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#23
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Debt Reduction Services Reviews

Reviews of Debt Reduction Services from real customers
(0 verified)

Our Score
3.0
User Score
--

See Top Rated

Our Score
3.0
User Score
--
Rank this Company

Ratings Breakdown

Price

monthly price range
Undisclosed

Up-Front Fees

setup & activation fees
Undisclosed

Free Consultation

is one included?
Yes

Credit Counseling

do they offer credit counseling services?
Yes

Certified Counselors

are there certified counselors on staff?
Yes

ISO Certified

is this business ISO certified?
Yes

Number of Reviews

User reviews here on BDC
0

Overall Score

Based on ranking criteria
3.0 /10

Consolidated Credit

Compared to industry leader
9.3 /10

This Review is maintained by Chase Sagum

Review Last Updated: November 14, 2018

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 $69
FCAA & ISO

#2

$10-$40
AFCC & IAPDA

#3

$10 - $49
ISO

#23
debt-reduction-services-review

Undisclosed
FCAA & ISO

The Good

  • Certified credit counselors
  • AICCCA and ISO accredited
  • Money-back guarantee

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

The Bad

  • Lacking transparency
  • Aggressive tactics

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.

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The Bottom Line

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.


About Debt Reduction Services

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.

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  • 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.

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Our Score
3.0
User Score
--
Rank this Company

Ratings Breakdown

Price

monthly price range
Undisclosed

Up-Front Fees

setup & activation fees
Undisclosed

Free Consultation

is one included?
Yes

Credit Counseling

do they offer credit counseling services?
Yes

Certified Counselors

are there certified counselors on staff?
Yes

ISO Certified

is this business ISO certified?
Yes

Number of Reviews

User reviews here on BDC
0

Overall Score

Based on ranking criteria
3.0 /10

Consolidated Credit

Compared to industry leader
9.3 /10
Our Score
9.3
User Score
9.4
Rank this Company

Ratings Breakdown

Price

monthly price range
Up to $69

Up-Front Fees

setup & activation fees
Up to $49

Free Consultation

is one included?
Yes

Credit Counseling

do they offer credit counseling services?
Yes

Certified Counselors

are there certified counselors on staff?
Yes

ISO Certified

is this business ISO certified?
Yes

Number of Reviews

User reviews here on BDC
424

Overall Score

Based on ranking criteria
9.3 /10