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NetDebt
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#19
NetDebt

NetDebt

NetDebt offers flexible weekend hours and free debt settlement consultations. We could find no industry accreditations.

Our Score
4.0
User Score
1.6
Our Score
4.0
User Score
1.6
Rank this Company

Ratings Breakdown

Price - % of Debt

25%

Accreditations

AFCC

Free Consultation

Yes

Min. Debt Accepted

$5,000

Money-Back Guarantee

Yes

Number of Reviews

28

This Review is maintained by

Review Last Updated: August 2, 2019

NetDebt’s trained debt negotiation experts hold over 60 years of combined experience. They have helped resolve hundreds of millions of dollars in unsecured debt for thousands of consumers across the country. The company specializes in debt settlement for unsecured debt, like credit card debt, hospital or medical bills, department store card debt, and unsecured personal loans.

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

#1

15-25%
$7,500

#2

15-25%
$10,000

#3

15-25%
$7,500

#19
NetDebt

25%
$5,000

NetDebt does not typically help with student loans, but occasionally it will make exceptions for student loans on a case-by-case basis. This is good news since many people have large amounts of student loan debt.

The Good

Free Consultation and No Upfront Fees

NetDebt offers potential clients a free consultation to review their financial situation and answer their questions about debt settlement. When potential clients enroll in NetDebt’s program, they do not pay any upfront fees. NetDebt only charges fees when a successful settlement is reached.

 $5,000 Minimum Debt Requirement

NetDebt has one of the lowest minimum debt requirements in the industry. Most other debt settlement companies require a minimum debt of $7,500 or $10,000.

Online Dashboard

NetDebt offers clients online access through its website. This is where you can access information about your debt settlement account with them and handle communication preferences like texting and other features. NetDebt also has an app for those with smartphones.

View Best Debt Relief Companies

The Bad

Negative NetDebt Reviews

NetDebt customers rate them an average of 1.7 out of 10 on Best Debt Companys. Many customers mention that monthly payments were either unclear or changed while in the program. Time to pay off time also changed for some reviewers. Overall, many were unclear about the expectations. In addition to unclear expectations, NetDebt reviewers also mention…

  • Poor negotiation with creditors
  • High cost
  • Poor customer service from NetDebt

NetDebt Review from 2019

Review of NetDebt 2019

Large Cost

Debt settlement companies typically charge a certain percentage of the total enrolled debt for their services. NetDebt’s costs are at the high end of the spectrum. It charges 25 percent of the total enrolled debt.

Other companies have a range of percentages, starting at 15 percent and capping at 25 percent.

Limited Financial Education

If you’re looking for additional assistance through actual debt education, this might not be the best company for you.  NetDebt will gladly assist you with resolving your debt issue through consolidation or debt negotiation, but it doesn’t really offer much in the way of education on how to avoid more debt in the future, manage current debts, or the choices that lead to overwhelming debt in the first place.

Debt consolidation and credit counseling companies offer clients more in the way of financial education. NetDebt can, however, point you in the right direction on where you might seek some debt education assistance elsewhere. 

No IAPDA Accreditation

NetDebt is not accredited by the International Associate of Professional Debt Arbitrators (IAPDA). The IAPDA offers training and certification to debt relief companies.

Freedom Debt Relief charges 15-25% of total debt enrolled.

The Bottom Line

While NetDebt has a low minimum debt requirement and great usability features, like the online dashboard, it charges one of the highest percentage rates in the industry.

Potential clients should consider customer NetDebt reviews before working with NetDebt. There are better settlement companies to work with.

View Best Debt Relief Companies

NetDebt’s 3-Step Program

NetDebt has set up a 3 step program toward becoming debt free.

The first step is to enroll in one of their programs. Keep in mind that you won’t pay any fees what until a debt has been settled. Everything is put in writing so that informed decisions can be made ahead of time.

Next, NetDebt will work on negotiations with creditors on behalf of the client to negotiate the total enrolled debt down. Clients generally stop making payments on their debts and put that money into a separate account. While this will hurt clients’s credit scores, each monthly payment to the savings account builds the lump sum that will be used to pay the settlement later.

Lastly, once the debtor has accepted the new settlement at its discounted rate, funds are transferred to the creditor from a savings account set up for the purpose of keeping the monthly payments.

Debts are paid off in an established time frame based on the debtor’s monthly available funds and the total amount of debt that has been accrued.

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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28 NetDebt Reviews

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  1. User Score
    0
    August 21st, 2019
    0 people found this review helpful!
    do your homework before you get suckered in on this scam. They take your money and send you the same email every month an do nothing else.
    Read More
  2. User Score
    0
    June 30th, 2019
    1 people found this review helpful!
    After finding out just what Net Debt was basically they wait until your debt is sold to a debt collector. That’s when they pay your debt off. They only pay a fraction because that’s all that was payed by the debt collection company. People YOU CAN DO WHAT THEY ARE DOING ALL ON YOUR OWN. THEY DO NOT STOP THE CALLS FROM CREDITORS THE CALLS KEPT COMING EVEN TWO MONTHS LATER. SO AFTER TWO MONTHS I CANCELED THIS OBVIOUS JOKE OF A SOLUTION. IT DIDNT MATTER THAT I WAS SICK WITH THROAT CANCER. THEY SENT ME A CHECK FOR 334.86 BUT THEY TOOK TWO MONTHS OF MONEY OUT OF MY ACCOUNT WHICH WAS ALMOST 800.00. ALL I CAN SAY IS SCAM AND SHAME ON YOU FOR PRAYING ON PEOPLE THAT ARE ALREADY HAVING HEALTH PROBLEMS.. RUN AWAY FOLKS JUST RUN
    Read More
  3. User Score
    0
    March 28th, 2019
    5 people found this review helpful!
    ruined my credit in only 3 months bills went into collections and no payment was made to my creditors this is just as bad as bankruptcy i got out of this program going into my 4th month of payments hopefully they refund all my money i put into it .
    Read More
  4. User Score
    0
    March 27th, 2019
    3 people found this review helpful!
    I can’t believe this company. I’m so upset because I signed up 36 months ago. My last payment was suppose to be March of 2019. So now I learned, I have to pay 544.30 for an extra 9 months !!! , till December. I decided to call, asked a bunch of questions…. none were answered. I asked” after December will I be surprised with something else.” Guess what?! I have to pay an additional 2 months. Total of 11 months more. 36 months turn to 47 months. I did decide to tape the conversation. My best advise is to call your credit card, and come up with a settlement with them. You will save and be debt free quicker and will save 1000’s and 1000’s of dollars. I am paying them an additional 11months – $ 5987.30. The total of my accounts they received after the settlement . They got an EXTRA $8000.00 in 3 years, to the settled amount. Which is fine… But still a lot of money, that I don’t have. I work at Walgreens and most of all my money goes to them. but the extra 11 months is sooo unfair. The word to watch out for is ……estimated time. The estimated time changes a month before, or 34 months later. Hope this will help. This is the worst ever… they are really bad,rude people who steal. I’m lucky, I work next to some fancy lawyer office who will be reviewing my contract for free :)…. Gosh
    Read More
  5. User Score
    0
    March 22nd, 2019
    2 people found this review helpful!
    Hate the service! Ended up getting a judgement against me and my credit is ruined! I am almost out of this nightmare!
    Read More
  6. User Score
    0
    March 7th, 2019
    2 people found this review helpful!
    The only way to describe net debt are thives I paid 274.08 per month. For 1year for a total of3288.96 they settle one account for 2275.00 after their fee the remaining balance in my account is 11.56 Do the math that. 1100.00 plus for really do nothing get out. Now before this happens to you YOU BEEN WARNED
    Read More
  7. User Score
    1
    January 8th, 2019 Kansas City, MO
    6 people found this review helpful!
    Very poor service. They are after your money. They charge so much that you owe even more money. Scam. Save yourself additional headache and stress.
    Read More
  8. User Score
    0
    December 17th, 2018 Hudson, NY
    5 people found this review helpful!
    Their fees are outrageous. I asked what total amount would be because I came into some money. I gave them 11071.14 And 3 months later they want $2000 more. That was a specific amount. They wouldn’t settle my last account. Customer service was awful. Every time I called I got a run around.
    Read More
  9. User Score
    6
    October 21st, 2018 Brooklyn, NY
    2 people found this review helpful!
    So far I been Paying into my Net Debt Safe Account for 9 months now.. I will give my full Optimistic yet humble honest opinion when I reach the 12-13 Month mark..
    I still receive non stop letters from all my Former Credit Card Companies- Even after I told them and sent All the Paper work over to My NetDebt Associates. They still haven’t sent what was required.. But now that I been paying $310 per month for 9 months now, my savings is up to well over $2500… But I was told by a Sibling with major Authority to wait until my Sum adds up to about $3000. He said there is no Reason for them not to start “informing” my Credit Card MERCHANTS & do What they told me what they will do… I have faith in them and I know they will Gain Good Notoriety when my Debt term is fully paid and executed…”
    • (Just advice for anyone considering teaming with NetDebt): I advise you to do so but “I record all my conversations for moral Proof.So in case of any dis-info/ incompetence surfaces from NetDebt, I’ll have peace in mind, having no worries about what if’s” cause You Never Know! Things can arise on those who sleep”
    ;like I read in a review 4 months ago.. So NetDebt got my Vote because I’m a positive being.
    Even tho I created some storms to put myself in hock.. & there’s nothing Negative about that.. Only Positive See-I’ve became Aware that the storms were meant to occur in order for a Better Perspective: “And that’s, “ If you want to find a rainbow you must first see the rain..”
    Read More
  10. User Score
    0
    September 28th, 2018 Oklahoma City, OK
    9 people found this review helpful!
    I received a debt collection call from someone that I did not seek out, whom knew a little bit about me, but did make significant assumptions about my finances and debt. I was then transferred to another individual whom was nice at first, but as I began asking questions became more belligerent. One of his pitches to me was that they have helped “thousands” of people nation wide. When I asked him how many people they helped he said that it was in the thousands, but could not give me a number. I asked him what % of the nation amounted to 1,000 people and he said “If your so good with numbers, why are you in debt?”.

    I then informed him that I would further research their organization before deciding to contract with them. I asked them what their physical address was and he refused to provide that information. After refusing I reminded him that address were public information; to which he said “then you can look it up for yourself”.
    DON’T DO BUISNESS WITH AN ORGNIZATION THAT REFUSES TO PROVIDE BASIC INFO AND CHOOSE TO BE RUDE TO PERPECTIVE CUSTOMERS!!!!

    Read More
  11. User Score
    0
    August 8th, 2018 Tampa, FL
    8 people found this review helpful!
    This company is a fraud! No body should ever consider this as an option when dealing with debt!
    They will steal one half of all payments you make to them. Beware!
    Read More
  12. User Score
    1
    April 26th, 2018 Albuquerque, NM
    14 people found this review helpful!
    After being promised 10/25/16 over the phone that my $16,000 debt would be paid off in 24 months at my $404 monthly charge, and after asking if this is correct and no extra charges or fees would be added at least 3 times and each time I was assured that this is the truth, I got a call 18 months in from “anther department” stating that in order to pay off the next credit card debt, I needed to pay for 4 more additional months at $404 a month. I was also told that it didn’t even include a $1600 medics bill they still needed to negotiate. So after I got off the phone I did some checking, and a couple weeks ago I received an email 4/11/18 stating “congratulations, your $1600 medical bill has been negotiated down to $488!. I called back and it was “explained to me” that the medical office bought back my account that had been sold to a collection agency and that the $488 negotiated amount had later been rejected and the medical office would “probably sell it to another collection agency” then net debt would have to re-negotiate it. So this would then cause me to pay past the initial promised 24 months, passed the next 4 added months and be another 2-3 months for a total of nearly 3 years and not 2. I just may go slit my wrists this is more stress than I signed up for.
    Read More
  13. User Score
    0
    March 8th, 2018 Yorba Linda, CA
    11 people found this review helpful!
    They are not good at negotiating with creditors. They settle debts at a higher rate than I ended up having to do on my own because they were not doing their job. They completely ignored a summons I received and paid off a different creditor than the one I received the summons from. They hassled me because I negotiated with some of the creditors on my own (because they weren’t doing their job). They lied to me about which creditors they were going to pay off, when they were going to pay them off and how their services worked. At the initial set up their services sounded great but once you got into the real meat of the program it was useless and harmful!
    Read More
  14. User Score
    0
    February 27th, 2018 Brooklyn, NY
    7 people found this review helpful!
    I just spoke to a woman who had a foreign accent- Lebanese perhaps as I am lebanese and she was quite aggressive and rude. She indicated company had a A+ rating but when I probed more got defensive and ruder by the minute as I noted that I did not want to give out my Social Security. I asked that they email and mail me more info on the company but instead she got more aggressiveness made me realize this company must be fishy as most will be happy to have you review their company information before signing on.
    Read More
  15. User Score
    0
    February 19th, 2018 Kenosha, WI
    9 people found this review helpful!
    I called the number and spoke to a lady on the phone but told her I wanted to research the business on Google further before giving out my social security number. The woman started getting nasty with me and raised her voice saying, “We’re on BBB! And we advertise on television, we’re the real deal. I’m not understanding why you need to research!?!?” Well, I told her that her attitude is definitely making me not want to talk to her and she gave me an attitude, “Well best of luck on your search,” and hung up. After doing more research, I find out they’re a scam. Don’t go with them.
    Read More
  16. User Score
    10
    February 16th, 2018 New York, NY
    7 people found this review helpful!
    They were unbelievably helpful. They got me out of a terrible situation and were very responsive to my calls and questions. Cannot recommend highly enough. Leslie was especially great at getting back to me. My family thanks everyone there but especially Leslie!
    Read More
  17. User Score
    1
    December 1st, 2016
    39 people found this review helpful!
    The simple truth is that Netdebt proved to lie about the many promises they told me. Then of course when you call them out on their inconsistences, they give you the usuall run-around of who did you talk to, they don’t work here anymore or coincidentally, their computer screen doesn’t show the facts or promises that they once told you. I was promised that Netdebt would communicate with my creditors and that their team of expert negotiators (haha) would reach the best settlement and save me the most money. No such negotiators exist. Nebtdebt simply accepts the first offer they receive and collects your money to pay it back. Regardless, I needed their help and was aware from the beginning that accepting a lower settlement would hurt my credit score. But here is where Netdebt lies. They told me that 36 structured payments would settle the debt with my 4 creditors. At the the end of 3 years, my accounts would be closed and paid. At first everything seemed to going ok. Netdebt would contact me with an offer from a creditor (funny, I was told it was their expert negotiators who were establishing these offers) and go through the process of me accepting the offer and eliminating 1 more of the 4 creditors at a time. I would hear from Netdebt about 2 times per year (which seemed normal to me) with offers and updates on my account. Once the business end of every phone call was complete, I would ask the representative 2 side questions, the same questions, every time. I would ask them if my account was on pace to have my creditors paid off in the 36 month program I was enrolled in…to which they always told me “yes.” Then I would finish by asking/telling them that I don’t want any surprises. I don’t want to be contacted near the end of my term and be told by Netdebt that the initial calculations were wrong and that I needed to put more money into my account to make payoff possible. They assured me this would not happen because my contract explicitly explains that Netdebt will satisfy all my creditors as long as I continued to make my payments. Which I did, never missed one, 31 months in a row of my obligated 36 month contract.
    Well you can guess the phone call I got today, 5 months before my contract end. My last creditors offer (now wait, I thought Netdebt had a team of expert negotiators) didn’t come in as low as they had hoped and that to make ends meet and fulfill the terms of the contract I, not Netdebt, would have to contribute $2,000+ more dollars to make ends meet. As you can imagine, I was furious with the representative. He explained that at the end of 36 months, I was free to end my contract with Netdebt and get refunded the money that was in my account at the time, however, I would still be $2,000+ short in funds, the debt payoff to my last creditor would not be satisfied and that creditor would then be able to contact me repeatedly as before, put leins against my house and continue to kill my credit. EXCUSE ME NETDEBT, BUT ISN’T THIS EXACTLY WHAT I WAS PAYING YOU TO STOP FROM HAPPENING ? ISN’T THIS THE EXACT SERVICE I WAS PAYING YOU TO PROVIDE OVER THE COURSE OF THOSE 36 MONTHS ? Instead the representative went on to explain that I could gladly continue to pay his company an extended 7 months so that there would be enough money in my account to satisfy my last creditor. These explanations resembled absolutely 0% of the promises or conversations I had with Netdebt in the previous 31 months. Only at the end did Netdebt reveal their fraudulent practices and let me the customer holding the bag. All the while the representaive Hector, continued to repeat a scripted, non pertaining answer to my questions. Lies, lies, lies.

    Did I agree to pay 36 monthly payments to have Netdebt eliminate and satisfy my creditors….yes I did.
    Did I ever miss a payment….no I did not.
    Did I uphold my end of the contract….yes I did.
    Did Netdebt pay off all of my creditors in 36 months like they said their program would do for me….no they did not.
    Did Netdebt uphold their end of the contract….no they did not.
    Does Netdebt care….no they do not
    Who gets stuck holding the bag with nothing but lies…..me and you the customer.

    STAY AWAY FROM NETDEBT. STAY AWAY FROM NETDEBT. STAY AWAY FROM NETDEBT.

    Read More
  18. User Score
    0
    December 1st, 2016 New York, NY
    23 people found this review helpful!
    This Company is downright AWFUL! Stay away!
    I signed up a week ago without during the research, which is my fault. When I tried to cancel, they told me they would, and they DID NOT! Every time I called, I was directed to an overflow call center, where they said someone would call me back in 24 hours and it NEVER happened! I’ve been trying to cancel my program for a whole week, and I have yet to speak with someone. The service is terrible they charge you high fees, ruin your credit. Please do not bother with this company you will be better off seeking a debt management company of filing for bankruptcy.
    Read More
  19. User Score
    0
    December 1st, 2016
    25 people found this review helpful!
    Yup it’s was too late for me too. I actually signed up for net debt then after two months I noticed something awkward about the company. I checked with the BBB Bureau an saw they have bad rating and ordered cease an decrease their company
    Read More
  20. User Score
    1
    November 10th, 2016 Chatsworth, CA
    16 people found this review helpful!
    In total, those at netdebt are spineless when going against banks and their credit cards.
    If you have any problems with a bank, do not be lulled into their advertising that they can get your debt down because they can’t. We ended up only paying off $1000 off the ending amount after the psychotic interest from the creditor. These people are not debt consolidators, they will destroy your credit and almost force you into wage garnishment with their inability to show any kind of backbone against creditors. By the end of everything, you will pay more than the original debt, I assure you. Go with someone else.
    To think that I was going to be making payments for 3 years. 3 YEARS OF CONTINUAL INCREASING DEBT JUST SO THESE BASTARD CHILDREN COULD DRAG THEIR FEET AND MOST DEFINITELY WOULD LOSE THE CASE!!! Our original debt was only $9200… WE HAD TO PAY $10,000 GET THIS CRAP SETTLED!!! This would have gone to court and the spineless bastards defending me wouldn’t have done anything. HOW MUCH MORE WOULD IT HAVE BEEN AFTER 3 YEARS?!?!?!

    Do not fall for their lies.

    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
4.0
User Score
1.6
Rank this Company

Ratings Breakdown

Price - % of Debt

25%

Accreditations

AFCC

Free Consultation

Yes

Min. Debt Accepted

$5,000

Money-Back Guarantee

Yes

Number of Reviews

28
Our Score
9.1
User Score
9.1
Rank this Company

Ratings Breakdown

Price - % of Debt

15-25%

Accreditations

AFCC & IAPDA

Free Consultation

Yes

Min. Debt Accepted

$7,500

Money-Back Guarantee

Yes

Number of Reviews

1,185