Best Debt Companys

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#2
DebtWave Credit Counseling Reviews

DebtWave Credit Counseling

DebtWave specializes in consolidating credit card debt, offers a free consultation and charges relatively low monthly fees in comparison with other companies.

Our Score
8.4
User Score
9.7

Talk to a Debt Counselor   1-(888) 526-9597

Our Score
8.4
User Score
9.7
Rank this Company

Ratings Breakdown

Price

monthly price
$10 - $49

Up-Front Fees

setup & activation fees
$25 - $75

Free Consultation

is one included?
Yes

Time in Business

total # of years
16 years

Credit Counseling

do they offer credit counseling services?
Yes

Certified Credit Counselors

are there certified counselors on staff?
Yes

ISO Certified

is this business ISO certified?
Yes

Number of Reviews

User reviews here on BDC
331

This Review is maintained by Chase Sagum

Review Last Updated: January 2, 2017

Ideal DebtWave Candidate:
  • Up-to-date or less than 3 months behind on their monthly payments
  • Interested in paying down their debt principal
  • Credit card debt

DebtWave Credit Counseling has helped over 13,000 people become debt free since 2001 and enjoys strong loyalty from current and prior clients. The company specializes in consolidating credit card debt at lower interest rates with the help of certified debt counselors for a reasonable monthly fee.

Rank Chart
Monthly Price
Accreditations
Review

#1

Up to $69
FCAA & ISO

#2

$10 - $49
ISO

#3

Up to $39
FCAA & ISO

The Good

  • Low interest rates
  • Low monthly fee
  • Positive customer reviews

Low Interest Rates

DebtWave offers a streamlined debt consolidation process with certified debt counselors available to guide clients every step of the way. Their monthly fees, $10 to $49, are reasonable. Their interest rates on their consolidation loans are also good at 7.63 percent. Between the low monthly price and the good interest rates, customers will be able to save on their debt.

Great Reviews

One of the most impressive things about DebtWave is the loyalty of their clients in praising the company for its transparency, amazing customer service, honesty, and results. Many customers indicate that, unlike other companies they dealt with, the staff at DebtWave actually cared about them and wanted them to succeed.

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The Bad

  • Not licensed in CO, KS, MD, or NY
  • Limited customer service hours

Availability

DebtWave has limited customer service hours, this can be an issue for customers. Currently they are only open on Monday-Thursday from 7am to 5pm (PST), and Fridays 7am to 4pm (PST). This might present difficulties for some in getting a hold of them by phone.

Service Area

DebtWave is not licensed to operate in CO, KS, MD, or NY at this time. This limits the potential customers DebtWave could have in those states. Some competitors offer services in all 50 states.

The Bottom Line

DebtWave has an incredibly well-established track record for providing top-tier customer service and very favorable results for their clientele. Between their affordable rates, professionalism, and track record, we absolutely recommend DebtWave to anyone living in their 46-state service area.

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About DebtWave Credit Counseling

Debtwave Credit Counseling is a non-profit organization that specializes in consolidation by using certified credit counselors to consolidate customers debt into one monthly payment. In the process of consolidating the debt, DebtWave also helps to decrease the interest rate on that debt. DebtWave Credit Counseling also offers services in controlling debt by educating customers about credit reports, budgets, financial goals, and financial education.

Price

The monthly service fee is tied to the number of credit cards enrolled into the program. Typically it ranges from $10 – $49 (less in some states, it depends on where you live).  Payment preferred is automatic debit. Personal checks or cash are not accepted. Once creditors are paid, these fees are typically not refundable. Some very simple plans may potentially be as low as $10 per month. The savings generated typically are much higher than the total amount of fees paid.

Enrollment Fee

A minimum enrollment fee is charged depending on the state you live in. The fee will not exceed $75.  You can obtain a no-obligation quote by requesting a free consultation.

Free Consultation

Yes. An estimated pay off time is provided during the initial consultation. They will also provide information on the best path to debt relief and other topics surrounding your specific debt situation.

Time In Business

16 years. DebtWave was founded in June 2001.

Debt Education

Financial literacy seminars are offered free of charge in the San Diego area. Other tools include on-line debt calculators, “Smart With Your Money” Workbook, Budget Template Worksheet, Debt to Income Calculator, FICO Estimator – calculators you might wish “why didn’t I think of that?” such as the “Hours of Work Required to Make Minimum Payments” Calculator.

Money Back Guarantee

DebtWave does offer a money back guarantee for it’s services. If for any reason you are not satisfied with our services within 90 days of enrollment, we will refund back to you your enrollment fee.

Unsecured vs. Secured Loans

Unsecured credit card debt only.

Mobile Friendly

Their website is not mobile friendly. There is no specific app for their services either, although they do have links and info for obtaining mobile coupon apps for groceries and merchandise.

Cancellation Policy

The program is voluntary as stated in their contract and puts no obligation upon clients; they may cancel any time. There is no fee for cancellation.

Contact Information

Telephone:

1 (877) 934-3003

E-Mail:

[email protected]

Address:

9325 Sky Park Ct. #260

San Diego, CA 92123

Business Hours: (all times are Pacific)

Customer Service: 7:00am – 5:00pm Monday – Thursday; 7:00am – 4:00pm PST Friday

Counseling: 7:00am – 6:00pm Monday – Thursday; 7:00am – 5:00pm PST Friday

Types of Services Available

Debt management, debt consolidation, credit counseling, credit report reviews, budget evaluation and more.

Minimum Debt Accepted

Must have at least $5k in debt to sign up.

Online Dashboard

An online account is available for those with a DebtWave account. The online account allows customers to see the progress of their DMP in real time.

CPFC Certified

All employees at DebtWave are certified personal finance counselors.

ISO Certified

DebtWave is ISO certified.

Dear Potential Client,

We understand that debt and finances are difficult subjects to talk about and deal with. That is why at DebtWave Credit Counseling, Inc. we offer services to help make your life simple.

We provide many services, which include: debt consolidation, free credit counseling sessions, student loan consolidation, a financial education program, and we also participate in community outreach. If you join our debt management program, we can consolidate your credit card debt into one monthly payment, lower your interest rates to single digits, and help you become debt-free in 3-5 years. Before joining this program, a certified credit counselor will even take you through a free credit counseling session, where he or she will pull your credit, review all of your accounts, create a detailed budget, and give you a financial analysis report at the end.

Similar to a credit counseling session, our certified credit counselors can walk you through a student loan consolidation session, where he or she will consolidate all of your loans, create a budget, and look at the many repayment plans offered by the Department of Education. On our website, we also offer a financial education program, where you can read our financial workbook and take a short test afterwards to educate yourself on the basics of personal finance. We also have a few different credit card debt calculators online to help you understand your current situation a little better. Lastly, we provide free seminars, workshops, programs, and services to all members of the community, including the military, high school and college students, and employees and their organizations.

Sincerely,

Antony Murigu, President

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

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Call our recommended rep over at DebtWave Credit Counseling below.

1-(888) 526-9597
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331 DebtWave Credit Counseling Reviews

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  1. User Score
    10
    January 20th, 2017
    0 people found this review helpful!
    Gilliane was most helpful. I made the call to Debtwave as a stressed person and hung up feeling relieved. I didn’t think there was a solution to my situation but Gilliane gave me hope. I will be credit card debt free in 3 yrs and 3 months.
    Read More
  2. User Score
    10
    January 12th, 2017
    0 people found this review helpful!
    Gillian was very helpful and understanding of my current situation. She was very supportive with my goal to pay off debt to start a more organized tomorrow to gradually improve my credit. I can’t thank her enough for all of her time, patience and effort. She was articulate with describing the program and discussed all fees so I will be left with no surprises.

    Thanks again Gilian!

    Tania

    Read More
  3. User Score
    10
    January 11th, 2017
    0 people found this review helpful!
    Rebecca was great! She answered all my questions and concerns. She help me understand what was going on. She was awesome !
    Read More
  4. User Score
    9
    January 10th, 2017
    0 people found this review helpful!
    Helped me get my credit card debt where I could pay it off
    Read More
  5. User Score
    10
    December 29th, 2016 Kent, WA
    0 people found this review helpful!
    Great Customers service and I will recommend family and friends to Debt Wave
    Read More
  6. User Score
    10
    December 15th, 2016
    0 people found this review helpful!
    Very friendly and knowledge of all questions i had to ask
    Keep up the good work.
    Read More
  7. User Score
    10
    December 12th, 2016 Myrtle Beach, SC
    0 people found this review helpful!
    Her customer skills was on point. She answered all my questions respectfully and in a timely manner. Thanks
    Read More
  8. User Score
    10
    December 7th, 2016 Bismarck, ND
    0 people found this review helpful!
    Rebeca was very helpful in every way explained everything in detail and service was fast and joyful
    Read More
  9. User Score
    10
    November 29th, 2016 Newark, NJ
    0 people found this review helpful!
    Ms Rebecca P was a very lovely lady easy to go through this process with always spoke with respect and kindness explained everything so easily all the way through hire more like her she’s really good at what she does
    Read More
  10. User Score
    10
    November 29th, 2016 Chaplin, KY
    0 people found this review helpful!
    A wonderful experience
    Read More
  11. User Score
    10
    November 29th, 2016
    1 people found this review helpful!
    Rebeca was super helpful and nice. She made this experience so much easier!! Thanks Rebeca!
    Read More
  12. User Score
    10
    November 29th, 2016
    0 people found this review helpful!
    The service provided by Ms S was very professional. She was very patient and courteous while allowing me to take my time to ensure that I understood the process. Ms. S walked me through the various options at my disposal. This was a very rewarding experience.
    Read More
  13. User Score
    10
    November 16th, 2016 Lander, WY
    1 people found this review helpful!
    Rebeca was very kind and helpful! She was very informative too!
    Read More
  14. User Score
    8
    November 16th, 2016 Harlingen, TX
    0 people found this review helpful!
    It was great. She was patient and explained a lot to me. I appreciated that a lot.
    Read More
  15. User Score
    10
    November 13th, 2016 Rhinelander, WI
    0 people found this review helpful!
    Very friendly and helpful!!!
    Read More
  16. User Score
    10
    November 10th, 2016 West Covina, CA
    1 people found this review helpful!
    I am a new customer to DebtWave Credit Counseling , Inc.
    I spoke with Jo-Jo S. She was extremely helpful with reviewing my situation.
    I am looking forward to improving my credit score and becoming debt free..
    Read More
  17. User Score
    10
    November 9th, 2016 Saugus, MA
    0 people found this review helpful!
    Rebeca was awesome!!!
    Read More
  18. User Score
    10
    November 4th, 2016 Muskogee, OK
    0 people found this review helpful!
    Very satisfied with the service, everything was explained in way that was understandable.
    Read More
  19. User Score
    8
    November 1st, 2016 Saint Louis, MO
    0 people found this review helpful!
    Rebecca was very professional and personable. She was very helpful in explaining the process and how everything works.
    Read More
  20. User Score
    10
    October 26th, 2016 Reno, NV
    0 people found this review helpful!
    Great customer service! Very fast and efficient, all questions were answered promptly and overall experience with DebtWave so far has been really good.
    Read More

Poll

  • When looking for a debt settlement company, which of these two aspects is most important to you?
  • 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
8.4
User Score
9.7
Rank this Company

Ratings Breakdown

Price

monthly price
$10 - $49

Up-Front Fees

setup & activation fees
$25 - $75

Free Consultation

is one included?
Yes

Time in Business

total # of years
16 years

Credit Counseling

do they offer credit counseling services?
Yes

Certified Credit Counselors

are there certified counselors on staff?
Yes

ISO Certified

is this business ISO certified?
Yes

Number of Reviews

User reviews here on BDC
331
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

Time in Business

total # of years
24 years

Credit Counseling

do they offer credit counseling services?
Yes

Certified Credit Counselors

are there certified counselors on staff?
Yes

ISO Certified

is this business ISO certified?
Yes

Number of Reviews

User reviews here on BDC
387