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DebtWave Credit Counseling Reviews
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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
9.6
Our Score
8.4
User Score
9.6
Rank this Company

Ratings Breakdown

Monthly Enrollment Fee

$10 - $49

Setup & Activation Fee

$25 - $75

Free Consultation

Yes

Credit Counseling

Yes

ISO Certified

Yes

Number of Reviews

310

This Review is maintained by Chase Sagum

Review Last Updated: April 15, 2019

  • Low-interest ratesBetween the low minimum payments and the good interest rates, customers will be able to save on their debt, whether it be credit card debt or other.
  • Reasonable fees: DebtWave’s monthly fees for counseling service, $10 to $49, are reasonable for the industry. 
  • Great reviews: One of the most impressive things about the DebtWave program is the loyalty of their clients in praising the company for its debt consolidation services and debt counseling services. 
  • Limited daily availabilityTDebtWave non-profit credit counseling has limited customer service hours, this can be an issue for customers. 
  • Somewhat limited service area: DebtWave is not licensed to operate in CO, KS, MD, or NY at this time. Some competitors offer debt management services in all 50 states.
  • Our recommendation: DebtWave has a well-established track record for providing top-tier customer service and favorable results. Between their affordable rates for credit and debt counseling, professionalism, and track record, DebtWave is a great option to anyone living in their 46-state service area. If you are looking for other options, we recommend also considering Consolidated Credit

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

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310 DebtWave Credit Counseling Reviews

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  1. User Score
    8
    September 26th, 2018 Saint Paul, MN
    6 people found this review helpful!
    My experience with Debtwave has been pretty decent. Once you’ve decided to work with the company, they do a great job at keeping you in the loop with every step of the process. One of the most important things I can advise anyone who’s looking to utilize this service: MAKE SURE you call your creditors as instructed by the credit counselor to change your due dates. If you do not change your dates to align with the creditor posting of payment, you will incur late fees and it will take more time to pay off your debt than anticipated. Debtwave is very clear about this when they are going through the process. I’m saving about $200 per month consolidating my debt with them, and they’ve been a huge life saver for me. Please note: My credit score TANKED after using this service, HOWEVER – Once my debt is paid off, my score will go back up. I’m saving almost 43 years in paying off my debt, and to me that’s more important than my credit score. Thank you, Debtwave, for giving me the financial relief I needed. I would recommend this service to any family member or friend looking for alternate options to resolving their debt issues.
    Read More
  2. User Score
    9
    September 8th, 2018
    0 people found this review helpful!
    this service has allowed me to consolidate some debt and lower interest rates on this credit cards so that now I can concentrate on other expenses
    Read More
  3. User Score
    8
    September 8th, 2018
    2 people found this review helpful!
    Chris M has always been helpful. I am glad that the debt burden was taken off my back. Thanks
    Read More
  4. User Score
    10
    September 7th, 2018
    0 people found this review helpful!
    Debt Wave has been very helpful for me and my credit problems.
    Read More
  5. User Score
    9
    September 6th, 2018 Bedford, OH
    5 people found this review helpful!
    I am grateful for the staff, plan, and results of working with Debtwave. No doubt I was in financial trouble totaling 19k with no hope or plan. I appreciated them contacting my credit cards, negotiating a better %, and setting up the agreement to paying back. I stuck to the Debtwave plan and in 5 more months I will have 6 credit cards paid off. I just wish I did it earlier. BEfore this I was running out of credit options, now my credit score is near 800 and I am getting offers every day. The education piece of Debtwave has taught me what to look for helping me be better borrower in the future.
    Read More
  6. User Score
    10
    August 31st, 2018
    1 people found this review helpful!
    Dawn S has been a pleasure to work with!
    Read More
  7. User Score
    10
    August 17th, 2018 Westport, CT
    1 people found this review helpful!
    Debt wave and my representative Dawn S have been wonderful. I will be completely out of debt in a few months and couldn’t be happier.
    Read More
  8. User Score
    10
    August 13th, 2018 Hannibal, MO
    1 people found this review helpful!
    Dawn was extremely helpful and courteous to my concerns, and helped me resolve my issues due to unforeseen medical conditions. She was very personable and I truly appreciate her demeanor toward me, always am happy to speak to her if I have a problem!
    Read More
  9. User Score
    10
    July 22nd, 2018
    3 people found this review helpful!
    Best experience I ever had
    Read More
  10. User Score
    10
    July 14th, 2018
    2 people found this review helpful!
    Best customer service I have experienced
    Read More
  11. User Score
    10
    July 2nd, 2018 Millington, NJ
    2 people found this review helpful!
    Great job
    Read More
  12. User Score
    9
    July 2nd, 2018 Youngstown, OH
    5 people found this review helpful!
    We needed some extra help and DebtWave was there to help us. It has been great these past 3 years getting $30,000. worth of debt being taken care of by somebody else and all we had to do was make one easy payment per month. The only downside of the whole thing is that your credit doesn’t really get the boost because you have to close all your accounts in order to get the better interest rate and lower monthly payment but on the upside, your debts are being paid off in 4 years! Awesome! Could have never done this without Debtwave!
    Read More
  13. User Score
    10
    July 2nd, 2018 Athens, TN
    0 people found this review helpful!
    Debtwave helped us to get on the right track to getting out of debt. They did what they promised by helping to lower my interest rates and get all my payments into one monthly payment. From there, they continued to fulfill promises by making each monthly payment and helping us to reduce our debt over $18000!
    Read More
  14. User Score
    10
    June 27th, 2018 Berlin, NJ
    1 people found this review helpful!
    Dawn S. has been wonderful through our whole experience with DebtWave.
    Thank you Dawn!

    John & Tara B.

    Read More
  15. User Score
    10
    June 27th, 2018 Milwaukee, WI
    2 people found this review helpful!
    DebtWave has met and exceeded my expectations! They were easy to contact and set up my repayment plan with my creditors. They keep me informed on my progress, email me periodically to check in, and occasionally call. Their communication is always with purpose and informative. I appreciate their service and working through my indebtedness with my creditors.I was able to set up the repayment plan and keep my “pay on time” status with them.
    Read More
  16. User Score
    10
    June 27th, 2018 Charleston, WV
    3 people found this review helpful!
    I have been on the Debt Management Program (DMP) with DebtWave since December 2014. My wife and I faced financial hardships, medical bills, credit card debt, etc… I am happy to say that in a few more months that we will be credit card free! This program has allowed us to pay off all of our credit cards (most of which were high interest) with a total balance of over $30,000 in less than four years. Dawn S. and Christopher M. have been wonderful counselors and very helpful. DebtWave’s customer service has been excellent, as they are always timely in responding and understand your needs. Looking back upon this experience to help our family achieve financial goals, I wouldn’t say that a DMP is the best route for every consumer in debt; however, if a DMP is the best possible solution for your financial scenario, I would highly recommend DebtWave over any other company out there providing these services. To figure out whether or not a DMP is the correct solution for you or your family, DebtWave offers great assistance in evaluating your scenario. If you have multiple credit cards with high interest and don’t think there is any light at the end of the tunnel, I would call DebtWave today. Thank you, DebtWave, for providing great assistance in helping my wife and I become credit card free!
    Read More
  17. User Score
    10
    June 27th, 2018
    3 people found this review helpful!
    I LOVE DebtWave! The fees are much cheaper than the competition and the representatives are always friendly and understanding of my situation.
    Read More
  18. User Score
    10
    June 21st, 2018 Oak Lawn, IL
    3 people found this review helpful!
    Dawn was great with adviceand information that was appreciated – she truly seems to care about her customers.
    Read More
  19. User Score
    10
    June 19th, 2018 Jackson, MI
    3 people found this review helpful!
    Nothing but good things to say about Debt Wave. Thanks to the Debt Wave team my wife and I are debt free and it only took about 1 1/2 years. Credit score went from very low 400’s to 726. Thanks again Debt Wave!!!!!!!
    Read More
  20. User Score
    10
    June 14th, 2018 Miami, FL
    6 people found this review helpful!
    I have to say, prior to signing up with DebtWave I did my research and they came up as one of the top three on my list to choose from as far as who I wanted to use to consolidate my debt. Originally I was helped by Monica A. who was very attentive and patient with me and answered any doubts I had about signing up. I then came in contact with the person who was to be handling my account, Chris M., who was also provided great customer service. He explained everything in detail, made suggestions and gave me great advice. I never felt pressured about making any decisions throughout this whole process and both Chris and Monica made me feel like I could trust this company with handling my debt. After the first month, I checked my credit score and to my surprise, my credit had already gone up 50+ points; I was in disbelief. I didn’t think this would start helping my credit so quickly. Overall I am satisfied above and beyond my expectations with the customer service I received and also confident that I chose the right company for my credit needs. Thank you Debt Wave!
    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.

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Our Score
8.4
User Score
9.6
Rank this Company

Ratings Breakdown

Monthly Enrollment Fee

$10 - $49

Setup & Activation Fee

$25 - $75

Free Consultation

Yes

Credit Counseling

Yes

ISO Certified

Yes

Number of Reviews

310
Our Score
9.0
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

425