National Debt Relief review: Is debt settlement worth it?

ملخص مفصل

National Debt Relief settles eligible unsecured debt for a fee. See how NDR works, what it costs, its pros and cons and whether it may be right for you.

Being buried under high-interest debt can be financially and emotionally draining. But if you're struggling with high-interest unsecured debt and don't qualify for a low-interest consolidation loan, debt settlement may be an option.

National Debt Relief (NDR) is a debt settlement company that negotiates with creditors to reduce unsecured debts such as credit cards, personal loans and medical bills. NDR says clients who complete its program save about 20% after fees over 24 to 48 months.

This National Debt Relief review covers its services, fees, process and track record to help you decide whether it's right for you.

45 states, Washington, D.C., and U.S. territories (Does not serve Oregon, Wisconsin, West Virginia, Vermont and Connecticut)

Better Business Bureau (BBB), Association for Consumer Debt Relief (ACDR), International Association of Professional Debt Arbitrators (IAPDA)

NDR may also refer customers to its third-party lending partner, Reach Financial, for debt consolidation loans. Unlike debt settlement, consolidation involves taking out a new loan to pay off existing debts. If you pursue this option, you'll work directly with the lender and be subject to its credit requirements, interest rates, fees and repayment terms.

National Debt Relief charges 15% to 25% of your enrolled debt, depending on your state and how much you owe. Enrolled debt is the total amount you hire NDR to negotiate, not the amount you ultimately pay to settle it.

NDR doesn't charge upfront fees. Instead, the company collects a fee for each debt only after three conditions are met:

Let's say you enroll $30,000 in debt, and NDR successfully negotiates settlements totaling $20,000. At a 25% fee, you'd pay NDR $7,500, leaving you with $2,500 in savings before taxes and other potential costs.

مطلع المقال، مقتطف من Yahoo Finance. لقراءة المقال كاملًا، افتحه على موقع الناشر.