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#42
Debt_RX

Debt Rx

17 Years in Business, $5,000 min. debt

Our Score
2.0
User Score
--

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Our Score
2.0
User Score
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Ratings Breakdown

Price

% of total / % of debt saved
Avg 22%

Accreditations

AFCC or IAPDA
None

Free Consultation

is one included?
Yes

Time in Business

total # of years
18 Years

Min. Debt

Min. debt accepted
$5,000

Guarantee

money back guarantee?
Unknown

Number of Reviews

User reviews here on BDC
0

This Review is maintained by

Review Last Updated: December 21, 2016

Debt Rx, a subsidiary of Debt Settlement Group, is one of the longest standing debt settlement companies in the nation with 17 years of business under their belt. Their debt negotiators have helped numerous Americans settle millions of dollars to date in unsecured debt types.

Rank Chart
Price (% of debt)
Smallest Debt Accepted
Review

#1

15-25%
$15,000

#2

15-25%
$7,500

#3

15-25%
$7,500

#42
Debt_RX

Avg 22%
$5,000

The Good

Debt Rx and the Debt Settlement Group have been in the debt settlement business for quite some time having established themselves as experts in debt settlement cases. This is because they have taken the time to build trusted relationships with many of the largest collection agencies in the nation, and pay them thousands of dollars each month to secure those relationships.

A free phone consultation is offered where professionals will determine qualification and assess the financial status of potential applicants. Those who are ideal candidates for their settlement services are those with a financial hardship, such as loss of income, disability, job loss, and divorce and are unable to make monthly payments to creditors. They also offer services to Spanish speaking Americans providing a staff fully fluent in the language.

During a more in-depth consultation, representatives will go over and discuss the benefits to each option in debt resolution including:

  • Debt Settlement
  • Reducing Payments
  • Credit Counseling
  • Private Financing
  • Refinancing
  • Bankruptcy
  • Corporate Workout
  • Home Rescue
  • Consolidation Loans

While the Debt Settlement Group provides a broad range of services, the Debt RX site is aimed specifically toward candidates interested in settlement services. This counseling service opens the door for financially confused consumers to help in making a secure decision on which method to take when resolving their debts and financial obligations.

Prices vary greatly and are all determined on an individual basis. Pricing factors include the amount of total qualifying debt enrolled into the settlement program, duration of the program term, and the candidate’s state of residence. On average, clients can expect to pay 22% of the total amount of debt enrolled, although some states mandate a lesser amount, such as 17%.

Highlights to this company include:

  • 17 years industry experience
  • Broad range of services
  • Millions of dollars settled
  • $5,000 minimum amount of debt

The Bad

Although this is one of the longest standing settlement companies in America boasting 17 years of experience, we have a some concerns about company transparency, including their lack of AFCC and IAPDA accreditations.

Upon calling the number on the Debt RX site for a consultation we were connected to an automated message informing us they were the Debt Settlement Group and have saved our number to call us back when it was convenient for them. We have yet to receive a call. On the other hand, Debt Settlement Group answered us in a timely fashion and provided answers to questions no apparent on either company website. What we would like to see is some company transparency as to who they are and what name they operate under, along with information on company fees, or even a ballpark range.

Another concern is a strictly limited 10-minute phone consultation as explained on the Debt RX website. A more in-depth consultation may be required to look further into collection notices, specific bills and loan agreements, before enrolling in the company’s services.

The company provides few tools and resources to help consumers become financially independent which demonstrates lack of responsibility when it comes to their clients’ financial maintenance.

Compare to the top rated debt settlement companies

The Bottom Line

Overall, Debt Rx might be a good fit for those in their service area with a smaller amount of debt owed. Having said that, we generally prefer less expensive companies with more accreditations and money back guarantees. With that in mind, we do not recommend Debt Rx to customers at this time.

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Contact Information

Website: detrx.com
Email: [email protected]
Phone: 1-866-601-7857
Address:
13017 Wisteria Dr. #443
Germantown, MD 20874

Time in Business

They have been in business for 17 years, which is a long time for a debt settlement companies. Many companies that were around before 2008, when additional legislation was implemented, are not in business anymore.

Debt Education

Debt Rx doesn’t offer any official debt education programs or services, but they are happy to help explain things to each client and make sure they understand the process every step of the way.

Mobile-Friendly Site

No, their site is not mobile friendly, nor do they have a mobile app.

Services Provided

Debt Rx focuses on debt settlement/negotiation practices as their specialty. They work to negotiate a lesser total owed with each of your creditors so that the eventual amount paid is less than the original amount owed.

Additional Notes

Their team has helped to settle millions of dollars of unsecured debt and they are promoted on sites such as “Power Profiles” and “MSNBC” for their quality services. They offer a free, 10 minute consultation over the phone to start with, as well as a way to “talk live” via the website with one of their representatives to answer questions upfront. Debt Rx is able to help you settle credit card debt, unsecured loans, unsecured personal loans and personal lines of credit, collections, repossessed cars and medical bills. They can’t, however, settle taxes, auto loans, government loans, student loans, secured debts, home loans, IRS debt or mortgages. Those who have experienced a reduction of income, an illness in the family, a divorce, a disability or a loss of a job are encouraged to call.

Online Dashboard

For debt settlement, they do not offer an online customer dashboard, though they do offer log in access to clients that use consolidation loans to pay off debt. This access will show you what you owe and payments that are made to it.

Accreditations

No, they do not have an accreditation with the AFCC or IAPDA.

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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
2.0
User Score
--
Rank this Company

Ratings Breakdown

Price

% of total / % of debt saved
Avg 22%

Accreditations

AFCC or IAPDA
None

Free Consultation

is one included?
Yes

Time in Business

total # of years
18 Years

Min. Debt

Min. debt accepted
$5,000

Guarantee

money back guarantee?
Unknown

Number of Reviews

User reviews here on BDC
0
Our Score
9.1
User Score
8.8
Rank this Company

Ratings Breakdown

Price

% of total debt
15-25%

Accreditations

AFCC or IAPDA
AFCC & IAPDA

Free Consultation

is one included?
Yes

Time in Business

total # of years
14 Years

Min. Debt

Min. debt accepted
$15,000

Guarantee

money back guarantee?
Yes

Number of Reviews

User reviews here on BDC
754