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#2

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Accredited Debt

9.6

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Accredited Debt (ADR) is a debt management company that offers an array of services to those who find themselves owing too much debt to creditors (most often credit card companies). Services offered include debt consolidation, debt management, debt resolution, bankruptcy, and credit counseling service.

Counselors work with each individual’s unique financial situation to choose a service. As with all FTC regulated debt resolution firms, ADR charges no fees until they receive a resolution offer for you.

According to the Accredited Debt’s website, consumers that make all of their monthly payments pay roughly 50% of their total enrolled debt before fees.

After the fees, their payments will be anywhere between 68% to 75% of their enrolled debt over a 3 year period before becoming debt free.

The Good

Positive Accredited Debt Reviews

  • Professional agents

  • Helpful customer service reps

  • Informative

In the last year, 99% of the reviews posted on BestDebtCompanys.com have been positive. Most positive reviews for Accredited Debt are related to the customer service people receive.

Accredited Debt’s agents are described as patient, helpful, and professional. Reviewers also say that these professionals are able to answer all the questions they have about their financial hardship and specific situations. The processes of resolving debt is very detailed and informative.

Not only that, but because debt resolution can be a sensitive topic, many consumers reported how comfortable ADR representatives made them feel. In fact, the biggest complaint people had was they wished they had called ADR to obtain a debt management solution sooner.

Positive review highlight from Ed Romero, 3/17/19 *"Karina R is a true professional in her field. She explained all details to me clearly, and empathized with my situation. She followed up regularly and was always kind and courteous. She answered all my questions and when I had a doubt she addressed it. Looking forward to a great start."

Free Consultation Offered

Company representatives of Accredited Debt help forgive debt every day and offer a free consultation designed to help people with credit card debt understand where they are financially and what options they have for reaching a credit card debt resolution and becoming debt free. Accredited Debt doesn’t just offer one service they try to sell you on. They listen to each individual and make recommendations on a case-by-case basis. For example, if debt resolution isn’t right for you, they may offer another debt resolution option:

  • Bankruptcy
  • Credit Counseling
  • Debt Consolidation
  • Debt Management

Whatever debt option you pick, Accredited Debt’s goal is to lower monthly payments and interest rate, help with calls from creditors and collection, and simplify the process of becoming debt free.

After a free consultation, customers can stay up-to-date on the status of their account with ADR’s online dashboard (personal client portal).

Customers can check the status of their account 24/7. This allows them to stay informed of any updates and resolution amounts.

Lower Customer Debt

ADR starts negotiating lower payments with credit card companies within one to two weeks after signup. On average, those who use ADR’s debt resolution program pay off their debt in 2 to 4 years, but the first resolution can happen in as little as 3 months.

Only in extreme cases do creditors not allow resolution. A creditor’s overall goal is to get paid, so they are often pleased with any sort of payout over a bankruptcy option. Some of the creditors that ADR has successfully worked with include:

Creditors
  • American Express
  • Bank of America
  • Barclays
  • CapitalOne
  • Chase
  • Citibank
  • GE Capital
  • HSBC
  • Sears
  • The Home Depot
  • USAA
  • US Bank
  • Wells Fargo
  • Accredited Debt’s website says that clients pay back an average of 50% of the debt they enroll. After fees, that number increases to 68-75%. So those who currently pay $600 a month towards their debt or credit card, end up paying about $304 a month when they sign up for Accredited Debt.

    Excellent National Accreditations

    ADR has excellent accreditations. The company is accredited by the AFCC and IAPDA. These accreditations and certificates hold ADR to a higher standard, making them a trustworthy company for consumers to go for a debt management plan. The company also follows and outlines FTC guidelines on its site.

    The Bad

    Minimum Debt Requirement

    Anyone who wants to work with Accredited Debt must have a minimum of $10,000 in unsecured debt. Unsecured debts typically include credit card, medical bills, utility bills, wage garnishments, back rent, student loans, and sometimes personal loans.

    On the other hand, ADR and most debt resolution companies do not work with secured debts. Secured debts are backed by collateral.

    So if the borrower is unable to pay back a secured debt, the lender can seize their property or whatever they used as collateral for the loan. Secured debts include mortgages, auto loans, and business loans.

    There are a limited number of debt resolution companies that will accept less customers with less than $10,000 in unsecured debts. For those who have small debts, ADR may recommend another type of debt resolution program.

    Only Available in Select States

    Accredited Debt is only available in the following 28 states: AL, AK, AZ, AR, CA, FL, ID, IN, IA, MD, MA, MI, MS, MO, MT, NE, NV, NM, NY, NC, OK, PA, SD, TN, TX, UT, VA, and WI.

    The Bottom Line

    With costs and industry accreditations, Accredited Debt is on par with the top debt resolution companies in the industry. The company charges 15-25% of the total debt you enroll.

    Most companies charge the same fees, maxing out at 25% to comply with consumer laws. They accept a minimum debt of $10,000 to start, again similar to other debt companies. What really sets Accredited Debt apart is their extraordinary customer service, as outlined in almost every customer review below.

    If you live is a state that Accredited Debt operates in, we highly recommend working with them.

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