This company doesn't currently service Virginia
Trident Debt Solutions is a smaller debt settlement company directed by attorney Stephen T. Craig that has knocked out over $4 million in debt since being founded. The company is attorney based, which has many benefits when dealing with creditors in the settlement process. However, the company does not have any of the other major industry accreditations, and the price tag for its services is pretty hefty.
- Can call for a free consultation
- Attorney on staff
- No charge if they can’t settle at least 25 percent
Thirteen years of experience is pretty solid in the industry and might be considered a benefit to some. Trident focuses on settling debts for at least 50 to 60 cents on the dollar. An interesting benefit to TDS is that if they are unable to negotiate at least a 25 percent reduction in the original debt, there is no cost for their service. TDS also offers potential clients a free consultation over the phone to help determine if they’re a good fit.
Another benefit is that the entire operation takes place under the umbrella of attorney Stephen T. Craig which affords some measure of professional accountability in the form of attorney-client privilege and forces creditors to call him, not the client.
- High minimum debt requirement to sign up ($30k)
- High cost – charges 25 percent of total debt saved
- They would not reveal what states they are in
No Industry Accreditations
One of the main concerns with Trident Debt Solutions is that it does not have the major industry accreditations that most other companies in the business have. TDS is not accredited with the American Fair Credit Council (AFCC) or the International Association of Professional Debt Arbitrators. These are accreditations that many consumers look for to ensure that the company is committed to the practices of the industry.
The biggest drawback to TDS is that they only take on very large cases, clients must owe at least $30,000 in unsecured debt in order to qualify for their services. Perhaps equally concerning is the very hefty price tag as TDS charges significantly more than their competitors at 25 percent of the total amount that you save. This is offset by the fact that they won’t charge if they can’t reduce the debt by at least 25 percent.
Additionally, they do not list what states they service on their website, nor would they disclose this information over the phone. One must provide information to them and they’ll have a representative call the client back with more details on what they can do.
Frequently Asked Questions
How Much Does Trident Debt Solutions Cost?
Trident Debt Solutions charges 25 percent of the total amount that you save.
Can I Get a Free Consultation?
Yes, the company offers a free consultation.
What Types of Debt Does Trident Debt Solutions Work With?
Trident Debt Solutions works with unsecured debts.
What Is the Minimum Debt Amount I Can Sign Up With?
Trident Debt Solutions requires quite a high amount of debt to get started: $30,000. This is much higher than many other companies in the industry.
About Trident Debt Solutions
Stephen T. Craig is the owner and managing attorney for Trident Debt Solutions. Craig is a licensed bankruptcy attorney, but the company offers an alternative to bankruptcy for those who are in a substantial amount of credit card debt. TDS gives clients the option of referring creditor calls to Craig, which they will charge $100 per creditor. The company has been in business since 2003 and has helped relieve over $4,600,000 of debt since then.
You will pay a fee of 25 percent of the total debt you save.
- Free consultation: Yes
- Personal consultant during the settlement: No
- AFCC accredited: No
- IAPDA accredited: No
Time in Business
Founded in 2003
Minimum Debt Requirement