Accredited Debt Relief

4.9(116)

Updated: 06/03/2023

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Overall Rating4.9 out of 5

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About Accredited Debt Relief

Accredited Debt Relief has delivered custom financial solutions to individuals across the U.S. since 2011. We match our clients with personalized programs to reduce their unsecured debt and regain control of their finances.

Pros & Cons

Pros

Accredited with BBB, AFCC, IAPDA
Various debt relief options
Free consultation
Experienced negotiators

Cons

Must have debts of $10,000+
Coverage limited to 32 states

Bottom Line

Accredited Debt Relief has debt settlement services for amounts over $10,000, plus other debt-relief options. They only service 32 states, but for those who are eligible, the company’s services can provide good financial help.

Top Accredited Debt Relief Reviews

Shari of Apple Valley, CA

Verified

Accredited Debt Relief was helpful and understanding … My consultant was extremely friendly and explained everything very well … After reviewing everything I was informed about I ...

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William of Fletcher, NC

Verified

Reagan was professional and helpful. She fully explained how the debt relief program worked, looked at my financial situation, and gave me clear precise options on how to handle m...

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What is Accredited Debt Relief?

Accredited Debt Relief is a company offering relief programs to customers who have accumulated substantial debt. It operates in 32 states and employs a team of professional debt negotiators to act as an intermediary between you and your creditors. The company offers debt relief options like debt consolidation, debt management, debt settlement and bankruptcy.

Accredited Debt Relief is an accredited member of the American Fair Credit Council (AFCC), a leading association of professional consumer credit advocates. It is also accredited with the International Association of Personal Debt Arbitrators (IAPDA) and the San Diego Regional Chamber of Commerce.

How does Accredited Debt Relief work?

Accredited Debt Relief has a minimum debt requirement of $10,000. It cannot guarantee to settle a specific amount for each client because every case is different, and there are many factors in settling a debt.

If you withdraw from your debt settlement program, Accredited Debt Relief guarantees that you’ll be able to get back the remaining balance in your bank account that was opened specifically for your debt settlement.

Here’s how you can enroll in the company’s debt relief programs:

Sign up for a free consultation session.
You will be assigned a dedicated representative as your point of contact.
Sign up with the specific program that meets your requirements.
Negotiations start within one to two weeks after signing up.
Open a new bank account where Accredited will draw funds for your monthly payments.
The first settlement will be made within three to five months of the program.
If you think you’re going to miss a monthly payment, inform your Accredited representative five days in advance so he/she can work out other arrangements. Missing payments may delay your program.
Continue funding your bank account. This is key to settling your debts on time.

Accredited Debt Relief services

Piling credit card and personal loans can lead to stress; however, getting rid of them can be even more challenging. Accredited offers the following debt relief services that help customers settle their debt with a budget they can afford and timeline they can follow.

Debt Settlement

Debt settlement is a program available to borrowers with a legitimate financial hardship. These are debtors who cannot continue to pay their debts under the original terms. Only unsecured loans, like credit card debt, are allowed for debt settlement. Accredited can help you negotiate for a lump sum payment, which is a lower amount than your loan balance. While the Accredited agent is negotiating, you’ll need to open a savings account where you’ll make regular deposits to build up the needed amount. Not all creditors will agree to debt settlement, but you can also explore a debt consolidation or debt management option.

Debt Consolidation

If you’re struggling to pay the minimum payments on your credit card debt, personal loans, student loans and medical expenses, consolidating all your obligations into one monthly payment is an option. Debt consolidation allows you to:

Free yourself of dealing with multiple creditors
Reduce your monthly payment
Lower your interest rates
Streamline the paying process with just one monthly payment
Avoid delinquencies

The common ways of consolidating your debt are:

Taking out a new loan to pay off all your existing obligation - The downside of this type of debt consolidation is that you may not be able to reduce your interest rate. You may also compromise your home if you get a home equity loan.
Debt consolidation program - A debt relief company works out an arrangement with your creditors for a possible reduction of interest and waiving of outstanding fees. You’ll then make one consolidated payment each month to your chosen debt relief company, which will distribute payments to your creditors as they are due.

Debt Management

A typical debt management plan does not involve a loan. It is part of a debt consolidation plan that can get you out of your loans faster, reduce interest rates and eliminate or minimize creditor calls. Accredited Debt Relief will review your financial situation, negotiate with your creditors and try to come up with a single monthly payment amount and schedule after deducting basic living costs like utilities, rent, mortgage and secured loans.

Bankruptcy

For people buried in debt, bankruptcy is a tempting solution as a last resort. It allows them to stop all collections and prevent wage garnishment, foreclosure, repossession and legal action. You may file for bankruptcy in one of two ways:

Chapter 7 bankruptcy -You may qualify for this process if you’re unable to pay a minimum monthly payment and you’re earning below the average income for your state. Allowable debts for discharge include credit card debt, personal loans, medical bills, tax debt, garnishments and car accident judgments. Ineligible debts include child support and most student loans and tax debts. You’ll be compelled to liquidate all your non-exempt assets to help pay your creditors. Assets not included are your primary residence, work equipment tools and vehicles, and certain personal items.
Chapter 13 bankruptcy - This is a better bankruptcy option if you’re earning more than the average income for your state. It involves restructuring your debts for a more affordable payment arrangement, but your debts are not totally discharged. Monthly payments are made to a court-appointed trustee, and the payment term may run for three to five years.

Keep in mind that bankruptcy does affect your credit score from a good score to a fair or poor one.

Accredited Debt Relief FAQ

How much does Accredited Debt Relief cost?

Accredited Debt Relief does not charge upfront fees. Fees are typically between 15 and 25 percent of the total debt enrolled. The company spreads out its fees over the life of the debt settlement program. It’s important to note that every case is different, and savings are not guaranteed. Results vary depending on the details of the case and other factors outside the control of Accredited Debt Relief. Clients who consistently make deposits to their bank account pay around 50 percent of their total enrolled debt without the fees. With the fees, they pay around 68 to 75 percent of their enrolled debt. For example, if you enroll a $20,000 debt, Accredited could negotiate that down to $10,000. You can expect a 20 percent fee of $4,000 spread out over the life of the settlement program. A 2-year term would charge you $2,000/year, while a 4-year term would charge you $1,000/year on the average.

How does Accredited Debt Relief affect your credit?

To the credit bureaus, enrolling in a debt relief program means you’re having a hard time managing your debt on your own. This can lower your credit score, limiting your access to new credit and lower interest rates. Debt relief programs start with three to five months of negotiations by the debt relief company with your creditors. This means several months of missed payments, which can cause the credit bureaus to lower your credit score further. While debt relief programs bring down your credit, it is a better alternative to bankruptcy — which stays on your credit records for at least ten years. Lenders will also appreciate your effort for doing your best to repay your debts. When you start paying according to the negotiated settlement, your credit score will gradually improve over time.