Services not available in all states, including New Jersey.
Where applicable, American Debt Relief will refer you to a highly qualified service provider who can provide debt relief services you need.
American Debt Relief, LLC does not discriminate on any level including on the basis of race, color, religion, sex, marital status, sexual orientation, national origin or ancestry.
* Clients who are able to remain with the program and resolve all their debt realize approximate savings of 55% before fees, or 30% including our fees, in 24 to 48 months. All claims above are based on enrolled debts. Not all debts are eligible for enrollment. Not all clients complete our program for various reasons, including their ability to save sufficient funds. All estimates are based on prior results, which will vary based on specific circ*mstances. We do not guarantee that your debts will be lowered by a specific amount or percentage or that you will be debt-free within a specific period of time. We do not assume consumer debt, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice or credit repair services. Not available in all states. Please contact a tax professional to discuss tax consequences of debt forgiveness. Please consult with a bankruptcy attorney for more information on bankruptcy. Not all creditors will negotiate debt resolution with third parties and some creditors will only negotiate under certain circ*mstances, such as a charge-off. You may be subject to collection activity or lawsuits by creditors or collectors if you are not making regular monthly payments. American Debt Relief, LLC is licensed by the Virginia State Corporation Commission: License No. DSP-9.
FAQs
Is American debt relief for real? ›
American Debt Relief is a reputable firm that uses a process known as debt settlement to help consumers negotiate and settle credit card debt. This company boasts excellent user reviews and can help you get started with a free debt assessment.
Is there really a government debt relief program? ›There aren't any free government debt relief programs for credit card or personal loan debt other than bankruptcy. Many types of government debt relief exist in the form of grants and low-interest loans for specific purposes.
Does American Debt Relief hurt your credit? ›Debt management plans do not affect your credit scores, but closing accounts can hurt your scores. Once you've completed the plan, you can apply for credit again. Missing payments can knock you out of the plan, though.
Is debt relief an actual thing? ›Debt relief companies, also known as debt settlement companies, are an option if you're struggling with a lot of unsecured debt — like credit card bills, personal loans or private student loans. Agents can negotiate with your creditors and possibly get your balance lowered.
Is it worth doing a debt relief program? ›If you're one of the millions of Americans struggling to repay high-interest debt, a debt relief plan may be an option to help you get your finances on track. But it's not a quick fix. It's a long-term solution designed to help you get out of debt over a period of time — typically several years.
How long does debt relief stay on your credit report? ›Duration on your report: Debt settlement can stay on your report for up to seven years. Debt settlement occurs when a company contacts creditors and negotiates a settlement on your behalf. The debt settlement company may ask you to stop paying your creditors and instead pay an amount into a separate account.
Does debt forgiveness hurt your credit? ›The bottom line. While credit card debt forgiveness can offer a path out of overwhelming debt, it's not without its drawbacks. The impact on your credit score can be significant, potentially affecting your ability to obtain credit, secure favorable interest rates or even rent a home in the near future.
Does the government give out $9000 dollar grants? ›The government does not offer free money or grants to people for personal needs.
How to pay off $10,000 credit card debt? ›- Take advantage of credit card debt forgiveness.
- Consider credit card debt consolidation.
- Use your home equity.
- Ask your lenders about financial hardship programs.
Conversely, keeping older accounts open with low balances can potentially benefit your credit profile over time. To start rebuilding credit: Responsibly using a credit card after a debt settlement can help you rebuild your credit over time.
Is it better to settle debt or pay in full? ›
Which Is Better: Paying in Full or Settling? It's better to pay off a debt in full than settle when possible. This will look better on your credit report and potentially help your score recover faster. Debt settlement is still a good option if you can't fully pay off your past-due debt.
Is debt settlement worth it? ›While debt settlement may be worth a lower credit score for some, it may not be for everyone. You should avoid debt settlement if: You can afford your monthly payments. You haven't explored options like debt management and consolidation.
Is the 2024 debt relief Program legit? ›It has been around since 2009 and has helped over 600,000 individuals reduce their debt. It also has an A+ rating from the BBB (Better Business Bureau).
Who has the best debt relief program? ›- Best Overall for Debt Settlement, Best for Credit Card Debt, Best for Low Fees: National Debt Relief.
- Best for Tax Debt Relief: CuraDebt.
- Best for Customer Service: Accredited Debt Relief.
- Best for Customer Satisfaction and Reputation: New Era Debt Solutions.
Working with a debt settlement company may lead to a creditor filing a debt collection lawsuit against you. Unless the debt settlement company settles all or most of your debts, the built-up penalties and fees on the unsettled debts may wipe out any savings the debt settlement company achieves on the debts it settles.
Is there such a thing as national debt relief? ›As the amount in the escrow account increases, National Debt Relief negotiates with individual creditors on your behalf to get them to accept less than the amount you owe. Because you're no longer paying the creditor, the creditor may view getting a reduced amount as better than receiving nothing at all.
How do I know if a debt relief company is legit? ›They Ask for Fees Upfront
This is the most obvious sign of a debt relief scam. If the person/company offers to help get rid of your debt but first you have to pay them a fee, they're probably lying to you. Cut off contact and file a complaint with us.
The Biden-Harris Administration has approved the following debt relief for borrowers: $69.2 billion for 946,000 borrowers through fixes to Public Service Loan Forgiveness (PSLF). $51 billion for more than 1 million borrowers through administrative adjustments to IDR payment counts.
Is the credit card debt relief program legit? ›When it comes to credit card debt relief, it's important to dispel a common misconception: There are no government-sponsored programs specifically designed to eliminate credit card debt. So, you should be wary of any offers claiming to represent such government initiatives, as they may be misleading or fraudulent.