Table of Contents
Find out more information about their process and eligibility requirements to see if they’re right for you.
Debt Relief Process
National Debt Relief provides an extremely strategic process when settling your debt. Like other debt settlement companies, they require you to make monthly payments into an FDIC-insured account that is separate from your usual personal checking or savings account.
Then, they advise you to stop making any payments to your creditor and avoid communicating with them at all.
Even if you receive aggressive phone calls or letters, you’re advised to ignore them. After 90 to 180 days, the accounts should be charged off, meaning the creditor has taken your debt as a tax write off.
At that point, National Debt Relief reaches out to the creditor on your behalf. They’ll provide evidence that you’re unable to make the payments and also indicate that you’re willing to negotiate a settlement.
Next, the creditor will likely perform their own due diligence on your payment history to your other creditors. Since you haven’t been paying your other debts, the creditor can only assume that you’re unable to make your payments.
They will then provide a settlement opportunity, which they’ll be more likely to accept with all the new information they’ve acquired.
Depending on how much the settlement amount is for, National Debt Relief will release the appropriate amount of funds to the creditor. Most clients who stay in the program and reach a settlement save about 50% before fees, and 30% including fees paid to National Debt Relief. The programs typically last between two and four years.
There are a few requirements you must meet in order to qualify to receive assistance from National Debt Relief. First, you must have at least $7,500 in unsecured debt. Your debt can come from a range of sources, such as credit cards, department store cards, medical bills, personal loans, credit unions, and collections accounts.
In some instances, National Debt Relief may be able to help settle debts related to secured debts or private student loans.
The following sources of debt cannot be qualified as part of your debt settlement plan: auto loans (including cars, trucks, vans, and motorcycles), federal student loans, personal loans from your current bank, mortgages, or child support.
In addition to your debt qualifications, you shouldn’t be able to afford your minimum payments on your credit cards and other accounts. In most instances, you’ve either already fallen behind on your payments or are about to.
You probably don’t see much room for making progress with your finances and are even looking for an alternative to filing for bankruptcy. Some common financial hardships faced by clients include unemployment, divorce, medical expenses, a death in the family, or some other type of loss of income.
If you meet some or all of these requirements, then you’re a likely candidate to potentially benefit from National Debt Relief’s services.
Just realize that this is a serious undertaking that involves damaging your credit and opening yourself up to the potential of additional collections fees and even lawsuits. It’s definitely a solution only to the most extreme cases of financial hardship.
Applying for National Debt Relief’s services can be done in as quickly as 30 seconds. If you’d like, you can start off by talking to a certified debt counselor on the phone, especially if you have questions or concerns about the process or eligibility requirements. Or you can go directly to the online application process.
This entails entering just some basic information about yourself, like your name, phone number, email address, and total debt amount. From there, you’ll receive a free debt relief quote to get the process started and see what exact services National Debt Relief can provide to you.
Once you have an idea of the scope and cost of the debt settlement process through National Debt Relief, consider talking to an independent debt counselor. They can help you weigh your options and look at your financial situation holistically.
Maybe you’d be better off continuing with your monthly payments, maybe bankruptcy is a better option, or maybe it actually is a good time to enter the debt settlement process. It’s smart to get an unbiased opinion from someone who only has your best interests at heart.
Once the Process Starts
Don’t be discouraged at the beginning of the debt settlement process, even if you’ve tried it on your own and already heard “no” from your creditors. National Debt Relief provides you with lots of advice and resources as you go through this process together.
One tip to keep in mind while you’re enrolled in debt settlement is to keep thorough documentation of all of your communication with creditors. This includes copies of letters, bills, and statements. If you’ve had a phone conversation, write down all of the details of the conversation and send a copy of your notes for them to have on file.
You should also request that they do the same thing to make sure both parties have the same understanding of the conversation’s outcome. More often than not, however, you’ll want to cease communication with your creditors. National Debt Relief can help you do this effectively and within your legal rights.
When enrolled, National Debt Relief typically advises you to include all of your creditors in the debt settlement process.
However, your debt consultant will look at your individual circumstance to recommend the best solution for your specific scenario. You’re never charged any fees by National Debt Relief until your debt has been resolved.
How much do they actually end up charging? It’s impossible to say because each situation is different. Fees vary based on the state in which you live and the amount of debt you enroll in the program.
You can find out more specific information when you submit your quick application form online. If you still have additional questions, you can also consult your debt counselor for help.
National Debt Relief is accredited through the Better Business Bureau and also has an A+ rating. It has 89% positive customer ratings through the BBB, 1% neutral ratings, and just 10% negative customer ratings.
In addition to its BBB accreditation, National Debt Relief is also a member of the American Fair Credit Council and are in full compliance when it comes to being monitored by regulatory compliance agencies.
On top of its professional achievements, National Debt Relief also contributes to many charities. In fact, they make donations each and every week through the year.
Some of the organizations earning their support include the Wounded Warrior Project, St Jude Children’s Hospital, Autism Speaks, Network For Good (The Animal Medical Center), and Unicef.
Many clients find it reassuring when a company has an altruistic side and makes a tangible impact in the world around them. National Debt Relief definitely fits the bill when it comes to such contributions.
Can Debt Settlement Help Stop Aggressive Collections?
It’s an unfortunate truth that when you owe money to a creditor or collection agency, they will often attempt to collect it using any means viable. Luckily, you are protected against certain practices under federal law.
Working with a debt settlement company like National Debt Relief helps to make sure you’re taking full advantage of all your legal rights when it comes to collectors.
One of the most important things to know is how to report a violation of the law. According to National Debt Relief, the best thing to do is report the collection agency to the Federal Trade Commission (FTC).
Your state might also have additional laws so you can contact your state attorney general to find out more information. But how do you know what is a violation of federal law? There are a few different red flags to keep an eye out for.
Debt collectors may only contact you within reasonable hours, which are defined as anytime between 8:00 a.m. and 9:00 p.m. They also can’t contact you at work if your employer disapproves and you’ve told them this.
These are just the major ones, but there are many other violations that include threats, harassment, and misrepresenting information.
Working with a professional debt settlement company like National Debt Relief not only gets you on the path out of financial hardship, it also helps get your life back. They’ll advise you on the best ways to navigate debt collection. And because they’re well-rated experts, you know it’s advice you can trust.
If the process of debt settlement is right for you, then you can’t go wrong enlisting the help of National Debt Relief. They’ll champion your rights while working to negotiate a more manageable amount of your debt for repayment.