American Debt Relief

American Debt Relief Reviews

Overview

American Debt Relief has an average rating of 1.0/5.0, based on 2 reviews.

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About American Debt Relief

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

American Debt Relief is a debt settlement company based in Plano, Texas. It offers support with unsecured credit card debt and says it can help you get out of debt in as little as 25 months. There are no upfront fees, and a performance-based fee will only be charged after your debt is settled. Secured debts, such as auto loans and mortgages, are ineligible.

    Pros & Cons

    Pros
    • Free assessment
    • Online dashboard
    Cons
    • Not available in all states
    • No legal support

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    What is American Debt Relief?

    American Debt Relief provides debt relief services through the debt settlement process. This means that the company will negotiate on your behalf with your creditors for a reduction in your debts owed. In exchange for its services, American Debt Relief charges a fee if the settlement is successful.

    The company does not offer debt settlement services in all states, although it does not specify which states it doesn’t operate in, with the exception of New Jersey.

    How does American Debt Relief work?

    To start working with American Debt Relief, you can first set up a free consultation by calling the company or filling out an online form. You’ll need to provide your contact information and current credit card balance.

    Once you’ve agreed to work with American Debt Relief, you’ll begin making monthly deposits into a savings account that’s insured by the Federal Deposit Insurance Corporation (FDIC). These payments will likely be lower than your minimum payments to your creditors.

    This account will be used to settle once you save up enough money. Note that you retain control of the account, and American Debt Relief will not be able to pull from your account or settle a debt until you approve it.

    American Debt Relief will then negotiate with your creditors to reach a settlement. This typically takes several months, and you’ll need to establish hardship, which means you will either need to be behind in your bills or be willing to stop paying toward your debts. This is the standard process of most debt settlement companies.

    After you sign up with American Debt Relief, you’ll also gain access to an online dashboard, which you can access 24/7 and use to manage the accounts you want to settle, monitor your deposits, review settlement offers and upload any documentation from creditors.

    Debt settlement typically takes two years or longer, and the speed of the process depends on how much debt you want to settle and how much you can pay monthly toward your debt payoff. American Debt Relief says its average client can usually pay off their debt in 25 to 48 months.

    American Debt Relief products and services

    American Debt Relief can only settle unsecured credit card debt. Secured debt, such as mortgages, auto loans and home equity loans, are not eligible for American Debt Relief’s services.

    American Debt Relief does not offer debt consolidation loans or credit counseling services. It also does not offer any legal support should a creditor decide to sue you for nonpayment.

    American Debt Relief fees

    American Debt Relief does not publish its fees online. However, it does say that it only charges a flat performance-based fee each time a settlement is reached. American Debt Relief also says that clients who remain with its program for two to four years have an approximate savings of 55% before fees and 30% after fees.

    There are no upfront fees, and American Debt Relief will not charge you for any settlements that your creditors may offer and it is not involved with.

    American Debt Relief FAQ

    Does American Debt Relief have a money-back guarantee?

    While American Debt Relief says its goal is for its clients to have complete satisfaction, it does not actually offer any guarantees. It cannot guarantee that every creditor will settle.

    Do I need a hardship to use American Debt Relief?

    Yes. If you are current on your bills, American Debt Relief will want you to stop paying them in order to establish financial hardship. If you want to repay your debt without incurring as much harm to your credit, a debt consolidation loan might be a better option.

    Will using American Debt Relief hurt my credit score?

    Yes, debt settlement requires you to stop paying your bills in order to negotiate your debt at a smaller amount. It can take several months or even years to rebuild your credit after debt settlement.

    Is American Debt Relief legit?

    American Debt Relief is a legitimate debt settlement company and a member of the American Association for Debt Resolution, which means it is required to follow industry best practices. It says it has helped its clients settle over $1 billion in debt over the past 12 years.

    Note that at the time of publication, there is an alert on the Better Business Bureau website indicating that a company with a similar name to American Debt Relief has been making phone calls soliciting business. American Debt Relief says it does not make outbound calls to consumers. Be sure to verify the source of any unsolicited calls by contacting the company directly.

    American Debt Relief Reviews

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      How do I know I can trust these reviews about American Debt Relief?
      • 4,476,910 reviews on ConsumerAffairs are verified.
      • We require contact information to ensure our reviewers are real.
      • We use intelligent software that helps us maintain the integrity of reviews.
      • Our moderators read all reviews to verify quality and helpfulness.
      Page 1 Reviews 0 - 10

      Reviewed April 30, 2024

      This company promised they would help but all they did was help themselves to my money while claiming they were settling my accounts. After taking thousands of dollars from my account they paid one payment to one of the settled accounts then canceled the agreement without notifying me and kept my money. They're a scam and I'm planning to get a lawyer at this point since nobody at that company can explain why they keep my money for their fees but don't pay the companies they supposedly made settlement agreements with... who are now either reporting as charged off accounts or coming after me for full payment. Run away from this company and don't believe their A rating with the BBB which is just paid for by the money they steal.

      Customer ServiceStaff

      Reviewed April 14, 2024

      Be very aware of American Debt Relief. Nobody including the supervisors tell you the truth about how to pay off accounts early. Everyone has a different answer. Horrible company that I wished I would have never gotten involved with. They're a bunch of liars like used cars salesmen. Stay very far away from this company.

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          American Debt Relief Company Information

          Company Name:
          American Debt Relief
          Website:
          www.americandebtrelief.com