![]() Wait for an associate to reach out to you to go over your details. Fill out the form with your contact information and hit Request quote.Select the amount of debt you would like to settle and hit Get started.Visit the Credit Associates homepage or select the Go to site button on this page.You can sign up for a consultation online or over the phone. Its name has generally stayed out of the headlines, which is typically a good thing when it comes to debt settlement. It’s been around since 2016, according to the BBB - though there isn’t much information on its website. In states where there are tighter restrictions on debt settlement companies, it uses a team of in-house lawyers to handle negotiations. Weigh the pros and cons before you sign up.Ĭredit Associates is a debt settlement company that offers direct negotiations. What are the pros and cons of Credit Associates?Ĭredit Associates’ program won’t be right for everyone. And it won’t give your information away to third parties for marketing purposes without your consent. It also takes steps to protect your information online by using SSL encryption. This kind of transparency isn’t always the case with debt settlement companies. On its homepage, you can find a disclosure from the AFCC that breaks down Credit Associate’s legal limitations when it comes to negotiating your debt in plain language. This includes the International Association of Professional Debt Arbitrators (IAPDA) and the American Fair Credit Council (AFCC). Is Credit Associates legit?Ĭredit Associates is a member of trade organizations that set the standards for the debt settlement industry. If you think you’re insolvent, consider reaching out to a tax advisor to find out what steps to take. But you may be able to get around it if you’re insolvent - when your personal liabilities are greater than the value of your assets. Those savings might not be as big as you expect, since the IRS usually counts settled debt as taxable income if it’s over $600. When we spoke with a representative, they estimated that you’d save about $3,400 if you enrolled $10,000 in debt - including fees. Your savings depend on how much debt you enroll. How much could I save with Credit Associates? There’s no penalty for making a partial payment - just give the team a heads up so they know what to expect. But these tend to be more flexible than debt repayments. When you enroll, you’re required to make monthly payments toward a special purpose savings account. Ultimately this program is designed to help you save - if you see it through. But it doesn’t disclose the exact rate online, and wasn’t provided when we spoke to a representative on the phone. ![]() How much does it cost?Ĭredit Associates charges a fee based on the amount of deb enrolled after you’ve settled. After you enroll, you’ll make monthly repayments toward a special purpose savings account, which Credit Associates will use to pay off your creditors. Typically this process takes between two and three years. All international money transfer servicesĬredit Associates negotiates down unsecured debts with your creditors in exchange for a one-time lump sum repayment.
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