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About Better Debt Solutions
Better Debt Solutions is a debt relief and settlement company that helps people reduce and pay off their debt so they can achieve financial stability. It speaks to creditors on clients’ behalf to settle debts.
Pros & Cons
- No upfront costs
- 24/7 online portal access
- Can take up to 48 months
- Fees are 14% to 27% of enrolled debt
Our editor’s take
Better Debt Solutions is an option for some people with overwhelming debt who don't foresee being able to pay it all off.
While Better Debt Solutions doesn't elaborate on the different types of debt that qualify for debt relief, many debt settlement companies allow unsecured debt, such as credit card debt or personal loan debt. Typically, secured debt, such as car and home loans, doesn't qualify.
Better Debt Solutions services
Better Debt Solutions offers services for those who want to settle debt with creditors. It offers a free consultation to help you figure out what type of debt relief is the best option.
Although Better Debt Solutions doesn't specify, most debt settlement companies require individuals to stop paying their creditors and instead open a savings account where they make monthly payments to accrue sufficient cash to negotiate with creditors.
According to the company’s website, an individual must save 25% of what they owe a creditor before Better Debt Solutions will negotiate on an individual's behalf. Reaching a settlement and paying off debt can take up to four years.
Better Debt Solutions requirements
Better Debt Solutions first requires a consultation session to come up with a plan for debt relief. The company usually does a soft credit pull, which does not affect your credit score.
If you enroll, you must save 25% of an enrolled debt (one credit card, for example) before the company can present the creditor with a settlement offer.
Better Debt Solutions costs
Better Debt Solutions offers a free consultation with a debt consultant. According to the company, debt settlement fees are based on the total amount of debt enrolled and as of publishing range from 14% to 27%. The fees vary by state.
FAQ
What is Better Debt Solutions?
Better Debt Solutions is a debt relief company that works with individuals to help reduce unsecured debt through debt settlement.
How does Better Debt Solutions work?
Better Debt Solutions evaluates your debt issues as part of a free consultation. If you enroll in the debt relief program, you deposit money into a savings account. The company then negotiates with creditors to settle your debt for less than you owe. You can follow your progress using the online account portal. Savings typically average 40% to 60% before fees, which are typically 14% to 27% of enrolled debt.
Where is Better Debt Solutions available?
Better Debt Solutions is not available in every state. The company is based in Irvine, California.
Is Better Debt Solutions legit?
Yes, Better Debt Solutions has been in business since 2022.
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Better Debt Solutions Company Information
- Company Name:
- Better Debt Solutions
- Address:
- 2525 Main St., Ste. 500
- City:
- Irvine
- State/Province:
- CA
- Postal Code:
- 92614
- Country:
- United States
- Website:
- betterdebtsolutions.com
