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Overall Rating4.7 out of 5
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About CreditAssociates

CreditAssociates is a debt settlement company that helps consumers lower and repay unsecured debts, including credit card, medical and business debt. Founded in 2007, the company operates in 43 states and Washington, D.C. It does not work with clients in Colorado, Connecticut, Minnesota, Maryland, New Jersey, Vermont and Wyoming. CreditAssociates is a member of the American Fair Credit Council (AFCC), which sets best practice standards for debt settlement companies.

    Pros & Cons


    • Money-back guarantee
    • Spanish-speaking reps available
    • AFCC accredited member


    • Not available in all states
    • Not for secured debts

    Bottom Line

    Debt settlement can take between 24 to 48 months, and while not all debts can be negotiated, CreditAssociates offers a money-back guarantee for clients not happy with the service. It offers a free debt consultation for more information.

    Featured Reviews

    Indianapolis, IN

    “My experience with CreditAssociates has been great and I can't complain about anything. The reps explained to me before things happened. They let me know where I'm at and they do...

    Read full review
    Yonkers, NY

    “Cindy, the rep, was awesome. I love her. Working with CreditAssociates has taken a lot of stress off me. I’m a lot more comfortable with my finances than where I was at. I'm able...

    Read full review

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    What is CreditAssociates?

    Based in Texas, CreditAssociates offers a variety of services, from personal consultations to full-service negotiation with creditors on behalf of clients. It works with unsecured debts, such as credit card debt and medical bills, as well as business and corporate debts. In addition, it provides educational resources, including budgeting tips, credit score improvement tools and other helpful information geared toward helping clients stay financially fit after they have achieved their goals.

    It specializes in negotiating with creditors on behalf of its clients to reduce unsecured debt balances and interest rates and even eliminate late fees and other charges. The goal is to get clients out of debt quickly, though depending on your debt load, it can take 24 to 48 months to be completely debt-free.

    How does CreditAssociates work?

    Once you are a client of CreditAssociates for debt settlement, you will stop paying the unsecured debts that you enroll in the program. Instead, you will pay a monthly amount to a special-purpose savings account through CreditAssociates. You remain in control of your savings account, but this is what will give the company the ability to negotiate a lower debt bill and pay off the negotiated amount.

    CreditAssociate’s negotiation team negotiates with your original balance in mind, helping you avoid any late fees during the process. Debt settlement helps customers eliminate overwhelming debt, but the process can damage your credit score.

    Not all debts are eligible for enrollment in the program. Some debts will require your active involvement, since some creditors, like Chase, Discover, American Express and Macy’s, will not always work with debt settlement companies directly.

    It can take six months to see your first debt negotiated and settled.

    CreditAssociates products and services

    CreditAssociates offers debt settlement, which is a strategy to negotiate down client debt. It works with unsecured debts, such as credit card debt, medical bills and business debt. It does not work with secured debts, such as mortgages and vehicle debts.

    To get a better idea if debt settlement is the right choice for you and how much you could save, request a free debt consultation. CreditAssociates says that clients who complete the program and pay off all of their debts save an average of 55% before fees and 30% after CreditAssociates’ fees.

    CreditAssociates fees

    CreditAssociates does not charge any advance fees. Instead, you pay a 15% to 25% fee for the debt settled through the debt settlement program.

    For canceled debts over $600, you will receive a Form 1099-C from the financial institution that forgave your debt. Your tax preparer will tell you if you need to include it in your taxes and how to do so.

    CreditAssociates FAQ

    Does CreditAssociates have a money-back guarantee?

    CreditAssociates mentions that it cannot guarantee results because it cannot force a creditor to accept a settlement. However, the company offers a money-back guarantee if you are unhappy with the results.

    Do I need a hardship to use CreditAssociates?

    The program is designed for people who are experiencing financial hardship. The company will need to prove that you cannot afford your bills but are willing to work toward debt resolution.

    Will using CreditAssociates hurt my credit score?

    Debt settlement programs require clients to stop paying creditors while the company negotiates debt resolution. The process can help you get out of debt, but it will also hurt your credit score.

    Is CreditAssociates legit?

    CreditAssociates is a legitimate, professionally accredited company that has helped many clients settle debts. It develops a customized plan for each client and charges no upfront fees — you only pay once your debt is resolved. You can get started by setting up a free consultation to go over your debt situation. CreditAssociates has a money-back guarantee and says clients get results in as little as 24 months.

    CreditAssociates Reviews

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    Reviewed Sept. 30, 2021

    My experience with CreditAssociates has been great and I can't complain about anything. The reps explained to me before things happened. They let me know where I'm at and they do the work for me. When they get a great offer, they let me know and if I don't have the money, I do whatever I can to get the money in so that I can settle this account. I like the website where I can go and feel comfortable and see that progress is being made. I have good credit and even though CreditAssociates affected it, it's not making it any worse. It has turned up my debt. It makes me say that I got to crawl before I can walk, but I will come out of this. It's less stress for me now.

    Working with CreditAssociates has impacted my life tremendously that it made me want to quit my job at 16 years to work with them because I'm a customer service people person and it made me feel like I can make people's dreams of stress reduced. If it works for me, it can work for them. It's not like being a salesperson. It's being honest and CreditAssociates does exactly what it says. If I ever lose my job, I would love to come and do the work that they are doing.

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    Reviewed Sept. 29, 2021

    I told Credit Associates to take $500 out of my account that I get from my Social Security. They said they will help me pay one bureau at a time. They called me and they explained things to me. But they send me some paper but it was not the paper that I wanted. I know how much money they taking out of my account. I wanna know when do they started paying my bills.

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      Reviewed Sept. 28, 2021

      Cindy, the rep, was awesome. I love her. Working with CreditAssociates has taken a lot of stress off me. I’m a lot more comfortable with my finances than where I was at. I'm able to meet my other bills without having to stress how I am going to do this. So it’s a major plus.

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      Customer ServiceStaff

      Reviewed Sept. 27, 2021

      CreditAssociates said that I'll be through paying them in two years. It hasn’t been a year that I’ve been with the program and working with them has been alright so far. I have no complaints. If someone calls me, I tell them that I am with CreditAssociates but they still call, and I tell CreditAssociates.

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      Customer ServiceStaff

      Reviewed Sept. 26, 2021

      CreditAssociates is consolidating all my credit cards and negotiating with them for my debt. Some of the debtors have already negotiated with them and they're taking care of it. But they'll work a little bit more with Capital One. It is what it is. If I have any problems, all I have to do is call the reps and they answer all my questions, and they’d take care of things right away. A couple of times though, I reached out to the man that I started taking talking to and he said he would get back to me but he never has. Some of his underlings called me but I'm the kind of person that the person I want to talk to is the person I called.

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      Reviewed Sept. 25, 2021

      So far, my experience has been good. I have two debts remaining and it's a relief that I'm getting things paid off.

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      Reviewed Sept. 24, 2021

      Everything was perfectly fine at initial contact. But they should keep in contact with their clients and let them know what's going on rather than the clients having to call. It just seems like things are taking long. They said it's gonna take two or three years and I'm like, "Why so long?" They told me they settled three debts but I'm really not seeing too much. Take your time and look for the best program which fits your price range and your budget.

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      Customer Service

      Reviewed Sept. 23, 2021

      What I needed to know was unpacked and I was happy about that. The process has taken around six months and it's barely starting. I have three accounts already settled. If I want to, I could give even more so the process can go faster.

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      Reviewed Sept. 22, 2021

      When CreditAssociates said they could take all your bills, I thought they would be paying on all of my bills, not just collecting money for one and then paying off one and then collecting for another bill. Also, they get a percentage of the money and I don't know how much percentage they get. I need to know how much is going to them and how much is going to my credit. 'Cause right now, I'm a delinquent and my credit score is completely messed up. And I thought I had them to help.

      I also don't get any reassurance from them. Other than that, they're doing pretty good. I got an email about another debt ready to get paid off. They told me that they made a settlement but they don't say how much they made a settlement for. If they're not gonna do what they said they're gonna do, then I might as well stop my money from going to CreditAssociates and try to go with the Federal Credit Union and make a deal with them.

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      Reviewed Sept. 21, 2021

      eBay is saying that my last payment wasn't settled on the date it was supposed to be. I called CreditAssociates and the rep set it was settled and told me to ask eBay. I contacted eBay again and they said that the payment was late. I told CreditAssociates to please check and asked her to update me on what happened. I called back and forth that day. I never heard back from CreditAssociates but eBay hasn't emailed back again.

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