Debtmerica LLC is a debt resolution firm based in Orange County, California. It was founded in 2006 by Jesse Stockwell and Harry Langenberg, both graduates of the Wharton Business School at the University of Pennsylvania.

The firm is an accredited member of the American Fair Credit Council (AFCC), and all its consultants are certified by the International Association of Professional Debt Arbitrators, IAPDA. It has a BBB rating of A+, the highest rating possible. Since it was established, Debtmerica has helped over 20,000 clients resolve their debt problems.

What Type Of Debt Relief Services Does Debtmerica Offer?

Debtmerica provides debt settlement and debt negotiation services for unsecured loans, such as credit cards, personal loans, business loans, collection accounts, and medical debt. In certain cases, Debtmerica will also accept private student loans.

How Does Debtmerica Work?

First, debtors voluntarily stop making monthly payments to their creditors. Instead, they deposit monthly payments to an FDIC-insured savings account controlled solely by the client. These payments are determined by what the client can realistically afford and are usually much lower than minimum payments customers made before joining Debtmerica’s debt negotiation program.

For example, a typical Debtmerica client will owe around $30,000 in unsecured debt. This amounts to minimum payments ranging from $900 to $1,200 a month. Once they join Debtmerica’s debt settlement program, monthly payments will likely be reduced to $500 to $700.

Debtmerica’s debt consultants then use the money in the savings account to negotiate a settlement with the creditors. This process applies to every account in the program until each one is settled in full. Clients usually resolve their debt accounts within 24 to 48 months.

How Much Do Debtmerica's Services Cost?

Debtmerica’s programs are performance based; in other words, no fees are collected until a settlement occurs.  There are no upfront fees and all costs are included in the monthly program payment.  Fees vary from 20% to 24% of the enrolled debt depending on the amount of enrolled debt provided. When calculated over the course of a three to four-year program, this works out to an annual fee of 6% to 8% of the debt balance. 

Debtmerica only charges clients for its services when a case is settled. Clients generally obtain a 45% to 60% reduction of their enrolled debt. 

To illustrate, if you owe $30,000, and Debtmerica reduces your debt by 50%, you will pay your creditors $15,000 and Debtmerica $6,300 (average fee of 21%). A total saving of $8,700.

What Is the Minimum Debt Debtmerica Will Consider?

Debtmerica will generally only consider customers with $10,000 or more in debts. Although in some cases, clients with as little as $7,500 in debt are accepted.

How Is Debtmerica Better Than Other Debt Settlement Companies?

Debtmerica provides the following advantages:

- It is accredited by the American Fair Credit Council (AFCC)

- All its debt consultants are certified by the International Association of Professional Debt Arbitrators, IAPDA.

- BBB A+ Rating (Highest rating possible)

- Has helped over 20,000 clients since it was founded in 2006

- It offers debt negotiation and resolution services for most types of unsecured debt

- New customers receive a free initial consultation.

- Debtmerica doesn’t charge any fees until it has settled your account.

On the other hand:

-  Debtmerica does not accept customers with less than $7,500 in debt.

  • Minimum Debt Owed
  • Debt Type
    • Unsecured Debt
    • Business Debt
  • % of Debt Fee
    18% - 24%
  • Money Back Guarantee
  • No Monthly Consultancy Fee
  • Pricing Model
    • Contingency Fee (% of enrolled debt)
    • Contingency Fee (% of savings)
  • AFCC Member
  • Contingency Model
  • Free Consultation
  • IAPDA Member
  • In-House Servicing
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0 votes

It was the best experience to deal with debt merica for they made getting out of debt and settling into the habit of saving money the most practical.

0 votes

I am very please with Debtmetica. I was able to used this company and helped a famlily that was paying so much in credit cards for many years, Debtmerica was able to put them on a plan that the family is very grateful and soon be debt FREE! The Staff is very helpful and always there to help.. I truly recommend Debtmerica I used their service for all my clients .

0 votes

Make sure you know that you owe taxes on your relieved debt according to what year it occurred! Debtmerica let me know and I'm glad they did, or else I'd be in tax debt now, too. They delivered on all of their promises and helped me out with a budget. I'd recommend them.

0 votes

After being laid off I was going to keep my good credit because potential employers won't hire dead beats. So I paid on my almost $30,000 worth of credit card debit like a good debtor. Well during that time there was a period where the government was trying to decide if they were going to extend unemployment. That lasted about eight weeks. Some happened during that time I could not pay my bills any more and I discovered that it did not hurt to not have good credit. That's when ... I decide that I need help. I am now in the finaly stretch of payin off everything. The feeling of knowing that in 2014 will be the first time since 1990 I will not have any more credit card debit. Oh what a beautiful feeling. More Less

0 votes

It was a really tough decision paying a company to relieve our debt, but I am glad we decided to do it with Debtmerica. They not only helped us with debt, they also helped us figure out a budget for every month and also helped us get into the habit of putting some money into savings.

0 votes

So far, I think Debtmerica is a great company to work with for debt relief. Although, I do wish they would check in more often, just to see if anything has changed or updated. Other than that, I respect their services and cannot wait for the day I am completely debt free.

0 votes

My consultant was so easy to talk to. He really made it easy for me to talk about the difficult subject like credit. I learned so much! He was very informative and best of all, he save me money, in a very real way. Now I have breathing room, and I didn't have to declare BK! I just wanted to get my credit in order and they really took care of me. I cant stop telling my friends or family about them!

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