Armada Debt Solutions is a full service debt consolidation company that started in 2009. The company boasts that its reputation with creditors enables it to re-age old accounts, suppress finance charges, reduce interest rates, stop harassing phone calls, and eliminate late fees.
Armada claims that its debt relief specialist can help customers find the debt relief program that works best with their unique financial situation. With Armada’s programs, it takes consumers 12-48 months to be debt free, on average. Additionally, Armada does not explain fees, costs, or interest rates.
The process first begins with a thorough financial analysis. The company then creates an affordable payment plan designed to best fit one’s financial circumstances. Armada’s consolidation services are not structured the same as many companies in the industry. In fact, Armada offers debt settlement through their consolidation services. The company’s program is ideal for people receiving collections, or people who would like to avoid filing for bankruptcy.
Armada negotiates the customer’s owed debt balance. Payments are then sent right to the customer’s creditor. After the payments are setup with the creditor, the customer will report the monthly payment.
Armada can potentially negotiate a given customer’s balance down by 50 percent, without interest. Additionally, the company claims they can negotiate one’s interest rate down to 3 percent without borrowing money. Armada’s balance liquid consolidation program claims to resolve debt in just 12-48 months, a time period they claim is shorter than average in the industry.
People can receive a free, no-obligation consolidation savings quote. Those who are interested can fill out an online form or call in. Though this service is standard for the industry, it might be a good option for those interested in Armada’s consolidation services. Especially since the website does not provide much in terms of information on the company’s consolidation program.
Tries to Limit Fees
The website does not provide any information on Armada’s program fees; however, Armada does make a point to call the customer’s creditors and request that all late fees and over-limit fees be stopped. For people that are late on their payments, this program could be very helpful. Armada boasts this is possible because of its relationships with creditors. Additionally, the company’s credit card debt settlement percentages are lower because of its proven five-year track record negotiating with creditors.
Consolidation Creditor Reputation
Armada’s relationships with creditors and agencies across the US allow them to suppress finance charges, consolidate and settle balances, and stop late fees. The company’s national credit card debt settlement program has a network of thousands of creditors. Additionally, the reputation makes it possible for Armada to potentially stop collection calls.
No Information on Fees or Costs
The website does not provide any specific, numerical information on fees, rates, or costs. It is unclear whether or not Armada charges cancellation, late, upfront, or monthly fees. This is necessary information to know when exploring debt relief options.
Armada also does not say if it has a minimum debt requirement for consolidation services.
Customers online have said that Armada helped them with as little as $3,000 worth of debt, but this cannot be confirmed since the website lacks transparency. If this is true, that price point is markedly lower than other companies in the industry, which require a $7,500 or $10,000 minimum debt requirement.
Armada deeply lacks accreditations. The company is not ISO, AFCC, or IAPDA accredited. Additionally, Armada does not state if its counselors are certified in any way.
No Consolidation Resources
While educational resources are not necessarily required for companies, they are convenient to have for people wanting to learn more. Armada does not provide any kind of consolidation educational resources. In fact, the company does not provide any educational resources on anything debt or financial related.
No Money-Back Guarantee
Many top companies in the industry back their programs with some kind of satisfaction guarantee. It is assumed Armada does not include a money-back guarantee with its services since the website provides virtually no information on one.
Website Not Transparent
The website is not helpful when it comes to Armada’s debt relief programs. The company does not explain their consolidation services in depth, at all. Armada really only describes its debt settlement services—rather than explaining the consolidation program as a whole.
Additionally, the website does not explain what states its consolidation services are available in.
Furthermore, the company’s website has multiple spelling and grammar errors, making their consolidation services not as credible-looking as they could be. It is unclear whether or not the consolidation services include a consolidation loan.