ZipDebt was created by Charles J. Phelan, a former debt negotiator and industry expert on settlement. ZipDebt has programs for both consumers and businesses in debt. Each program has different features and abilities.
- Available in all 50 states
- No minimum debt requirement
- Money back guarantee
ZipDebt is available in all 50 U.S. states, this is very rare in the industry.
No Debt Requirement
ZipDebt does not have a minimum debt requirement. This is especially convenient since most debt settlement companies average at about a $7,500 minimum debt requirement.
365 Day Money Back Guarantee
The company has an iron clad money back guarantee. If you are not satisfied with the program, you are given 365 days to return the files with no risk. To complete a return, you just have to write Mr. Phelan a signed letter that all ZipDebt files have been deleted from your computer.
- Pricing information is not available online
- Do-it-yourself program
- Not accredited
Lack of Pricing Information
ZipDebt does not provide any pricing information on its corporate website.
Not For Everyone
Because these programs are do-it-yourself, necessary skill and knowledge of debt settlement are required to a degree. People using these programs should expect an increased amount of work, and potential financial stress. Additionally, most people that don’t work for a financial company do not have established relationships with top creditors like debt settlement representatives might. Customers may not have the leverage to negotiate debt like a debt consultant, or financial lawyer would.
Customers Leery Of Do-It-Yourself
Many do not like that with this program you take 100 percent responsibility. You do everything yourself. If something goes wrong with the creditors, you have to fix it rather than a company taking care of everything for you.
ZipDebt is not IAPDA or AFCC accredited, and does not mention anywhere on their website whether or not the business is 100 percent FTC compliant.
Frequently Asked Questions
How Much Does ZipDebt Cost?
ZipDebt has not disclosed this information.
Can I Get a Free Consultation?
They offer a free 20 minute consultation with their “Negotiation Expert” Charles Phelan. Before the consultation, prospective customers are encouraged to have a list of all their creditor’s names as well as the amounts due to each creditor. Also, a list of questions to ask during the consultation and a completed form that is included on the website which will include a description of your current debt situation and financial background. They will then give you a call during a weekday, typically within a couple business days, though they can’t schedule a specific appointment to talk.
What Types of Debt Does ZipDebt Work With?
Unsecured loans are the only loans that ZipDebt is able to counsel. Unsecured loans include store charge cards, medical bills, and credit cards. They are not able to help with secured loans such as mortgages, home equity lines of credit, foreclosures, IRS debts, or short sales.
What Is the Minimum Debt Amount I Can Sign Up With?
There’s no specific minimum debt required. It is up to the person in debt to determine if their circumstances are dire enough to require some extra assistance to get it resolved. Anyone is free to purchase the CD’s, videos, or seminars.
ZipDebt is unique in the debt settlement industry. Instead of offering their settlement service, the site teaches you how to settle your own debts. Since 2004, ZipDebt has been selling personal coaching material on settling and getting out of debt. The company is relatively small, with less than ten employees, and is run primarily by Charles J. Phelan, a debt expert.
- Free consultation: Yes
- Personal consultant during the settlement: Yes
- AFCC accredited: No
- IAPDA accredited: No
Time in Business
Minimum Debt Requirement