Debt Solutions Network
Is This Your Business?Author: Kaitlyn Short
The Debt Solutions Network, founded in 2000, is a debt relief company that prides itself on its customer service. According to the company's website, it helps customers eliminate 40 percent to 70 percent of their unsecured debt — including credit card debt, personal loans, payday loans, and medical bills — in three years or less.
The company works to consolidate debt payments into one lower monthly payment and negotiate with creditors to settle the client's debts for less than they owe, promising to find personalized solutions that work for each individual customer.
The company also stops calls from creditors and collection agencies, typically within one to two days after clients enroll in its services.
Continue reading for more information about the pros and cons of the Debt Solutions Network.
Top Ranked Companies
The Good
- Free Consultation and Financial Analysis
- Guarantee
- Free Credit Report
Free Consultation and Financial Analysis
The Debt Solutions Networks offers potential customers a free consultation and financial analysis. Free consultations are fairly common among other debt settlement companies, but the free financial analysis is an added bonus of using The Debt Solutions Network.
The company promises to take a look at the borrower’s individual financial situation and determine the best debt relief program for them, whether it’s the Debt Solutions Network’s program or help from another debt settlement or debt consolidation company.
Guarantee
The Debt Solutions Network guarantees that it will save its customers money. Customers don’t owe any upfront fees upon starting the debt settlement process; they only pay the Debt Solutions Network if it can settle their debt for less than they originally owed.
Furthermore, the fee is based on the amount of money the company saves the customer, not the total amount of debt they owe. This ensures customers only pay after the Debt Solutions Network has saved them money, and the company is incentivized to save them as much money as possible.
Free Credit Report
While the Debt Solutions Network isn't a credit reporting agency, it helps clients obtain their free credit report and score from credit bureaus. According to the company's website, it also helps customers clean up their credit reports and rebuild their credit after settling their debt.
The Bad
- Limited Website Information
Limited Website Information
Although the company’s website provides testimonials and a list of FAQs, the information about its settlement services and fees is vague. While the Debt Solutions Network only charges customers based on the amount of money they save, not on the total debt they owe, the website doesn’t mention what percentage of savings customers will have to pay the company. The company’s website also doesn’t offer many specifics about how its services work.
The Bottom Line
The Debt Solutions Network offers a free consultation, financial analysis, and credit report, making it an attractive option for customers looking for debt settlement or debt consolidation services. It even promises clients will only pay fees based on the money they save, rather than the debt they owe, which is unusual for a debt relief company.
However, the company’s website provides scant information on what percentage of money saved clients can expect to pay, as well as details about how its debt relief services work. If you need help with overwhelming debt, we recommend looking into other top debt relief companies that offer more transparency.
