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Debt Advisor Reviews

6.8

bestfor-icon Streamlining or reducing monthly payments

angelawatson
Written by Angela Mae

About Debt Advisor | Read More

7

LS Score

6

Credibility

6

Support

8

Accessibility

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Contact Information Contact Information drop-down-btn
  • (855) 364-3328
  • Headquarters: 124 Broadkill Road #468, Milton, DE 19968
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Debt Advisor Debt Relief Review

Some of the lenders in Debt Advisor’s network offer personal loans and other financial services. Since Debt Advisor is a marketplace, expect to find different terms, rates, and eligibility requirements for each lender. Loan amounts and availability may also vary across lenders and states.

Debt Advisor Debt Relief Highlight

610

Min Credit Score

$2K-$40K

Loan Amount

Varies

Repayment terms

Yes

Soft Credit Pull

Marketplace

Lender Type

N/A

Other Fees

Varies

Origination Fee

Varies

Prepayment Fee

1

Funding Time

Pros & Cons

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  • con-icon Free consultation and free-to-use platform
  • con-icon Connect borrowers with various financial solutions, including debt settlement, debt consolidation, personal loans, and bankruptcy consultation
  • con-icon Active American Fair Credit Council member
  • con-icon Helps with different types of debts (ex. tax debt, medical debt, credit card debt)
  • con-icon Limited information on their website
  • con-icon No financial education resources
  • con-icon Not a direct lender

Debt Relief Product Types

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  • Debt relief consultation service
  • Debt consolidation loans
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Debt Advisor Debt Relief Terms & Requirements

Debt Advisor does not provide specific requirements about the different personal loans available through its partners. Instead, it has a few general requirements, such as:

  • Be at least 18 years old
  • Have steady income ($1,000 minimum each month)
  • Be currently employed (for at least a month)
  • Have up-to-date home and work phone numbers
  • Have a valid bank account with your full legal name

Compared to other marketplaces, these terms are quite lenient. The downside is that the specifics are very vague and are only available once you’ve been matched with a specific lender.

How to Apply

Debt Advisor’s application process is online and easy to navigate. To begin, use the slider to indicate how much you want to take out in a loan. From there, provide some basic details such as your full name, date of birth, and contact information (ex. physical address). There won’t be any hard inquiry into your credit check at this point.

Once you’ve completed the application, you’ll typically be connected with a debt advisor or representative who will offer a free debt consultation and discuss your options. They will also suggest the best lender for your situation. You can then move forward with that lender and complete their application, which involves a hard credit pull.

Qualification Requirements

  • Credit score & credit history None indicated
  • Income $1,000 a month
  • Job status Employed
  • Citizenship/residency US citizen
  • Age 18 years old
  • Debt-to-income ratio Undisclosed
  • Co-signer May be accepted, not required
  • Bank account May be needed for funds disbursement
  • Required documents Proof of identity, employment, and debt

Required Information

The specific information required depends on the lender. However, you’ll typically need to provide details regarding your identity, employment, and debt profile. You will also need to undergo a hard credit check when applying for a specific loan.

Some individuals are not eligible for Debt Advisor’s services. This includes active military personnel and residents of Connecticut, New Hampshire, Vermont, and Washington.

Application Steps & Time Frames

  • Debt Advisor’s application process takes less than 5 minutes to fill out and is simpler than others in the industry.
  • The time to funding depends on the lender, but some people received money within 1 business day after approval.

State Availability

Available - Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, West Virginia, Wisconsin, Wyoming

Not Available - New Hampshire, Pennsylvania, Vermont, Washington

angelawatson
Written by Angela Mae

Angela Mae is a personal finance writer specializing in loans, debt management, investing, retirement planning, and financial literacy. She comes from a journalistic background and pulls from hands-on experience and deep-dive research to breathe life into her stories. Her goal is to help others achieve financial stability and independence. When not writing, she can be found traveling, honing her yoga skills, hiking, or exploring new means of healthy, sustainable living.

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FAQ’s

What does Debt Advisor primarily do?

Debt Advisor can help connect individuals to direct lenders that offer things like debt relief, debt consolidation, and other loans.

What is the cost of using Debt Advisor?

Using the platform is free, but each lender may have its own fees.

Does Debt Advisor affect your credit score?

No, the initial application process doesn’t impact your credit. However, applying for a loan with a lender typically results in a hard inquiry. This may bring your score down by a few points.

Customer Support

There are three main ways to contact Debt Advisor: an online contact form, direct mail, or phone. Response times vary, but a representative will typically respond within a business day or so to phone inquiries.

Debt Advisor does not have a time-limit promise, nor does it provide dedicated support once the applicant moves on to one of its partner networks. The marketplace also doesn’t have a Trustpilot or BBB page, so there are limited customer reviews online.

Privacy & Security

Debt Advisor has a dedicated privacy policy page detailing the information they collect, how they use it, and how they protect it. General information (ex. network traffic, personal or financial data, and debt amount) and third-party information (ex. from publishers or marketers) is collected. Debt Advisor may use this information to improve user experience or pass it on to lenders in its network.

In terms of security, the marketplace has various security measures to protect people’s data. This includes encrypted technology for any online forms. If a security breach occurs, Debt Advisor will notify you as soon as possible.

Finally, Debt Advisor tries to limit any data they send to their service providers to what’s necessary for receiving a financial service.

In Conclusion

Debt Advisor offers a straightforward application process that only takes a few minutes to complete. Once completed, you’ll be connected with potential lenders. Although Debt Advisor’s main goal is to help people deal with unmanageable debt, certain lenders in its network offer other products and services like personal loans.

The main drawbacks include limited general information about the different financial services offered, such as eligibility and specific terms. It’s also tricky to find specific information for non-debt relief services.

Brand Disclaimer

THE OPERATOR OF THIS WEBSITE IS NOT A DEBT RELIEF PROVIDER, LENDER, OR FINANCIAL SERVICE PROVIDER. The operator of this Website is not an agent, representative or broker of any debt relief provider, lender, or financial service provider and does not endorse or charge you for any service or product, but may receive compensation from the debt relief provider, lender, or financial service provider for forwarding your information to them. This Website does not constitute an offer or solicitation to lend. If you submit a request through this Website, we will share your information as may be required in order to connect you with selected providers of the services you request. By submitting your contact information to us, you are expressly consenting to be contacted by us or by one or more providers of products and services by telephone, email or postal mail. Your information may be going to an aggregator or marketer and not a debt relief provider, lender, or financial service provider. Your information can be sold multiple times leading to multiple offers from debt relief providers, lenders, financial service providers, aggregators, and other marketers. Providers who buy your information may supplement it with additional information about you that they obtain from other sources.

We make no promises regarding the ability of the debt relief or financial service providers to reduce the amount of your debt by a specific amount or percentage, or within a specific period of time. For details, questions or concerns regarding the debt relief services, please contact your debt relief provider or financial service provider directly. Not all lenders can provide your requested type of loan and/or loan rate or terms, and we make no promises that you will be able to obtain a loan. Cash transfer times may vary by lenders and/or lending partners and local laws. Lenders may perform a credit check to determine your creditworthiness. Lenders are solely responsible to you for all aspects of any loan request or loan transaction, including compliance with all applicable laws and regulations relating to your loan request form and any agreement or disclosures relating to your loan request form or loan transaction (including any adverse action notices or Truth-in-Lending Act disclosures).

The operator of this Website does not recommend, endorse, warrant or guarantee the products or services of any third party and is not party to any discussions that you may have or agreements that you may make with any third party. Your business dealings with any third parties, including any debt relief provider, lender, or financial service providers are solely between you and such third party. We are not responsible to you for any terms, conditions, warranties or representations associated with such dealings or liable for any loss or damage of any sort incurred as a result of such dealings. The use of debt relief services may adversely affect your creditworthiness, may result in you being subject to collections or being sued by creditors or collectors and may increase the outstanding balances of your accounts due to the accrual of fees and interest. Short-term loans are an expensive form of credit and not a long-term financial solution. Please use short-term loans responsibly

This service is not available in all states, and the states serviced by this Website may change from time to time and without notice. Residents of PA are not eligible to submit a request for debt relief on this Website. Residents of CT, NH, VT, and WA are not eligible to submit a request for loans on this Website. © Copyright 2018 – 2023. Debt Advisor. All Rights Reserved. All trademarks, service marks, trade names, product names and logos appearing on the site are the property of their respective owners. Any rights not expressly granted herein are reserved. Loan Example: A $10,000 loan with a 5-year term at 13% Annual Percentage Rate (APR) would be repayable in 60 monthly installments of $228 each. The actual payment amount and year-end balance will vary based on the APR, loan amount, and term selected. In this case the total amount expected to pay by the borrower will be $13,680