Accredited Debt Relief Review – Forbes Advisor

Accredited Debt Relief is a company that helps people get out of debt. It offers various services, including debt consolidation, debt resolution and credit counseling. When you sign up for Accredited Debt Relief, a certified debt specialist will work with you to create a custom plan that fits your needs and budget. Accredited Debt Relief says it has helped thousands of people reduce their debt by up to 50%.

But is Accredited Debt Relief the right company for you? Here’s a closer look.

What Is Accredited Debt Relief?

Accredited Debt Relief is a debt relief company founded in 2011. It helps people to get out of debt by negotiating with their creditors to reduce the total amount they owe.

The company, which currently has an A+ rating from the Better Business Bureau (BBB), says it has helped over 200,000 people resolve over $1 billion in debt. If you’re struggling with debt, Accredited Debt Relief may be able to help you get back on track.

What Types of Debt Can You Settle?

Accredited Debt Relief only helps settle unsecured debts—debts that don’t have collateral attached to them. These include:

• Credit card debt
• Medical bills
• Personal and payday loans
• Private student loans

If you have a form of unsecured debt that isn’t mentioned above, you can chat with a debt relief specialist during your free consultation to see if it qualifies for enrollment. Accredited Debt Relief’s website states that it does not settle federal student loans or secured debts, including mortgages and auto loans.

How Does Accredited Debt Relief Work?

Expect to go through these steps if you enroll in Accredited Debt Relief’s program:

1. Sign up for a free consultation on Accredited Debt Relief’s website.
2. Meet with a certified debt specialist to review your financial situation and create a customized plan based on your goals, monthly budget and eligible debts. Your plan could include consolidating debts, securing lower interest rates or reducing the principal amount you owe.
3. Open an FDIC-insured savings account and make monthly deposits based on your customized plan.
4. Wait as your assigned debt specialist works with your creditors to adjust your loan terms.
5. If the specialist successfully reaches an agreement, they’ll contact you for approval and use the money in your dedicated account to pay off the loan.
6. The specialist repeats this process until all of your debts are either resolved or deemed ineligible for resolution.

The entire debt relief process can take anywhere from one to four years to complete, and it may take six to nine months to see your first settlement. So don’t expect quick results.

How To Sign Up for Accredited Debt Relief

If you have at least $10,000 in unsecured debt, you may be eligible for Accredited Debt Relief’s services. To start the process, call 800-497-1965, or follow these steps to fill out the form online:

1. Visit Accredited Debt Relief’s website.
2. Click to “Get Started.”
3. Enter the current amount of debt you owe.
4. Provide your name, phone number, email address and state of residency, then click to get your quote.
5. Wait for a debt relief specialist to contact you.

Once you complete your call, you can decide if you want to move forward based on your specialist’s recommendations.

Note that Accredited Debt Relief serves residents of 31 states and Washington, D.C. Check the company’s website for an updated list of states where residents can enroll.

What Fees Does Accredited Debt Relief Charge?

Accredited Debt Relief works on a “performance-based” structure, meaning you pay a fee only if the company successfully reduces your debt. This fee ranges from 15% to 25% of your total settled debt.

For instance, say you have $20,000 in enrolled debt and Accredited Debt Relief successfully settles one-quarter of it—meaning $5,000. If the company charges a 15% fee, you could end up owing $3,000 (15% of $20,000). If the fee is 25%, you could owe up to $5,000 (25% of $20,000).

The company deducts this fee from your dedicated account once you and your creditor(s) have agreed on a new resolution that’s less than what you owe and you’ve made at least one payment toward it. If the company is unable to reduce a specific debt, it’ll remove it from your dedicated account and adjust your fees accordingly.

Accredited Debt Relief Pros and Cons

Here’s a quick look at the best and worst aspects of Accredited Debt Relief.

Pros

• Free consultation lets you decide if it’s right for you
• Pay only if the company successfully reduces your debt
• A+ accreditation with the BBB and overwhelmingly positive customer reviews
• Can negotiate more favorable terms or get creditors to accept lump-sum settlements

Cons

• Must have at least $10,000 in unsecured debt to qualify
• Not available in every state
• No online portal or mobile app to track your progress
• Fee is based on total enrolled debts at the start of the program—not on the amount saved

Will Using Accredited Debt Relief Affect My Credit?

It’s highly likely that your credit score will go down when you start using any debt relief company, including Accredited Debt Relief. That’s because you’re typically advised to stop making payments on your enrolled debts while they’re being negotiated. This can temporarily tank your credit score, send some of your debts into collections and, in extreme cases, result in lawsuits.

But over time, if Accredited Debt Relief is successful in reducing the total amount of debt you owe, your credit score should tick back up as you pay off debts and make on-time payments.

Customer Reviews

Accredited Debt Relief has good customer reviews on the BBB’s website and Trustpilot.

• BBB: The company has an accreditation rating of A+ based on its years in business and willingness to resolve customer complaints. It also has an impressive customer rating of 4.81 out of 5. This is based on around 240 reviews, with most customers saying the team is helpful, patient and professional.
• Trustpilot: Accredited Debt Relief has a 4.9 out of 5-star rating on Trustpilot, based on more than 4,175 reviews. According to the site, 89% of people rated Accredited Debt Relief as “Excellent,” 9% rated it as “Great” or “Average” and less than 3% rated it “Poor” or “Bad.”

How To Contact Accredited Debt Relief

There are two ways to contact Accredited Debt Relief customer support if you run into issues.

• Email customerservice@acrelief.com
• Call 877-201-2548 on weekdays from 5 a.m. to 9 p.m. Pacific time and on weekends from 5 a.m. to 4 p.m. Pacific.

Bottom Line

Accredited Debt Relief is best for anyone who has at least $10,000 in unsecured debt—think credit cards, medical bills and payday loans—and wants to reduce the total amount they owe. But fees range from 15% to 25% of the total enrolled amount, and services aren’t available in at least 19 states.

If you’re on the fence about Accredited Debt Relief, see how it compares to the best debt relief companies before you make a decision.

Frequently Asked Questions (FAQs)