Pacific Debt Review

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Pacific Debt

rating: 5
  • Helpful blog articles on debt management
  • Various customer support possibilities
  • Triple accreditation

Pacific Debt Debt Consolidation

BEST DEBT CONSOLIDATION

Pacific Debt is arguably one of the founders of modern debt relief services in our time.

By Aleksandar Spasov | 18th December 2018

Pacific Debt was part of the pioneer pack at the dawn of debt consolidation companies. With a launching date back in 2002, the company grants customers an array of debt solutions with adequate requirements and standard industry fees. They are dedicated to serving as many citizens in need as they can and they prefer to end their service by leaving their customers debt free. The brand operates in the usual way – they negotiate with credit associates to lower your debt value in order to save you funds in the long run. All customer reviews here are showing a lot of potential in the establishment and industry accreditation institutions back them up with solid reviews and visible results.

ProsCons
High savings percentagesNon-client customer support can be less efficient
Lower fees than usualNot available in some states
Account managers for each customer
Free for use debt relief resources
Eligibility Criteria
  • $10,000 in debt minimum
How Much Does it Cost?

As one of the major players back in the day, Pacific Debt tries to keep up with the new players in town and they are doing pretty well. However, competition benefits one side of the equation the most. Customers get to take advantage of as low as 15% enrollment fees on their debt settlement contracts. The upper limit is 25% due to FCA limitations but it still makes a pretty reasonable cost compared to most other companies.

The Pacific Debt team’s debt management plan requires no upfront payments. All charges from your account are installed in monthly payments building both the settlement escrow and the fee exchanges with the company. Such a structure enables customers to slowly rebuild their finances and actually be relieved of their debts. This means that the money in the account is still yours at all times and you can remove it, but you have to tell the company so that they can make the necessary arrangements to cover the unexpected removal and plan a way to make up the difference.

As for savings, Pacific Debt lets you save up anything in the 20%-50% frame, with some amazing instances of over 69% in the past. As crazy as it may sound, they have managed to do it through immaculate negotiation skills and determination, making them some of the debt settlement lawyers right now.

For Example

“A $15,000 debt with an APR at 14% will add up to $22,773 at the end of the debt settlement.”

What Happens After Signing Up?

Signing up at Pacific Debt comes as the general action to take when you’ve found yourself in any financial turmoil. The company’s welcome message is delivered by a personal client manager who will explain how everything works in the upcoming process.

Secondly, the initial welcoming will be continued by regular calls to check up on you. Even if you are doing great with your escrow balance, an employee will still contact you in order to track your progress further. They will also provide information on building and maintaining the trust account responsible for settling your debts in the future. Every monthly payment goes straight to it and will be used once the sum reaches a respectable amount.

One of the biggest benefits of opening a debt settlement account is the freedom of not having to pay to multiple creditors every month. With an escrow account in place, customers can forget about the many lines and possible inconveniences connected with several service vendors looking over their shoulder. All payments from now on go directly to your Pacific Debt account and stay there until needed.

A personal account helper will be available to you at all times. This happens after some months of dedicated payments and aids you in maintaining a good escrow balance. Once Pacific Debt manages to reach a satisfactory savings percentage on your debts, they will be eligible to withdraw the funds (with your permission) and pay out the creditors in question.

The company recommends several different methods of paying off your debt which will be discussed with you by their personal client manager. Some of these include the avalanche method, where you pay off the largest debt first and then work your way down to the smaller ones, as well as the snowball method where you pay off the smallest ones first. The interest and fees may work for either method, you just have to check what they are. Of course, you can use a number of other debt relief methods which your representative will be happy to present.

Resources and education

When you visit Pacific Debt’s website, you will see the sheer quantities of information available to the public and to their customers. They have hundreds upon hundreds of articles dedicated to explaining everything about debt and all kinds of ways to get rid of it or to prevent it. Also, they offer an archive of testimonials and people’s experiences, so you may even know what to expect when you sign up as many of the companies that are usually owed money are the same few companies! To top it off, Pacific Debt has a rolling list of their best and latest settlements on the top of their website, which constantly show how their services are saving people thousands of dollars.

Also, Pacific Debt offers a debt calculator to help you gauge exactly how much debt you have. After using it and seeing how much you can save by settling your unsecured debt, you may be convinced to join the debt settlement program yourself because the numbers are amazing.

Discover the 6 tips debt consolidation tips from the experts if you want to know more.

Trust and Reputation

One would imagine that one of the pioneers in the industry will be highly respected across all communication platforms. Pacific Debt is exactly the case as they have a sweet A+ BBB rating, along with a 9.2 Trustpilot score. All staff members there are caring, friendly, and pack enough debt settlement knowledge to tutor us in the matter. As such, Pacific Debt has grown to be not only one of the best debt settlement companies in the country, but also an industry leader.

The American Fair Credit Council (AFCC), Consumer Affairs (CA), and the Better Business Bureau (BBB) are all responsible for the proper flow of services at the company. They have put a lot of efforts in reviewing Pacific Debt since their start and continue cooperating with them with the goal of ultimate debt relief services. So far, Pacific Debt has received a large majority of positive reviews and continues to be one of the most trusted debt settlement companies.

Customer Support

Pacific Debts packs a dual customer support form. They have three instances of support contacts for existing members and another three for non-clients. Phone, fax, and email options are available in order to reach customer support employees and resolve any possible debt relief issues at hand. Whether you prefer contact via phone or internet or you prefer sending a debt settlement letter, the company can stick to your preferences.

However, you won’t really be in need of any customer support if you enroll in their program since they will send you one person that will take care of all your needs – a personal client manager. This person will call you every time there has been a change that you need to know about, such as a proposition to settle a debt, responses from creditors, changes in laws and so on. The important thing is you will always be 100% up-to-date on everything concerning your debt.

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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