In this review, we will objectively examine the TurboDebt BBB rating and reviews. Our goal is to provide you with an unbiased assessment of their services. TurboDebt is a debt relief company that was founded in 1998. This blog will provide an overview of this company, its services, and its mission and values. We will also discuss the BBB rating system, TurboDebt current rating, and the factors that contribute to their rating.
- BBB A+ Rating & Accredited
- $300 Million Debt Settled
- $8,000 Minimum Debt
How Does TurboDebt Work?
Clients who are able to stay with the program and get all their debt settled realize approximate savings of 46% before fees, or 25% including our fees, over 24 to 48 months. All claims are based on enrolled debts. Not all debts are eligible for enrollment. Not all clients complete their program for various reasons, including their ability to save sufficient funds. Estimates based on prior results, which will vary based on specific circumstances.
They do not guarantee that your debts will be lowered by a specific amount or percentage or that you will be debt-free within a specific period of time. They do not assume consumer debt, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice or credit repair services.
BBB Rating & Reviews for TurboDebt
The Better Business Bureau (BBB) is a non-profit organization that aims to promote marketplace trust by providing consumers with information they need to make informed decisions. The BBB rates businesses on a scale from A+ to F, based on factors like the business’s history, customer complaints, and response to complaints. TurboDebt is not accredited by them and here’s some complaints of the company on the website:
Reviews are an important factor to consider when choosing a debt relief company. They provide insights into the experiences that other people have had with the company, which can help you make an informed decision. TurboDebt has only 2 customer reviews and 1 complaint on the BBB website, with an average rating of 2 out of 5.
What Do These Ratings Mean?
An A+ BBB rating coupled with strong customer reviews indicates that TurboDebt is a reputable company in the debt relief industry. Their high rating reflects their commitment to ethical business practices and customer satisfaction.
However, it’s important to note that while these ratings and reviews provide valuable insight into the company’s operations, they should not be the sole factor in deciding whether to use TurboDebt’s services. It’s crucial to conduct thorough research, consider your unique financial situation, and consult with a financial advisor before making any decisions.
What Is Debt Settlement?
Debt settlement is a process where an individual negotiates with their creditors to pay off a portion of the debt they owe in exchange for the creditor forgiving the remaining balance. This can be a helpful option for those who are struggling to make their monthly payments and are facing the possibility of default or bankruptcy.
Debt settlement typically involves working with a debt settlement company or a lawyer who will negotiate with creditors on behalf of the individual. The settlement usually involves a lump-sum payment or a series of payments over a period of time. While debt settlement can provide relief from overwhelming debt, it can also have negative consequences such as a negative impact on credit scores and potential tax implications.
TurboDebt BBB Rating And Reviews: Conclusion
TurboDebt is a company that specializes in debt settlement and can assess your finances to find a debt relief program that suits your needs. While it can be helpful if you’re having difficulty managing your debts, debt settlement may not be the best choice for everyone. TurboDebt doesn’t have a BBB rating, and only 2 customer reviews and 1 complaint on their website. It is important to understand the fees, the impact on your credit score, and the necessary savings to make your payments as agreed.
FAQs
What is TurboDebt’s current BBB rating?
TurboDebt doesn”t have a rating with the Better Business Bureau (BBB).
How many customer complaints has TurboDebt received through BBB?
TurboDebt has only received 2 customer reviews and 1 complaint on the BBB website.
How many positive customer reviews does TurboDebt have on BBB?
TurboDebt has not received positive customer reviews on the BBB website.
Can I continue using my credit cards while enrolled in the TurboDebt Debt Settlement program?
No, individuals cannot continue using their credit cards while enrolled in the TurboDebt Debt Settlement program as it may negatively impact the creditor negotiations.
What happens if a creditor refuses to settle with TurboDebt?
If a creditor refuses to settle with TurboDebt, the individual may need to continue making payments to that creditor outside of the program.
Is TurboDebt Debt Settlement right for everyone?
TurboDebt Debt Settlement may not be the best solution for everyone. It is important to discuss all available options with a financial advisor to determine the best course of action for an individual’s specific financial situation.
Glossary
- TurboDebt: A debt relief company that offers debt settlement services.
- BBB: Better Business Bureau, a non-profit organization that provides business ratings and reviews.
- Debt Settlement: A process where a debtor negotiates with creditors to settle their debt for a lower amount.
- Debt Relief: A general term for services that help individuals or businesses manage and reduce their debt.
- Creditor: A person or organization that is owed money by a debtor.
- Debt: Money owed by an individual or organization to a creditor.
- Credit Score: A numerical representation of an individual’s creditworthiness based on their credit history.
- Credit Counseling: A service that helps individuals manage their debt and improve their credit score.
- Debt Consolidation: A process where multiple debts are combined into a single loan or payment.
- Settlement Agreement: A legal agreement between a debtor and creditor outlining the terms of a debt settlement.
- Negotiation: The process of discussing and reaching an agreement between two parties.
- Late Fees: A penalty charged by a creditor for late or missed payments.
- Debt Settlement Company: Is a business that works on behalf of individuals to negotiate with creditors to reduce and settle their outstanding debts for a fee.
- National Debt Relief: It refers to the process of reducing or eliminating the amount of money owed by a country to its creditors.
- Debt Relief Programs: These refer to various strategies, policies, and initiatives designed to assist individuals or entities in settling their outstanding debts.
- Debt Collection Agency: Is a company that specializes in collecting unpaid debts on behalf of creditors or lenders.
- Debt Settlement Companies: These are businesses that help individuals negotiate with their creditors to reduce the amount of debt owed in order to reach a settlement agreement.
- Debt Payoff Planning: Is the process of creating a strategy to pay off outstanding debts in a timely and efficient manner.
- Free Initial Consultation: It refers to a meeting or conversation between a professional and a potential client that does not require payment or commitment.
- Credit card debt: The amount of money owed to a credit card company by an individual or entity for purchases made using the credit card.
- Debt relief services: Debt relief services refer to companies or organizations that offer assistance to individuals or businesses struggling with debt by negotiating with creditors to reduce or eliminate debt and creating a payment plan to help the debtor become debt-free.