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Debt Advisor

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LAST UPDATED: June 22nd, 2021

Debt Advisor is not a debt relief company itself; rather, it is a company that acts as a marketplace of sorts for other debt relief companies. Customers use Debt Advisor to learn what debt relief options might be available to them, and then Debt Advisor forwards your information in the form of a referral to the company you choose to work with to resolve your debt.

Because Debt Advisor makes its money not from providing services directly to customers but rather through referral payouts from the debt relief companies it refers people to, it doesn’t charge anything to you to seek its advice. 

However, customers should be aware that Debt Advisor is under no contractual obligation to recommend the best company for your debt relief needs; in fact, it may end up simply recommending the company that bid the highest for a referral. 

The company is based in Delaware but operates mainly through its website, so those seeking debt relief companies across the country could benefit from using Debt Advisor.

Read on for our Debt Advisor review, but be aware that it is not a company that directly provides debt relief services to you.

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The Good

  • Transparent
  • Certification
  • Easy to Use
  • Types of Debt

Transparent

We appreciate that Debt Advisor includes visible disclaimers on its website that it does not provide debt relief services or lend money. Rather, the company is designed to help you understand the debt relief options available to you and pair you with a company that can help you consolidate or settle your debt.

The company is also transparent about the fact that it accepts money from the companies it refers you to. On one hand, this is a benefit to customers because they don’t have to pay to seek the advice of Debt Advisor.

On the other hand, knowing that Debt Advisor receives payment for its recommendations to you makes it a little harder to trust that it truly has your best interest in mind.

Certification

Debt Advisor is an Industry Alliance member of the American Fair Credit Council (AFCC), which seeks to help consumers find trustworthy debt settlement companies to work with. We appreciate that Debt Advisor has this status, as it validates the company and what it is trying to do.

Easy to Use

Debt Advisor makes the process of finding a debt settlement company much simpler for consumers. You simply go to the company’s website, enter some basic information about your debt situation, and Debt Advisor will suggest companies that can help you resolve or settle your debt. 

We suggest using Debt Advisor as a research tool to find a good debt relief company for you, but not as your only resource, since the company does receive payment from the companies it recommends to you.

Debt Advisor is also not partnered with every debt settlement company out there, so you may be able to find another one through your own research that better fits your needs.

Types of Debt

If you have any of the following types of unsecured debt, Debt Advisor can help you find a debt relief company to work with:

  • Credit card debt
  • Student loan debt
  • Tax debt
  • Personal loan debt
  • Medical debt

We can’t find any evidence that Debt Advisor could help with other types of debt, such as secured debt.

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The Bad

  • Not a Debt Relief Company
  • Business Model
  • Lacking Information on Website

Not a Debt Relief Company

Debt Advisor does not offer a debt settlement program, debt management program, debt consolidation, or any money lending services. It is simply in business to connect customers to debt relief companies by partnering with multiple debt relief providers across the country and referring customers to them.

Business Model

As mentioned above, Debt Advisor makes money by referring customers to debt relief companies that then pay Debt Advisor for the referral. This model incentivizes Debt Advisor to recommend you to companies that pay it more, rather than companies that might actually be the best fit for your debt relief needs.

However, the company is open about its business model and encourages customers to do research on their own as well before simply accepting Debt Advisor’s suggestion.

Lacking Information on Website

We would love to see more information about the different types of debt relief companies that exist and how to pick the best one. Especially since Debt Advisor’s primary role is to pair consumers with debt relief companies, we would like to see Debt Advisor providing more information about how debt relief works and what to look for in a company, so that consumers are empowered to choose the best debt relief company for them.

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The Bottom Line

Debt Advisor is not a debt relief company but rather pairs consumers with debt relief companies and provides general debt advice. The company does not charge to use its services, however, so if you are in the research phase of finding a good debt relief company, you can certainly see if Debt Advisor can find you a good match.
 
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