Accredited Debt Relief is a referral company for debt settlement services based in San Diego, California. It is a BBB accredited business and has an A+ rating. Accredited Debt Relief is also a member of the American Fair Credit Council, AFCC, and the International Association of Professional Debt Arbitrators, IAPDA.
The company was founded in 2008 by Shawn Syndergaard, who has a background in Marketing and previously worked as a manager and VP for Veracity Credit Consultants and My Credit Group.
Accredited Debt Relief does not provide debt relief services directly. Instead, it matches debtors with debt relief companies in its network. When you submit your information, either over the phone or through its website, Accredited Debt Relief passes on your information to partners that operate in your state. The debt settlement companies then bid for your business by offering a proposal for their negotiation services.
Debt relief companies, also known as debt settlement companies, collect monthly payments from debtors and deposit them in an internal savings account, also known as a settlement fund. These funds are then used to negotiate directly with creditors for a lump sum discounted payment of the debt.
Although Accredited Debt Relief does not guarantee how much its partners can save debtors, its negotiation team have settled cases for 11% to 50% of the debt balance. Accredited Debt Relief claims that clients who make regular monthly payments to the fund will typically settle for 50% of their initial debt. This does not include the fees charged by the debt relief companies or Accredited Debt Relief’s commission.
Accredited Debt Relief offers referrals for a wide selection of services. These include credit counseling, debt consolidation, debt management, debt settlement, and bankruptcy. Notice Accredited Debt Relief does not provide these services in-house but can recommend partners in your state that do.
Fees vary widely depending on the state and the debt relief company you hire. Remember Accredited Debt Relief is not the service provider so it can’t provide a fee schedule. However, the fees do range between 18% to 25% of the initial balance. Accredited Debt Relief and its partners do not charge for services until an account is settled.
To illustrate, let’s say you owe $10,000 and Accredited Debt Relief’s partner manages to negotiate a settlement of 50% of the initial debt. You would pay $5,000 to your creditors and $1,800 to $2,500 to the debt relief company.
Accredited Debt Relief will consider customers with all debt balances. However, customers with small balances will receive fewer (if any) offers. This is because fees are usually determined as a percentage of the initial debt balance. Many debt relief companies will not consider accounts with less than $10,000 in debt. If you owe considerably less, you may not have that many firms bidding for your business.
Accredited Debt Relief provides the following advantages:
- It is accredited by the FTC, AFCC, BBB (A+), and the IAPDA
- Its partners offer a wide selection of debt relief services: including bankruptcy, credit counseling, debt consolidation, debt management, and debt settlement.
- It offers a free initial consultation and no fees until it has obtained results.
- Flexible monthly payments program
- Excellent customer service. Accredited Debt Relief only has three complaints with the BBB in the last 12 months and 20 positive experience reviews.
You should consider that:
- Accredited Debt Relief does not provide debt relief services directly. It matches customers to a debt settlement company in its network of partners.
- Doesn’t offer tax debt relief.
- Does not offer a money-back guarantee.