In order to restore the American family’s economic health, it is critical to find a solution to the mounting debt that so many of us face these days. Many people have been driven to debt as a result of losing their jobs due to economic cut backs. Although there are numerous companies that advertise assistance for debt relief, it is critical to do research first before you commit to working with any company. This review of American Debt Enders is intended to provide you with the information you need to help you decide if this company is one you want to work with.
About American Debt Enders
The company opened for business in 2006. In all the time they have been in business, there hasn’t been one valid complaint that has been filed against this company. That is a very impressive track record, especially for a company that provides debt relief services. They offer free credit counseling over-the-phone, in addition to other programs, to help individuals achieve a debt-free life. American Debt Enders is a for-profit company that provides free phone Bankruptcy Counseling, Credit Restoration as well as Debt Settlement and Debt Consolidation services.
The Pros of American Debt Enders
Counselors know and understand how difficult it is to recover financially and get on the right track once again. For this reason, they are committed to working with you even after the restoration or consolidation process is complete. Their skilled and experienced counselors work with clients to help them come up with a workable household budget, help to identify income that is exempt to prevent bill collectors from taking it, and they offer advice on bankruptcy.
The company is well prepared to help clients set their debt management programs up to pay down unsecured debt in five years or less. American Debt Enders is very effective with this because they have solid relationships established with many of the lenders holding the debt. Clients discover that the bills that they need to pay do fit within their budgets and are manageable.
All debt is not the same or created equal. American Debt Enders knows and understands this very well. For this reason they have set up a special department to exclusively deal with Student Loan Debt. They can not only help you with structuring the debt, but in addition they can look for debt forgiveness possibilities. They have expert staff that can help individuals with their students loans that are currently in arrears or close to getting there.
American Debt Enders can also help you even if you have debt in the $5,000 to $10,000 range. A majority of companies require a minimum debt amount of $10,000. This offers you the chance to get financial advice and assistance even if you have a debt load that by most standards is considered relatively low.
The Cons of American Debt Enders
Helping clients solve their debt problems does come with a learning curve. The company has grown at a very rapid rate. Therefore, not all of their counselors are experts. We wish that wasn’t true. If you end up talking to a debt consultant who is relatively new, make sure they double check everything. The company does offer trainers who provide counselors with assistance to make sure they come up with the best plan to meet your needs.
Although the company isn’t really pushy in trying to get to you enrolled in other programs that could cost you money, it is true that they have contracts with numerous companies. This enables them to offer free consultations. If you work out a debt consolidation program with them, it will be with one of their business partners. So you won’t be able to select any lender you want. The company will, however, look for the best rate among their partners for you. So it isn’t necessarily something that is bad.
How Much Do Their Services Cost?
The company is a for-profit business. However, because they have contracts with numerous financial firms, American Debt Enders is able to offer free consultative services. Your consultant during the phone interview will get a sense of your financial situation. Then he or she will help you come up with a plan. You are never under any obligation to pay.
We recommend American Debt Enders to you if you fit into any of these following categories:
1. You have debt that you are unable to repay that totals more than $5,000.
2. You have student loan repayments that you can’t afford because they are too high. You want to get loan forgiveness or find a way to have your payments restructured.
3. You feel that debt management definitely is important. However, paying for a professional financial counselor is something you cannot afford.
4. You finished your debt management plan. You now want to work on restoring your credit.
5. Bankruptcy is potentially a viable solution for you to solve or improve your financial problems.
6. You want to have the chance to speak with a financial expert free of charge.
American Debt Enders does have a positive reputation within the industry. They appear to really want their clients to be successful. All of their consultations are conducted over the phone. This means you won’t need to leave your house to receive financial counseling. The company overall is solid and offers a very sound financial consulting service that is completely free.