Credit Associates works as a debt relief company that focuses on helping people negotiate settlements with their creditors. Their ulterior motive is to get your creditors to an agreement or settlement in which you will have to repay less amount in debt than what you actually owe them. Following the law, you won’t pay any upfront fee to Credit Associates but you’ll have to pay them a performance-based after the settlement has been negotiated.
Before getting into the nitty-gritty of things, let’s get an overview of the company’s performance history in recent years. Read through the article to learn more on how Credit Associates’ debt settlement programs functions.
The company was founded recently in 2016 and is based in Texas. As far as the question arises that who owns Credit Associates? The company is a member of the reputed American Fair Credit Council (AFCC). It is also a gold accredited service provider with the International Association of Professional Debt Arbitrators (IAPDA) which means that it has over 25 to 99 debt advisors. Although this debt relief provider can work with clients in most parts of the USA, it’s services are restricted in many other states.
Before moving forward let’s quickly understand how credit works in general and what is the need of a debt relief company.
Why Credit Is So Important?
Some people argue that buying things on credit while having the luxury of using a credit card can significantly increase your expenses. But is it really true? Here’s an example to help you understand how credit cards work.
Imagine a scenario, where you’re roaming around the streets and suddenly you feel thirsty. Now, if you have your credit card with you, you can just walk into a departmental store, grab yourself something to drink, go to the billing counter and flash your credit card, collect the receipt and enjoy your drink.
The whole process took just a few minutes and made the entire process of purchasing something very convenient. Although you were not carrying cash, you didn’t have to go to a bank for a loan or borrow it from someone. In this way by using credit cards you can spend on anything, several time and easily repay the debt at your own convenience.
Also, there are several benefits of using a credit card. Apart from the obvious ones that you can buy things on credit, you can use it to track your expenses. Credit cards are also the most accepted method of payment worldwide and they barely charge any interest on withdrawals. It can be a great companion while you’re traveling, offers discount coupons and cashback as well as improves your credit score which further helps you to buy things without any difficulty.
Why Do You Need A Debt Relief Company?
Now when you have understood what credit is and how it works, let’s look into the benefits of associating with a debt relief company. Credit Associates provides various debt settlement programs in which they mainly focus on helping their clients negotiate settlements at a lesser amount as compared to what they owe to the creditors.
Basically, Credit Associates helps you to negotiate settlements on unsecured debts. These debts can be a medical bill, a credit card debt or an unsecured business loan.
Unlike other debt relief providers, Credit Associates doesn’t provide its services where the debt is secured by some collateral for example car loans and home loans.
Credit Associates are limited to providing debt settlement programs only to those clients who are in the midst of a financial problem such as an unfortunate death of someone in the family, a recent divorce or a medical emergency.
Credit Associates Fee
Unfortunately, how much does the credit associates cost is unknown to everyone as the company doesn’t disclose the fee it charges. But following the law, you are not required to pay any sum of money upfront to Credit Associates. The company only asks for a fee if it has successfully negotiated an agreement with the creditors for you.
This is something that makes a lot of people concerned about Credit Associates as debt relief companies should be transparent about all their information.
Clients of Credit Associates are given an average time period of 24 to 36 months to resolve their debts which rightly falls within the debt relief industry average of 24 to 48 months.
Credit Associates offer their services from Monday to Friday between 8 AM to 9 PM and from 9 AM to 9 PM on Saturdays. You can reach out to them through phone calls by dial-in 1-800-983-6693 or visiting their official website at creditassociates.com.
Keep in mind that the company doesn’t not provide it’s services on Sundays.
Credit Associates: Pros and Cons
- Credit Associates is accredited by two of the most reputable associations, the AFCC and IAPDA
- Customer Support is available six days a week except for Sundays.
- You get a client portal to monitor your account continuously.
- Lack of transparency in providing information regarding fees.
- Restricted to providing services in limited states.
- Provides services to only those with legitimate financial hardships.
After reviewing the company on different aspects we’ve come to a conclusion. But before telling you the final verdict we would like you to read a summary of how Credit Associates work.
Key Takeaways From The Review
- The company is relatively new as it was founded back in 2016 only.
- Credit Associates is accredited by both the IAPDA and the AFCC which are two of the most trusted debt relief industry association.
- Credit Associates doesn’t disclose the minimum level of debt to enroll or any information regarding its fee.
- Many customers complain of communication issues with the company.
- Credit Associates can track progress within an internet bank account.
Do Credit Associates Really Work?
Even after being accredited by the top two associations, Credit Associate lacks transparency. Also, there are many reviews pointing out some issues related to communication. However, there are some obvious issues but Credit Associates is still a genuine company. Overall, we suggest that it would be better for you to choose a more transparent debt relief provider.