Pacific Debt Inc. has been in the debt settlement industry since 2002. The company holds major industry accreditations with the American Fair Credit Counsel (AFCC) and the International Association of Professional Debt Arbitrators (IAPDA). In addition to experience and accreditations, Pacific Debt takes the #2 spot on our list of debt settlement companies because they offer their services at one of the lowest prices in the industry. Pacific Debt's pricing ranges from 15 to 25 percent of the total debt you enroll. The major downside to Pacific Debt is that their services may not be available in your state.
- High Savings, Low Cost
- Industry Accreditations
- Positive Customer Reviews
- Personal Account Manager
- Minimum Debt Standard
High Savings, Low Cost
On their website, Pacific Debt boasts how much they have reduced individual debt by--and it is impressive. In most cases, the company is able to reduce your debt by 20 to 50 percent--a significant amount in this industry. Not only can Pacific Debt reduce the amount you'll pay on each of your unsecured debts, but also they have low costs. To work with Pacific Debt, you will pay the company 15 to 25 percent of your total debt. On average, most of the companies we have reviewed charge an average of 21 to 24 percent.
According to consumers, one of the most important things a debt settlement company can offer is accreditation. Pacific Debt is accredited with the AFCC, and the IAPDA. Being an accredited member of the AFCC means Pacific Debt submits their website for auditing each year. The AFCC makes sure their accredited members conform to industry standards and strives to protect consumers.
Positive Customer Reviews
The most common review we see of Pacific Debt is that company representatives know what they are talking about when consumers call, and they keep consumers informed throughout the entire settlement process. Many clients also praise Pacific Debt for early settlements.
Personal Account Manager
Pacific Debt assigns each customer a personal account manager. This single point of contact works with customers throughout the entire negotiation and settlement process.
Minimum Debt Standard
To work with Pacific Debt, you must have the company settle a minimum of $5k for you. This is slightly lower than many competitors. Most companies have a minimum debt cut off ranging anywhere from $7.5k to $10k.
- Service Limited to Certain States
- Negative Customer Reviews
Service Limited to Certain States
While there are amazing perks to using Pacific Debt, unfortunately, they are not available to everyone. Pacific Debt only offers service in 27 states. This leaves just under half of the U.S. unable to take advantage of Pacific Debt's low cost, industry experience, and customer service. Many debt settlement companies are available in 40 or more states.
Negative Customer Reviews
Negative reviews of Pacific Debt are more difficult to come by than positive ones, but some clients have complained of being passed around between account managers. A couple reviewers mentioned they wish Pacific Debt could have settled their debts for less.