Updated: Sep 13, 2024
Accredited Debt Relief Review
Estimated read time: 7 minutes
You Are Not Alone
If you're like many other Americans, you spend a lot of time worrying about money and bearing the weight of financial stress. The feeling of helplessness is both debilitating and isolating, but the truth is you are not alone.
77% of Americans Feel Anxious About Their Financial Situation
Millions of Americans like you struggle daily with the same financial fears and anxieties you are feeling. According to the Mind over Money survey by Capital One and The Decision Lab, 77% of Americans report feeling anxious about their financial situation.
You Can Stop Debt From Controlling Your Life
Unfortunately, thoughts alone won't resolve your financial troubles. You must take action, and consulting a Certified Debt Specialist at Accredited Debt Relief is a great first step.
"A hundred wagon loads of thoughts will not pay a single ounce of debt."
-Italian proverb
Accredited Debt Relief Can Help
Accredited Debt Relief has over ten years of experience in the financial services industry and specializes in helping people get out of debt by working with creditors to reach new terms. When you work with the team at Accredited Debt Relief, they will prioritize your needs and help you with a customized plan to resolve your debts faster and more affordably.
Accredited Debt Relief can help you:
- Reduce what you owe significantly
- Lower and consolidate monthly debt payments
- Get out of debt in 24 to 48 months
Why People Love Accredited Debt Relief
Clients love how the team at Accredited Debt Relief is focused on making them feel comfortable and confident throughout the debt relief process.
"My debt consolidation specialist was very kind and patient. I felt very comfortable sharing my financial struggles with him. This is the first time I feel like I can breathe and enjoy life again."
– Khristy, Trustpilot
"I felt very comfortable with my decision to use this company. My debt consolidation specialist made me feel both relaxed and comfortable during the entire process."
-M. Brandon, Trustpilot
Clients also report that the team at Accredited Debt Relief is always friendly and knowledgeable, answering questions and providing an outstanding client experience.
"My debt consolidation specialist was very knowledgeable and thorough, explaining the process to me. She answered all of my questions and made me feel at ease. She also explained her own personal experience dealing with debt. I truly appreciated her guidance."
-Rhonda, Trustpilot
Debt Relief Can Significantly Reduce Your Monthly Payments
Accredited Debt Relief's program is designed to provide instant relief customized to every client's unique financial needs. Combining and lowering monthly payments helps many clients reduce their financial stress and feel confident meeting other financial obligations.
"The freedom of one payment is amazing! I no longer have anxiety about how I will pay the bills and buy food. Do this today! You won't regret it!"
-Tracy, Trustpilot
How it Works
- Get a Quote: Before enrolling in a program with Accredited Debt Relief, you should complete a short online form (available here) and a consultation call. During the call, a Certified Debt Specialist will review your financial situation and give you a savings estimate and detailed information about your financial relief options based on your total enrolled debt, monthly budget, and overall financial goals.
- Enroll in the program: Once you agree to and enroll in your customized program, the team at Accredited Debt Relief will help you open an FDIC-insured Dedicated Account (also known as an "escrow" or "settlement" account) that you fully own. You'll make monthly deposits into this account, which will later be used to pay your resolved debts.
- Follow all program guidelines: Accredited Debt Relief will begin working with your creditors to reach more favorable terms. While this is happening, they recommend that you focus on making your monthly deposits and follow all program guidelines, like not using any open credit cards, lines of credit, or personal loans enrolled in your program.
- Approve new terms: Once they reach a new agreement with your creditors, they will contact you for approval. Funds built up in your Dedicated Account will be used to pay creditors according to the new terms. Once the new terms are paid off, your debt with the creditor is considered resolved. This process will repeat until all of your enrolled debts are resolved.
Accredited Debt Relief's Reputation
Accredited Debt Relief is one of the most highly rated and accredited debt relief services we've reviewed. They have a 5-star rating on Trustpilot.com, an A+ Rating with the BBB, and accreditation from the American Fair Credit Council and Consumer Debt Relief Initiative.
Their excellent reputation includes:
- A+ rating from the Better Business Bureau
- 4.9/5 stars on Trustpilot from more than 4.5k reviews
- Membership in the American Fair Credit Council
- Membership in the Consumer Debt Relief Initiative
Biggest Consumer Complaint
Time To First Settlement
After enrollment, there is a necessary waiting period before negotiations can begin on enrolled accounts. In most cases, clients will see their first settlement within 3 to 6 months after enrollment and additional settlements every 3 to 6 months after that. Clients typically complete the program in 24 to 48 months, depending on the amount and types of debt they have enrolled.
Some clients do not feel comfortable with how long this process takes. Accredited Debt Relief cannot guarantee that debts will be resolved for a specific amount or within a specific timeframe.
Frequently Asked Questions
What is a debt resolution program?
Debt resolution (also known as debt settlement, negotiated debt settlement, or debt negotiation) is a process where a company works on behalf of its client to secure more favorable terms with creditors or debt collectors.
The debt resolution company has two goals when securing new terms and agreements with creditors:
- Reduce the overall amount you owe
- Resolve the debt more quickly than you would on your own
While that may seem too good to be true, the debt resolution process is pretty standard for creditors. They know that clients facing hardship may never pay the debt or decide to declare bankruptcy, so it's in the creditor's interest to agree to different terms rather than getting no money at all.
How much can I expect to save when participating in the program?
While individual results do vary, the average amount of debt that clients pay on their resolved debts is 55% of their enrolled debt. This number excludes Accredited Debt Relief fees, which are based on a percentage of the original enrolled debt ranging from 15-25%, depending on the state.
What type of debt can Accredited Debt Relief help me with?
Accredited Debt Relief only works with debts without collateral, also known as unsecured debts. Credit card debt, medical bills, and payday loans are all examples of unsecured debt. Debts with collateral attached, like mortgages and car loans, are not eligible for debt resolution programs. They are also unable to assist with federal student loans.
When will I have my debts paid off?
While programs can vary depending on your unique financial situation, the average debt resolution program lasts 24 to 48 months. Your program's length will depend on a few factors, including how much money you deposit in your account every month. The more money you can add to your Dedicated Account, the quicker your debts can be resolved.
Making monthly payments to your Dedicated Account is an important part of Accredited Debt Relief's resolution program; missing monthly payments can slow the process or jeopardize existing settlements.
What is a Dedicated Account?
A Dedicated Account is generally an account that is used to save money for a larger purchase or specific goal. When participating in an Accredited Debt Relief program, the money in your Dedicated Account will be used to pay off your resolved debts. Once you're enrolled, their team will help you open an FDIC-insured Dedicated Account where your funds will be deposited.
Who controls my Dedicated Account?
You do! The reason for setting up this new account, rather than putting your monthly deposits into an existing bank account, is to keep those debt resolution funds separate from your other money. If you ever withdraw from the program, the remaining funds in your Dedicated Account, minus banking, third-party, and earned debt resolution fees, are yours to keep.
What happens if I miss monthly payments?
They understand that life might throw you a financial curveball, and you may need to adjust your payment schedule if the unexpected happens. That's perfectly okay, and they're happy to work with you to make any needed adjustments. Be sure to contact their Client Success Team at least five days before your scheduled deposit date so that they can pause any scheduled electronic withdrawals.
Is Accredited Debt Relief available in my state?
Accredited Debt Relief is licensed or operating in Alabama, Alaska, Arizona, Arkansas, California, Colorado, Delaware, Florida, Idaho, Indiana, Iowa, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Mexico, New York, North Carolina, Oklahoma, Pennsylvania, South Dakota, Tennessee, Texas, Utah, Virginia, and Wisconsin.
Accredited Debt Relief is not available in Connecticut, Georgia, Hawaii, Illinois, Kansas, Maine, New Hampshire, New Jersey, North Dakota, Ohio, Oregon, Rhode Island, South Carolina, Vermont, Washington, West Virginia, and Wyoming.
Final Thoughts
Accredited Debt Relief offers a proven service to help match its clients with personalized programs to reduce their unsecured debt.
In your initial consultation, they give you a savings estimate and detailed information about your financial relief options based on your total enrolled debt, monthly budget, and overall financial goals.
Many of the testimonials from those who have used Accredited Debt Relief's services have noted how thorough, compassionate, and helpful their consultants are. In our opinion, their proven track record and excellent ratings make them a great choice for people who need relief from their debt.