Net Debt!

Net Debt is a traditional debt settlement company that works on your behalf to get your debts lowered to a manageable amount. As per the BBB, they have been in business for just over a year. !!They are dedicated to aggressively settling your debts so you don’t experience any more hardship than you need to. With stellar customer service, you can trust that you are getting accurate and detailed information.!!!!

Who Are They?!

The first thing you want to do is get enrolled into a program. You will work with a representative to figure out what your monthly budget and savings plan should be. An FDIC insured account is set up for you and managed by a third party completely. You own this account and work on building your savings month after month while Net Debt negotiates with your creditors; this can take weeks and months depending on how many creditors you have. !You then agree to the amounts that have been negotiated, and then you take money from your account to pay off each specific creditor. When they get payments in full, your debt will be written off.!

Debt Settlement Process!

They guarantee that they won’t charge you anything until your debt is resolved. Keep in mind that this is a law. Debt settlement companies cannot offer any upfront fees. !!They have another guarantee that is somewhat unique. They advertise that the discounted debt settlements will save you at least the fees charged by Net Debt, or they will pay you the difference. !!Also, if they are able to settle for 60% or more of any balance you owe, they will automatically accept it for you. This way, it can save you time from having to officially accept a bunch of offers from your creditors. !

Their Guarantee!

We were told that the state, Utah, we were calling from was not a state that they can legally do debt settlement in.The representative was very kind and walked us through the process of settling our debt on our own. He was very informative about how other companies will bend the rules and find loopholes to settle your debts even if they are legally not supposed to do so.!!It would benefit you to research the laws in your state before even exploring the debt settlement option.!

Doing Business Honestly!

Though it can be reassuring that an attorney is working on your debt settlement case, it is not necessary. Companies that do this will often charge you more and may even request retainers up front.!!Net Debt does not have attorney’s on staff, yet they know all the tricks to get your debt settled. We were also told of the importance of a company that has good relationships with creditors. Some big creditors, like Discover, can be trickier to work with. Going with a larger company that can handle many debts at once for each creditor ensures that they get better deals on settlements.!

Why You Don’t Need an!Attorney According to NetDebt!

Unfortunately, they have no debt management resources available. We asked the representative if they had any kind blog, articles, social media and they do not. Though they are a purportedly a large company, they do not offer much in the way of resources and help for their customers regarding debt management. This was a bit disappointing and could be a great way for them to provide value.!

Do They Offer Debt!Management Resources?!

•  They have a C+ rating.!

•  There have been 6 complaints closed in the last three years. Of these six, they have all been closed within the last year.!

•  2 complaints were for advertising and sales issues. 1 complaint was for billing and collection issues, and 3 were regarding problems with product or service.!

BBB Rating!

•  They do not charge any upfront fees whatsoever.!

•  We were told that with a scenario of $15,000 in debt, they could put us into a 36 month program with a payment of around $280 monthly, and settle that debt to approximately $9,300.!

•  Be advised however that monthly payment amounts and settlements will vary from person to person. For accurate pricing for your situation, you’ll have to contact them directly.!

What Do They Charge?!

No. You can simply drop out of the program when, and if, you choose. The FDIC account that is set up for you is yours to control.!

Do They Have a Refund!Policy?!

Unfortunately they are not active on social media. This seems to be another missed opportunity for the company. Consumers would benefit from addition interaction.!

Are They Active on Social!Media?!

•  The quote we got seems pretty standard for what we’ve found in the industry.!

•  Free Consultations!

•  Customer service was phenomenal. The representative we spoke with spent thirty minutes on the phone with us to help us figure out how we can settle our own debt since his company can’t help us. He also gave us his direct number so we can call and get advice later if we need.!

The Good!

The Bad!

•  Their BBB rating is a bit low and might be a red flag.!

•  Their debt education tools are thin to non-existent.!

•  They claim to be a very large company with an exceptional program but they lack any kind of resources, and their About Us page on the website seems to give very generic information. We have found it to be a good thing when companies give more of their history; how long they’ve been in business, corporate officer information, etc.!

The Bottom Line!There are some things that make us wonder what type of a job they would do, but they seem like a professional company from our first experience with them.!!We advise that you do more research if you considering NetDebt. !!Their guarantee is somewhat unique and helps promote confidence that they can settle your debts effectively.!

Want to Learn More?!If you’re interested in learning more, you can find their full review on BestDebtCompanys.com at the following URL: !!http://bestdebtcompanys.com/settlement/net-debt-review/!

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