GRT Financial is a licensed debt settlement company and a viable option if you are looking for something other than bankruptcy or debt consolidation. They offer a free initial consultation to assess your income and debts to offer you a program that aims to reduce the total amount you owe.
In this review, we take an in-depth look at basic details of GRT Financial, how the company works, and how it can benefit your financial situation.
- Transparent about their fees on the website
- You don’t have to pay unless your debts are settled
- You are required to stop paying creditors making your credit score drop
- Customer support has been reported to not be that consistent
What is GRT Financial?
GRT Financial Inc is a debt relief company that helps individuals and families who are struggling with high debt levels. It is a process designed to help people manage their debts by negotiating with creditors, helping to reduce interest rates and monthly payments, and potentially even reducing the overall debt owed. This process is usually done with the help of a financial advisor or debt mediator who can work with creditors to create an affordable payment plan. Through debt settlement, individuals and families can often find financial relief, allowing them to improve their financial health.
GRT Financial Summary
- Accreditations: GRT Financial is an accredited member of the American Fair Credit Council, Better Business Bureau, Consumer Affairs, International Association of Professional Debt Arbitrators.
- Consultation: A free initial consultation can be arranged by phone or online.
- Costs: Their fees start at 20% of the enrolled debt.
- Customer Service: Phone and email.
- Debts accepted: Most unsecured debt including consumer finance loans, credit cards, store cards, and payday loans. A minimum debt of $10,000 to qualify.
- Free resources: None.
- Restrictions: Not available in all states.
- Services: Debt settlement via direct negotiation.
- Trust ratings: A+ BBB rating and 9.0 Trustpilot score.
- Turnaround time: 24 to 60 months.
How does GRT Financial work?
Debt negotiation, also known as debt settlement or debt relief, is a process in which debtors and creditors come to an agreement to reduce the amount of debt owed. This agreement is a one-time lump sum payment that is usually lower than what is owed. The debtor pays the reduced amount and the creditor accepts it in full as payment in full of the debt.
GRT Financial is a debt settlement company focused on working with its clients to negotiate on their behalf with creditors. They provide a free consultation to determine the best approach to debt negotiation. During this process, GRT Financial evaluates the client’s income, debt, and other financial information to create a customized plan.
After the consultation, GRT Financial will contact the creditors and negotiate a reduced amount of debt. The creditors agree to accept the reduced amount as payment in full and the debt is considered settled. GRT Financial will also provide guidance on how to manage the debt going forward and how to build credit.
GRT Financial can be a great tool for those who are struggling to manage their credit card debt by providing cost effective representation to clients seeking to negotiate a settlement. It can help make debt more manageable and help improve credit scores. It is important to remember that debt negotiation is not a guaranteed solution and that creditors may not always agree to a reduced amount. It is also important to understand that debt settlement can have a negative effect on credit scores and is often used only as a last resort.
How much does it cost to settle debt with GRT Financial?
GRT Financial provides an array of services to help individuals and businesses with debt settlement. The cost of settling debt with GRT Financial depends on a variety of factors, such as the amount of debt, the type of debt, and the creditor. Generally, the cost of debt settlement ranges anywhere from 20% of the total enrolled debt. GRT Financial’s team of experienced professionals will work with you to review your financial situation and create a customized debt settlement plan that fits your needs.
Benefits of settling your debt with GRT Financial
One of the benefits of debt settlement is that it can help you avoid bankruptcy. Bankruptcy can have serious long-term consequences, such as damaging your credit score and making it difficult to get approved for credit in the future. With debt settlement, you can avoid the long-term consequences of bankruptcy and start to rebuild your credit score.
Another benefit of debt settlement is that it can help you avoid harassing phone calls and letters from creditors. A debt mediator can work with your creditors to help you avoid the stress and anxiety that comes with dealing with creditors.
Using debt settlement can be a great way to save money and pay off your debt faster. With the help of a professional debt mediator, you can reduce your debt amount and interest rates, and avoid the long-term consequences of bankruptcy. If you’re looking for a way to save money and pay off your debt, debt settlement could be the answer.
How to sign up with GRT Financial
Signing up with GRT Financial is an easy and convenient process. First, you will need to fill out the online application form and provide some basic information about yourself, including your contact information, income, and debts.
Once the application is submitted and if GRT Financial is capable of addressing the debt in the state where you live, a debt mediator will review it and contact you to discuss the plan and timeline for debt resolution.
After all the details have been discussed and agreed upon, you can sign up and start the process of debt settlement. You will be provided with resources and guidance throughout the process, so you can feel confident that your debt problems are being resolved in the best way possible.
Debt settlement vs. Loan referral
At GRT Financial, you will have the chance to discuss debt relief during your consultation. If your credit score allows it, you can also look into their loan referral program as a means of settling your debts quickly.
If you choose to go with debt settlement, you will give permission for the company to communicate with your creditors and request a reduction of unsecured debt. If this is successful, you will set up a non-interest bank account that is insured by the FDIC. Every month, you will put one payment into this account for GRT Financial.
If you are in a dire financial situation and are unable to afford your payments, do not make any rash decisions. It is best to seek professional help if you can, but you should also make sure to research your options thoroughly, including filing for bankruptcy.
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GRT Financial, a company which has been around for only 5 years in the debt settlement industry, offers a speedy and realistic solution for those looking to regain control of their finances through traditional debt settlement. Consumer reviews are generally positive, and the potential to save up to 20% of the amount owed can make their services especially worthwhile in dire circumstances.