TurboDebt is a debt settlement company that aims to help individuals get out of debt by negotiating with creditors on their behalf. The company offers a free consultation to potential clients to discuss their financial situation and determine if TurboDebt’s services are a good fit for their needs.
- BBB A+ Rating & Accredited
- $300 Million Debt Settled
- $8,000 Minimum Debt
Once a client enrolls in TurboDebt program, they will be charged a fee based on a percentage of the total enrolled debt. This fee is typically around 18-25% of the total enrolled debt but can vary depending on the individual’s specific situation. Clients are only charged this fee if TurboDebt successfully negotiates a settlement with their creditors.
When considering a debt relief service, it is important to research the pricing and fees associated with the service. Debt relief services can be expensive, and it is crucial to understand the costs involved before signing up for a program.
TurboDebt Pricing And Fees
- Service fees breakdown: TurboDebt’s service fees range from 15% to 25% of the enrolled debt. The fee is based on the amount of debt enrolled, and the fee is only charged on the amount of debt that is settled.
- Settlement fees breakdown: TurboDebt’s settlement fee ranges from 18% to 25% of the amount of debt that is settled. The fee is only charged on the amount of debt that is settled.
- Monthly maintenance fees breakdown: TurboDebt’s monthly maintenance fee is $35 per month. This fee is charged for managing the client’s escrow account.
- Other fees breakdown: TurboDebt does not charge any other fees, such as enrollment fees or cancellation fees.
How Does TurboDebt Work?
TurboDebt offers free consultations and directs clients to debt settlement agencies or debt consolidation lenders. It’s important to note that the consultation will be conducted by a sales representative and not a credit counselor. The representative’s objective is to find a suitable partner company for the client, which may impact the guidance provided.
How to Sign Up
To get help from TurboDebt, you can either contact them via phone at 1-866-830-549 or their website and book a consultation for free. During the consultation, you will have to provide a thorough explanation of your income, expenses, and debts so that they can offer you the most effective assistance.
Debt Settlement Companies
Debt settlement companies are businesses that claim to help individuals and families struggling with debt by negotiating with creditors to settle their outstanding balances for a lump sum payment, typically for less than the full amount owed.
Debt Relief Programs
Debt relief programs are designed to help individuals who are struggling with overwhelming debt. These programs typically involve negotiating with creditors to reduce the amount owed, lowering interest rates, and creating a manageable payment plan. A debt relief company can be a lifeline for those who are drowning in debt and cannot see a way out.
Conclusion
TurboDebt’s pricing and fees are generally lower than other debt relief services, with service fees ranging from 15% to 25%, settlement fees ranging from 18% to 25%, and a monthly maintenance fee of $35. Choosing the right debt relief service requires careful research and evaluation of pricing, services, and customer service. If you are struggling with debt, take control of your finances by researching debt relief services and selecting a program that meets your needs.
FAQs
What are the fees charged by TurboDebt for debt settlement services?
The fees charged by TurboDebt for debt settlement services vary based on the amount of debt enrolled in the program and the state in which you reside. However, the company charges a performance-based fee, which means you only pay when they successfully negotiate a settlement with your creditors.
How much does TurboDebt charge for its debt settlement services?
The fees charged by TurboDebt for its debt settlement services typically range from 15% to 25% of the total amount of debt enrolled in the program.
Are there any upfront fees charged by TurboDebt?
No, TurboDebt does not charge any upfront fees for its debt settlement services. The company only charges a fee after it has successfully negotiated a settlement with your creditors.
How does TurboDebt determine its fees?
TurboDebt determines its fees based on the total amount of debt enrolled in the program and the state in which you reside. The fee is typically a percentage of the total amount of debt enrolled in the program.
Are there any hidden fees charged by TurboDebt?
No, TurboDebt does not charge any hidden fees for its debt settlement services. The company is transparent about its fees and only charges a performance-based fee.
Does TurboDebt offer a money-back guarantee?
Yes, TurboDebt offers a money-back guarantee. If the company is unable to negotiate a settlement with your creditors, you will receive a refund of any fees paid to the company.
Does TurboDebt charge a monthly fee?
No, TurboDebt does not charge a monthly fee for its debt settlement services. The company only charges a fee after it has successfully negotiated a settlement with your creditors.
Can I negotiate the fees charged by TurboDebt?
No, the fees charged by TurboDebt are non-negotiable. However, the company offers a free consultation to help you understand the fees and determine if its debt settlement services are right for you.
How long does it take for TurboDebt to negotiate a settlement with my creditors?
The length of time it takes for TurboDebt to negotiate a settlement with your creditors varies based on the amount of debt enrolled in the program and the creditor’s willingness to negotiate. However, most settlements are reached within 24 to 48 months.
Can I cancel my enrollment with TurboDebt at any time?
Yes, you can cancel your enrollment with TurboDebt at any time without penalty. However, you will only be refunded fees paid to the company if a settlement has not been reached with your creditors.
Glossary
- Debt settlement – A process in which a debtor negotiates with a creditor to settle a debt for less than what is owed.
- Creditors – Individuals or organizations that loan money or extend credit to a borrower.
- Settlement agreement – A legally binding agreement between a debtor and creditor to settle a debt for a reduced amount.
- Enrollment fee – A fee charged by TurboDebt for enrolling in their debt settlement program.
- Monthly service fee – A fee charged by TurboDebt for the ongoing management of a client’s debt settlement program.
- Negotiation fee – A fee charged by TurboDebt for negotiating with creditors on behalf of clients.
- Success fee – A fee charged by TurboDebt for successfully settling a client’s debt.
- Minimum debt requirement – The minimum amount of debt a client must have in order to enroll in TurboDebt’s debt settlement program.
- Creditor harassment – The act of creditors contacting debtors repeatedly, using aggressive tactics to collect a debt.
- Debt validation – The process of verifying the accuracy of a debt and ensuring that it is legally collectible.
- Debt consolidation – Combining multiple debts into a single, more manageable payment.
- Debt management plan – A plan to repay debts through a structured payment schedule.
- Statute of limitations – The period of time in which a creditor can legally sue a debtor for an unpaid debt.
- Collection agency – A company that specializes in collecting debts on behalf of creditors.
- Credit score – A numerical representation of a person’s creditworthiness, based on their credit history and current financial situation.
- Consumer Credit Counseling Service – A non-profit organization that provides free or low-cost credit counseling services to consumers.
- Bankruptcy – A legal process in which a person or business declares that they are unable to repay their debts and seeks relief from their creditors.
- Debt Relief Programs: These refer to initiatives or policies aimed at helping individuals or organizations reduce or eliminate their financial obligations.
- Debt Settlement Companies: These are businesses that negotiate with creditors on behalf of individuals or businesses to reduce the amount of debt owed.
- National Debt Relief: This refers to the process of reducing or eliminating the outstanding debt of a country or government.
- Debt Relief Program: Is a type of financial assistance offered to individuals or businesses struggling with debt that aims to reduce the amount owed or restructure the payment plan to make it more manageable.
- Unsecured debts: Unsecured debts are financial obligations that do not have any collateral or security attached to them.
- Debt consolidation services: Debt consolidation services refer to the provision of financial assistance or guidance to individuals who have multiple debts to consolidate their debts into a single loan or payment plan to simplify their repayment and improve their financial situation.