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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
4.6
User Score
2.2

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Our Score
4.6
User Score
2.2
Rank this Company

Ratings Breakdown

Price

% of total debt
25%

Accreditations

AFCC or IAPDA
None

Free Consultation

is one included?
Yes

Time in Business

total # of years
8 Years

Min. Debt

Min. debt accepted
$2,000

Guarantee

money back guarantee?
Yes

Number of Reviews

User reviews here on BDC
13

This Review is maintained by

Review Last Updated: December 21, 2016

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.

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

#1

15-25%
$7,500

#2

15-25%
$7,500

#3

15-25%
$7,500

#19
NetDebt

25%
$2,000

The Good

Transparent Pricing

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.

The Bad

NetDebt Complaints

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.

High Prices

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%.

No Accreditations

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.

NetDebt Reviews | Missing Industry Accreditations

  • Limited industry experience
  • Not available in Utah
  • No industry accreditations

Compare to Top Debt Settlement Companies

The Bottom Line

Although NetDebt could make a good fit for customers looking for a high level of support on Saturdays, there is little compelling reason to choose them outside of that. Between the legal problems, high costs, and reported communication issues, we do not recommend them for most customers at this time. For a less expensive debt settlement option, we recommend learning more about Pacific Debt.

Click Here for other Top Recommended Debt Settlement Providers.

Contact Information

Website: netdebt.com
Email: [email protected]
Phone: (800) 979-6812
Hours:
Customer Service:
M – F: 8am to 8pm CST
Consultations:
M – F: 8am to 8pm CST
Sat: 9am to 1pm CST
Address:
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.

About NetDebt

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.

Debt Education

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.

Mobile-Friendly Site

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.

Services Provided

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.

Online Dashboard

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.

Accreditations

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

Additional Info

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.

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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13 NetDebt Reviews

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  1. User Score
    1
    January 12th, 2017
    0 people found this review helpful!
    Slow as a turtle!!! Not helpful!!! Big liars!!!
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  2. User Score
    1
    December 1st, 2016
    3 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.

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  3. User Score
    0
    December 1st, 2016 New York, NY
    2 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
  4. User Score
    0
    December 1st, 2016
    1 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
  5. User Score
    1
    November 10th, 2016 Chatsworth, CA
    4 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
  6. User Score
    0
    October 14th, 2016
    3 people found this review helpful!
    Extremely misrepresent what service they provide. Be aware that they charge 20% of what you owe, not what they save you. Most if not all of the time the credit card company will give you 20% reduction and that’s it, so you save nothing. Their service is terrible. I only spoke to my manager 3 times and about 10 times to support staff that has no clue what is going on. I believe their only interest is getting your money. They prey on people who are having difficult times in order to line their pockets with your money. Do not go here, go to a non-profit.
    Read More
  7. User Score
    3
    August 24th, 2016 Brooklyn, NY
    3 people found this review helpful!
    I regret not doing more research for companies that deal in this issue because being forced to join United Member a cost of $395.00 was hardship upon the hardship I was already experiencing. We go to them for help to pay off debt and right off the bat they hit with this high charge for something you don’t even want, seems cruel and unfair. This on top of their 25% sounds unreasonable to me. However, for me it is late. I only hope this helps other to look WELL before you leap. Thank you
    Read More
  8. User Score
    0
    February 1st, 2016 Tampa, FL
    11 people found this review helpful!
    This company SUCKS!! I don’t say this just because I WAS BURNED BADLY by this company….. which I WAS! I say this b/c if I had done due diligence b/f I signed up with them and had looked at the Better Business Bureau complaints and ratings, I would have steered clear of them! In reality, I have nothing to gain by writing this negative report. I am quite busy with my graduate course work, regular case load at work, single motherhood (of a teenager non-the-less) to warrant wasting my time writing this report. If I’m doing this is to SAVE YOU from making the same mistake that I learn. We have a saying in Spanish ” Nadie aprende en cabeza ajena!” (No one learns from another one’s head.) However, if you are smart, you will learn from my head….. the easy way. You may also learn the hard way…. on your own head. Which ever you decide, but realize that this people:
    1) Collected my money for a whole year almost (Feb 2015- Jan 2016) and manage to settle only ONE of my accounts at 52 cents/dollar for 8 months (that meant that $400 + of my $517 per month were going toward paying off that account, which left very little room for other settlements. (My new company: Pacific Debt settled that same account, after I cancelled my contract with Net Debt, for 18 months at 45 cents per dollar, which means that only $190 of my $517 will go toward paying that debt over 18 months (which is what that particular credit card company usually settles for – NOT 8 MONTHS.

    While that bargaining power should be enough to steer you away from NET DEBT, toward whatever other company you find at the BETTER BUSINESS BUREAU, let me tell you about one more reason, before I stop writing (since I have too many other things to do besides writing this negative review which will help only you and people like you, since I was already screwed over by this company,) :

    NET DEBT failed to DO ANYTHING AT ALL to negotiate my Discover Card account, despite the fact that I was prompt to forward them letters from a lawyers firm warning me that they would move forward with a lawsuit if I didn’t respond AND despite the fact that it is COMMON KNOWLEDGE within this industry that DISCOVER CARD, AMERICAN EXPRESS & MUTUAL OF OMAHA are the 3 companies MUCH MORE LIKELY TO SUE their clients. This means that any other debt consolidation company would have reached out to Discover Card FIRST, to avoid the possibility of a lawsuit— which is of course what happened….. I was SUED by DISCOVER CARD THANKS TO NET DEBT’S NEGLIGENCE, LACK OF INTEREST, OR WHATEVER REASON they had for allowing this to happen. (My new company settled Discover and the only other credit card they had settled after one year within a day of me transferring my program to them and they still hadn’t received my money!)

    A couple of more things, the $10 per month that they claim they DO NOT CHARGE for themselves, but rather for the company holding the money – Crossroads- is NOT for Crossroads. It is for them, b/c my new company, which also uses Crossroads, DOES NOT CHARGE those $10 / month and I have since found out that This charge IS A RED FLAG!!
    It makes sense that they did not move on my behalf for a whole year, b/c while my $120 / year may not seem like a lot, when you multiply that by God knows how many clients they have, it all adds up to a substantial amount. Thus, it is to their advantage to keep stringing us along.

    Lastly, besides the fact that my credit score plummeted from the 750+ to the low 500’s (at last check b/c I really don’t want to know how bad they let it drop down to) and the fact that I have been sued by Discover card, from lack of representation on both instances. when I cancelled my program with them they said it would take 7-14 days to get my money back via mailed check (despite the fact that industry standards are 24-48 hrs. via electronic delivery.) So, of course I was expecting them to return my money no sooner than the last possible day, …. because of course “7-14 days” sounds professional….but it’s NOT something they really care about. So, the last possible second sounded like the most probable likelihood to me…. (I have a nose for the “why do today what I can do tomorrow, or the day after that… or better yet… a few seconds before it’s due kind of people or businesses,) and sure enough… I received the check via mail not at day 14, but at day 16…. and ONLY BECAUSE I called at day 12 to enquire about something… which made them realize that the 14 days were almost up (I could tell b/c of the tone of voice and b/c of what the operator said to me and how he said it to me.)

    In conclusion, if you want to save yourself headaches, and want to save as much of your credit as possible, and whant to secure your future as much as possible : STAY AWAY FROM NET DEBT
    GO TO Better Business Bureau’s website BEFORE you choose a company. I wish I had known this a long time a go…..

    Read More
  9. User Score
    10
    October 10th, 2015 Mckinney, TX
    5 people found this review helpful!
    Pretty easy process. Cleared up debt in 18 months. Downfall credit was affected a little but it worked.
    Read More
  10. User Score
    3
    October 5th, 2015 Westland, MI
    6 people found this review helpful!
    With such high fees i could have paid off my own credit cards
    Read More
  11. User Score
    7
    August 30th, 2015
    6 people found this review helpful!
    I just signed up yesterday August 28th 2015 They seem to know these companies that you have debt with and promise to negotiate a settlement around 60 percent of your debt they seem to be knowledgeable and put you in a plan that fits your budget and they are upfront with you about your credit score going down during the payment process their cost is 22% of the settlement they also gave me to other creditors that I’m behind on with a phone number to call to pay those debts off in full I have not found too many negatives during the initial contract process except there benefit package for travel is with a national company that has a lot of bad reviews and they make you sign up with that company or charge you another 3%
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  12. User Score
    0
    July 2nd, 2015 Brooklyn, NY
    18 people found this review helpful!
    Credit has tanked and there is no end in site. 3-6 months has no become 9-12 months. Customer service offered no assistance. Wish there were reviews when I signed on in March 2015. All I get is phone calls and emails from my creditors. Can’t sell my home and move and can’t get a loan to repair my home. I had awesome credit in February 2015.
    Read More
  13. User Score
    2
    June 24th, 2015 Fremont, CA
    20 people found this review helpful!
    These guys cost me my credit score! They barley helped me in fact I feel things got worse working with them. I took their advice and they failed to give me key information. I’m worse off now than before. My credit score tanked and I have a judgement against me. The lady on my case failed to give me an exact date to file paper work and I missed my window losing an opportunity to settle.
    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
4.6
User Score
2.2
Rank this Company

Ratings Breakdown

Price

% of total debt
25%

Accreditations

AFCC or IAPDA
None

Free Consultation

is one included?
Yes

Time in Business

total # of years
8 Years

Min. Debt

Min. debt accepted
$2,000

Guarantee

money back guarantee?
Yes

Number of Reviews

User reviews here on BDC
13
Our Score
9.5
User Score
9.6
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
$7,500

Guarantee

money back guarantee?
Yes

Number of Reviews

User reviews here on BDC
284