Eagle One Debt Solutions merged with a larger debt settlement company in 2010 and is now operating under National Debt Relief. This company specializes in debt negotiation services. We do not recommend them as highly as some of the other companies we’ve reviewed offering more debt education, a more straight-forward process, and an online dashboard.
More companies may be viewed here: Best Debt Settlement Companies.
The Good
This company is accredited by the IAPDA, so consumers are able to rest assured this team of representatives knows how to get debts settled.
The company requires consumers wishing to enroll in their settlement services to have a minimum of $7,500 in unsecured loans such as credit cards, medical bills, department store cards, personal loans and collection accounts. This company has a broader range than most working with several types of debt. They may also handle some forms of secured debt such as private student loans.
A Special Purpose Account must be set up by each client where monthly escrow payments will be made by the in order to save enough funds for arbitrators to negotiate debt with creditors. The amount is predetermined based on what clients are able to afford on a monthly basis. Once debts are settled they claim their fee, which is outlined at 25% on the company website. However, representatives said fees can be as low as 18%, with the average running at 21%.
As with any credible settlement company, no up-front fees will ever be charged and a money back guarantee exemplifies they stand behind the results clients see.
Other factors helping this company stand out are the vast array of educational resources and tools on the Eagle One Debt Solutions website. Consumers are provided a Financial Success Kit with information pertaining to household financial planning. Another resource is their e-book, How to Drop Debt Weight and Become Financially Fit. This 30-page book is provided to all consumers free of charge. They also have a link recommending books for debt solutions.
Company highlights include:
- IAPDA accreditation
- Free consultation
- $7,500 minimum debt enrollment
- Abundance of resources on Eagle One Debt Solutions website
The Bad
This company lacks transparency when it comes to pricing and overall company structure. In our conversations with customer service representatives, we were informed by one affiliate fees are as low as 18%, whereas other representatives claimed fees were as low as 15%. We would like to see more consistency from the company collectively.
Another concern is their objective to settle debts in 24 to 48 months, especially under the criteria that debts must be past due. This term is quite lengthy especially if debts are already past due, meaning the lengthier the term, the more interest will accrue within each debt and also increases chances for litigation.
The Bottom Line
The fact that they are owned by National Debt Relief causes us to recommend another company. We recommend the consumers take advantage of their useful tools on the Eagle One Debt Solutions website. However, we must recommend taking a look at our top recommended companies to see if they can provide more transparency when it comes time to get those debts settled.
Time in Business
9 years. They were established on June 16, 2006.
Debt Education
Overall, the education offering appears par for the industry. Nothing terribly special. The website has a Resources page that features many different types of educational tools which can be utilized from home. These tools include a dictionary that clarifies financial terms, a blog containing expert information regarding debt management, and a financial success kit that acts as a guide to financial freedom. There is also a free e-book titled How to Drop Debt Weight and Become Financially Fit: The Ultimate Guide to Credit Management and Debt Alleviation. This e-book is 30 pages long and details step-by-step advice for getting out of debt successfully.
Mobile-Friendly Site
They do not have a mobile-friendly website. The website is relatively user-friendly and seems to function adequately, but the text and images are very small.
Contact Information
Email Address:
Address:
11 Broadway Suite 1300
New York, NY 10004
Business Hours:
Monday-Thursday 9 am-7 pm
Friday 9 am-5 pm
Closed Weekends
Online Dashboard
Yes, they have a very nice online dashboard for clients. You can access documents related to your case and see messages from your financial team, as well as having access to debt management resources.
Accreditations
No, Eagle One Debt Solutions does not have an AFCC or IAPDA accreditations.
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- 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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