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National Debt Relief Review
National Debt Relief can help you settle your debts for less than you have to
By Holly Johnson
Updated January 13, 2023
Read by Margaret James
Facts verified by Katrina Munichiello
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National Debt Relief logo
Rating for Investopedia: 4.6
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Our Take
National Debt Relief is a highly rated company for debt relief that offers a free consultation with debt counselors who are able to help. Established in 2009, the company helps people settle their debts for less than they owe. When we conducted an independent review of debt relief businesses, National Debt Relief earned the highest ranking in the category of “best overall.”
Pros & Cons
Key Takeaways
Overview of the Company
Pros
No upfront settlement fees
Free consultation can assist you in comparing your choices
Client portal lets you track your progress live
Cons
The cost of fees can be as high as 25% of the amount you settle debt
There is no mobile app that works with the program
National Debt Relief logo
overall rating 4.6
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Table of Contents
Pros Explained
Cons Explained
Debt types addressed
Client Onboarding
Customer Service
Company Reputation
Average Relief Amount
Average Time to Relief
Cost
The Competitor
Final Verdict
Methodology
National Debt Relief is a firm that provides relief via a process known as debt settlement, which aims to assist customers in getting out of debt. With this method, you’ll set an amount in a savings account every month until you’re able to “settle” your debts for less than what you are owed.
You’ll be paying National Debt Relief a percentage of the debts they settle however, only when you’ve seen results. This company claims that, even after accounting for their fees customers can save up to 30% and 50% of their original debt when the process is complete.
A free consultation can help you decide if debt settlement is right for you.
Debt settlement can cause harm to your credit score because you’ll cease making payments on your debts during your program. Be sure to understand the advantages and disadvantages of debt settlement before you proceed, and shop around with several debt relief firms before making a choice.
Pros Explained
There are no upfront fees for settlement No upfront settlement fees: With National Debt Relief, you only pay when you get results. The fees are calculated as a percentage of debt that is settled, and only when the negotiation has been completed.
A free consultation will help you determine your options: You are able to call National Debt Relief to speak with a debt counselor for free. This session gives you the chance to ask questions and find out what debt settlement options are best for you.
Client portal lets you track your progress live In contrast to other debt relief firms, National Debt Relief has an online client portal that allows you to manage your program and monitor the process of settling your debt regardless of day or at night.
Cons Explained
Fees can run as high as 25% of the amount you have settled debt: Some of the companies that we have independently researched have fees that are lesser percent as National Debt Relief.
There is no mobile application available for the program: While National Debt Relief does have an online client portal, the debt relief firm doesn’t have an app for mobile devices which lets you monitor the progress of your debt settlement program while on the move.
Types of Debt Addressed
National Debt Relief aims to aid consumers to pay off unsecure debt, which includes any type of debt that is not secure by collateral. It is good to know that the company has a debt qualifications page on their site where they explain which debts do and do not meet the criteria for. The main kinds of debts they deal with are listed below.
Credit card debt
If you have credit card debt from a conventional credit card or a retailer credit card National Debt Relief can help you settle for less than what you are owed. This is applicable to major credit cards like American Express, Visa, or Discover and also co-branded cards from stores like Kohl’s as well as Sears.
Personal loans as well as payday loans
You may also negotiate and settle any personal debt you have, including personal loans from banks or online lenders or even payday loans. Installment loans are also eligible.
Business debts
Business debts can be resolved through negotiations and for less than you owe now. National Debt Relief says these loans should be secured and prefer to help to negotiate debts for companies that have already been shut down.
Medical bills not paid
National Debt Relief can also aid you in paying less than you owe towards your medical expenses. Negotiations are able to be concluded with doctor’s offices, hospitals and other medical professionals.
Back rent
If you’re behind on the rent you pay, then you may be in a position to negotiate the amount due in arrears. But, you’re able to negotiate the debt if you are no longer a resident.
Private student loans
It is also possible to settle debt linked with private school loans at a lower rate than the total amount. Be aware that federal student loans are not eligible for debt settlement.
You can bundle more than one type of debt into a debt settlement plan. If you’re in debt from credit card debt, medical bills, or business debts for instance, National Debt Relief can help you settle all of them during your program.
Client Onboarding
Getting started with National Debt Relief requires you to contact us for a complimentary consultation. During this conversation with a debt counselor will be able to discuss your situation and your finances before determining how long the debt settlement process could take and the amount you could save.
National Debt Relief states that you have to be in debt of at least $7,500 in order to be eligible for their assistance. You also need to not be “several months behind in your payments” as creditors won’t have a reason to negotiate with you if you’re current with your bills.
If you don’t have enough debt to be eligible for a debt settlement program then you may want to look into other options like credit counseling or program for managing debt (DMPs) or the debt consolidation loans.
Customer Service
One benefit when working with a company that deals in debt relief is that they know the debt collection rules and regulations inside and out. For example, National Debt Relief states their experts and debt counselors can assist you with your way through the Fair Credit Reporting Act, the Fair Credit Billing Act, and the Fair Debt Collection Practices Act as you settle your debt.
The company provides telephone and email customer service. If you need a complimentary debt counseling, you are able to make a call to talk with an adviser Monday through Friday from 8 a.m. until midnight EST and also on Saturday between 10 a.m. until 10 p.m. Customers who are already customers can call to get help via phone every day from 10 a.m. until 8 p.m.
National Debt Relief doesn’t offer an app for mobile devices or an online chat function There aren’t many options to get help than some providers offer. However, their numerous positive user reviews boast about rapid response times and their willingness to assist.
Company Reputation
The field of debt relief is not without plenty of scams to deal with This is the reason it’s crucial to research companies before you sign up for their services. One method to accomplish this is by using the Consumer Financial Protection Bureau (CFPB) database, which lets you search for user complaints among companies offering debt settlement.
The company has an average of 4.7 out of 5 stars across nearly 35,000 user reviews on Trustpilot.
Because of their excellent reviews and third-party rankings, National Debt Relief received the highest marks on reputation and reputation among our study.
If you are unhappy about the services of a debt relief company You can submit a complaint to the FTC or contact 877-FTC-HELP.
Average Relief Amount
National Debt Relief states that the amount you save is contingent on a wide range of elements. But, the majority of people save 30 to 50% off of their original debt amounts as well as those savings can be realized after taking into consideration the fees you pay for your debt settlement program.
Average Time for Relief
Debt settlement by National Debt Relief should take between 24 to 48 months in total that’s the standard for other companies. The time needed to complete your program can vary based on how much you owe, the amount you are able to save each month, and other variables like how willing lenders are to bargain.
Cost
National Debt Relief says their average client pays a fee between 15 and 25 percent of the debt they enroll into their service. The fee is only due once results are achieved and debt is settled at a lower rate than the original amount.
In general, their fee percentage is on the same level as industry averages.
The Competitor
National Debt Relief Accredited Debt Relief
Year of the Year 20092011
Accreditation Accredited with the American Fair Credit Council (AFCC)
Accredited by the International Association of Professional Debt Arbitrators (IAPDA) Accredited with the International Association of Professional Debt Arbitrators (IAPDA) Accredited by the American Fair Credit Council (AFCC)
Not accredited by IAPDA. International Association of Professional Debt Arbitrators (IAPDA)
Services Provided Debt Settlement Settlement of debt
Customer Service TouchpointsFree consultation; phone and email customer service; Client portal online for free consultation. Phone and email customer service
Fee : No upfront charges; Pay 15% to 25% of your debtNo upfront fees; Pay 15 percent to 25% of your debt
Average Program TimeBetween 24 and 48 months24-48 months
We decided to contrast highly-rated National Debt Relief to Accredited Debt Relief Accredited Debt Relief, a debt relief company that scored the second highest ranking in our research study. Both companies received excellent rankings from Investopedia in relation to its customer support, their company reputation, their fees, and the services offered. Further, they both offer the same program length of between 24 and 48 months. They also offer free consultations and charges that range from 15% and 25% of your settled debts.
With that being said, National Debt Relief stands out due to its IAPDA accreditation. National Debt Relief also offers an online portal that lets customers oversee their program and track their progress at any time of the night or day.
Final Verdict
The bottom line is that there’s no debt relief service that we would recommend more then National Debt Relief due to its professionalism, efficiency of the company, costs and fees, and excellent customer service. This company scored an average score of 4.63 out of 5 feasible stars during our independent study, while the average firm scored only 3.56.
If you’ve got at least $7,500 in unsecured debt you’d like to pay off, you should contact National Debt Relief for a free consultation. There are no upfront fees to pay, and you’ll be able to find out whether debt settlement is a good idea with no obligation.
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How We Review Debt Relief Companies
Investopedia has conducted an independent study that evaluated fifteen debt relief companies based on their customer service, ratings and company’s reputation in terms of product offerings, pricing, and transparency. We sought out debt relief companies with positive reviews, customer testimonials, customer service accessibility, and the essential information regarding their plans clearly posted online, as well as companies with high ratings from third-party sources.
Ultimately, National Debt Relief scored the highest score of 4.63 out five stars in our rating, which earned them the top spot in our ranking as “best overall.”
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