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Debtmerica Review

Jessica Cotzin Jessica Cotzin Last update:
Minimum debt
$10,000
Credit Score
Poor +

Overview

Debtmerica is a well-established and accredited debt resolution company that has been in business for over a decade.

While some financial institutions focus on debt consolidation—which works by combining multiple sources of debt into one single loan (typically with a lower APR)—Debtmerica specializes in alternative solutions for those with a substantial amount of unsecured debt, like negotiating lower balances with creditors.

Debtmerica has established relationships with service providers and their access to creditors to help reduce your total debt amount while offering one low monthly payment, which can be as little as half of your current combined monthly payments to creditors.

Their programs for lowering debt are a good option for those with unsecured debt balances of at least $10,000. If your debt is less, their specialists can guide you to a better debt alternative, like consumer credit counseling and debt consolidation.

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Debtmerica Pros

  • Free consultation.
  • IAPDA accredited debt specialists.
  • Money-back guarantee
  • No upfront fees

Debtmerica Cons

  • Not available in all 50 states.
  • Need a minimum of $10,000 to be considered for their programs.
  • Their debt programs will temporarily decrease credit score
Free Quote

Application Process

To get started with the application process for Debtmerica, you can call or visit their website and click on “Get Free Quote” to submit your information to their debt specialists and learn more about their programs.

When filling out their quick online form, the only information you’ll need to provide is how much debt you have and what state you live in. If you meet the minimum debt amount and reside in a state where they offer their debt programs, you’ll qualify for a free evaluation.

From there, you can submit your name, email address, and phone number to be contacted by a Debtmerica agent. They’ll send you an email the same day and contact you via phone to review debt solutions that fit your financial situation and your budget.

To prepare to speak to their specialist, Debtmerica encourages applicants to get a copy of their credit report, which can be done for free and online with any major credit bureau, like TransUnion, Experian, or Equifax.

If you decide to work with Debtmerica, your debt can be reduced in as little as 24-48 months. There are no upfront fees for their debt programs and they even offer a money back guarantee.

Terms & Requirements

Debtmerica works on a contingency fee basis, meaning you’ll only pay for the service if they’re able to successfully reduce your debt. Their fees are very comparable to other companies offering the same services.

Requirements

  • Must have a minimum of $10,000 in unsecured debt or business debt
  • Debt types: credit card debt, payday loans, personal loans, and some types of student loans
  • Must be located in one of the 27 states they’re available in
  • No credit score minimum

Terms

  • Terms will vary depending on your financial profile and debt amount
  • Debt may be reduced in as little as 24-48 months
  • Percentage of debt fee is 18.25%-25%
  • Clients able to make the monthly payments on the program will generally experience a 50% reduction of their enrolled balance (before fees)
  • Results may vary based on the ability to complete the program and save sufficient funds, amount of debt enrolled, and the creditors in your individual portfolio.

Privacy & Security

Debtmerica is a well-established company that has been in business since 2006. They’re accredited by the International Association of Professional Debt Arbitrators (IAPDA) and a member of the American Fair Credit Council (AFCC).

Debtmerica takes privacy seriously and does not sell or share client information with third parties. They protect your personal information using security measures that comply with federal law.

Customer Support

Once you fill out their online form, a debt specialist from Debtmerica will contact you via phone within 24 hours to discuss debt solutions for your specific financial situation.

Even if you don’t qualify for their debt programs, their agents will help guide you to the best solution.

You can contact Debtmerica via phone or online form. Their website also has a FAQs page which includes information about their debt solutions, who it’s for, what the fees are, and other questions you may have.

Final Thoughts

Debtmerica is a well-established firm that has been in the business of debt solution alternatives to those who need it for well over a decade. They are IADPA and AFCC accredited and work with clients who have unsecured debt or business debt.

Their fees are comparable to competitors and their business model works on a contingency fee basis, so you don’t have to worry about paying any fees unless your debt is successfully reduced.

There isn’t a one-size-fits-all solution when it comes to tackling debt, and their program isn’t for everyone. You can submit your information using their quick online form to speak with one of their trained debt specialists to learn more about the right debt option for you.

Address

3100 S. Harbor Blvd., Suite 250

Santa Ana, CA 92704

Disclosure
This website is an informative comparison site that aims to offer its users find helpful information regarding the products and offers that will be suitable for their needs. We are able to maintain a free, high-quality service by receiving advertising fees from the brands and service providers we review on this website. These advertising fees, combined with our criteria and methodology, such as the conversion rates, our team of reviewer's finding and subjective experience and product popularity, impact the placement and position of the brands within the comparison table. In the event rating or scoring are assigned by us, they are based on the position in the comparison table, or according to other formula in the event specifically detailed by us. See our How we Rate page and Terms of Use for information. The reviews, rating and scoring are provided “as-is” without guaranties or warranties regarding the information contained in our website, which shall not be considered as endorsement. We make the best efforts to keep the information up-to-date, however, an offer’s terms might change at any time. We do not compare or include all service providers, brands and offers available in the market.
Jessica Cotzin Jessica Cotzin
Jessica Cotzin is a writer and the Lendstart authority on small businesses and personal loans. She has been writing about personal finance and the loans industry for a number of years, and holds a bachelor’s degree in journalism from Florida Atlantic University.
This review is based on the writer's personal opinion.