NetDebt LLC specializes in Debt Settlement and has resolved over $6 million since opening doors in 2007. While NetDebt charges no up-front costs and offers flexible customer service hours, they are plagued by legal issues in some states. They were formerly known as Debt Mediation Initiative and Debt Relief Advocates. You can read consumer Net Debt reviews below our expert review.
We appreciate the company’s transparency in disclosing that they charge 25% of total debt on NetDebt.com since many competitors are unclear on the specifics of their total costs. However, we must point out that a 25% fee is slightly above industry averages.
Customer Service Available on Saturdays
It’s worth noting that NetDebt offers consultations and customer service on Saturdays, outside of normal business hours; a convenient feature for those with busy work weeks. NetDebt also has live chat on their site.
Money Back Guarantee
If you decide to cancel before any of your debts have been settled, you can walk away from NetDebt without paying anything. The company also guarantees that their settlement program will save you you money in fees, or they will pay the difference. This is a big guarantee coming from a debt settlement company.
Positive NetDebt Reviews
Customers have expressed satisfaction with the level of expertise and knowledge shown by their consultants and the simplicity of the process. Additionally, even though it’s fairly common for reputable companies, NetDebt clients are often pleasantly surprised to find that there’s no up-front fee charged to enroll in their services and appreciate the tools, resources, and calculators available to them on NetDebt’s website.
Customers have primarily expressed concerns with NetDebt’s high costs relative to the competition and difficulty or delays in canceling the company’s services. Additionally, there are complaints of poor communication and hidden agendas, such as the mandatory enrollment in United Member Plans for $395 per year, with additional fees charged if they opt out.
Even though we think it’s great that NetDebt displays average pricing, it is higher than others in the industry. NetDebt charges 25% of the total debt you enroll – many other companies charge closer to 20%.
Most companies in the debt settlement industry have accreditations with all or a portion of the IAPDA and the AFCC. However, we were unable to find any accreditations with NetDebt.
- Limited industry experience
- Not available in Utah
- No industry accreditations
Email: [email protected]
Phone: (800) 979-6812
M – F: 8am to 8pm CST
M – F: 8am to 8pm CST
Sat: 9am to 1pm CST
6400 Pinecrest Drive, Suite 400
Plano, TX 75024
How Much Does NetDebt cost?
We were not able to get a specific price from the company. They do charge service fees which are located in their service agreement. Netdebt does not receive payment or fees until they have successfully settled a client’s debt. They also guarantee that their discounted debt settlements will save customers at least the amount of their fees, or they will pay the difference.
Are There Any Up-Front Fees?
NetDebt does not charge any upfront fees for the experience and services.
Can I Get A Free Consultation?
NetDebt offers a free consultation for anyone who is interested in their services and what they can expect as far as monthly payments and the time it will take to pay their debts off entirely.
Does NetDebt Offer A Money-Back Guarantee?
They will work hard with each client to ensure that they have a payment plan set up that works for their individual situation and follow up with them regularly to make sure they’re on track, but ultimately it’s up to the client to keep on paying their monthly payments that have been set up or let their NetDebt representative know if problems in doing so arise.
Any money you’ve accumulated in your savings account is yours to keep if you do not finish the program.
What Types of Debt Does NetDebt Work With?
They work primarily with unsecured loans though they 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 that they’ve been trying to pay off for years.
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 settling debts such as credit card debt, hospital/medical bills, department store card debt, and unsecured personal loans.
Time in Business
8 years. NetDebt has been in business since 2007.
If you’re looking for additional assistance through actual debt education, this might not be the best company for you. They’ll gladly assist you with resolving your debt issue through consolidation or debt negotiation, but they don’t really offer much in the way of educating their customers on how to avoid more debt in the future, manage current debts or what kinds of choices lead to overwhelming debt in the first place. They can, however, point you in the right direction on where you might seek some debt education assistance elsewhere.
They do provide a mobile friendly website which is helpful for those who either only have a smart phone to access the site or for those who need to access the site at any given time.
NetDebt offers both debt negotiation as well as debt consolidation services.
Minimum Debt Accepted
Each account has to be at least $500 past due for them to assist you with them.
Yes. They have online access through their website. This is where you can access information about your account with them, as well as handled communication preferences like texting and other features. They also have a debt app for those with smartphones.
No, they do not have an accreditation with the AFCC or IAPDA.
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 on behalf of the customer to help make the overall debt more digestible. 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.
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