- Up-to-date or less than 3 months behind on their monthly payments
- Interested in paying down their debt principle
- 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.
DebtWave offers a streamlined debt consolidation process with certified debt counselors available to guide clients every step of the way. Monthly fees (up to $49) are reasonable, as are the interest rates on their consolidation loans (7.63%). Additionally, the company carries an A+ rating with the BBB and ISO 9001 certification, which are both indications the company is operating legitimately and doing right by customers.
One of the most impressive things about DebtWave is the loyalty of their current and former 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, often going out of their way to mention specific representatives by name.
- Reasonable monthly fees (up to $49/month)
- Good interest rate (7.63%)
- Free consultation
- Certified debt counselors
- ISO accredited
One thing to be aware of with DebtWave is that its customer service hours are more limited than some of the competition. 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. Additionally, DebtWave is not licensed to operate in CO, KS, MD, or NY at this time.
Although DebtWave absolutely offers considerable long-term savings for their clients, the initial setup cost (up to $75) runs just a few dollars more than some of their competitors. Again, taking the long-term view, this initial cost shouldn’t be an issue, but it is worth pointing out.
- Not licensed in CO, KS, MD, or NY
- Limited customer service hours
- Slightly higher setup fees than usual (up to $75)
The monthly service fee is tied to the number of credit cards enrolled into the program. Typically it ranges from $5.00-$49.00 (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 $5 per month. The savings generated typically are much higher than the total amount of fees paid.
A minimum enrollment fee is charged depending on the state you live in. The fee will not exceed $75. (For example, the fee in Utah is $50.00. Other states may be less.) You can obtain a no-obligation quote by requesting a 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
14 years. DebtWave was founded in June 2001.
They have an A+ rating with the BBB. It’s the result of years in business and satisfactory resolution of four complaints during that time. They are accredited with the organization as well.
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.
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.
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.
1 (877) 934-3003
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.
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.
All employees at DebtWave are certified personal finance counselors.
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.
There is a reason why we have an A+ rating with the Better Business Bureau. It is because we are a nationwide, nonprofit consumer credit counseling agency that delivers excellent customer service and simple solutions to your financial needs. It is our passion to provide you with the best education and most appropriate programs to manage your credit card debt and reach financial freedom.
We are always here to provide debt relief, so give us a call at 1-(888) 526-9597 or click “Get Free Quote” above.
Antony Murigu, President
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