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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

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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310 DebtWave Credit Counseling Reviews

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  1. User Score
    10
    May 11th, 2015 Spring, TX
    0 people found this review helpful!
    Brittany Greg was a HUGE help for me! I appreciate her caring about my situation!
    Read More
  2. User Score
    10
    May 11th, 2015 Freedom, PA
    1 people found this review helpful!
    Giliane was very helpful and answered all my questions, and then some! I am grateful for her help and professionalism. I’m excited to begin getting my debt paid off.

    Thank you Giliane!

    Read More
  3. User Score
    10
    May 5th, 2015 Saratoga, CA
    0 people found this review helpful!
    I found our experience with Jo Jo We found it to be simplified and extremely beneficial to both of us. This was a very enlightening and positive experience. Thank you.
    Read More
  4. User Score
    9
    May 5th, 2015 Valley, AL
    0 people found this review helpful!
    Great people and very kind
    Read More
  5. User Score
    10
    May 4th, 2015 Rio Rancho, NM
    0 people found this review helpful!
    I had a very good experience with Monica. She answered all my questions and gave the help we needed.
    Read More
  6. User Score
    10
    May 4th, 2015 Indianapolis, IN
    0 people found this review helpful!
    monica was very helpful and professional with helping me thank you very much
    Read More
  7. User Score
    10
    May 4th, 2015 Shelby, NC
    0 people found this review helpful!
    excellent customer care and concern
    Read More
  8. User Score
    10
    May 4th, 2015 Saint Louis, MO
    0 people found this review helpful!
    Giliane was very nice and able to answer all my questions. She explained all the options and I believe helped me pick the best one for my financial situation.
    Read More
  9. User Score
    10
    May 2nd, 2015 Ozark, AL
    0 people found this review helpful!
    thank you for your help
    Read More
  10. User Score
    10
    May 1st, 2015 Orange, MA
    0 people found this review helpful!
    Giliane was so helpful!!! She was very kind and easy going. She explained everything very well! I feel a great amount of relief already!
    Read More
  11. User Score
    10
    May 1st, 2015 Bangor, ME
    0 people found this review helpful!
    Excellent customer service with trouble-free set up. Would highly recommend to others
    Read More
  12. User Score
    10
    April 30th, 2015 Bowling Green, KY
    0 people found this review helpful!
    About the time I had lost all hope about someone helping me to get my financial situation on the right track, DebtWave came through for me. The staff were very nice and helpful. The monthly rates were exceptional compared to what I was trying to pay before. I am so grateful and highly recommend DebtWave to anyone seeking help to get back on track with their financial situation. Thank you DebtWave for helping me.
    Read More
  13. User Score
    10
    April 30th, 2015 Fremont, CA
    0 people found this review helpful!
    DebtWave is wonderful. I would recommend them highly. They have worked with me over the last 3 1/2 years and I am so much better off for it. Thank you very much, I couldn’t have done it so easily without your help.
    Read More
  14. User Score
    10
    April 28th, 2015 Iowa City, IA
    4 people found this review helpful!
    Very comfortable and smooth process. My questions were always quickly addressed.
    Read More
  15. User Score
    10
    April 28th, 2015 New York, NY
    2 people found this review helpful!
    Giliane was great. So informative. I was feeling helpless and scared but now I feel confident. Thank you!
    Read More
  16. User Score
    10
    April 27th, 2015 Selbyville, DE
    2 people found this review helpful!
    JoJo was so patient and helpful. She made me feel important and that she was interested in what was best for me. I truly appreciate all of her help. I also like the fact that I don’t feel alone. I know I can call with questions or for help anytime. Thank you!
    Read More
  17. User Score
    10
    April 27th, 2015 San Diego, CA
    2 people found this review helpful!
    Monica was easy to talk to and knows a lot about her job. Thanks for your support! I would recommend her to anyone that have a problem financially and wanted to be debt free.
    Read More
  18. User Score
    10
    April 23rd, 2015 Lawndale, CA
    2 people found this review helpful!
    Ms. Jojo Shanchez just made my life much easier!!!! Thank you for your help and understanding of my situation… You are definitely a life saver and I will be sure to pass your name on to anyone in my situation!!! Mahalo Nui Loa!!! I truly appreciate you for all you do!!!!
    Read More
  19. User Score
    10
    April 22nd, 2015 Pittsburgh, PA
    1 people found this review helpful!
    Giliane was very helpful and took her time explaining the process to me.
    Read More
  20. User Score
    10
    April 22nd, 2015 Fort Dodge, IA
    1 people found this review helpful!
    Debtwave was very helpful and Damon was very polite. I would highy recommend Debtwave.
    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