Best Debt Companys

163 Companies 4,328 Real Customer Reviews

debt-reduction-services-review
Current

What Others Are
Researching Right Now:

#13
debt-reduction-services-review

Debt Reduction Services

Debt Reduction Services has several accreditations and free counseling.

Our Score
4.5
User Score
10.0
Our Score
4.5
User Score
10.0
Rank this Company

Ratings Breakdown

Monthly Enrollment Fee

Undisclosed

Setup & Activation Fee

Undisclosed

Free Consultation

Yes

Credit Counseling

Yes

ISO Certified

Yes

Number of Reviews

5

This Review is maintained by Chase Sagum

Review Last Updated: June 26, 2019

Debt Reduction Services has been operating for over 21 years and helps customers in 47 states to reduce their debt by way of consolidation and debt management plans. There are a lot of attractive aspects to its services, including their availability, money-back guarantee, and accreditations. However, there are also complaints about the company employing pushy sales reps and aggressive telemarketers.

Rank Chart
Monthly Price
Accreditations
Review

#1

Up to $79
FCAA & ISO

#2

$10-$40
AFCC & IAPDA

#3

Up to $49
ISO

#13
debt-reduction-services-review

Undisclosed
FCAA & ISO

Pros

Great Resources

If you’re not sure what to do about the debt that you have, Debt Reduction Services offers a free consultation to anyone, regardless of whether or not you actually enroll. We like to see this kind of offering from companies. Additionally, on its list of resources, Debt Reduction provides an attorney listing under each state. This tool enables consumers to easily find an attorney if bankruptcy is determined to be the best option.

Money Back Guarantee

Debt Reduction gives clients peace of mind when it comes to satisfaction. A money-back guarantee is offered, and the company claims clients’ financial success is its ultimate goal. If a client is unsatisfied with the results, the company will refund the enrollment fee. In some instances, it may also refund some of the monthly installments paid to the company.

Best Debt Consolidation Companies

Cons

Lack of Transparency

Debt Reduction Services is not transparent about its interest rates, monthly fees, or up-front fees. Some customers have reported seeing their fees increase after signing a contract. Overall, we’d like to see companies, including Debt Reduction Services, be more transparent about their fee-schedule, especially as this company is a non-profit firm. This lack of information can make it difficult for potential customers to determine if Debt Reduction is the right fit for their circumstances. It is also difficult for our team to rank them without the pertinent information.

Aggressive Tactics

Complaints about Debt Reduction Services seem to have less to do with the company’s services and more to do with pushy salespeople and aggressive ‘hard-sell’ tactics as they try to get people to sign up for their service. This can be very off-putting for customers and push them into services they do not want or to find another company to work with.

Our Recommendation

Debt Reduction Services might be a good fit for many people who live within their 47-state service area; they have a money-back guarantee and are well accredited. However, their lack of transparency and aggressive sales tactics should be considered before committing to using their services. Because of these factors, we do not recommend working with Debt Reduction Services at this time.

 

View our top consumer-rated consolidation companies


Debt Reduction Services FAQ

Debt Reduction Services is a non-profit debt consolidation agency that provides customers with the ability to gather all of their unsecured debt into one easy monthly payment and negotiate to lower or eliminate interest charges. On average, Debt Reduction Services customers have been able to pay off all of their debt in approximately two to four years. Debt Reduction Services also offers credit counseling, bankruptcy certificates, and several financial resources, like financial education and credit/debit discussions.

How much does Debt Reduction Services cost?

Debt Reduction Services price information is undisclosed at this time.

Do they offer a free consultation?

The company provides free consultations over the phone. Their consultants are very well informed and polite, so you should feel very comfortable taking advantage of this option.

Does Debt Reduction Services have a money back guarantee?

Debt Reduction Services will not refund any money that you have already invested into the program, although you are free to cancel your services at any time. Any money that you have given to creditors while part of the company’s debt consolidation program is safe and considered paid.

What is their cancellation policy?

Debt Reduction Services wants to see you succeed, but understands that sometimes the customer wants to take a different route, so you can cancel your work with them at any time. Though, by doing so, you will forfeit any fees that you have already paid the company. Since Debt Reduction Services pays creditors monthly, you won’t have to worry about those payments being lost if you cease working towards consolidation.

What debt services do they provide?

Debt Reduction Services is a non-profit “management and credit counseling organization”. They specialize in debt consolidation and debt management, which means that they will work with creditors to achieve a single, low-interest monthly payment, with resolution usually in 5 years or less. One of their top features is a Client Center, where customers can view their progress and previous payments.

They also offer “Pre and Post Bankruptcy Filing Certificates” when bankruptcy is the appropriate option.

What is the minimum amount of debt I can enroll?

The company does not have a minimum debt threshold.

What certifications does Debt Reduction Services have?

Debt Reduction Services’ credit counselors are certified through the Center for Financial Certifications, an independent credentialing body recognized by the debt management industry and individual state regulators and creditors.

Debt Reduction Services is certified compliant by BVQi NA,Inc. to the ISO 9001:2008 Quality Management System Standard in order to ensure the highest level of quality service to their clients.

Are there any inaccuracies in this review? We take our accuracy very seriously and would love your feedback. Give feedback here.

Request Reconsideration

5 Debt Reduction Services Reviews

1. Select Your Rating:

5
0=WORST 10=BEST

2. Subject For This Review*(Select all that apply)

3. Review Validation*

or

    Sort By:

  1. User Score
    10
    March 21st, 2019 Weston, CT
    0 people found this review helpful!
    I did a debt reduction with Cassandra M. I cannot tell you how relieved I was to have such a knowledgeable friendly professional representative to deal with. I close the deal with her and could not be happier. She is definitely an asset to the organization. Thank you so much Cassandra
    Read More
  2. User Score
    10
    March 15th, 2019
    0 people found this review helpful!
    Debt reduction help me so much with my student loans. I would greatly recommend all students to use this service to help reduce your debts.
    Read More
  3. User Score
    10
    March 7th, 2019
    0 people found this review helpful!
    Service was outstanding, I would recommend them to a friend.
    Read More
  4. User Score
    10
    March 7th, 2019 Colchester, CT
    0 people found this review helpful!
    I have had excellent customer service with Patience R. I would rcomment this company to anyone.
    Read More
  5. User Score
    10
    February 27th, 2019 Colchester, CT
    0 people found this review helpful!
    I have had great customer service from Patience R and David B. They are walking me through this process of debt consolidation, I am so grateful. Would recommend them to anyone.
    Read More
  • Takes your existing debt and try to settle with your creditors for a lower amount. If you pay off the settled amount, your debt will be considered paid in full.
  • Negotiates with your creditors on your behalf.
  • Fee based on a percentage of your total starting debt or a percentage of the debt they save you.
  • Most settlement companies have you create a separate "escrow" account where you will make monthly contributions over a certain amount of time to contribute to your settlement. Once there is a substantial amount of funds to show your creditors, the settlement company will try to negotiate a lower amount of debt.
  • Combines all your debts and creditors into one monthly payment.
  • Allows you to pay one monthly payment to the consolidation company, instead of multiple payments to different creditors.
  • You no longer owe your original creditors; instead you pay one monthly payment to your consolidation company.
  • Consolidation companies can help negotiate lower interest rates on your debts and help lower your total debt payment in the long run. A lower interest rate will lower the amount you owe in the end.
  • Allows you to consolidate all your different debts into one personal loan that can be paid off over time.
  • Can offer borrowers a lower interest rate with a longer payback term (compared to high-interest credit cards or medical bills). This will lower the amount of money required to pay off the loan over time.
  • Personal loan debt consolidation can be an effective way to raise your credit score quickly (within 3-6 months).
  • Borrowers can receive funds from their loan within only a few days.

Want us to review a company?

If there is a debt company that you don't see on our site, and would like us to review, please contact us.

Real Reviews (yes they’re real)

With so many debt relief companies out there, and a lack of sites willing to bring you the HONEST breakdowns of each company, what source can you turn to for the real information you can trust?

We are dedicated to bringing the truth out, and rank debt relief companies as they should be. Through our investigation, and experience with each company, we rank each company, and bring you our honest, unbiased opinion. We also include authentic user reviews by past customers of each company that are moderated and verified.

Like many sites, we are compensated through affiliate relationships with each company we review, however all of our rankings are based on our 11-Point Ranking Criteria.

All reviews are subject to moderation and approval. Any reviews that may resemble false information, or competitors of another company will need to be verified by our staff before being approved and published. We reserve the right to approve or deny any reviews left on this site.
Our Score
4.5
User Score
10.0
Rank this Company

Ratings Breakdown

Monthly Enrollment Fee

Undisclosed

Setup & Activation Fee

Undisclosed

Free Consultation

Yes

Credit Counseling

Yes

ISO Certified

Yes

Number of Reviews

5
Our Score
9.2
User Score
9.4
Rank this Company

Ratings Breakdown

Monthly Enrollment Fee

Up to $79

Setup & Activation Fee

$0-$49

Free Consultation

Yes

Credit Counseling

Yes

ISO Certified

Yes

Number of Reviews

430