When it comes to financial services, it’s important to do your research and find a reputable company to work with. This is particularly true when it comes to debt settlement. One company that has been getting a lot of attention lately is Credit Associates. However, with so many scams out there, it’s important to ask the question: is Credit Associates a scam or a legit service? In this article, we’ll take a closer look at the company, its services, and what customers have to say to help you make an informed decision.
Credit Associates is a company that helps people who are having trouble paying off their debts negotiate with their creditors to get their debt balances lowered. They work with clients to come up with a plan that will help them get out of debt and become financially independent.
This article will provide a detailed review of Credit Associates, answering all the questions and addressing FAQs related to the company’s services.
Credit Associates is America’s #1-rated debt relief company, and they have helped thousands of people get back on track financially. Debt consolidation can be a great way to get rid of high-interest rates and simplify your monthly payments, and Credit Associates can help you do this quickly and easily.
There are many companies that offer debt consolidation services, but Credit Associates is one of the few that also offers a money-back satisfaction guarantee. This means that you can try their services with no risk – and get your money back if you’re not happy.
Credit Associates Pros and Cons
- Debt Reduction: Credit Associates’ debt settlement program can help clients reduce their overall debt load, making it easier to manage their finances.
- Affordable Payments: Credit Associates’ payment plans are designed to be affordable, making it easier for clients to make progress toward becoming debt-free.
- Customized Solutions: Credit Associates’ debt settlement plans are customized to meet the unique needs of each client, ensuring that their individual financial goals are taken into consideration.
- Professional Assistance: Credit Associates’ team of professionals is experienced in negotiating with creditors, ensuring that clients receive the best possible outcome.
- Free Consultation: Credit Associates offers a free consultation to clients to discuss their financial situation and determine if debt settlement is the right solution for them.
- Negative Impact on Credit Score: Using Credit Associates’ debt settlement program may have a negative impact on your credit score.
- Fees: Credit Associates charges a percentage of the amount of debt they are able to settle on behalf of clients. The exact fee varies depending on the amount of debt and the individual client’s circumstances.
- Not Suitable for All Debts: Credit Associates will not negotiate with government-backed student loans or payday loans.
Overall, Credit Associates can be a helpful solution for consumers struggling with debt. However, it’s important to carefully consider the pros and cons and determine if debt settlement is the right solution for your specific financial situation.
What is Credit Associates?
Credit Associates is a debt settlement company that helps people with high debt balances pay off some of their debts. As part of the debt settlement process, the company talks to the client’s creditors about lowering the total amount of debt, including interest and fees.
Credit Associates’ debt settlement services are meant to help people avoid bankruptcy, cut down on their overall debt, and get a better handle on their finances. The company works with clients to create a customized debt relief plan that is tailored to their specific needs.
How do Credit Associates work?
Credit Associates’ debt settlement process involves several steps. Here’s how it works:
- Consultation: Credit Associates offers a free consultation to clients to discuss their financial situation and determine if debt settlement is the right solution for them.
- Enrollment: If the client decides to move forward with Credit Associates, they will enroll in the company’s debt settlement program.
- Savings Account: Credit Associates will set up a savings account in the client’s name where they will deposit a predetermined amount each month.
- Negotiation: Credit Associates will begin negotiating with creditors on the client’s behalf to reduce their outstanding debt balances, including interest and fees.
- Settlement: Once a settlement is reached with a creditor, Credit Associates will use the funds from the client’s savings account to pay the creditor.
- Debt Reduction: As the client’s outstanding balances are reduced, they will become closer to being debt-free.
- Completion: Once all settlements are completed, the client’s account is considered paid in full.
Who owns Credit Associates?
Credit Associates is a debt consolidation company that has been in business for over 14 years and they know how to deal with debt.
They’re a privately held company with a team of experts that can offer you a free consultation. They’ll sit down with you and go over your options. After that, they’ll work out a plan that fits your needs and budget.
What are the benefits of using Credit Associates?
Credit Associates offers several benefits to consumers struggling with debt:
- Debt Reduction: Their debt settlement program can help clients reduce their overall debt load, making it easier to manage their finances.
- Affordable Payments: Payment plans are designed to be affordable, making it easier for clients to make progress toward becoming debt-free.
- Customized Solutions: Debt settlement plans are customized to meet the unique needs of each client, ensuring that their individual financial goals are taken into consideration.
- Professional Assistance: Their team of professionals is experienced in negotiating with creditors, ensuring that clients receive the best possible outcome.
- Stress Reduction: The debt settlement program can help clients reduce their stress levels by providing a clear path toward becoming debt-free.
How much does Credit Associates charge?
Credit Associates charges a fee for their debt settlement services based on a percentage of the total amount of debt in their program. The exact fee may be different depending on a number of things, such as the amount of debt enrolled, the financial situation of the client, and the terms of the debt settlement agreement negotiated with creditors. Typically, the fee ranges from 15% to 25% of the total debt enrolled.
Credit Associates, on the other hand, does not charge any fees upfront or on a monthly basis. This can make their program more affordable and easier for clients to use. It’s important to note that the fee is only charged if Credit Associates is successful in negotiating a settlement with your creditors. If they are not successful, they will not charge a fee for their services. Before signing up for Credit Associates’ debt settlement program, you should talk to a representative in depth about the fees and payment plan to make sure you understand the costs.
How much can Credit Associates save you?
Credit Associates’ debt settlement program can save you money, but how much depends on a number of things, like how much debt you have, the terms of your debt settlement agreements with creditors, and your own financial situation. Most of the time, Credit Associates try to reach deals with creditors that reduce your total debt by a large amount, usually between 40% and 60% of the original debt balance before fees.
This can result in significant savings for clients, allowing them to pay off their debts more quickly and at a lower overall cost. However, it’s important to note that the amount of savings can vary widely depending on the specifics of each individual’s case.
How long does it take to complete Credit Associates’ debt settlement program?
The length of time it takes to complete Credit Associates’ debt settlement program varies depending on each individual’s circumstances. Some clients may complete the program in as little as 24 months, while others may take longer. The length of the program depends on a number of things, such as how much debt is in the program, how much money the client can set aside each month, and how long it takes to come to an agreement with creditors to settle the debt.
The length of time it takes to complete the program can vary depending on how quickly clients are able to save the funds necessary to make the settlement payments. It’s recommended to discuss the expected length of the program with a Credit Associates representative during your initial consultation to get a better understanding of what you can expect from the program based on your specific financial situation.
Which companies do Credit Associates settle debts with?
Credit Associates is a debt relief company that has recently settled debts with Capital One, Visa, Mastercard, Chase, American Express, Citibank, Wells Fargo, Bank of America, Amazon, Macy’s, Costco, Lowe’s, Target, Kohls, Paypal, Walmart, Sam’s Club, T.J. Maxx, Bestbuy, Verizon, and many more.
How do Credit Associates affect your credit?
Yes, using Credit Associates’ debt settlement program will likely have a negative impact on your credit score. However, once the debt settlement process is complete, clients can begin rebuilding their credit.
Using the debt settlement program from Credit Associates could hurt your credit score. When you sign up for the Credit Associates program, you usually stop making payments to your creditors and instead pay a set amount each month into an escrow account. This money is then used to pay for the settlement agreements you reach with your creditors.
This can cause your credit score to drop initially, as missed or late payments are reported to credit bureaus. Additionally, if you settle a debt for less than the full amount owed, the creditor may report it to the credit bureaus as a “settled” account, which can also have a negative impact on your credit score.
It’s important to note that the negative impact on your credit score is not unique to Credit Associates’ debt settlement program. Debt settlement programs and other ways to get out of debt that involves negotiating with creditors to lower the total amount owed can hurt your credit score. If you’re worried about how it might affect your credit score, you should talk to a Credit Associates representative about your options and think about other ways to get out of debt, like debt consolidation or credit counseling.
How to contact Credit Associates customer service?
The best way to reach customer service is to give them a call at their toll-free number, 866-939-3941. Representatives are available Monday through Friday from 7:00 a.m. to 11:00 p.m. CST, and on Saturday from 8:00 a.m. to 8:00 p.m. CST.
When you call customer service, be sure to have your account number or customer ID ready so that they can assist you more effectively. The customer service call center is located in Dallas, TX at 5050 Quorum Dr., Suite 700.
How to use Credit Associates’ website?
Using Credit Associates’ website is easy and straightforward. Here are the steps to follow:
- Visit Credit Associates’ website: Start by visiting their website at www.creditassociates.com.
- Navigate the website: The website is well-organized and easy to navigate. Use the menu at the top of the page to find the information you need. You can learn about their debt settlement program, read customer reviews, and find answers to frequently asked questions.
- Request a free consultation: If you’re interested in their debt settlement program, you can request a free consultation by filling out a simple online form. A representative will contact you to discuss your debt relief options.
- Learn about debt relief: Credit Associates’ website provides a wealth of information about debt relief and debt settlement. You can learn about the debt settlement process, the potential benefits and risks of debt settlement, and how the program works.
- Read customer reviews: Their website features customer reviews and testimonials, so you can learn about other people’s experiences with the program.
- Contact Credit Associates: If you have any questions or concerns, you can contact them by phone, email, or by filling out a contact form on their website.
Their website is easy to use and provides valuable information for people who are struggling with debt and looking for a way to get back on track financially.
Credit Associates BBB reviews
When you’re searching for a debt relief company, one of the best places to look is the Better Business Bureau. The BBB can provide you with reviews from other customers, so you can get an idea of what to expect. Plus, reading reviews can help you gauge a company’s responsiveness to customer complaints.
In this case, the BBB review for Credit Associates is an A+.
This means that previous customers have had mostly positive experiences with the company. And since there are many companies out there that don’t have such high standards, it’s definitely worth considering using one that does.
There are many Credit Associates BBB Reviews online, and they are all very positive.
Dennis S 01/12/2021
Elizabeth K*** is a very special person, not only is she professional, courteous, and helpful but she is an especially car*** person, Elizabeth has gone out of her way to make our situation understandable and has eased our minds. You are very blessed to have her in your company. We are very grateful to have her help*** us. Thank you
Johnny B 12/22/2020
Kendrick is an Incredible and caring employee, I appreciate his help and thank him so much. He was a big help to me and was very patient and explained everything clearly. You have a great employee. Thank you so much for everything ******
Sheryl H 10/06/2020
Great company! I was extremely skeptical at first, but they have proved to be a fantastic company! I waited until after settling several accounts to leave my review so it would be based on performance. They took care of contact with my creditors, the legal aspects of it as well as communication so I never needed to answer a collection call. Anything I received in the mail was uploaded to my account so they could jump right on it. I would recommend this company to anyone needing this service. And bonus…EVERYONE I have talked to has been very pleasant and helpful!
Tone J 12/08/2019
Although I was not able to use their services, I still like to recommend them. After joining them, I realized that due to my financial situation that what they offer would not be suitable for what I need at this time. When I called customer support, they were so helpful. What I appreciated, even more, was the honesty and the useful advice that I received from them. Since I seem to run into dishonest customer support quite often, I like to leave this positive review for this company because I think they deserve it.
How to cancel Credit Associates?
Yes, you can cancel the debt settlement program at any time. The company lets clients drop out of the program at any time without having to pay a fee. If you decide to cancel, you will have to pay any fees or payments that are due for services that have already been performed. It’s important to remember that if you quit the program, any settlements with creditors that haven’t been worked out yet may be affected, and you may have to pay the rest of your debts.
Also, if you cancel the program, missed or late payments may be reported to credit bureaus, which could hurt your credit score in a big way. If you’re considering canceling the program, it’s recommended that you discuss your options with a representative to better understand the potential consequences and determine the best course of action based on your individual financial situation.
Is Credit Associates legit?
Credit Associates is a legitimate company that has helped tens of thousands of people get out of debt. The Better Business Bureau has given the company an A+ rating, and many happy customers have given the company good reviews.
Is Credit Associates the best debt consolidation company?
Credit Associates is a reputable debt settlement company that can help clients reduce their overall debt load and achieve financial freedom. The company’s debt settlement program is tailored to each client’s specific needs and is made to be both affordable and stress-free.
While using Credit Associates’ debt settlement program may have a negative impact on your credit score, it can also provide a clear path toward becoming debt-free. If you’re struggling with debt and looking for a way to achieve financial freedom, Credit Associates may be able to help.