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#10
Debt_RX

Debt Rx

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

Our Score
5.7
User Score
10.0

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Our Score
5.7
User Score
10.0
Rank this Company

Ratings Breakdown

Price

% of total / % of debt saved
15-22%

Accreditations

AFCC or IAPDA
IAPDA, AFCC

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?
100%

Number of Reviews

User reviews here on BDC
4

This Review is maintained by

Review Last Updated: August 9, 2017

Since their founding in 1998, Debt Rx has settled millions of dollars in debt. Debt Rx is certified with the IAPDA as a Bronze Member. In addition, they are ISO 9001:2008 certified and follow AFCC guidelines. They offer coverage in 37 states and Washington D.C.

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

#1

15-25%
$7,500

#2

15-25%
$7,500

#3

15-25%
$7,500

#10
Debt_RX

15-22%
$5,000

The Good

  • Extensive Industry Experience 
  • Services Offered
  • Money-Back Guarantee

Extensive Industry Experience

Founded in 1998, Debt Rx is one of the oldest names in the debt settlement industry. That experience means more relationships with more creditors and (hopefully) more favorable settlement terms for clients. One way this experience manifests itself is in the information they present on their website; Debt Rx clearly states that debt settlement isn’t for everyone and they require a minimum debt of $5,000. If they think debt settlement isn’t right for you, they will be upfront with you. The company makes sure to provide you with the proper service to fit your needs.

Services Offered

Debt Rx provides several great services. They offer an online dashboard – this tool allows customers to easily manage their accounts. Another great service offered by the company is an online debt calculator – this is used to help people calculate how much debt they will pay, without settlement, over the course of their lifetime.

Customers may also speak with a representative over the phone. Clients have expressed appreciation for the free consultation and fluent Spanish-speaking customer service agents.

Money-Back Guarantee

Debt Rx promises a money-back guarantee. If they are unable to produce results they will not charge a fee. In addition, they charge $0 in fees until after a settlement is reached. However, they do not guarantee that your debt will be lowered by a specific amount or percentage.

The Bad

  • Limited Availability
  • Potentially High Prices

Limited Availability

Debt Rx is only available in 37 states, and Washington D.C. Potential clients who live outside of these states will have to seek alternative debt settlement companies.

Potentially High Prices

Debt Rx’s fees range from 15 to 22 percent, which is typical for the industry. However, some competitors advertise lower fees. Customers may want to compare prices to guarantee the best deal.

Want to know which debt settlement companies are top rated? Click here

The Bottom Line

Debt Rx offers many great services to customers. We like that they employ Spanish-speaking representatives. Their years of experience, accreditation with the IAPDA, compliance with AFCC guidelines, and money-back guarantee can provide customers with confidence. Customers must verify that Debt Rx is available in their state. We also recommend that customers compare companies to see if Debt Rx offers the best price for their settlement.

View Top Rated Companies

 Time in Business

They have been in business for 18 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.

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.

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4 Debt Rx Reviews

1. Select Your Rating:

4
0=WORST 10=BEST

2. Subject For This Review*(Select all that apply)

3. Review Validation*

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    Sort By:

  1. User Score
    10
    October 12th, 2017 Chevy Chase, MD
    0 people found this review helpful!
    Honest, Kept you well informed and reachable. Would recommend.
    Read More
  2. User Score
    10
    August 7th, 2017 Old Bridge, NJ
    0 people found this review helpful!
    They were honest and upfront with me and no upfront fee. I am greatful
    Read More
  3. User Score
    10
    August 7th, 2017
    0 people found this review helpful!
    I appreciated their honest approach and no fees until they perform, which was lower than other companies I spoke with.
    Read More
  4. User Score
    10
    June 27th, 2017
    1 people found this review helpful!
    Lowest fee and payment I could find. Others wanted 42 months only and they did more. Great settlements so far. Thanks to all especially Stephanie
    Read More

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
5.7
User Score
10.0
Rank this Company

Ratings Breakdown

Price

% of total / % of debt saved
15-22%

Accreditations

AFCC or IAPDA
IAPDA, AFCC

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?
100%

Number of Reviews

User reviews here on BDC
4
Our Score
9.1
User Score
8.9
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
15 Years

Min. Debt

Min. debt accepted
$7,500

Guarantee

money back guarantee?
Yes

Number of Reviews

User reviews here on BDC
978