Debtmerica Review

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Debtmerica

rating: 5
  • Immaculate customer support
  • Lower minimum debt required than some rival companies
  • Zero upfront fees

Debtmerica Debt Consolidation

BEST DEBT CONSOLIDATION

Debtmerica has a decade of operating experience in the debt settlement sphere and shows incredible statistics for their efforts.

By Aleksandar Spasov | 18th December 2018

Started in 2006, Debtmerica has been dedicated to transforming the customer base from indebted to debt free, in many cases managing to settle up to 50% of their starting volume. They tackle debt aggressively, helping you to overcome any obstacle and move on with your life. Accredited by most of the renowned industry review boards, this is the best among a plethora of debt consolidation companies for customers who prefer settling their tasks by phone rather than spending time on the Internet. While the website is a bit basic on the first view, the customer support efforts are entirely enough to resolve your debts according to your needs.

This company also offers a large amount of educational content which can help you avoid debt altogether and clear it once you’re actually indebted. The company strives for financial independence for all of their customers and potential customers, meaning you will be presented all the necessary information to get out of debt before you actually sign up with the company. One of the services that Debtmerica offers is a free credit score check with one of their partners.

ProsCons
Multiple languages availableAvailable in only 30 states
Transparent fee informationTheir website is somewhat basic
Higher than the average debt relief rate
Excellent online community reputation
Eligibility Criteria
  • $7,500 of accumulated debt
How Much Does it Cost?

Settlement fees with Debtmerica vary through states in the United States but maintain the 18%-25% frame. These percentages are entitled to your total debt to consider. The good thing about respectable debt relief companies is that all fees are included in the ordinary monthly payments – this ensures that customers don’t miss out on any payments which would result in an increased amount to cover later on.

Additionally, all processed payments can be returned to the customer if they desire to – only in cases without a successful negotiation in place, of course. Once you get the first settlement (if there’s more than one), this option becomes void which protects you against insensible spending and further complications.

On the bright side, a debt reduction of up to 50% is more than splendid when it comes to clearing your debt records. A savings percentage of up to 29% is in action after all fees are conducted. Even if it seems like you are paying more than getting back, the aftermath will prove quite the opposite. Just to get an idea, you can save up to $5,000 on a $17,100 overall debt after the interference of Debtmerica. Who can fail with a debt management plan like that?

For Example

“A $10,000 total debt at an 18% APR for 36 months can cost you an additional $7,091.40 without a reached settlement. This leaves room for $4,272.85 in maximum possible fees to Debtmerica at the end of your settlement program.”

What Happens After Signing Up?

Getting started with Debtmerica is surely among the easiest processes in the debt relief field. First and foremost, customers need to process payments to the company which will prompt the creation of a separate bank account. A portion of those is directed to Debtmerica fees while the remaining value is redirected to the dedicated trust account. This account serves as the safe house for settling any debts when the time comes, but the money in it is still yours and you can retrieve it at any time – just contact Debtmerica and let them know you’ll be withdrawing so they can adjust to the change.

Debtmerica’s professional debt settlement lawyers are quite confident in negotiating debt settlements and credit consolidation which can clearly be seen from their record. They will contact all of your creditors and start discussing all eventual options ahead of the situation. This process can take up to a few months as most creditors try to rule out settlement offers until they realize it is inevitable if they want to receive at least a part of the owed money back. Debtmerica strives to avoid bankruptcy and Consumer Credit Counseling by enrolling you into their program, but they also want to minimize any creditor harassment, meaning they take over all your enrolled debt and you only deal with them from that point onwards.

After this process, Debtmerica is responsible for transferring the funds from your trust account to the creditors. They will ask for permission and proceed with the transactions. After completion, the debt relief service provider receives their fees and finalizes your program.

Trust and Reputation

Debtmerica isn’t among the wildly discussed debt settlement companies on the Internet. It doesn’t come with a BBB accreditation although it has an A+ BBB rating which may be confusing to some customers. Trustpilot customer reviews place the brand at the 9.2/10 rating point which is quite satisfactory for recommendations. However, they’ve also received multiple awards from a number of sources, such as becoming the #3 fastest growing private company, which certainly shows some vigor on the company’s side.

As expected, IAPDA, AFCC, and ASC are all present in the reviewers’ category here. They all work together in order to guarantee eligible employees and fair customer terms at Debtmerica. In addition, feedback from hundreds of customers points to Debtmerica’s amazing customer service skills. This makes Debtmerica one of the best debt settlement companies in comparison with competitors. This has been shown in their public appearances on highly-regarded national media such as CNN, MSNBC, Fox and CBS. Finally, Debtmerica will never sell or share your information with third parties, meaning you’re always 100% protected and you can focus on your debt relief efforts instead of being concerned about your info like with certain other companies.

Customer Education

One of the best things about working with Debtmerica is their educative attitude towards their customers. When you go on their website, you will see this attitude in action! On their main page they present a number of different articles that can help you with managing your funds to avoid any further indebting and to make better use of your current financial status.

These articles present information about debt consolidation, settlement and relief, as well as credit card debt, credit counseling, getting out of debt and avoiding debt altogether! Along with information about credit problems and their management as well as credit card debt reduction, Debtmerica has presented a comprehensive yet exhaustive package of every bit of information you may need in regard to your debt relief, no matter what form it comes in.

Also, this company goes even further – they present a number of debt resolution alternatives through several educational videos that explain the situation as professionally as possible. Debtmerica is a company that believes they’re a better alternative to the 6-year Consumer Credit Counseling program and this is also explained in the videos.

Customer Support

The customer service at Debtmerica is entirely conducted through telephone contact. They aren’t big fans of the online support options, as we can clearly see. But this shouldn’t be a bad thing because their telephone support team is packed with solutions to any debt settlement issue we might stumble upon. Having the needed preparation and knowledge, the support crew is able to aid us even with the hardest to solve problems. No debt settlement letters with Debtmerica!

Also, the customer can expect the best treatment from Debtmerica employees, as their company goal is to have no repeat customers. If your debt is manageable, they will certainly try to manage it and provide much needed debt relief, finally allowing you to move on with your life.

Reviewed by
Aleksandar Spasov
Aleksander is a freelancer from Bulgaria. He's travelled and is still travelling around the the world and has been writing and studying as he goes. He describes himself as a bit of a word freak and this is clear from his studies in English and Journalism.Although he is knowledgeable in a lot of areas, he has been researching and writing about anti-virus as his most recent interest. Read more.
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