SettleBankDebt.com

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SettleBankDebt.com Logo

7.3

Overall Score

17 User Reviews

2 months ago

SettleBankDebt.com

verified
This company charges 10 percent in fees

SettleBankDebt.com works solely with clients who are already behind on payments enough to settle, often with accounts that are over six months past due. SettleBankDebt.com focuses on fast settlements for eligible clients and is upfront about whether or not debt settlement is right for individual consumers. The company has been in business since 2010 and has offices in Florida and New York.

Its debt settlement services operate under the name SettleBankDebt.com and used to be called DS Financial Services. The company offers a basic website with limited information on its services, pricing, and company.

The Good

  • A Different Approach
  • No Trust Account
  • No Fees When You Sign Up
  • Time in Business

A Different Approach

SettleBankDebt.com conducts business slightly differently than others in the debt settlement industry. This may be good or bad depending on individual circumstances. Most debt settlement companies will have clients stop making payments on debts immediately after they sign up. Representatives of SettleBankDebt.com only take on unsecured debts that are either currently in collections or have already been declared delinquent. Then, like other companies, it offers free advice and a consultation over the phone. This is good for those who have gone delinquent and have no one else to help them.

No Trust Account

After signing up with SettleBankDebt.com, instead of having clients set money into a trust account, it has clients build funds on their own. The more debt you have, the less of a percentage you pay to the company.

No Fees When You Sign Up

SettleBankDebt.com doesn't charge any fees when you sign up.

Time in Business

SettleBankDebt.com has over 20 years of industry experience. 

The Bad

  • Limited Website Information
  • No Accreditations

Limited Website Information

The SettleBankDebt.com's website lacks key information; for example, the company does not disclose any information about pricing or debt minimums on its corporate website. These are important things to know before signing on with a debt settlement company.

No Accreditations

SettleBankDebt.com is not accredited with the AFCC or the IAPDA. These accreditations show that companies are using best industry practices.

The Bottom Line

In the end, SettleBankDebt.com is different than the majority of debt relief companies. It requires your accounts to already be delinquent and it does not require that you set money aside each month in a separate bank account. While this option won't be right for most people, it's a good option for those who have gone delinquent and do not qualify for other debt settlement programs. However, if your accounts are currently not delinquent, we recommend choosing a company with lower fees and industry accreditations.

View Best Debt Relief Companies

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User Reviews

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Tvrtko Cizmek
June 25th, 2018 Skokie, IL

Settlebankdebt.com helped me a lot. They are the best! After the divorce I had several credit cards with total debt of $165,000. settlebankdebt.com reduced that amount down to $44,000. I paid settlebankdebt.com $12,000 for their service. I paid even more than they asked for as a bonus for their great work. Settlebankdebt.com did all the work. They called banks and spoke with different departments there. All I did was one phone call to each bank at the end to confirm the settlement and send money. I was quite skeptical regarding credit card debt before. I called banks on my own and asked for debt reduction or any other help. I called several banks and none of them even wanted to discuss any debt reduction or provide any help at all. Settlebankdebt.com knows what needs to be done and they stay on top. They kept me updated through the process, sometimes with several calls during the day (as they negotiated settlement with the banks). If you have credit card debt, settlebankdebt.com is the best for you.

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Leah
June 7th, 2018 East Stroudsburg, PA DETAILS
Value for your money
Quality of product or service
Customer service
Company trustworthiness

This company was very helpful. They told me what to expect from each creditor based on there experience with them. They resolved all of my delinquent credit card debt within months. My credit has almost rebounded and I have zero debt except for my mortgage and car payment I owe them a great deal of gratitude and would highly recommend them based on there transparency and ability to get the job done.

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Amy Ward
June 14th, 2018 Alexander City, AL DETAILS
Value for your money
Quality of product or service
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Company trustworthiness

Sherman was so knowledgeable and kind when helping us through a difficult situation. We were able to get our debt settled at a fraction of the cost.

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Ann Miller
June 5th, 2018 Plano, TX DETAILS
Value for your money
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Settlebankdebt.com did wonders for me. I was a nervous wreck until I spoke with them. They did actually what they said would do. I would refer them in a heart beat.

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Mark
June 4th, 2018 Simi Valley, CA DETAILS
Value for your money
Quality of product or service
Customer service
Company trustworthiness

Sherman provides you with straight and accurate information. Everything he prepared me for was spot on. It gave me a sense of security knowing that I had someone really looking out for me. His fees are fair and his results are fantastic! I highly recommend his services!

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stuart
June 4th, 2018 Champaign, IL DETAILS
Value for your money
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Sherman did an outstanding job for me. He was with me every step of the way and even helped me restore my credit.

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Jennifer
June 4th, 2018 Turbeville, SC DETAILS
Value for your money
Quality of product or service
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Company trustworthiness

Sherman is wonderful! Walks you through every step of the process. He is honest and does what he says he will do.

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Tom Livingston
June 1st, 2018 Newmanstown, PA DETAILS
Value for your money
Quality of product or service
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Company trustworthiness

These guys saved my neck. I had recently dissolved a Partnership and was left with a 44K CC debt. Sherman was amazingly nice and helpful and we settled for 13K in no time. He "held my hand" through the whole process. I recommend his services highly!

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DANNY LAICAJ
June 1st, 2018 Forest Hills, NY DETAILS
Value for your money
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Company trustworthiness

Very good company, i recommend them, they helped me a great deal and took care of all the credit problems for me.

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Diana Sue Parkee
June 1st, 2018 Sun City, CA DETAILS
Value for your money
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Company trustworthiness

Sherman is Amazing and helped not only with getting me a great settlement so I could keep my Big Blue Barbie Bus but also I felt so relieved knowing he was behind me all the way. Great Guy! Can not say enough to positive feedback about Sherman & his company.

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Carey Ackerman
June 1st, 2018 Minneapolis, MN DETAILS
Value for your money
Quality of product or service
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Company trustworthiness

SettleBankDebt.com really helped me through a tough time financially after my divorce. They were really understanding and great to work with to get my debts settled. They saved me thousands of dollars in the process. I will be forever grateful for their help!

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Jenn
June 1st, 2018 Salt Lake City, UT

Sherman at SettleBankDebt.com saved my home. I was in the middle of escrow when an old medical collections bill hit my credit and caused my score to go from 744 to 577 overnight. I was told by my lender that the only way I'd be able to get the house was to get a letter of deletion, but when I called the collections agency, they told me they didn't even DO letters of deletion. I found SettleBankDebt.com on Reddit, and calling that number changed my life (I know that's a tired cliche, but in this case it's totally true). Sherman took the case and told me I wouldn't have to pay until the letter was delivered. It took him a few days of calling, but he kept me informed every step of the day. In fact, I was a nervous wreck, but he was incredibly patient and reassuring and kept me calm throughout the whole ordeal. I received the letter of deletion, had my credit rescored, and closed escrow with a 778 credit score. The debt world is scary, and there are plenty of people who prey on the under-informed and desperate. If you trust one company, trust this one.

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Ahmad Mahmoud
June 1st, 2018 Arlington, VA DETAILS
Value for your money
Quality of product or service
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Company trustworthiness

Peace of mind, that’s what you will get, Sherman will be your shield from predators and will reassure you so you never feel overwhelmed

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QUINESS
May 18th, 2018 Phoenix, AZ DETAILS
Value for your money
Quality of product or service
Customer service
Company trustworthiness

This guy is the Dave Ramsey of credit I don’t know who is better thank you for helping me every step of the way....... your money goes directly to the credit..... highly recommended

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Laurene
March 9th, 2018 Tacoma, WA

Hi my name is Laurene and I am just trying to get my self together. I want to buy a house in the near future. I want to invest in a home for me and my children. Thank u very much.

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Johhny
March 28th, 2017

Very honest. when you talk to a debt adviser you don't feel like you are talking to a sales person. They cut to the chase and tell you the pros and the cons.

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Wilkens Bale
April 26th, 2016

A great company. DS Financial saved me just over $40K and did it with personal attention and in FAST. No big company non-sense and bad service. I even dealt directly with the owner of the company. Not bad service. Big and accredited is not always better, especially nowadays when business is purely started for profit ignoring customer service. Fully recommend DS Financial Services for any sort of consumer debt settling.

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