Best Debt Settlement Company » Reviews

Cura Debt

Thu, 04 Dec 2008 20:36:49 +0000

Cura Debt is a company which specializes in debt settlement and and debt consolidation. The difference between the two is debt settlement is when you call your creditors and negotiate a lower balance on your outstanding debts. Debt consolidation is where a company pays off your debts and includes them into one new loan. Doing so will free up money for you from month to month and help lower your interest rates. The two are closely related.

Cura Debt has been in business since 1996 and is located in California. They say that a number of the directors have been involved in the business for over 25 years and hold a number of licenses which give them leverage when negotiating debts on your behalf. Cura Debt holds a outstanding rating with the Better Business Bureau and has been a member with them since 2000.

The goal of Cura Debt is to be able to help their clients avoid bankruptcy at all cost. They claim to manage over $100 Million of their clients debts and counsel over 10,000 families a year. With such a large portfolio of clients and a large amount of finance involved with the company its easy to see why they are a leader in what they do.

To get the process started with Cura Debt you only need to fill out a quick form and they will contact you within 24 hours. They offer a free consultation to individuals and businesses to see what they can do for you. If they can find a solution that works for you they charge a fee based on the size of your debts that you are looking to pay off.

Cura Debt deals with not only individuals but businesses as well. Whether you are a individual or a business they are working to help you get on the right track and to help clean up your credit history. They have a team of lawyers working for you to reduce the amount of debts you are on the hook for. Once you become a client they will start to write up a negotiation letter on your behalf to your creditors asking for a settlement.

Do be aware that when you do any kind of counseling it does go on your credit report. This can lead to a drop in your credit scores and can make it hard to get approved on a new mortgage for example. If you do not plan on buying or refinancing a home within a couple years after you have the debts paid off then the debt negotiation route will work for you. In most cases, going the debt consolidation route is the easiest. It goes on your credit report as a personal loan and will get you on track to improving your credit scores. Cura Debt can help you negotiate these debts for you and has lenders on site to work up a payment plan with low interest rates.

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Cura Debt

Debt Settlement

Lending Club

Wed, 03 Dec 2008 03:26:29 +0000

Lending Club is not a true debt settlement company. What Lending Club does is act as a intermediary between investors and a person looking for a personal loan. In most cases this is better for the individual because it will go on your credit report as a personal loan and not as debt being written down with creditors which sometimes causes your credit score to drop.

How Lending Club works is a group of people lend money to some body looking for a loan. This can be any type of loan. As an example. Let’s say you were trying to consolidate $10k in credit card debt. The monthly payments are too high and the interest rates are over 20%. When you contact Lending Club you will write a posting about your self and what you intend to use the money for. You will have to list everything about yourself including your income, assets, and job history. You will want to be as thorough as possible. If you do not tell potential investors as much as they want to know you will more than likely not get the money you are looking for.

The investors are normal people looking for a great return on their money. Think of it as borrowing money from your neighbor instead of the bank or a credit card. This is a win-win situation for everybody because you are getting the money to help pay down your credit cards and the investor is making a fixed rate of return on their money. The loans are made to be paid back over a 3 year period. This is nice because you will know what your payment will be for the entire time. Lending Club can automatically deduct payments from your checking account if you want. Many of the loans are funded in less than a week and are automatically deposited into your checking account.

You will have to have good credit to be accepted in to Lending Club. The minimum credit score to be accepted is a 660. Anything lower and you will be denied. You cannot have any bankruptcies, foreclosures, current delinquencies, collections or open tax liens, a credit history of 12 months, no more than 10 credit inquiries in the last 6 months and at least 3 open accounts on your credit report. You will also have to have a debt to income ratio of less than 25% after you accept the loan. The largest loan that can be offered is up to $25,000. To get the loan you will need to have credit scores over 760.

The amount of interest you pay will be determined by what the investors are willing to risk on you. When you create your listing, Lending Club will determine what your interest rate will be by a format they have which looks at all of your qualifying factors. If you like the terms, the listing is created. If the loan is not funded you have the option to take half of the money at that interest rate. The rates you pay with Lending Club are going to be lower than your bank or a credit card. It does not cost anything to join. They take 1% off of the interest you are paying to the investors and keep that money.

If you default on a loan, Lending Club does work with collection agencies which will be contacting you. The loan does go on your credit report so if you do not pay your credit scores will drop and you will no longer be allowed to borrow or invest with Lending Club again. Many people borrow and invest with Lending Club. Its a great way to make some money helping people in need. With it costing nothing to join you might as well give it a try. Lending Club is perfect for someone looking for a quick and cheap way to consolidate their debts.

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Lending Club

Debt Settlement

Cash Net USA

Wed, 31 Dec 2008 01:55:58 +0000

Cash Net USA is a company who deals with people who have less than perfect credit. Cash Net USA will help people who need to get cash fast. This is perfect for people who need money for car repairs, medical expenses, or any other financial emergency.

Some of the benefits of working with Cash Net USA is that you will be able to get up to $550 in cash in your checking account the very next day if you get approved. It does depend on what state you live in most cases. If you are a returning customer you can ask for up to $1550 as long as you are current with your current loans.

To get approved on a loan with Cash Net USA is pretty easy. All you need is a checking account, been employed for a month, must be a US citizen, and be at least 18 years of age.

To pay a loan back with Cash Net USA you can choose from a couple options. You can pay in full, extend the payment, or make a partial payment. In every case you have to pay interest, fees, and principal. Most loans have to be paid back within 8 to 31 days or your next payday.

The rates and terms of the loan vary by state but here are some general guidelines. You will pay a non-refundable $.45 fee and $15 for every $100 you borrow. So for $500 you will be charged $77.25.

Cash Net USA is not a normal debt settlement company but is more along the lines of a payday loan company. Still, if you need to consolidate some debt or get some quick cash, Cash Net USA might be a avenue for you.

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Cash Net USA

Debt Settlement

Freedom Debt Relief

Fri, 22 May 2009 20:11:36 +0000

Freedom Debt Relief is a company that prides itself on getting clients debt reduced. They have a step by step program that goes over what to expect from start to finish of the process. This should be taken into consideration when you are looking to work with a company. They let you know that this is not going to be taken care of over night and it will take some work from you before they are willing to represent you. These are the steps involved in the process:

Step 1: Call or e-mail for a free consultation. Freedom Debt Relief will assess your financial situation and determine your potential for debt reduction.

Step 2: They will work with you to determine the appropriate monthly dollar amount that you plan to save towards a negotiated settlement. This amount is typically significantly less than your current minimum payments, and goes toward paying off your debt (not simply paying credit card interest charges). These funds will be saved every month in a new account that you set up and control.

Step 3: Once you enroll in the “Debt Reduction Program” they will contact your creditors in an attempt to handle future creditor communications. You are requested to avoid using credit while on the program.

Step 4: After funds have accrued to make reasonable offers, Freedom Debt Relief will begin negotiating with your creditors individually. They attempt to reduce debts by at least 50% of your current balances. During the process you will be kept in contact with. It may take several months of you saving money before they are in a position to make settlement offers.

Step 5: Once a settlement is negotiated with a creditor, you will be notified via a “Good News” notification from them.

Step 6: After the account is paid, your creditors may report to the credit rating bureaus that your accounts are “settled in full,” “settled,” “paid,” “paid by settlement”, or “settled for less than the full amount.” You no longer owe on this account and the balance is zero.

Once the debt is taken care of Freedom Debt Relief claims they can help you get set up with purchasing a home, car, or related financial products. They do not deal with secured debts like mortgages or car loans. Medical bills, credit cards, personal loans, or other forms of unsecured debts is what they deal with.

When you hire Freedom Debt Relief they do not charge any upfront fees. It is charged over a span of 18 months. A retainer fee is paid in the first 3 months and then a service fee over the remaining 15 months. The fees are withdrawn monthly from a account you set up with them. Your creditors are contacted within two weeks and are notified that you have given them Power of Attorney on those accounts and that all calls need to be directed to them. However, the negotiating process does not really start until you have saved up enough money to be taken serious by your creditors.

The company was founded in 2002. They operate out of California and Arizona with over 500 employees. In that shore time period they have helped out over 30,000 customers reduce their debts and advise them on the next steps towards being financially free. Freedom Debt Relief has all the backing to be considered one of the best debt settlement companies out there.

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Freedom Debt Relief

Debt Settlement

Pertuity Direct

Wed, 18 Mar 2009 16:32:37 +0000

Pertuity Direct is a unique place where people who are looking to consolidate debt can go. The company itself does not do the lending as this site is considered a Peer To Peer site. How a Peer to Peer site works is you put a listing up about yourself and your current situation and people put money into a pool equaling up to the amount you are looking for. Normal people put in money earning interest on the money you borrowed. This is a win win situation as you get the money and now everyday people can make some money and not a bank.

What makes the Pertuity Direct process a little bit more unique than other Peer to Peer sites is that there is no bidding involved. Once the amount of money you are asking for has been reached your application goes in front of a underwriter who reviews it. Most applications take less than a couple hours to view and you will know something that day.

You can apply for a loan amount from $1,000 to $25,000. There are no points or prepayment penalties. Each loan will have different pay back periods and will be determined at the time of application.

The Details

Only loan applicants with a credit score of 660 or higher will be considered for approval and we do not offer any subprime loans. Pertuity Direct handles the individual credit bureau review, credit approval and setting the individual loan interest rate.

1. Approval
All borrowers must first be credit approved. During the credit screening process, a borrower’s credit history is reviewed. There are approval requirements that take into account risk factors such as:

Credit score (minimum credit score of 660 required)
Debt to income ratio
Loan amount
Delinquencies
Number of recent credit inquiries
Number of open credit lines
Utilization of open credit lines
Years of credit history
Bankruptcies

2. Interest rate determination
Once approved, an interest rate will be calculated for each loan. To determine the appropriate interest rate, Pertuity Direct will review a borrower’s credit score and any additional risk factors (things like debt-to-income ratio, number of open credit lines and others listed above) to better assess a borrower’s risk. Those additional risk factors, combined with the credit score, allow their credit risk model to calculate the final interest rate for a loan.

Fees

They have a strict policy of showing you everything up front. There are no fees to create an account or apply for a loan. The only time fees apply are once a borrower has a funded loan.

Borrower Fees

1-2% closing fee (depending on credit score)
$15 failed payment fee
$15 late payment fee (on average, may be slightly lower/higher in some states)
1% Electronic Funds Transfer discount

Pertuity Direct does not specialize in debt settlement. It is a avenue for people to consolidate and get a low interest rate while helping out other people earn a rate of return on the money they lent you instead of a bank.

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Pertuity Direct

Debt Settlement

Safe Online Cash

Fri, 27 Feb 2009 15:25:07 +0000

Safe Online Cash is a site that will take your information and send it to participating lenders to try and get you approved on a pay day loan. You are not going to be able to clear up a lot of debt with this company but they will be able to help you out if you are in a jam.

To get approved on a loan with Safe Online Cash you need to:

Currently have a job (or receive regular income)
Make at least $800 per month
Are 18 years of age or older and a U.S. citizen
Have a checking account
Other requirements may apply

Credit scores are not a major factor when applying. Bankruptcy, bounced checks, charge-offs and other credit hassles are often over looked due to the shortness in length of this loan.

The most that anybody can get approved for is $1,000. There are a couple of factors that go into your application process like your lender, income, and employment. This is why working with Safe Online Cash should not be considered a long term strategy to take care of debts. This is a short term fix to help you take care of certain obligations you might have.

Safe Online Cash does not have a fee structure posted on their site because they take your application and send it to lenders. After they get a couple offers they contact you with the best offer with the lowest fees. After getting approved and accepting the terms of the cash advance you can have the money deposited into your account the very next day.

The repayment period varies depending on the lender. Be prepared to pay it all back within a month. This is usually the longest amount of time most lenders will give. Some will offer extensions in case you cannot come up with the money to pay. You will need to contact your lender if you are in this situation. If you do have the money to pay and want to pay it all off you can do so and not have to worry about any pre-payment penalties.

Safe Online Cash is not the true definition of a debt settlement company since they are not a lender. What they specialize in is helping people who need small amounts of cash in a quick time period get it. Since they do not tell you what the rates and fees are you should expect to hear higher rates at the time of application. This is just the way it goes when you are looking for a pay day loan.

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Safe Online Cash

Debt Settlement

Check City

Fri, 13 Feb 2009 18:02:47 +0000

Check City specializes in doing personal loans. They would be considered more of a pay day loan company then a debt settlement company. Since they give the money to you to decide what to do with it puts you in control of taking care of your financial obligations.

How the process works with Check City is after you apply with them you will get notified if you are approved. After the approval you can get your money deposited into your account in as little as 3 business days. Depending on what state you live in you could take a loan from them for up to 2 weeks. On your next scheduled pay day Check City will make a automatic withdrawal from your checking account the amount of money your borrowed plus the fees they charge.

The fees involved when working with a pay day lender can be steep. Check City is not different. Most of their rates hover in the 15% range. Each state has different restrictions on how much they can charge. For instance, if you were to borrow $100 one week, the very next day you are scheduled to get paid, Check City would take $115 from your checking account. The $100 to cover the loan and the $15 fee they charge for giving you the money. Most states will only let you borrow up to $1500 from Check City.

There are times when you can extend your loan and you will have to call Check City to do so. You will still be charged the interest rate you agreed upon on at the time of application. You can pre-pay your loan back at anytime without penalty. If you think you will not be able to make the payments on time then Check City will work with you to get a plan taken care of to keep your account in good standing with them. All customers who keep their account in good standing will have an easier time getting approved on future loans.

Working with Check City is not a long term solution. You will not be able to get large sums of money to take care of a lot of debt. Instead you will be able to get a small amount of money to take care of your financial obligations. This is more of a quick fix. Be prepared to pay a fee near 15% or more when taking a loan. Even though Check City is not a debt settlement company by definition, you can at least get some quick cash to help you out of a jam.

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Check City

Debt Settlement

Clear Up My Debt Now

Fri, 05 Dec 2008 15:50:15 +0000

Clear Up My Debt Now is a website which collects people’s information trying to take care of debt problems they are in. Clear Up My Debt Now is not a debt settlement company. They work with a number of companies that are experts in the debt settlement industry. When you go to the website it asks you to fill in a simple form with how much debt you have, if you are late on your payments, and how many credit cards you have.

After filling in the form it takes you to a screen where you put all of your contact information. From this point Clear Up My Debt Now takes what you have inserted and they go out and find a debt consolidation company willing to look at your situation. Some of the companies they work with say you must have at least $10,000 in debt for them to look at your situation. The reason is because most debt consolidation companies charge a fee based off of the balance and a low balance might not make sense for them to take you on as a client. Still go ahead and insert your info because you are under no obligation to work with anybody and it costs nothing to do.

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Clear Up My Debt Now

Debt Settlement

Free Cura Debt Analysis

Thu, 04 Dec 2008 18:16:49 +0000

Free Cura Debt Analysis is not really a debt settlement company. What they do is have you insert all of your information into a form and then send it to companies that specialize in handling debt settlements. Depending on what you put into the fields you could receive a number of offers and calls back from debt companies.

Be sure to fill out as much information as you can when completing the form. This will help you in getting called back from companies that realize that you are serious in taking care of your debt.

Free Cura Debt Analysis’s website is very simple and it gets right to the issue at hand. They want your info to get the process started. It only take a minute or two to fill out the form and then they take care of finding companies for you.

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Free Cura Debt Analysis

Debt Settlement

National Tax Relief

Tue, 02 Dec 2008 22:59:03 +0000

National Tax Relief is a company that specializes in settling debts with the IRS. All of their focus is on helping you pay back only what you owe to the U.S Government. They do not deal with other kinds of debts, only back taxes.

Some of the services they claim to be experts in are writing “Offers in Compromise.” What National Tax Relief does is contact the IRS on your behalf and writes up an agreement stating that you are going to pay for a certain amount of your debts. The IRS usually accepts this because they do not want to spend a lot of time and resources (tax payer dollars) trying to track down people who cannot pay. By accepting a “Offer in Compromise” you agree to pay the debt in full over the next 6 years and continue to pay what you will owe in the future. They will permanently forgive the outstanding debts agreed with in the contract. The process can take up to 9 months to complete but if it is accepted you will be rid of any back federal taxes and liens on your credit report.

National Tax Relief can also help you file back tax returns. After completing all of your letters with the IRS you will need to redo your old tax returns to show that you are in good standing with the IRS. National Tax Relief can help you do this. They offer a free 15 minute consultation period to see what they can do for you.

After completing your tax returns and your Offer In Compromise, National Tax Relief will work with you to set up a payment plan with the IRS. Most people cannot make a lump sum payment to clear up their past debts. This will help you to be able to still continue living your life while paying back your debts.

National Tax Relief only deals with individuals or business owners who owe more than $7,500. The reason they do this is because their fees typically are higher than $200 and with the amount of time it takes to work with the IRS it does not come cost effective for National Tax Relief to take you as a client.

They have clients from all types of backgrounds. Some of their clients are small business owners, Doctors, Lawyers, Janitors, etc. National Tax Relief is not a typical debt settlement company in that they only deal with taxes but they will be able to help you out if you fall into that category.

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National Tax Relief