There are few reputable debt relief companies out there. With companies doing business online and offering immense savings, it’s not cynical to think that someone out there is getting swindled. That’s why it helps to do a little research before confiding in the services of an online company.
One debt relief company I recently looked at was Curadebt. Curadebt was founded in California in 1996 to provide “financial and creditor negotiations, settlement, and arbitration services on behalf of individuals and small businesses.” The website itself says that, at the time, the founders of Curadebt had over 25 years of experience dealing with real estate, lending policies, and banking. The company created a website in 2000, and they have been going strong since, having “settled over $250 million in consumer and business debt.”
I found three different online reviews about Curadebt, and all three of them gave pros and cons of the companies. Debtfirms.com noted that Curadebt is a member of TASC (The Association of Settlement Companies), and you can request a free estimate by going to the website and filling out a form. You can choose debt settlement or debt negotiation services, and you can also choose between a payment plan or a lump sum payment for the final result. The website also lists many of the settlements it has successfully negotiated, with customers saving as much as 70% and even more. (Curadebt’s website also has a disclaimer, noting that the settlement letters “by no means… represent a guarantee of future results”, and it gives the average amount saved on settlements. From May to October 2009, Curadebt customers saved on average 61.5% on their balances.)
Starreviews.com also noted the free savings estimates, as well as the variety of getting debt settlement, debt negotiation, or debt consolidation. It also noted Curadebt’s good customer service. The website has a link for customer questions and comments, as well as a list of frequently asked questions.
Debt-tips.com and Debtfirms.com both noted positive customer reviews. Debt-tips listed “very few complaints with BBB”, while Debtfirms listed Curadebt’s A- grade from the BBB and a total of 22 complaints in the past three years.
Money, however, seemed to be the biggest negative of the three reviews. Debt-tips noted customers must have at least $10,000 in credit card debt to get services. Starreviews noted “no information regarding service fees,” and Debtfirms noted that Curadebt is a for-profit company. The company earns its money by receiving a percentage of the amount they are able to get you to save, so there is exact estimate as to how much you will be paying the company in fees. However, if you are late in making monthly payments, you will be charged higher in fees.
Regardless of the negative aspects, Curadebt has received overwhelmingly positive reviews from people all over the country. If you are researching your options for quality debt relief, Curadebt’s website is a nice starting point.
Note: The BBB has upgraded the rating for Curadebt to an “F” rating and currently lists the type of business as “Debt Relief Services (Non-compliant with FTC Rule). Please research any company carefully and review all documentation prior to signing up for any service.
He played clarinet for the Marching Tar Heels in 2005 and 2006. He also volunteered for STV, the student-run television station at UNC-Chapel Hill, in the spring of 2010. He shot video, wrote scripts, and acted for “Off the Cuff,” UNC’s longest running sketch comedy show. He has the rare distinction of having lived in a dorm all four years of his undergraduate college career. He was also on Franklin Street on the night of April 4, 2009. His future plans are to pursue a master’s degree in journalism and to one day work for the media as a sports journalist or broadcaster.
Being one of eight children, David realizes finance is an important topic to everyone, regardless of his/her knowledge of the subject. His interests are in personal finance, budgeting, and savings.
In his spare time, David enjoys watching sports and standup comedy, as well as doing crossword puzzles and writing in the first person. He also thoroughly enjoys trivia and, one day, hopes to participate on the game show Jeopardy!, where he will try to break Ken Jennings’ 74-game win streak.