Can National Debt Relief help me with $25k in credit card debt?

C

CeriseHonest

New Member
Hello. I currently have a total of $25,000 in debt. This amount is spread across four different credit cards and one account that has been sent to collections.

My credit has been damaged by the account in collections. This makes me ineligible for personal loan options. The situation occurred without my knowledge. I receied no notification about the account. I also do not know how to settle the debt. It has been a negative mark on my report for several months.

Is National Debt Relief a reputable service? I have reviewed a potential estimate. According to it, I could manage a payment of $425 per month. The proposed timeline is three years and nine months. This plan would resolve my entire debt situation.
 
I've dealt with similar companies. They often advise stopping all debt payments to push accounts into collections. They fail to mention that credit card companies may sue. Your credit report will be damaged for seven years until those entries are removed.
 
If this feels doable, it may be a good option.
Many employers also offer legal services for free or at a lower cost.
You get counseling, then consider all options.
Think about what will be easiest moving forward.
I’m going to try to check with my company soon.
 
Consider a debt management agency. NDR will further damage your credit score. Debt management negotiates and maintains accounts as current. Contact Cambridge Credit Counseling.
 
Consider a non profit. They avoid delinquency and prevent years of credit damage. Search NFCC to find a counselor. I’m using Money Management International and haven’t needed to call anyone. I began with 38k in November. It’s been smooth so far.
 
So, I went with Freedom Debt Relief and I'm still making payments I'm pretty sure I'll finish up this December or maybe early next year. Honestly, my credit's gotten a lot better, and I even managed to buy a truck! Right now, my lowest score is around 730, according to Credit Karma. I've heard they're not the most reliable, but I don't really know where else to check my scores for free.
 
Go ahead and bend or break writing rules, but always know why they exist. I’ve been on one of these plans for a couple years now. Yes, your credit will take a dive at first. Honestly, though, it’s already trash, I’m ssuming, so whatever. After about six months, you’ll notice your score climbing back up; after a year, you’ll have a score around 650. Not bad, I think. And yes, you can contact the credit companies yourself but I’m lazy, so they handle everything for a fee. It’s not a huge fee, totally worth it. They take care of it all, the bill collection calls stop it’s great.
 
Engaging with this approach does not offer legal protection, and there is no assurance that credit card companies will accept the proposed settlements. They retain the option to pursue legal action, irrespective of any arrangement with National Debt Relief or similar entities. Considering Credit Counseling or a Debt Management Plan may be advisable. In such programs, while you continue to repay your obligations, they negotiate with creditors to close accounts and reduce interest rates to 5% or below. My own rates have been adjusted to between 0% and 1%. A monthly administrative fee of $10 per account applies, alongside the payment remitted to the management organization, which employs a snowball method to systematically eliminate debts. This process initially impacted my credit score, yet I have observed significant recovery in just over a year.
 
NDR is one of the largest debt settlement companies out there. If this is the route you plan to take(not saying it's the best option), its probably the most legitimate debt relief company you could work with.
 
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