The main downside with the National Debt Relief program is that to qualify; consumers must fall behind on their monthly payments and allow accounts to become delinquent to the point where they are eventually written off and sold to collection agencies. At that point, National Debt Relief negotiators will begin negotiating with creditors to settle each debt for less than the full amount owed. During this period when accounts are not getting paid, there’s a chance for clients to get sued. Credit card companies can issue a summons to go to court, and if this occurs, the debt settlement program will no longer work as effective and can end up costing more than what the consumers expected to pay.
Getting sued by creditors is one of the main downsides that come with the National Debt Settlement program. However, all debt settlement programs come with this downside, not just National Debt Relief’s plan.
Before using debt settlement, it’s always best to explore all debt relief programs.
You could avoid any adverse effect on your credit by using a debt consolidation loan to pay off your credit cards, but you must have a high credit score to qualify for a low-interest loan. Here are the top 10 debt consolidation loan companies for 2020.
How Much Does National Debt Relief Charge?
National Debt Relief charges a fee of 15% to 25% of the total debt you enroll in the program. The fee you pay depends on the state you live in and the amount of debt. Altogether, clients could end up paying approximately 75% of what they owe, including what the creditors get paid and the settlement fees the company charges.
How to Cancel National Debt Relief
With any debt relief program, you can easily cancel. National Debt Relief offers a simple form that needs to get filled out and submitted to them to withdraw. National Debt Relief also provides the secure cancellation method for clients where they simply need to call in and request to cancel.
National Debt Relief Disclosures
In small print on the bottom of National Debt Relief’s website, you will find disclosures – here they are:
“Please note that all calls with the company may be recorded or monitored for quality assurance and training purposes. Clients who can stay with the program and get all of their debt settled realize approximate savings of 50% before fees, or 30%, including National Debt Relief’s fees. We do not assume the debt, make payments to your creditors, or provide tax, bankruptcy, accounting, or legal advice. Depending on your state, we may be able to recommend a local tax professional or bankruptcy attorney. Read and understand all program material before joining the program, including potential adverse impact on credit rating.”
National Debt Relief Complaints
If you visit BBB.org here, you’ll see most of the complaints against National Debt Relief are related to:
- consumers paid thousands of dollars but didn’t get the results promised (not getting all of their debts settled and resolved)
- consumers canceled the program and ended up with debt that still had to get paid
- issues regarding getting a refund for money paid into the plan for debts that didn’t get settled and resolved
- tax consequences that consumers are having to deal with, claiming “National Debt Relief didn’t explain potential tax consequences.”
Before joining any debt relief program, make sure to clearly understand all of the potential downsides and how each disadvantage will get dealt with if they were to occur. Examine all fees and understand the total cost of the program. For more information on debt relief companies, visit the Top 10 National Debt Relief Companies for 2020.
National Debt Relief – Address
National Debt Relief is located at 180 Maiden Lane, 30th Floor, New York, NY 10038