Credit Associates is focused on helping people negotiate settlements for unsecured debts, and they won’t charge you any fees upfront. You will pay a performance-based rate once negotiations have led to an agreement that’s less than what was owed by credit card companies or other lenders, all without requiring another payment until after this process finishes.
- BBB A+ Rating & Accredited
- $1 Billion Million Debt Resolved
- $10,000 Minimum Debt
Company Overview
Credit Associates is a professional debt relief company that has been in operation since 2016. It’s accredited by the American Fair Credit Council (AFCC), one of the largest associations serving this industry, and it offers its customers gold status with International Association For Professional Debt Arbitrators(IAPDA). This means there are at least 25-99 certified debt advisors.
Credit Associates has a wide range of services and resolving credit card debt, personal loans, medical debt, and other unsecured debt. But, not all states can take advantage. State restrictions mean that some people may be out from utilizing their debt settlement services because they live in certain areas or have specific financial needs which aren’t met by the company’s offerings there, for example, CO & CT along with GA, MD, MN, OH, VT, WY.
We were not able to find any legal actions involving Credit Associates at the state or federal level.
Debt Relief Options
We all know that debt can make life difficult, but what if there was a way to get out from under it? Credit Associates offers the Credit Debt Settlement Program which helps consumers negotiate settlements on unsecured debts such as credit card bills or medical loans. You don’t have to be worried about missing payments anymore because they’ll take care of everything for you.
As a rule, Credit Associates can’t help with secured debt by collateral such as home mortgages and car loans. The company doesn’t mention student loans so it’s unclear if they would be able to address this type of obligation for you in any case.
Credit Associates offers a debt settlement program to help people with legitimate financial hardships. The company doesn’t explicitly require any other requirements, but their calculators have a built-in minimum of $7000 so we expect this may be the required level for qualification purposes to get your debt free.
Fees
Credit Associates will never charge you an upfront fee. The company only takes payment if they are able to successfully negotiate agreements with your creditors, which is typical for debt relief agencies like this one.
Credit Associates will not charge you any upfront fees with the company. They only get paid if they are able to successfully negotiate an agreement on behalf of your creditors and this performance-based fee structure is typical for debt relief services like these.
They will then coordinate the debt settlement process and the clients of Credit Associates can resolve their debt issues in 24 to 36 months by doing monthly payments, which falls within the industry average of about two-and-a-half years.
Customer Service: Support is Available Six Days a Week
Credit Associates offers 24-hour support to its customers. You can contact someone with the company every day of the week except Sunday, between 8 a.m and 12 Midnight (ET). They are open Monday through Friday during those times too.
To get support from Credit Associates by phone, you can call this toll-free number:
- Customer Service for Clients: 1-800-983-6693
The one downside to this company is that they don’t offer live chat options and it’s not uncommon for them to only provide customer service during business hours.
Customer Satisfaction: Communication Issues Are Common
We read through a wide range of reviews to find out what it’s really like working with Credit Associates. Although we saw many positive ones, there were not as many people who had actually completed the program and left feedback on their experience afterward.
Credit Associates is a company that has had many communication issues with its customers. They have been known for contacting people without permission and calling often, which can be an unwanted contact if you do not like receiving these sorts of messages from lenders in general.
While these could be isolated instances, it is concerning that some Credit Associates’ debt advisors want clients to sign contracts on the spot without providing them with enough time for review.
Credit Associates BBB Reviews
Credit Associates does maintain an A+ rating with the BBB, however, based on 23 customer reviews, they received 2 out of 5 stars. They also received 86 complaints in the last three years and 36 complaints in the last 12 months. The most recent review we found is below:
Account Management
Credit Associates offers a client portal where you can track your progress and manage the account 24 hours a day, 7 days a week. You will also be assigned one-on-one support from your designated team member if needed.
Other Features
Credit Associates offers a debt consultation service in which they will review your financial situation and discuss possible options to help you get out of debt. If the company cannot, it may be able to refer or link customers up with relevant providers who can offer these services at no cost through their network, this is something some competitors don’t do.
How Credit Associates Compare to Other Debt Relief Companies
The main competitors to Credit Associates are the reputable debt settlement companies Accredited Debt Relief, National Debt Relief, and Freedom Debt Relief a well-known debt settlement company. Both focus primarily on helping people resolve unsecured debt issues but they also offer assistance with private student loans if necessary case on a case basis. It’s unclear whether or not this service is available at all times for those who need it most
Some of the other key differences between Credit Associates and Accredited Debt Relief are:
- Credit Associates doesn’t disclose its typical fee range.
- National Debt Relief discloses its typical fee range from 15% to 25% of total enrolled debt (the industry average).
- Credit Associates doesn’t share what it takes to qualify for its program, while Accredited Debt Relief clearly discloses that it requires you to have more than $7,500 in qualifying debt to enroll.
- An evaluation of reviews from a wide variety of sources suggests communication problems are commonplace with Credit Associates. In contrast, reviewers suggest you can expect Accredited Debt Relief to communicate with you regularly.
Accredited Debt Relief has a better reputation with its customers, they are accredited by the Better Business Bureau with an A+ rating, and offer more transparent pricing than Credit Associates.
Final Verdict
Credit Associates is an up-and-coming debt relief company that has only been around for six years, but it already boasts accreditation from some of the most reputable agencies out there. While their lack of transparency concerning fees and qualifications may be a little disappointing at first glance – after all we want to make sure our readers know what they’re getting themselves into before signing on any dotted lines.
Credit Associates has a poor reputation with some of its customers. Most reviewers noted that they experienced communication problems, even some positive feedback containing references to “communication issues” being evidenced in the company’s products/services offered by them at times! You would be wise not only to choose debt relief providers who are transparent about what they provide but also to look out for any negative reviews before making your final decision on which one will work best for you too, just like we did here!
