When debt becomes too much to bear, DebtBlue is a debt settlement company that can help people out of their financial troubles. In this article, we will be taking a closer look at DebtBlue’s services, benefits, and potential downsides, as well as answering some of the most frequently asked questions about the business.
- BBB A+ Rating & Accredited
- $300 Million Debt Settled
- $8,000 Minimum Debt
- 25th best financial firm, USA (INC Magazine)
- Minimum Debt $7,500
- $ 3 Billion Plus Debt Resolved
DebtBlue Pros and Cons
Pros
- This service offers a variety of ways to reduce debt, including debt consolidation, debt resolution, debt settlement, credit counseling, and bankruptcy assistance.
- Those who enroll in the debt resolution program and stay until all their debts are cleared can potentially save up to 50%, prior to fees being taken into account, or 30% when fees are included.
- It provides tailored debt solutions for each person’s unique financial situation.
- The company has garnered a superb standing with the Better Business Bureau (BBB).
- They offer a free consultation and do not ask for any upfront payments.
Cons
- Engaging in debt settlement can negatively impact your credit rating.
- Not all forms of debt can be included in a debt settlement program.
- The price of their services is based on the place of residence and the amount of debt incurred.
DebtBlue’s Notable Services
Debt Resolution: DebtBlue helps their clients cope with their money problems by talking to creditors to decrease the amount they owe. They communicate with the creditors on their customer’s behalf in order to reduce the amount that needs to be paid and arrange a payment plan.
Debt Consolidation: DebtBlue assists people in lightening the load of their debt by consolidating all of their existing debts into one payment. They develop a custom-made payment plan that fits their financial situation to make it easier to manage their debt.
Debt Settlement: This program helps customers reduce their overall debt by talking to creditors and setting up a payment plan for less than the full amount owed.
Credit Counseling: The aim of this program is to help people improve their credit standing and overall financial health. It provides people with advice and assistance on managing their finances and boosting their credit ratings.
Bankruptcy: DebtBlue has created a bankruptcy program to help customers make the decision as to whether bankruptcy is the right choice for them, and provide guidance as they go through the filing process. They work closely with each individual to ensure that their customers are on the right path.
If you’re struggling with credit card payments or other forms of debt, DebtBlue is a great company to turn to. Their financial experts are dedicated to helping people and families free themselves from debt and improve their fiscal situation. They offer a DebtBlue Program that includes a review of your account, and making contact with credit card companies and department stores. Their team of finance specialists works hard to reduce the amount of credit you owe, meaning you will owe less than you initially did.
What is DebtBlue?
DebtBlue is a company that provides a debt resolution program to help those with debt. They work with creditors on behalf of the client to form a repayment plan that is suitable for the client’s budget, allowing them to be debt-free in two years. Those who follow through with the program until all their debt is paid off can expect to save fifty percent of the original amount without fees, or thirty percent including fees.
DebtBlue helps customers by merging their numerous debts into a single, easy-to-manage payment every month. They create a customized plan that fits within their budget to make debt control simpler.
In addition to debt resolution and consolidation, the company also offers debt settlement, credit guidance, and bankruptcy procedures. Debt settlement is an approach to debt relief that enables customers to pay back their debt at a reduced cost. Credit counseling is a service to help customers improve their credit score and financial position. Bankruptcy is a legal way that can help customers start afresh and eliminate certain types of debt.
This company offers a wide range of debt relief services for those who are struggling with financial obligations. Through talks with their creditors, they can come up with payment plans and reduce the total amount of debt, allowing people to gain financial freedom.
The customers of DebtBlue are well aware of the determination and commitment of the DebtBlue team, whether it’s to provide aid with unexpected medical bills, unemployment, or the final repayment of a credit card. They understand the implications that credit card debt and other types of debt can have on people’s lives and are dedicated to aiding both businesses and people in the area.
The DebtBlue team is here to make sure you can become debt-free without any hassle. They will take care of all the phone calls, conversations, and other legal issues that come up, so you don’t have to. Utilize their expertise to help yourself or someone you care about get out of debt and start saving up. Take action towards a secure financial future without hesitation – start now.
Debt Resolution Program
DebtBlue’s debt resolution plan is designed to help customers take control of their financial obligations by talking to creditors and reducing the total amount they owe. This is how it works:
- Free Consultation: Start off by setting up a free consultation. During the session, a debt management specialist will evaluate your monetary situation and determine if debt relief is the ideal option for you.
- Enrollment: DebtBlue’s debt settlement program will allow you and your debt advisor to develop a tailored debt resolution plan. This plan will coordinate with your creditors to come up with a payment plan that works for your budget and will enable you to pay off your debt in a two to four-year period.
- Monthly Payment: Upon reaching a consensus with the firm, you will be obligated to remit a set sum every month to a particular account. This money is going to be employed to repay creditors once each obligation has been fulfilled.
- Negotiation: They will contact your creditors in order to reduce the amount of money you owe. This could mean setting up a lower interest rate, removing any fees, or coming to a settlement that is less than the total amount owed.
- Settlement: When you and your creditor reach an agreement, the funds in your account will be put towards paying off the debt. This will continue until all of the debts you have enrolled in are cleared.
- Debt Resolution: Once you have satisfied all your financial obligations, you will be given a certificate demonstrating that all debt has been cleared. This can be utilized to help enhance your credit rating.
It is important to keep in mind that not every form of debt is eligible for debt settlement, and the cost could differ depending on your location and the overall amount of debt you owe. Additionally, staying dedicated to the plan and making payments on time each month are needed to improve your odds of succeeding.
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Does DebtBlue offer debt consolidation?
DebtBlue can help you simplify your finances by merging multiple debts into one easy monthly payment. This can make it easier to keep track of bills.
DebtBlue provides a debt consolidation service that merges all of an individual’s debts into one payment. They collaborate with customers to create a repayment plan that matches their financial situation, and then they take it one step further by distributing the payment to all creditors on the customer’s behalf. This means that instead of having to send multiple payments to different creditors every month, customers can just make one payment to DebtBlue.
Debt consolidation can be advantageous for individuals with different creditors and who want to make payments easier. It may also lead to a reduction in interest rates and monthly payments, making debt more controllable.
It is important to understand that debt consolidation may not be the best option for everyone, so one must consider all of their options for debt relief before making a decision. Consulting with a professional can help you determine if debt consolidation is the right decision for you, and they can guide you through the process if you decide to proceed.
How much does DebtBlue’s service cost?
Fees charged by DebtBlue vary depending on the person’s location and the amount of debt they have. This fee is usually only a small part of the total debt, and it is charged on a monthly basis.
The company charges a fee ranging from 15%-25% of the overall debt that is enrolled. Therefore, if you enroll a debt of $10,000, you will have to pay between $1,500 and $2,500 in fees.
Beginning with DebtBlue does not involve any upfront fees. Customers will not pay until their debt is taken care of and they can cancel the service at any moment without any consequences.
It is important to keep in mind that the fees you pay to a debt settlement agency are in addition to what you owe your creditors. Although they may help to lower the amount you owe in total, there is still likely to be a significant cost associated with resolving your financial obligations.
It is important to carefully consider the fees associated with their services and ensure they fit within your budget before enrolling in the program. They can provide more details regarding their fees and help you decide if spending more money is the best option for you.
Debt Settlement Program
DebtBlue offers a debt settlement program which involves working with creditors to lower the amount of debt owed by an individual. This service can be beneficial for those facing financial hardship or struggling to make payments. By settling for a lesser amount than was originally owed, clients have the potential to save money and become debt-free in a more expedient manner.
DebtBlue will work with its clients to create a tailored debt relief plan that meets their financial needs and covers all of their listed debts. Clients will make a recurring contribution to a dedicated fund and DebtBlue will utilize these funds to reach settlements with creditors. Once a deal has been reached, they will use the money in the customer’s account to pay off the debt.
It is essential to remember that not all debts are eligible for DebtBlue’s debt settlement program, and the cost may vary depending on the state of residence and the amount of debt owed. Debt settlement may also have a detrimental effect on credit scores, so it is important to consider all debt relief options carefully before deciding.
The company can provide more information about their debt relief plan and help you decide if it is the right choice for you.
What is the difference between Debt Resolution and Debt Settlement?
Debt resolution and debt settlement are two different approaches to dealing with debt, but they have several key differences.
Debt Resolution: Debt resolution is an effective way of assisting individuals who are overwhelmed with debt. It typically requires collaboration with a debt resolution firm, such as DebtBlue, to develop a plan that fits their budget and enables them to become debt-free in a predetermined duration. This procedure may include communicating with creditors to reduce interest rates, cancel fees, or even settle the debt for a lower amount than the original amount owed.
Debt Settlement: DebtBlue is a debt relief option that helps people pay off their debts for a lesser amount than what is due. Through working with this organization, customers can talk with their creditors and make a deal that involves paying the debt off with a single payment or in installments that fit their budget. This kind of debt relief often leads to a large amount of savings as the debt can be settled for less than the original balance.
When addressing debt, there are two main options: debt resolution and debt settlement. Debt resolution involves negotiating with creditors to reduce the debt amount and setting up a payment plan. Debt settlement involves negotiating with creditors to settle the debt for less than the total amount due. Both strategies can be successful in helping people pay off their debt, but it is important to research each approach before selecting the best one for you.
Is credit counseling also provided by DebtBlue?
Yes, this organization provides credit counseling to assist individuals in comprehending their credit report, setting up a budget, and devising a plan to settle their debts. The purpose of the credit counseling is to assist customers in bettering their credit ratings and financial situation.
During a credit counseling session, a credit counselor will evaluate your credit history and suggest ways to improve your credit rating. They will work with you to develop a budget that fits your needs and provide guidance on how to manage your debts. The credit counseling services are created to help DebtBlue clients take control of their finances and achieve financial stability.
It is important to understand that credit counseling is distinct from debt relief. Credit counseling can help to improve your finances and credit rating, but it does not involve any negotiations with creditors to reduce the amount owed or settle debts for less than the original debt. If you are struggling with debt, it can provide information regarding its debt relief programs and help you decide which option is best for you.
Bankruptcy Program
DebtBlue provides a bankruptcy option for people who cannot manage their finances and have already exhausted other means of paying off their debt. The bankruptcy plan works in this way:
- Free Consultation: Schedule a meeting with a bankruptcy professional for a free evaluation. During the appointment, they will analyze your financial situation and let you know if filing for bankruptcy is the best option.
- Enrollment: Once you decide to participate in the bankruptcy program, you will work with your bankruptcy expert to file for bankruptcy. They will provide guidance and help through the whole bankruptcy process.
- Bankruptcy Filing: DebtBlue can assist you in preparing to file for bankruptcy with the court. This encompasses providing information regarding your debts, assets, and earnings.
- Bankruptcy Plan: After your bankruptcy documents have been filed, they will work with you to establish a bankruptcy plan that outlines how your obligations will be handled. This could include selling possessions to pay off debts or constructing a payment scheme that suits your finances.
- Credit Counseling: Before your bankruptcy is canceled, it is necessary for you to complete a credit counseling course. DebtBlue can provide the program and help you meet this requirement.
- Bankruptcy Discharge: Once your bankruptcy plan has been accepted by the court, your debts will be wiped out, which will give you a fresh start. The court can also provide guidance to help you rebuild your credit score and improve your financial situation.
It is important to remember that filing for bankruptcy should only be done as a last resort, as it can have a severe impact on your credit score and finances. DebtBlue can provide more details about their bankruptcy services and help you decide if this is the right option for you.
What is DebtBlue’s debt resolution success rate?
DebtBlue has established a strong reputation and a high rate of success when it comes to managing debt for their clients. According to them, if people remain dedicated to the debt resolution plan offered by DebtBlue, they can save up to half of their debt before any fees are added, or around 30% including fees, within two to four years.
DebtBlue can provide assistance with managing debt, however, not all debt types are accepted and the success rate is dependent on the person’s financial position and the total amount that is owed. Different debt relief choices, such as debt settlement or bankruptcy, might have varying success rates.
Despite this, Debt Blue has had customers who have efficiently sorted out their debts with the aid of their services and have expressed satisfaction. The company is not accredited by the Better Business Bureau (BBB) but has received an A- rating, indicating a fair degree of consumer approval with their business response.
DebtBlue is recognized for its proficiency in helping people to get rid of their debt and become financially sound, although the outcomes could vary depending on someone’s fiscal situation.
DebtBlue BBB Reviews
DebtBlue earned an A- rating from the Better Business Bureau, which implies that they are good at responding to reviews and complaints. However, they have not been accredited by the BBB.
Currently, DebtBlue has a total of 200 customer reviews (positive and negative) on the BBB website. This is significantly fewer reviews than other debt settlement services, which could make it hard to determine its overall status.
It is worth noting that 46 complaints have been reported against the company on the BBB website. Even though this amount is not particularly large, it is still necessary to take into account these cpomplaints when evaluating the company’s standing.
Here are some DebtBlue reviews:
I contacted this company on Saturday, December 3 for trying to get a loan. Once the application was filled out the only option was for me to do debt consolidation. First. I received an offer from this company via mail for a loan, while on the phone with the company (over an hour), they took the required information and sent an email with a link, stating that the only option that would show up would be the DebtBlue option. I find it that funny the same company that offered the loan. The option was their debt consolidation loan. Which I did agree to at the time. While on the phone with Kathy, I was informed to sign four different contracts while on the phone with them. One is a 28-page document. Really, they are going to force people to sign a document t that is 28 pages while on the phone for an hour. Without thinking, I signed. After hanging up, I began reading the 28-page document, While on the phone with Kathy, I told her I was hesitant on doing this because I did not want bad credit., After starting to read the 28-page document, I then started not agreeing with anything. First, 95% of the document isn’t filled out with correct information. In the section where it lists the reason for contact and for the loan, Kathy kept referring to me as a SHE. Throughout the whole section, it says SHE, I was on the phone with this woman for over an hour, and how she can refer to me as a SHE is beyond me. Once I read all that, I then emailed here stating I will not be following through with this and that I have items in the house I can sell to take care of my debt problems. I also told her to CANCEL immediately. This is still the same day. Saturday. After our initial conversation, she said a ***** would be reaching out to me. He never did. I have sent them EMAILS stating I am not going through with this because the information you provided on my contracts was NOT CORRECT!
Avoid Debt Blue!! Avoid Debt Blue!! Avoid Debt Blue!! Debt Blue has extracted $434.39/mo from my account for 8 months and the total amount of that is $3,475.12. My account in escrow with Debt Blue only amounts to $1,390.37 currently. That’s over $2k missing. All three of my creditor accounts with Debt Blue show only THREE $100 PAYMENTS made to ONE of my creditors in that time. Looking at the list of transactions, DebtBlue has paid themselves a nice $1200 DSRP fee for basically doing nothing. I have 15 months left of this program and I’ve seen ZERO meaningful impact on my debt. I want out of this godforsaken contract with this organization. I have never felt so hoodwinked and taken advantage of by a business as I have Debt Blue. Previous complaints by others about DBs’ lack of communication are utterly true in my experience and frankly, this usurious “business” is just another debt collection agency that you PAY FOR through the nose. I’m all about a class action lawsuit. Let me know how I can access such a thing. At this point, I wish I had just stopped paying my credit cards. I did exactly that through this process only now I’m “owned” by some Longhorn lovin’ Texas extraction company that doesn’t deal with oil, it extracts human economic value. Avoid DebtBlue!! Avoid Debt Blue!!
Is DebtBlue a legit debt relief company?
DebtBlue has received recognition from important industry institutions as well as glowing feedback from its customers, but there have also been some negative reviews from dissatisfied clients.
Consider these factors when evaluating the trustworthiness of DebtBlue:
- Accreditation: Though DebtBlue is not officially certified by the Better Business Bureau (BBB), they have still managed to obtain an A- rating. This implies that while they have encountered some issues, they have been able to effectively address them in a satisfactory manner.
- Licensing: DebtBlue has been given permission to provide debt relief services in multiple states, proving that they have met the appropriate legal and regulatory criteria.
- Transparency: DebtBlue is transparent about the services, rates, and strategies for debt management. They provide complimentary assessments for those intrigued, and clarify the expenses and potential risks associated with each debt solution.
- Industry Recognition: DDebtBlue has earned recognition from multiple expert organizations, such as the American Fair Credit Council and the International Association of Professional Debt Arbitrators.
- Client Reviews: Opinions on DebtBlue have been mixed, with some people commending the service while others have complained about the expensive costs and lack of communication
Opinions are divided regarding DebtBlue, yet it is certified and endorsed by industry organizations. It is essential to go through all available data and partner with a reliable company that can offer tailored advice and help throughout the debt relief process.
FAQs
How long does it take to resolve debt with DebtBlue?
The time it takes for DebtBlue to help with debt resolution is dependent on the financial condition of the individual and the amount of debt they owe. Usually, the process is completed within 2-4 years, although it could take longer depending on the progress made and the amount of debt.
How does DebtBlue negotiate with creditors to reduce the total amount?
DebtBlue works with their clients to communicate with creditors and lower the total debt amount. With their knowledge and relations with creditors, they can reach a favorable resolution that works for both parties. This can be a single payment or a plan that meets the needs of all involved.
What happens to my credit score if I enroll in DebtBlue’s debt resolution program?
Enrolling with DebtBlue’s debt resolution program can have a negative effect on your credit score. One of the debt assistance options offered by DebtBlue, debt settlement, can show up on your credit report and adversely affect your credit score.
Can I still use my credit cards while enrolled in DebtBlue’s debt resolution program?
DebtBlue recommends that those who are enrolled in their debt resolution program do not use credit cards as it could slow down the process of paying off debts and could lead to additional fees and interest charges.
How much does DebtBlue’s debt resolution program cost?
The cost of DebtBlue’s debt settlement program varies depending on the person’s financial situation and the amount of debt they are carrying. DebtBlue typically charges a percentage of the total debt enrolled, usually between 15% and 25%.
Can I choose which debts to enroll in DebtBlue’s debt resolution program?
DebtBlue provides customers with the choice of which debts to incorporate in their debt resolution plan. Although, some debts might not be allowed, so it is vital to investigate all possible debt relief alternatives prior to settling on a decision.
Does DebtBlue have a money-back guarantee?
DebtBlue does not offer any form of reimbursement for its debt relief services.
How long has DebtBlue been operational?
DebtBlue has been in business since 2004.
Is DebtBlue accredited?
DebtBlue does not have accreditation from the Better Business Bureau (BBB), however, the BBB does have an A- rating for the company. Additionally, DebtBlue is associated with the American Fair Credit Council (AFCC) and is a member of the International Association of Professional Debt Arbitrators (IAPDA).
Can DebtBlue assist with student loan debt?
DebtBlue does not offer direct student loan debt relief, but they may be able to provide information and advice on other debt-relief strategies which may be able to help those with student loan debt.
Conclusion
In conclusion, DebtBlue is an organization that specializes in debt relief and offers a variety of debt solutions, including debt consolidation, debt settlement, credit counseling, and bankruptcy. Numerous customers have been able to resolve their debt issues and achieve financial freedom with the assistance of this company.
The BBB has given DebtBlue a rating of A-, though they are not officially certified by the BBB and some customers have lodged complaints. Additionally, the costs for using DebtBlue’s services are quite high.
It is essential to consider individual circumstances when assessing if DebtBlue is the correct decision. Every possible option should be evaluated and expert advice should be sought out before making a final decision on debt resolution.
