Accredited Debt Relief works with clients to settle most types of unsecured debt, including:
- Credit card debt.
- Personal loans.
- Payday loans.
- Private student loans.
- Medical bills.
- Repossession balances.
Secured loans, such as car loans or home loans, are not eligible for the program.
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The process begins with a free phone consultation to assess your financial situation and customize a plan. You then open a savings account and make monthly deposits to go toward paying off your debts. This account stays in your control. Next, Accredited Debt Relief negotiators secure settlement agreements with your creditors and decide which accounts to settle first using the funds in your savings account. When the creditor agrees to a settlement, you approve it, and once it’s paid in full, that debt is “resolved.”
Accredited Debt Relief charges a fee of 15% to 25% of the total amount of debt enrolled, and fees may vary by state.
Accredited Debt Relief serves clients who have a proven financial hardship and eligible unsecured debts. A minimum of $10,000 in eligible unsecured debt generally is required to enroll, but the average client has between $15,000 and $30,000 in debt and enrolls between four and eight debt accounts.
No minimum or maximum credit score is required, although someone with a higher credit score might benefit from an option other than debt settlement.
Accredited Debt Relief is not available in all states. Check its website to see if your state is eligible.
Accredited Debt Relief has an A+ rating with the Better Business Bureau and is a BBB-accredited company. Overall, Accredited Debt Relief reviews are positive on Trustpilot, with a rating of 4.8 out of 5. The Consumer Financial Protection Bureau showed two complaints about Accredited Debt Relief in 2020, and the company provided a timely response to both.
Reach customer service by calling 877-201-2548 from 5 a.m. to 9 p.m. Pacific Time Monday through Friday and 5 a.m. to 4 p.m. PT on weekends, or by sending an email to customerservice@acrelief.com.
Application and enrollment can be completed online, and, once enrolled, accounts can be managed online.
Q. Do debt relief programs affect your credit score?
A. Debt relief programs generally ask you to stop making payments while they attempt to reach a settlement. Since payment history is the most important credit factor, accounting for 35% of your credit score, this can have a detrimental impact. Once you do settle, your credit report gets another strike against it because a settled account gets reported to the credit bureaus as “paid-settled.” However, your credit score may improve over time as your debts are resolved.
- People who have $10,000 or more in unsecured debt.
- People who are facing financial hardship and have more debt than they can pay off in the next two to four years.
- People who already have a lower credit score.
