Accredited Debt Relief Review 2024 (2024)

• Accredited Debt Relief Overview
• What Types of Debt Does Accredited Debt Relief Consolidate?
• How Does Accredited Debt Relief Work?
• What Fees Does Accredited Debt Relief Charge?
• Will Using Accredited Debt Relief Affect My Credit?
• Accredited Debt Relief Customer Reviews
• How To Sign Up for Accredited Debt Relief
• Alternatives to Accredited Debt Relief
• Who Is Accredited Debt Relief Best For?
• Methodology
• Frequently Asked Questions (FAQs)

Accredited Debt Relief helps people get out of debt by consolidating payments and negotiating creditor settlements. The process starts with a free consultation to review your finances and discuss your debt settlement and consolidation options.

Founded in 2011, Accredited Debt Relief offers consolidation loans through its affiliates. Sums range from $1,000 to $100,000, with annual percentage rates (APRs) from 4.9% to 35.99%. Origination fees are 1% to 6%, and loan terms range from 4 to 84 months.

However, only highly creditworthy borrowers receive the lowest APRs, which is something to consider if you’re trying to save money by lowering the interest rate on your current debt.

Accredited Debt Relief only helps consolidate unsecured debts—debts that don’t have collateral attached to them. These include:

• Credit cards
• Medical bills
• Personal loans
• Payday loans
• Private student loans

If you have a form of unsecured debt that isn’t mentioned above, you can chat with a debt relief specialist during your free consultation to see if it qualifies for a debt consolidation loan or other type of debt relief. Accredited Debt Relief’s website states that it does not consolidate secured debts, including federal student loans, mortgages and auto loans.

Expect to go through these steps if you enroll in Accredited Debt Relief’s program:

1. Sign up for a free consultation on Accredited Debt Relief’s website.

2. Meet with a certified debt specialist to review your financial situation and create a customized plan based on your goals, monthly budget and eligible debts. Your plan could include consolidating debts, securing lower interest rates or reducing the principal amount you owe.

3. Open an FDIC-insured savings account and make monthly deposits based on your customized plan.

4. Wait as your assigned debt specialist works with your creditors to adjust your loan terms.

5. If the specialist successfully reaches an agreement, they’ll contact you for approval and use the money in your dedicated account to pay off the loan.

6. The specialist repeats this process until all your debts are either resolved or deemed ineligible for resolution.

The entire debt relief process can take anywhere from one to four years to complete, and it may take six to nine months to see your first debt consolidation. So don’t expect quick results.

Accredited Debt Relief charges a fee only if they successfully reduce your monthly payments. This fee ranges from 15% to 25% of your consolidated debt.

For example, if you enroll $20,000 of debt, a 25% fee would be $5,000. Accredited would have to reduce your debt by at least that much to make this process worthwhile for you.

Fees are deducted from your account after you agree with a creditor on a new resolution and make a payment. If Accredited can’t reduce a monthly payment, the specialist removes that debt from your account and adjusts your fees.

Your credit score will likely go down when you start using any debt relief company, including Accredited Debt Relief. That’s because these companies typically advise you to stop making payments on your enrolled debts while they’re being negotiated. This can temporarily tank your credit score, send some of your debts into collections and, in extreme cases, result in lawsuits.

But over time, if Accredited Debt Relief is successful in reducing the total amount of debt you owe, your credit score should tick back up as you pay off debts and make on-time payments.

You may be eligible for Accredited Debt Relief’s services if you have at least $10,000 in unsecured debt. To start the process, call 800-497-1965 or follow these steps to fill out the form online:

1. Visit Accredited Debt Relief’s website.

2. Click the button to “Get Started.”

3. Enter the current amount of debt you owe.

4. Provide your name, phone number, email address and state of residency, then click to get your quote.

5. Wait for a debt relief specialist to contact you.

Once you complete your call, you can decide if you want to move forward based on your specialist’s recommendations.

Note that Accredited Debt Relief services residents of 30 states and Washington, D.C. Check its website for an updated list on which state residents can enroll.

How To Contact Accredited Debt Relief

There are two ways to contact Accredited Debt Relief customer support if you run into issues.

• Email customerservice@acrelief.com.
• Call 877-201-2548 on weekdays from 5 a.m. to 9 p.m. PT and on weekends from 5 a.m. to 4 p.m. PT.

Freedom Debt Relief vs. Accredited Debt Relief

Freedom Debt Relief and Accredited Debt Relief both negotiate with creditors to settle debts for less than owed. In both cases, clients pay fees only upon a successful settlement.

Accredited Debt Relief can help reduce monthly payments by up to 40%, but charges up to 25% of enrolled debt and is unavailable in many states.

Freedom Debt Relief charges roughly the same in fees: between 15% and 25%. In addition, clients pay a $9.95 setup and monthly maintenance fee.

National Debt vs. Accredited Debt Relief

Both National Debt Relief and Accredited Debt Relief have stellar ratings on BBB and TrustPilot, with 4.7 and 4.9 stars on TrustPilot, respectively.

National Debt Relief charges 15% to 25% of enrolled debt. Its fees are added to monthly payments that clients make to a secured savings account.

Accredited Debt Relief says it reduces payments by up to 40%. However, it charges up to 25% of enrolled debt and isn’t available in all states.

Accredited Debt Relief is best for anyone who has at least $10,000 in unsecured debt—think credit cards, medical bills and payday loans—and wants to reduce the total amount they owe. But fees can be up to 25% of the total enrolled amount, and the company’s services are unavailable in 20 states.

If you’re on the fence about Accredited Debt Relief, see how it compares to the best debt relief companies before you make a decision.

Helping You Make Smart Financial Decisions

Get the Forbes Advisor newsletter for helpful tips, news, product reviews and offers from a name you can trust.

Thanks & Welcome to the Forbes Advisor Community!

I agree to receive the Forbes Advisor newsletter via e-mail. Please see our Privacy Policy&nbspfor more information and details on how to opt out.