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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
    10
    July 1st, 2015 TX
    1 people found this review helpful!
    JoJo Sanchez was wonderful to work with. I could understand every request/question from her. She explained the process in a way that was understandable. She spoke clearly and never once indicated she was not interested in helping us with our personal issues. Customer service was the best.
    Read More
  2. User Score
    10
    July 1st, 2015 Gardendale, AL
    1 people found this review helpful!
    We had a very good experience. She was helpful. She was patient with us when things went wrong. We were pleased with the help we received.
    Read More
  3. User Score
    10
    June 18th, 2015 Pine Bluff, AR
    1 people found this review helpful!
    Jo Jo was awesome & made this process much easier than I expected! Looking forward to a much needed life change for the better!!!
    Read More
  4. User Score
    10
    June 15th, 2015 Alachua, FL
    2 people found this review helpful!
    Monica was great and helpful and also patient, I enjoyed my counselor and experience!
    Read More
  5. User Score
    10
    June 15th, 2015 New York, NY
    1 people found this review helpful!
    Jo Jo was extremely helpful. The budget worksheet is great. Thank you
    Read More
  6. User Score
    10
    June 3rd, 2015 Delaware, OH
    1 people found this review helpful!
    I worked with JoJo. She provided thorough information, answered my questions, and treated me with great respect during a non-so-fun life adjustment.
    Read More
  7. User Score
    10
    May 29th, 2015 South Bend, IN
    0 people found this review helpful!
    Very clear understanding of how to settle debt. Monica very knowledgeable and provided great customer service.
    Read More
  8. User Score
    10
    May 28th, 2015 Mcdonough, GA
    0 people found this review helpful!
    very pleasant experience with competent people
    Read More
  9. User Score
    9
    May 27th, 2015 Williamston, SC
    0 people found this review helpful!
    My Experience wit Jo Jo,was just great,she was very patience and very professional in every way,i am very pleased with the service she gave to me. she is a winner keep her forever.
    Read More
  10. User Score
    10
    May 27th, 2015 West Monroe, LA
    0 people found this review helpful!
    Israel was so nice and professional to help me with the options that I need to take
    Read More
  11. User Score
    10
    May 26th, 2015 Alhambra, CA
    0 people found this review helpful!
    Jo-Jo Sanchez was outstanding, giving me all my options to choose that best suited my situation she did great the whole time got back to me in a timely manner and was very knowledgeable about the company and the information she provided me
    Read More
  12. User Score
    10
    May 26th, 2015
    0 people found this review helpful!
    Monica was awesome with her support.
    Read More
  13. User Score
    10
    May 19th, 2015 Massillon, OH
    2 people found this review helpful!
    Brittany Gregg, the representative who assisted me was very professional, knowledgeable and pleasant to speak with. I was never made to feel embarrassed because of the amount of debt I had. She answered any questions I had and explained everything in detail. She certainly decreased my stress level a bit. I truly thank her for her assistance.
    Read More
  14. User Score
    10
    May 18th, 2015 Morrow, GA
    0 people found this review helpful!
    It was wonderful!!
    Read More
  15. User Score
    10
    May 15th, 2015 Tipton, MO
    0 people found this review helpful!
    my experience with your company was better than I hoped for I thank you very much and will recommend you to any one in need

    thanks Jo Jo

    Read More
  16. User Score
    10
    May 15th, 2015 Waterford, CT
    0 people found this review helpful!
    The people that phoned me and had to leave a message, Megan, Ava, & Madison we’re very friendly and willing to help. As well as the people I spoke to David & Ryan were just as friendly & helpful. Gillian, the one who did all the work was so friendly competent, and explained every detail. For me, it was a big step, and nerve racking, but I owe my gratitude to Gillian.
    Read More
  17. User Score
    10
    May 14th, 2015 Cleveland, OH
    0 people found this review helpful!
    Great people easy to talk to.
    Read More
  18. User Score
    10
    May 14th, 2015 Chicago, IL
    0 people found this review helpful!
    Thank you for your service. it was very helpful
    Read More
  19. User Score
    10
    May 14th, 2015 Bakersfield, CA
    0 people found this review helpful!
    Monica was amazing provided me with different information answered all my questions she definitely likes her job an knows what she is doing had a great experience thank you
    Read More
  20. User Score
    10
    May 13th, 2015 Goose Creek, SC
    0 people found this review helpful!
    Giliane was very help and patient with me and took the time to help me through this process.
    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