The strain of owing money can be overwhelming when there seems to be no way out. DebtBlue is a debt settlement company aiming to help customers pay off their debt and improve their financial state. In this article, we will discuss DebtBlue and evaluate their services, pros, cons, and answer some frequently asked questions.
Pros & Cons
- It offers several debt relief possibilities, including debt resolution, debt consolidation, debt settlement, assistance in handling credit, and bankruptcy.
- For those who join the debt resolution scheme and stay until all their liabilities are taken care of, they could potentially save up to 50% of their debts (before fees) or 30% (fees included).
- It develops tailored debt solutions for each person’s unique financial situation.
- The company has gained a superb standing with the Better Business Bureau (BBB).
- They offer a free consultation and do not ask for any upfront payments.
- Debt settlement can have a negative impact on your credit rating.
- Not every form of debt can be taken into account when creating a debt resolution plan.
- The price of its services is based on where you live and how much debt you have.
Services provided by DebtBlue
Debt Resolution: DebtBlue aids their clients by conversing with creditors to decrease the amount owed. They negotiate on behalf of the customers to reduce the debt and establish a payment plan.
Debt Consolidation: DebtBlue assists people in alleviating their debt by consolidating all of their existing debts into one payment. They craft a customized payment plan that fits into their budget in order to make it simpler for their customers to take care of their debts.
Debt Settlement: This program strives to help customers settle their debt for less than the full amount. It attempts to talk with creditors to reduce the total amount owed and create a payment schedule.
Credit Counseling: This program is designed to help individuals improve their credit scores and financial situation. It provides clients with the knowledge and guidance needed to manage their finances and increase their credit scores.
Bankruptcy: Through its bankruptcy program, DebtBlue works with customers to determine if bankruptcy is the right decision and offers assistance during the filing process so they can start fresh.
If you’re struggling with credit card debt or credit accounts, DebtBlue is a great company to turn to. Their finance experts are devoted to helping people and families out of debt and improving their financial situation. They have a DebtBlue Program which includes inspecting your account and responding to credit card companies and department store bills. Their team of finance specialists strives to reduce the principal balance of your credit, which means you’ll owe less than you initially did.
What is DebtBlue?
DebtBlue is a debt settlement company that provides a much sought-after debt resolution program. This program helps clients work with creditors to come up with a practical repayment plan that will make them debt-free within two years. Those who stick to the program until their debts are cleared can look forward to saving around half the amount before fees, or thirty percent including fees.
DebtBlue helps customers by combining all of their debts into a single monthly bill, making it simpler to stay on top of. They craft an installment plan that works with their financial plan in order to organize debt more efficiently.
In addition to debt resolution and consolidation, the firm offers debt settlement, credit advice, and bankruptcy options. Debt settlement is an approach to debt relief that permits consumers to settle their debt for a lesser amount. Credit counseling is a service to assist customers in improving their credit score and financial position. Bankruptcy is a lawful way that can aid customers to start over and erase certain kinds of debt.
This organization offers many strategies to help those struggling with debt. By talking with creditors to design repayment plans and reduce the overall debt, people can achieve financial independence and pay off their debt completely.
DebtBlue clients have experienced the dedication of the DebtBlue team to aid them with unexpected medical bills, job loss, and the last payment for a credit card. They are aware of the effects debt can have on people and are committed to helping both local businesses and individuals.
DebtBlue is here to help you achieve debt-free status. They will handle all the phone calls, conversations, and legal issues that may arise, so you don’t have to worry. Take advantage of their expertise to free yourself or someone close to you from debts and start saving. Don’t procrastinate – take the first step towards a financially stable future today.
Debt Resolution Program: How does it work?
DebtBlue has a debt resolution program designed to help customers take care of their debts. It works by negotiating with creditors to reduce the total amount due. Here’s a rundown:
- Free Consultation: At the start, set up a consultation that is without cost. During the consultation, a specialist in debt management will analyze your financial situation and determine if debt relief is the most appropriate option for you.
- Enrollment: By signing up for DebtBlue’s debt settlement program, you and your financial advisor will work together to create a tailored debt management plan. This plan will work with your creditors to set up a payment plan that fits your budget and allows you to pay off your debt in 2 to 4 years.
- Monthly Payment: Once a deal has been struck between you and the business regarding payments, you will be responsible for transferring a regular sum of money to a specific account. The funds will be allocated to the repayment of your creditors as each debt is cleared.
- Negotiation: They will converse with your creditors to reduce the amount of debt you owe. This could include negotiating a lower interest rate, cancelling fees, or settling for an amount that is lower than the total amount owed.
- Settlement: Once you reach a settlement with your creditor, the funds in your account will be utilized to cover the debt until all the enrolled debts are paid off.
- Debt Resolution: Once you have settled all your financial obligations, you will be given a proof of payment which can be used to raise your credit rating.
It is important to be aware that not all debts are eligible for debt settlement programs, and the cost may depend on your location and the amount of debt you owe. To be successful, you must stay committed to the program and make payments on time each month.
Does DebtBlue offer debt consolidation?
DebtBlue can help simplify your finances by consolidating your debts into one easy to manage monthly payment. This can make it easier to keep up with your bills.
DebtBlue offers an assistance service which helps customers to amalgamate all their debts into one single payment. They will cooperate with each person to create a payment plan that fits their financial situation and covers all of their outstanding debts. Instead of having to make multiple payments each month, customers can just make one payment and DebtBlue will take care of distributing the money to their lenders.
Debt consolidation can be advantageous for individuals with multiple loans from various creditors who would like to make their payments easier. It may be possible to lower interest rates and monthly payments, making debt more manageable.
It is essential to remember that debt consolidation might not be the best option for everyone, so one should consider all of their debt relief options before making a final choice. A professional can help you decide if debt consolidation is the right option for you and guide you through the process if you decide to move forward.
What are the fees associated with DebtBlue?
DebtBlue has pricing that can vary depending on the location of the customer and the total amount of debt they owe. Generally, the fees are a portion of the overall debt, and they are charged every month.
The organization has fees beginning at 15% and going up to 25% of the debt that is enrolled. This implies that if $10,000 of debt is enrolled, you will be paying between $1,500 and $2,500 in fees.
DebtBlue can be used free of charge, and no fees are necessary to begin. Clients are not obligated to pay anything until their debt is settled and they can cancel the service at any time with no penalties.
It is important to remember that these fees are distinct from the amount owed to creditors. Even though they can help lower the overall debt by negotiating and settling, there is still likely to be a considerable cost associated with taking care of your financial responsibilities.
It is important to carefully consider the fees associated with their services and make sure they fit within your budget before signing up for the program. They can provide further details regarding their fees and help you determine if spending more money is the best option for you.
Debt Settlement Program: How does it work?
DebtBlue provides a debt settlement plan that involves talking to creditors to decrease the amount owed by a customer. This could be advantageous for people who are having problems making payments or are facing financial hardship. By settling the debt for less than what was initially owed, customers can save money and become debt-free faster.
DebtBlue will team up with customers to create a tailored debt relief solution that is in line with their financial strategy and includes all of their listed debts. Customers will make regular payments into a designated fund and DebtBlue will use the money to bargain with creditors. Once an agreement has been reached, the funds in the customer’s account will be used to pay off the debt.
It is important to note that not all debts can be included in DebtBlue’s debt settlement program and the fees may vary depending on the state of residence and the total debt amount. Debt settlement may also have a negative impact on credit scores, so it is important to carefully consider all debt relief options before making a decision.
The company can provide extra information regarding their debt settlement plan and help in determining if it is the right option for you.
Debt resolution vs. Debt settlement: Key differences
Debt resolution and debt settlement are both methods for dealing with debt, but they have several differences.
Debt Resolution: Debt resolution is an approach to aiding those in debt by talking with their creditors to reduce the amount owed. It usually includes collaborating with a debt settlement organization, such as DebtBlue, to build a repayment plan that is suitable for the person’s resources and helps them to become debt-free in an arranged period. This can include communicating with creditors to minimize interest rates, cancel charges, or even settle the debt for an amount lower than the original balance.
Debt Settlement: Debt settlement is a way of relieving debt that permits people to clear their debt for less than what is owed. Individuals can collaborate with DebtBlue to come to an agreement with creditors to settle the debt in one payment or in a payment plan that suits their financial situation. This type of debt relief can often save customers a lot of money since the amount paid back is less than the original amount.
When addressing debt, there are two main approaches: debt resolution and debt settlement. Debt resolution strives to reduce the amount of debt owed and set up a payment scheme. Whereas, debt settlement aims to pay off the debt for a lesser amount than what is due. Both techniques can be effective in aiding people to become debt-free, but it is imperative to evaluate all options before selecting the most suitable one.
Is credit counseling offered by DebtBlue?
This business provides credit counseling to their customers, aiding them to comprehend their credit history, construct a budget, and devise an approach to pay off their debts. The main aim of the credit counseling is to help clients boost their credit rating and financial standing.
At a credit counseling session, the counselor will go over your credit report and supply methods to enhance your credit. They will collaborate with you to make a budget that is suited to your personal requirements, and also give guidance on how to tackle debt. These services are meant to give people the power to take charge of their finances and become financially stable.
It is essential to recognize that credit counseling is different from debt relief. Credit counseling may be advantageous in improving your fiscal state and credit rating, but does not involve any discussions with creditors to lower the debt or resolve debts for less than the full amount. If you are struggling with debt, it can offer data concerning its debt relief options and aid you in deciding the best plan for your situation.
Bankruptcy Program: How does it work?
DebtBlue offers a bankruptcy service for individuals unable to stay on top of their money matters and who have tried all other options for getting out of debt. This is how their bankruptcy plan works:
DebtBlue provides a bankruptcy aid solution to those who cannot keep up with their financial obligations and have used up all other possible means in order to eradicate debt. This is their method of bankruptcy:
- Free Consultation: Schedule a session with a bankruptcy expert for a free consultation. At this meeting, the expert will review your financial situation and inform you if declaring bankruptcy is the optimal decision.
- Enrollment: If you decide to participate in the bankruptcy program, you will work together with a bankruptcy expert to file for bankruptcy. They will provide counsel and help with the entire bankruptcy process.
- Bankruptcy Filing: DebtBlue can help you prepare for filing for bankruptcy in court by providing information about your debts, assets, and earnings.
- Bankruptcy Plan: Once you have gone through the process of filing for bankruptcy, the relevant parties will work with you to create a plan outlining how your debts will be handled. This could involve selling off belongings to pay off what you owe or setting up a payment plan that fits into your budget.
- Credit Counseling: Before your bankruptcy can be canceled, you must complete a credit counseling course. DebtBlue can provide the course and help you fulfill this necessity.
- Bankruptcy Discharge: Once the court has authorized your bankruptcy filing, your debts will be cleared, enabling you to start over. 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 considered as a final option, because it can significantly affect your credit score and finances. DebtBlue has additional information about their bankruptcy services and can help you decide if bankruptcy is the right decision for you.
What is DebtBlue’s success rate?
DebtBlue is highly successful and has an excellent reputation in helping its customers with their debt. According to the company, if customers commit to their debt resolution plan, they can save up to 50% of their debt without fees in two years, or 30% with fees.
DebtBlue’s services can assist with reducing debt, but not every type of debt qualifies and the achievement rate relies upon the individual’s monetary circumstance and the amount due. Different debt relief alternatives, for example, debt settlement or bankruptcy, may have distinctive achievement rates.
Despite this, DebtBlue has had customers who have successfully navigated their debts with their help, and have had positive reviews. The business has not yet been certified by the BBB, though they have obtained an A- rating, suggesting a reasonable level of customer satisfaction.
Generally, the outcome of DebtBlue’s services can vary depending on the person’s financial state, but they have a solid standing for helping customers manage their debts and gain financial freedom.
DebtBlue BBB Rating and Reviews
DebtBlue has been rated highly by the Better Business Bureau, receiving an A- rating. It should be noted that DebtBlue is not accredited by the BBB, however.
Currently, the BBB website states that DebtBlue has received a total of 200 reviews from customers, with a mix of both positive and negative reviews. However, this number is much lower than other debt settlement services, which could make it difficult to form a definitive opinion on their overall performance and business response.
It is important to take into account the 46 complaints that have been registered on the BBB website concerning the company. Even though this amount is not very high, it is still essential to consider these issues 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 both compliments and criticisms in the field of debt relief services. Customers have expressed their approval and it has been accepted by influential industry organizations; nonetheless, there have been some disgruntled clients who have lodged complaints.
When determining the dependability of DebtBlue, these are some things to consider:
- Accreditation: Though DebtBlue is not officially recognized by the BBB, they have still managed to obtain an A- rating. This implies that some complaints were lodged against them, yet they have managed to satisfy them satisfactorily.
- Licensing: DebtBlue has been given the go ahead to provide debt relief services in multiple states, indicating that the company has complied with the relevant legal and regulatory specifications.
- Transparency: DebtBlue is transparent regarding their services, fees, and methods for debt reduction. They offer complimentary consultations to those interested, and discuss the expenses and potential risks associated with each debt relief option.
- Industry Recognition: DebtBlue has earned praise from multiple professional organizations, such as the American Fair Credit Council and the International Association of Professional Debt Arbitrators.
- Client Reviews: Opinions about DebtBlue have been mixed, with some expressing satisfaction and others voicing their displeasure at the costly charges and lack of communication.
Though views on DebtBlue are divided, it is recognized and approved by professional bodies. It is important to look at all the available information and to work with a reliable firm that can provide tailored advice and help during debt relief.
How long does it take to resolve debt with DebtBlue?
The length of time that it takes for DebtBlue to resolve debt depends on the customer’s financial stability and the amount of money they owe. Generally, the debt resolution plan with DebtBlue can take between two to four years, but this could be different depending on how much progress the individual makes and the amount of debt involved.
How does DebtBlue negotiate with creditors to reduce the total amount?
DebtBlue assists their clients in negotiating with creditors to reduce their debt. Utilizing their know-how and contacts with creditors, they can reach an agreement that is beneficial for all parties involved. This could be a single payment or a plan that meets the needs of both sides.
What happens to my credit score if I enroll in DebtBlue’s debt resolution program?
Joining DebtBlue’s debt resolution plan can be detrimental to your credit score. One of the debt relief options offered by DebtBlue, Debt Agreement, can appear on your credit report and hurt your credit rating.
Can I still use my credit cards while enrolled in DebtBlue’s debt resolution program?
DebtBlue’s debt resolution program participants should avoid using credit cards as it can hinder payment of debts and lead to extra charges and interest charges.
How much does DebtBlue’s debt resolution program cost?
The cost of DebtBlue’s debt relief program varies depending on the individual’s financial situation and the amount of debt they owe. DebtBlue charges a percentage of the enrolled debt amount as payment for their services, usually between 15-25% of the total debt.
Can I choose which debts to enroll?
DebtBlue offers clients the chance to pick which debts to be included in their debt resolution program. Nonetheless, some debts may not be included, so it is essential to look into all available debt relief options prior to making a decision.
Does DebtBlue offer a money-back guarantee?
DebtBlue does not offer any type of reimbursement for the debt relief services.
How long has DebtBlue been in business?
DebtBlue has been in business since 2004.
Is DebtBlue an accredited company?
Although not accredited by the BBB, DebtBlue has been given an A- rating from the Better Business Bureau. Furthermore, the company is linked to the American Fair Credit Council and is a part of the International Association of Professional Debt Arbitrators.
Can DebtBlue resolve student loan debt?
DebtBlue does not offer services to assist with student loan debt specifically, however they may be able to guide people to alternative solutions that could be beneficial in regards to managing their student loan debt.
Is DebtBlue legit? Final thoughts
In conclusion, DebtBlue is a debt relief service that offers a variety of debt management alternatives, like debt consolidation, debt settlement, credit counseling, and bankruptcy. Many individuals have been successful in getting rid of their financial obligations and obtaining monetary security with the aid of the company.
Despite not being accredited by the Better Business Bureau and receiving some customer complaints, DebtBlue has still been awarded an A- rating by the BBB. Unfortunately, the company’s services come with a high price tag.
It is essential to consider individual circumstances before determining if DebtBlue is the best solution. All alternatives should be analyzed and expert advice should be obtained before settling on a debt solution.
DebtBlue is a debt relief service that offers a variety of debt management alternatives, like debt consolidation, debt settlement, credit counseling, and bankruptcy. Many individuals have been successful in getting rid of their financial obligations and obtaining monetary security with the aid of the company. Despite not being accredited by the Better Business Bureau and receiving some customer complaints, DebtBlue has still been awarded an A- rating by the BBB. Unfortunately, the company’s services come with a high price tag.