Pacific Debt Relief is a debt settlement company that helps consumers deal with unmanageable debt. It is certified by the International Association of Professional Debt Arbitrators (IAPDA), giving it the credibility consumers need when looking for a service like this. He lists our best debt relief companies. All rates and fees are effective as of April 2024 and are subject to change.
Pacific Debt Relief
| Eligibility criteria: | $15,000 minimum debt |
| Costs: | 15% to 25% of the total debt listed |
| Notes: | BBB A+ |
| Accreditations: | IAPDA |
| Savings: | 25%-30% after fees |
| Time: | 3-4 years |
How Pacific Debt Relief Fees Work
Pacific Debt Relief only charges fees once settlement with creditors has been made. There are no upfront fees. There are also no monthly fees paid. The fee is rolled into the monthly payment, covering the settlement amount due. Pacific Debt Relief charges 15-25% of the total listed debt.
How does working with Pacific Debt Relief impact credit score
Like most debt settlement companies, customers who use Pacific Debt Relief may see a negative impact on their credit scores. Scores may go down because Pacific Debt Relief will make you stop paying creditors so they can negotiate a settlement. A settlement company can rarely negotiate a payment unless the consumer is behind on their payments, which has a negative impact on credit.
How much can I save using Pacific Debt Relief?
Customers using Pacific Debt Relief can expect to pay approximately 50% of their debt balance before fees. Since fees vary by state from 15 to 25 percent, consumers can expect a total reduction of about 25 to 35 percent of what they owe. Savings vary by individual and depend on the negotiated settlement that Pacific Debt Relief is able to finalize with creditors.
How long does it take Pacific Debt Relief to settle debt?
The settlement process can take several months. This is when consumers stop making payments on credit accounts and Pacific Debt Relief begins the negotiation process. Once a settlement is reached, it can take up to four years to repay the debt.
Other services offered by Pacific Debt Relief
Pacific Debt Relief does not advertise any services other than debt relief. From its website and BBB page, it does not offer consolidated loans or credit counseling services.
Are there any risks associated with settling debt with Pacific Debt Relief
The main risk for consumers of using Pacific Debt Relief is that their credit score will decline. Most consumers use a debt relief company to help them pay off debt and obtain credit. However, as payments on credit accounts stop during the process, credit scores typically decline.
Pacific Debt Relief’s reputation for debt settlement?
Based on online reviews, Pacific Debt Relief has a good reputation among its customers. There appears to be no pending litigation against the company, and it has only received six complaints in the past three years with the Better Business Bureau (BBB). This is a low number compared to other debt relief companies. It also boasts an 84% five-star review from customers on Trustpilot.
Is Pacific Debt Relief Right for You?
Pacific Debt Relief is a good solution for consumers who live in their service area and have at least $15,000 in debt. They offer a free consultation and debt review to help you understand what they can do for you.
