Debt Relief Network is a Los Angeles-based debt relief company founded in 1997. These debt settlement professionals are committed to providing customers with debt relief quickly and efficiently, with years of negotiating experience that gives them the tools to succeed and you the confidence to trust.
According to our conversation with a customer service representative in January of 2014, when it comes to debt relief program payments, the price is right with Debt Relief Network. They charge customers 20% of the debts enrolled—a flat rate not uncommon for settlement companies—but they won’t accept that payment until your debts are settled. It can be a scary step to pay someone to help you with a problem that is financial in nature, but Debt Relief Network has a guarantee that will put wary customers at ease. The minimum debt accepted is an inclusive $5,000, while many other settlement companies have a higher minimum.
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We were excited to see that Debt Relief Network has a live chat feature on their website, but it turns out that the status is usually set to “offline.” There aren’t any features catered to mobile phone users and the company’s social media sites have yet to be updated. Finally, the site does a decent job explaining different debt relief options, but it isn’t always clear what services this particular company offers. Along the same lines, we think the company should include price and debt qualifying details on the website to ensure better customer awareness.
The Bottom Line
If settlement is the best solution for your debt problem, you have nothing to lose and only financial freedom to gain in consulting with Debt Relief Network about your individual settlement plan. The consultation is free, there is no upfront fee, and you won’t be charged a penny for their services until your debts are settled.
Debt Relief Network will eventually charge you 20% of the original balance you enroll in their settlement program. As with other debt settlement programs, this fee will come out of the savings you accumulate in a third party savings account. Meanwhile, your negotiators work their magic with your creditors, hopefully settling your debts for about half (or less) than the original balances. Debt Relief Network will only collect payment for its services after your debts have been successfully settled.
Yes! There is no reason why customers should be charged for a consultation concerning their debts and potential solutions, and a free, no-obligation consultation has become an expectation for most debt relief companies. Customers should think twice before paying for a consultation when there are so many good companies, such as Debt Relief Network, that offer a consultation for free.
Time in Business
17 Years. Debt Relief Network was founded in 1997, making it one of the longer-standing businesses in the industry. The longevity of the business is a testament to its dependability in an industry that is becoming more and more crowded. While some newer companies are also effective and reliable, experience is always a plus when it comes to debt negotiation and settlement.
They have an A+ rating with the BBB. This San Diego-based company scored high marks with the Better Business Bureau based on a number of factors: the length of time the business has been operating, the small volume of complaints filed for a business of its size, and the actions taken to respond to those complaints. Additionally, Debt Relief Network has provided sufficient information about its origins and operations—a good sign for clients trying to avoid shady organizations that aren’t as forthcoming with such details.
The company website provides pretty good explanations of different debt relief options, including settlement, the service they offer, and also other courses of actions. This is consistent with their promise not to push their services on anyone. They offer articles about the benefits of bankruptcy, settlement, consolidation, and tax relief services. They also offer anyone access to a free debt relief guide e-book, “5 Ways to Get Out of Debt.” Debt Relief Network doesn’t feature the debt calculators that many other companies do, which are useful for customers wanting to play around with numbers as they determine their own unique debt relief course.
Yes. The Debt Relief Network fee structure is laid out such that they only get paid on the debts they successfully settle, which are all approved by the customer. If you have debts that they are unable to settle, the savings that you’ve accumulated are yours to keep.
Unsecured vs. Secured Loans
Debt Relief Network works with unsecured debts only, as those are far more negotiable than are secured debts. Credit card debt, an example of unsecured debt, can often be settled by a company skilled in negotiation, whereas debt from a mortgage or automobile loan—examples of secured debt—can be resolved simply by taking the collateral away from the debtor.
While there’s neither an app nor a mobile-specific version of the website, mobile users should be able to navigate the site just fine. However, customers won’t find nitty-gritty program details or extensive educational materials on the site anyway, so they will probably spend more time on the phone with a consultant than they will browsing online. If you decide to enroll with Debt Relief Network, ask them about their client login site, which may give you access to more resources.
Clients working with Debt Relief Network may cancel at any time without a penalty. Of course, debtors are then left to their own devices to conquer remaining debts, but it’s good that customers can enter into a relationship with the company knowing that they can back out if that’s what they decide. It’s always a good idea to read the terms and conditions before deciding on a debt relief program.
Customer Support Quality
The staff at Debt Relief Network won’t push you into their services or force solutions that fit their agenda, as some companies do. Their aim is to listen, then educate you about your individual options during the free consultation. They respond promptly, politely, and thoroughly to emails. The website supposedly offers live chat support, which is a great feature for prospective clients, but the support status seems to be perpetually set as “offline.” For the most timely assistance, it’s best to call.
4445 Eastgate Mall #200 Sungate Corporate Centre
San Diego, CA 92121
Debt Relief Network offers debt settlement only. Here’s how it works: a certified agent will examine your financial situation and budget to create a savings plan. Each month you make a payment from your checking account to a debt settlement savings account. While the money accumulates (the faster the better!), negotiators work with your creditors to arrange a reduced settlement on your credit accounts. Though settlement is the only debt relief service Debt Relief Network offers, they can point you towards other resources as needed. They also have resources to help repair inaccuracies on your credit report by finding them and challenging them in your behalf.
Minimum Debt Accepted
$5,000. Debt Relief Network accepts unsecured debts of at least $5,000—good news for debtors who don’t qualify for debt settlement programs with a higher minimum. Qualifying customers can be assured that they will receive help from experienced professionals because their relief matters, whether it’s $5,000 of debt or $15,000.