Iconic Debt Relief
Author: Kaitlyn Short
Iconic Debt Relief is a debt settlement company that helps clients resolve $10,000 or more in unsecured debt in as little as 24 to 48 months. The company’s featured service is its Debt Resolution Program that provides clients with a personalized plan to reduce your debt and ultimately become debt free. The Debt Resolution Program covers most unsecured debt, such as credit cards and medical bills; and the Iconic Debt Relief negotiating team negotiates with various types of credits, such as credit card issuers and banks, to reduce debts.
Top Ranked Companies
The Good
- Iconic Debt Relief Debt Resolution Program
- Debt Resolution Coverage
- Free Debt Analysis
- No Payment Until Debt is Settled
Iconic Debt Relief Debt Resolution Program
Iconic Debt Relief’s feature service is its Debt Resolution Program that aims to free clients from debt as quickly and easily as possible.
Debt resolution services are designed to change the terms of a borrowing agreement and reduce a principal amount that is owed. Thus, by helping you secure more agreeable terms, Iconic Debt Relief helps you secure a position in which you can more comfortably pay down your debt. The Iconic Debt Relief Debt Resolution Program is primarily a debt negotiation program. Facilitated and carried out by the Iconic Debt Relief negotiation team, the Debt Resolution program includes negotiation with your creditors, including credit card companies and banks, to reduce your debt owed — in most cases, the Iconic Debt Relief negotiation team can negotiate your debt down by 50 percent or more. These debt negotiation services are available to provide assistance for a variety of circumstances, such as if you have missed payments or your accounts are maxed out and in collections.
It’s important to note that Iconic Debt Relief doesn’t provide lending services in which it would pay off your debt and then you’d make monthly payments to the company. Iconic Debt Relief only offers debt settlement/negotiation services that can secure you a lower debt amount.
Debt Resolution Coverage
Iconic Debt Relief’s services cover a variety of unsecured debt types, including the following:
- Credit cards
- Medical bills
- Payday loans
- Unsecured loans
- Private student loans
- Past due rent
- Repossessions
- Utility bills
- Foreclosures
Iconic Debt Relief does provide services that cover some types of secured debt; however, it isn’t clear which specific types of secured debt are covered.
Free Debt Analysis
If you’re interested in Iconic Debt Relief’s services, you can get a free quote/debt analysis on the company’s website. You’ll be required to provide your debt amount, your state of residence, and personal contact information; once you’ve provided the required information, you’ll be contacted by an Iconic Debt Relief representative.
No Payment Until Debt is Settled
You only pay for Iconic Debt Relief’s services once you agree to settle. If you choose to settle your debt, you will then pay a fee that will range from 15 to 25 percent of the debt settled.
This is a common payment method in the debt relief industry — you only pay for service once you’re completely satisfied with your service and agree to move forward.
The Bad
- Unclear Service Area
- No Credit Repair Services
Unclear Service Area
Iconic Debt Relief states that its services aren’t available in all states, including New Jersey; it’s unclear what other states are excluded from the company’s services.
It’s also important to note that Iconic Debt Relief services may vary by state.
No Credit Repair Services
Iconic Debt Relief is a debt settlement company that specializes in negotiating down your debt; it’s not a credit repair company. In fact, Iconic Debt Relief’s services will likely have adverse effects on your credit, which is a common and expected outcome from debt settlement services. Thus, if you’re looking for a company that can help you repair or build your credit through personalized recommendations and/or credit bureau connections, Iconic Debt Relief won’t be the solution for you.
The Bottom Line
Iconic Debt Relief is a debt settlement company that has an experienced team of debt negotiators that will work with your creditors to reduce your debt amount — the company can help you reduce your debt owed by 50 percent or more. You can choose whether or not to accept the settled amount, but you will only pay for Iconic Debt Relief’s services if you agree to your settled amount.
It’s important to note that Iconic Debt Relief is not a credit repair service. In fact, debt settlement services typically have an adverse effect on credit. Thus, if you’re in search of services to help repair and/or improve your credit score, Iconic Debt Relief’s services won’t be the best solution for you.
Iconic Debt Relief’s services cover a wide variety of unsecured debt types, such as credit cards, medical bills, and private student loans. Thus, if you’re consistently missing payments, your accounts are maxed out or in collections, and/or you’re experiencing financial stress, Iconic Relief could help you lower debt, making payment more manageable.
