Thursday, 18 April 2024
CuraDebt Debt Relief launched in 2000 in Irvine, Calif., offering debt relief services to individuals and small businesses across the country. The company states it immediately got to work creating strong relationships with major creditors to better help its clients negotiate relief from their debt. CuraDebt believes in offering a solution to consumer debt, but also working to help connect customers with other professional services, such as tax assistance, or local attorneys to provide guidance through the debt relief process.
CuraDebt manages all its debt relief clients in-house, claiming that it provides the best communication and ensures the best possible results. CuraDebt has over 200 settlement letters, with about 50 currently viewable online, showing savings of between 49% and 100% of the debt amount enrolled. It has over 150 five-star customer reviews on Shopper Approved, as well as five stars on Customer Lobby.
It is a member of the Online Business Bureau, U.S. Chamber of Commerce, International Association of Professional Debt Arbitrators (IAPDA) and the American Fair Credit Council (AFCC). It has been in the top 2 rankings of “Best Debt Relief Company” by TopConsumerReviews.com for over nine years.
CuraDebt offers a range of debt relief services, helping customers gain the best possible service.
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Services offered |
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Minimum debt required |
$5,000 |
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Credit check |
Not specified |
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Debt settlement timeline |
Not specified |
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Consultation fees |
Free consultation/quote |
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Cancellation fees |
Not specified |
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Service fees |
Average of 20% of the total debt amount enrolled |
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Types of debt accepted |
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Accreditations |
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Ratings |
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Service limitations |
Doesn’t help with:
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Free tools and resources |
Free savings estimate calculator |
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Customer service |
877-850-3328 |
Individuals who are working to pay down these types of debts are eligible to work with CuraDebt:
CuraDebt offers a variety of debt relief programs, including debt relief, debt settlement, tax debt relief, debt negotiation and debt consolidation. CuraDebt claims it’s often a better alternative than bankruptcy for individuals experiencing severe amounts of debt that they’re unable to repay or who are behind in their payment schedule.
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Benefits |
Risks |
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Quick debt relief: Working with CuraDebt means taking action to pay down or settle debt. Enlisting its help could result in debt relief that’s faster than continuing to struggle or declaring bankruptcy. |
High cost: CuraDebt takes, on average, 20% of the total enrolled amount of debt as a fee. |
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Save money: CuraDebt negotiates with creditors for lower rates and lower payments or to settle the debt completely. |
Can damage credit score: Working with debt relief or debt settlement organizations can damage credit scores. |
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Simplified process: Chasing down creditors can be emotionally exhausting. Working with CuraDebt can relieve the pressure and simplify the process of negotiating with creditors. |
No guarantee: There’s no guarantee that CuraDebt can negotiate debt settlements. |
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Consolidate debt: Making one, easy monthly payment to CuraDebt is easier than servicing multiple debt payments each month. |
Timeline is unclear: CuraDebt claims to help you become debt-free “as quickly as possible.” But there is no clear timeline for resolving your debt. |
All counseling and consultation sessions with CuraDebt are free. When CuraDebt is engaged in debt relief or debt settlement services, the fee is typically 20% of the total enrolled debt. CuraDebt also indicates a minimum debt of $5,000 is required from customers to initiate an engagement. Beyond that, CuraDebt outlines that its fees are calculated by:
CuraDebt’s goal is to negotiate your debt repayment or to settle your debt entirely as quickly as possible.
CuraDebt has largely positive reviews on a variety of online consumer review sources, including the Better Business Bureau and the U.S. Chamber of Commerce. It is affiliated with the American Fair Credit Council and has over 200 settlement letters dating to 1998 highlighting savings between 49% and 100%. About 50 of those settlement letters are currently available to view online.
To begin an engagement with CuraDebt, start by signing up for a free consultation. It can provide a free savings estimate on its website. From there, one of its representatives may be in contact, or you can contact the company directly by requesting a free consultation online, via email or via phone at 866-268-0424.
CuraDebt will begin to reach out to creditors after a session with a CuraDebt counselor. But it can’t help customers with:
It works to negotiate or settle your debt as quickly as possible. In some cases, having a lump sum to start paying toward your debts can help speed the process along.
If you’re looking to tackle debt repayment on your own, there are several different options you have available to you. Depending on the type of debt you’re facing, you can look toward consolidation, a debt management plan, a DIY debt settlement or filing for bankruptcy if your case is beyond repair.
Debt consolidation is a loan that’s used to pay off all existing debts, which allows you to make a single payment rather than tracking multiple outstanding debts and payment schedules. Debt consolidation can sometimes offer lower interest rates, extended terms or lower monthly payments.
Pros
Cons
Minimum Credit Score
months
LendingTree is our parent company. LendingTree is unique in that you may be able to compare up to five personal loan offers within minutes. Everything is done online and you may be pre-qualified by lenders without impacting your credit score. LendingTree is not a lender.
A debt management plan is administered by a credit counseling agency. It helps you to organize your debt, meet with a credit counselor who will offer you guidance, negotiate with creditors and create a plan to avoid debt in the future.
Pros
Cons
Bankruptcy is a federal protection program that allows businesses or individuals to eliminate debt and recover financially. There are two kinds of bankruptcy for individuals: Chapter 7 and Chapter 13. Chapter 7 bankruptcy is often called “liquidation” bankruptcy. In Chapter 7, borrowers may have to give up their assets to pay down part of their debt. The government may sell these assets to settle debts. Other debt may be settled or discharged. Chapter 13 involves approving a repayment plan that is negotiated between the borrower and creditors over a set period.
Pros
Cons
Working to negotiate, and potentially settle, your debt with your creditors can be an arduous and intimidating task. But if you can negotiate effectively, it could reduce your monthly payment, provide more flexible terms or even give you a lower amount to repay.
Pros
Cons
By clicking “See Offers” you’ll be directed to our parent company, LendingTree. You may or may not be matched with the specific lender you clicked on, but up to five different lenders based on your creditworthiness.
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Source: https://www.magnifymoney.com/blog/pay-down-my-debt/curadebt-debt-relief-review/
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