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Credit Associates Reviews – Features, Fees, and Programs

Curious to find the Credit Associates reviews from experts? Below you have a complete description of how this program works.

April 20, 2022 at 8:37 am in Financial

Curious to find the Credit Associates reviews from experts? Below you have a complete description of how this program works.

An increase in credit companies has resulted in more consumer debts. Such an alarming increase in debts has led to the development of debt settlement companies such as Credit Associates. The ultimate goal of such companies is to collaborate with debtors to make sure that creditors agree to a settlement that is less than what is owed.

In that aspect, negotiations can take between 24 and 48 months to get the expected results. This Credit Associates review examines the different features of this newly formed company, including its requirements and fees. In addition, users will understand the negotiation process included in their contract. 

Credit Associates Reviews – Introduction

Credit Associates was founded in 2016 as a debt settlement company. Its current headquarters is located in Dallas, Texas, and the company is an accredited member of the American Fair Credit Council (AFCC). Notably, the AFCC is a professional debt solution organization. Its services have been accredited by the International Association of Professional Debt Arbitrators (IAPDA). 

Credit Associates Reviews

Credit Associates LLC, therefore, assists companies in recovering their money from debtors by negotiating a much lesser amount than what was owed originally. The company is known to work with individuals too, but these services are not available in all states. 

Credit Associates Reviews – Features

Negotiation Fees

Credit Associates LLC focuses on personal debt negotiation. Once debtors have enrolled, they are required to make deposits each month into an individual account. This amount will then be used to initiate talks with their creditors so that the debts owed by the debtors can be paid but for only a fraction of what is owed. 

In many instances, each credit account is paid within 24-36 months. Since debt settlement is never assured, creditors will not cover services till the whole deal is complete. There are currently no laws that encourage the bargaining of debts, but this can be considered a win for creditors since their debtors cannot pay their initial debt. A fraction of the debt is better than nothing at all. 

Customer Satisfaction

The experts analyzed the customer satisfaction in these Credit Associates reviews too. Credit Associates LLC gives its users the chance to contact them via telephone at no cost. This makes it easy for creditors as well as debtors to communicate frequently and easily. In addition, when it comes to existing clients, the company offers telephone services to them all through the six days of the week they operate. Finally, once the negotiation process is in motion, clients can monitor their progress through the Credit-Associates Web-based portal. 

Debtor’s Credit Score

The debt settlement program that Credit Associates are offering is meant to recover debts that are yet to be paid. Therefore, the program does not operate according to the debtor’s credit score. However, those enrolled in the program should expect a drop in their credit score because they failed to pay back their creditors. Credit Associates also sees that creditors can recover part of their almost written-off debt through a win-win situation presented to the debtor.

Credit Associates Reviews About Fees

The law forbids any upfront fees paid by debtors. Therefore, Credit Associates will not ask you for any fees at the beginning of the program. However, if there is a successful negotiation process and an agreement with the client’s creditors, there will be charges imposed. 

Currently, Credit Associates has not made its fees transparent to the public. The company also restricts information about the savings that the debtor may encounter before and after the charges. However, examining their savings estimate calculator shows a 35% saving from the original debt. While most people would wish for transparency on this data, it is important to know that Credit Associates are good in their negotiation process, and they have been rated 4.9 out of 5 in Trust Pilot

Credit Associates – Programs

This company has several programs that will be examined in this Credit Associates review. First, with its ultimate goal to help in the negotiation process between debtors and creditors, the firm aims to ensure that debtors end up paying back a reduced debt compared to the initial amount. 

Credit Associates Reviews

Credit associates LLC specializes in credit card debt, business debt, and hospital/medical bills. They have distanced themselves from auto loans, mortgages, and other secured loans. Their debt recovery program remains unclear as to whether they can negotiate student loans, and this is mainly because they have not mentioned it as part of their recovery programs. 

To participate in their program, debtors must enroll with a minimum of $10,000. Their programs are usually concise, with a monthly payment plan ranging from 24 to 36. Therefore, it is expected that there the debtor has a monthly cash flow to ensure that their debts are negotiated quickly. 

How to Use Credit Associates

To use the services offered by Credit Associates, debtors are first required to initiate contact with them. After that, all the financial goals and situation sessions that debtors have with the company are entirely free. Through these sessions, a consultant can take the debtor through the debt settlement system to allow them to decide whether it is an excellent match for their needs. 

CreditAssociates Client

Most of the online Credit Associates reviews say that is easy to use. The debtor then enters into a contract with Credit Associates to allow the company to commence with the debt resolution process. The first step towards this resolution is making a call to the creditors to ascertain your existing debt and begin the process of negotiation. Once the negotiation process is ongoing, debtors can stop making payments to their creditors. Those with unpaid bills seem more convincing as companies will already see that you cannot spend, which surmounts a financial crisis.

Debtors then make affordable monthly deposits into a purpose amount every month. Once the goal lump sum is accumulated, Credit Associates may reach an amicable settlement with the debtors. The company then provides a lump sum from the debtor’s savings as an offer to creditors in the negotiation process. 

In most cases, creditors are usually willing to take up the offer and wipe the debtor’s name off their records. This, in the end, serves as a win for both sides since the creditor will have received a part of his credit while the debtor will have a substantial chunk wiped out of their debt. 

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Credit Associates Reviews – Conclusion

Looking at this Credit Associate review, we can conclude that Credit Associates is a relatively new company, and debtors may be wary about its services. However, it has proven effective in all its debt management programs. Credit Associates is also accredited by both IAPDA and the AFCC, and this should increase the trust of its clients and those who wish to get into business with them. 

Despite lacking the transparency it deserves, reviews from reputable sources such as Trustpilot indicate that Credit Associates has had great interaction with its clients. Most of them were satisfied with the services they got and the results that came out of it. We can conclude that Credit Associates should do more to ensure that they remain transparent in their fees to match their already growing perfect scores. We hope these Credit Associates reviews were useful.

Images source: Credit Associates

Notice: The information in this article and the links provided are for general information purposes only and should not constitute any financial or investment advice. We advise you to do your own research or consult a professional before making financial decisions. Please acknowledge that we are not responsible for any loss caused by any information present on this website.
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