Debt.com Review – Debt Relief That Really Works
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No matter what your financial situation is, Debt.com is sure to offer some educational tools that can benefit you.
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If you’re struggling with debt, you’re not alone. According to 2023 Experian data, the average total debt balances increased by 2.3% to $104,215 in 2023. The truth is that debts add up quickly. Buying a house, taking out student loans for college, and using credit cards can all contribute to your total household debt.
Fortunately, there are ways to lower your debt. Debt.com is a company that can match you with solutions that can help you achieve your financial goals in a way that works for you. Even after you become debt-free, you can still use Debt.com’s educational resources and tools to keep you on top of your personal finance game.
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What is Debt.com?
Debt.com is a company based in Plantation, Florida, that can help you explore debt relief options. It comprises financial industry veterans, certified credit counselors, and journalists who can help you learn how to become debt-free. The company also offers a service that can match you with debt solutions based on your needs.
Our Certified Debt Counselors Help You Achieve Financial Freedom Faster.
- Apply for a Quote.
- BBB A+ Accredited.
- No Fees To Start.
- One Monthly Payment.
- Free DebtConsolidation Quote.
- Satisfaction Guaranteed.
- Avoid Bankruptcy.
- Free Debt Analysis.
Not available in CT, OR, VT, WV.
How does Debt.com work?
The home page of Debt.com’s website allows you to jump right into finding a debt solution that suits you. All you need to do is select the option that best reflects your need for help. Then, you’ll click on the “Get Started” button. I chose Student Loan Debt in this case.
The next step is to enter your owe amount, which is on a sliding scale from $1,000 to $100,000+.
Since this example is for student loan debt, the next question asks about your student loan types.
You’ll also need to enter the current status of your loans. If you’ve been keeping up on your monthly payments, you’re probably current on your loans. But if you’ve missed some payments, you might be behind. Deferment would be if your loan servicer allowed you to reduce or stop making payments for a certain period of time.
The final step of this process is to enter your zip code. This allows the website to match you with available debt solutions in your area.
If Debt.com can match you with solutions in your area, you’ll be brought to the contact form. This allows a student loan specialist (in this case) to contact you to discuss your options.
Our Certified Debt Counselors Help You Achieve Financial Freedom Faster.
- Apply for a Quote.
- BBB A+ Accredited.
- No Fees To Start.
- One Monthly Payment.
- Free DebtConsolidation Quote.
- Satisfaction Guaranteed.
- Avoid Bankruptcy.
- Free Debt Analysis.
Not available in CT, OR, VT, WV.
How much does Debt.com cost?
Debt.com is a free service that can help connect you with debt solutions. You are not obligated to use any of the solutions that Debt.com connects you with. If you use a service you found through Debt.com, the company will make a commission from the partnering service. You don’t need to pay anything to Debt.com.
That said, if you use Debt.com, you should be aware of the costs associated with some of the solutions it may recommend.
A common debt solution is to refinance student loans or take out a personal loan to consolidate your debt. Here are some costs to be aware of when considering a loan.
Origination fee
Some lenders charge an origination fee with loans. This one-time charge covers administration and processing costs. The origination fee typically ranges between 1% and 6% and is deducted from the loan amount. Some lenders may use a flat fee instead of a percentage.
However, lenders don’t always charge origination fees. It’s a good idea to shop around and compare loans to see if you can find a lender that does not charge a fee for processing your loan.
Interest
The biggest cost associated with loans is interest. Your interest rate is the amount the lender charges you monthly for borrowing money. With each monthly payment, part of your payment will go toward the principal payment, which is the amount you borrowed. The rest will go toward your interest payments.
Fixed interest rate
A fixed interest rate is an interest rate that is locked in for the entire lifetime of your loan. Fixed interest rates make it easier to factor your loan repayment into your budget because the monthly payments will never change.
Variable interest rate
Variable interest rates can change throughout the lifetime of your loan. When you take out the loan, your interest rate will be based on the current market’s interest rates. Then, the interest rate is subject to change moving forward. Market fluctuations may change the variable interest rate of your loan monthly, quarterly, or even annually. When you take out a loan with a variable interest rate, you take the risk of your monthly payments increasing or decreasing depending on the interest rate fluctuations.
Late fee
Most lenders charge a fee if you don’t make your monthly payment by the due date. Some lenders may offer a grace period or one-time forgiveness for late payments, while others might not charge late fees at all. It’s important to review the terms of your loan to see what your lender’s policies are regarding late payments.
Early payoff penalty
When you take out a loan, you’ll have a specified repayment period. Lenders rely on interest payments throughout this period, so if you pay off the loan early, the lender profits less. That’s why some lenders charge an early payoff penalty—a prepayment penalty—if you pay off your loan before your loan term ends. The early payoff penalty might be a percentage of the balance you paid off, a flat rate, or the interest you would have owed if you completed the loan term.
Debt.com features
In addition to connecting people with debt solutions, Debt.com offers a few other features to help you manage your finances.
Debt relief resources
Debt.com's website includes information about several debt relief topics. You can learn about developing a debt relief plan for credit card debt, including government debt relief programs and other options. For student loans, you can review debt solutions, including federal student loan relief, student loan forgiveness, or refinancing. The site also has information about private student loan debt settlements.
A less commonly talked about form of debt is tax debt. Debt.com has information about tax debt solutions that you can use if you owe back taxes to the IRS or your state. Beyond that, the website offers information about what you must do even after reaching a settlement agreement.
If you’re dealing with debt collection agencies, Debt.com’s resources about handling debt collectors might be useful. They include information about debt settlement programs and how to sue a debt collector if you’re harassed. You can also learn about filing for bankruptcy if this is an option that you’re considering.
Since Debt.com offers the ability to find loan solutions from its partners, it only makes sense that the website has an extensive guide to loans. You can learn about a loan, the different types of loans, applying, refinancing, and more.
Credit resources
Improving your credit can make a big difference in your financial outlook. If you’re struggling with poor credit, you can use Debt.com’s resources to learn how to repair your credit and why it’s important. Beyond that, you can learn to monitor your credit to ensure you’re on the right track. Debt.com even has information about identity theft protection so you know what to look for and what to do if you become a victim of identity theft.
Free financial tools
Debt.com offers free financial tools that you can use to get a clear picture of what your options are. For credit card debt, there is a credit card payoff calculator complete with options to pay off your debt. There’s also a debt relief comparison calculator that can help you figure out the best way to pay off any debt you have. Other calculators include a debt-to-income ratio calculator, personal loan calculator, mortgage payments calculator, car payment calculator, and savings calculator. These calculators can help you determine what you can afford and how to set yourself up for success.
If you’re up for a little reading, you can get more in-depth with Debt.com’s self-help booklets. These booklets are PDFs for you to download and read at your own pace. Some booklets include a holiday money guide, tips on avoiding foreclosure if you’re behind on mortgage payments and tips on mastering your credit cards.
Alternatively, browse Debt.com’s “Free Tools” section to the self-help booklets. This website area has free guides to help you tackle several different financial topics. There are guides on how to settle credit card debt, how to get a personal loan with bad credit, and how to stay out of debt. You can also browse the website’s webinars and podcasts for more financial information.
Debt.com also offers resources that aren’t directly tied to debt. You can find a budgeting page on the website where you can explore budgeting software and tips on building your budget. There’s budgeting advice for almost every situation, from budgets for families and couples to budgeting for holidays and specific events. You can also explore the latest research on identity theft, credit card debt, and more on the website.
Expert advice
Still have questions about managing your debt? Debt.com allows you to submit a question to a pro who can help you. The experts are in the financial field, and some specialize in specific matters such as taxes and credit issues. To submit a question, you must choose a category such as credit card debt or bankruptcy. Then, you enter your question, a subject line, name, and contact information so the expert knows the best way to reach you with an answer.
Our Certified Debt Counselors Help You Achieve Financial Freedom Faster.
- Apply for a Quote.
- BBB A+ Accredited.
- No Fees To Start.
- One Monthly Payment.
- Free DebtConsolidation Quote.
- Satisfaction Guaranteed.
- Avoid Bankruptcy.
- Free Debt Analysis.
Not available in CT, OR, VT, WV.
Who is Debt.com best for?
- People with credit card debt. If you have credit card debt, Debt.com can be a good resource to learn about your options and decide what works best for you. It can help you with DIY tools if you want to handle your debt settlements independently, or you can look into options like debt consolidation and bankruptcy.
- People with student loan debt. Student loan debt can be confusing, especially since private and federal loans exist. Debt.com highlights the differences between private refinancing and income-driven repayment options so you understand how to tackle your debt in a way that fits your budget.
- People who owe back taxes. If you owe back taxes to the IRS or your state government, you can use Debt.com’s tools to review the plans offered by the IRS. Debt.com can also help you connect with tax professionals to discuss your plan with somebody who understands your situation.
- People who are looking for personal loans. One way to handle debt is to take a personal loan to consolidate high-interest debts. Debt.com can connect you with lenders who may be able to offer you a personal loan. You'll also be able to compare rates and terms to ensure you get the best personal loan offer for your financial situation.
- Anyone who wants to learn about personal finance should visit Debt.com. Even if you aren’t trying to get out of debt, the website is a great resource. You can use it to determine how much you can afford when purchasing a house or a car. You can also review tips and tricks to improve your credit score, make the most of your credit cards, and more.
Who shouldn’t use Debt.com?
- People who are looking for other loan types. Debt.com has much to offer, but it can’t fill every need. If you’re looking for a personal loan to consolidate your debt, Debt.com may be able to match you with lenders. But if you’re looking for mortgages and other types of loans, Debt.com can’t help you.
- People who want to work directly with lenders. Sometimes, the best offer is the one that’s right in front of you, and that’s okay, too. There are several ways you can work with lenders outside of Debt.com. For example, you may be able to get a good interest rate on a loan through a bank that you already have a relationship. Or maybe you want to explore loans from a few specific lenders. In these cases, it’s better to go directly to the source to make sure you connect with the lenders you’re interested in.
Pros and cons
Pros
- You can get a free consultation from certified credit counselors.
- The website allows you to review several debt management programs all in one place.
- Debt.com provides information from financial experts to help you make informed decisions when it comes to your debt relief options.
Cons
- There’s no information about which lenders Debt.com works with, so you won’t know who you might get matched with.
- Debt.com has a lot of information, which can be overwhelming for some users. There is a lack of clarity about what the site does when you first go to it.
- There is no mobile app for Debt.com.
Debt.com vs. Competitors
Company | What it offers | Debts it can help with | Pricing |
Debt.com | Financial resources and tools, connection to lenders for personal loans | Credit cards, student loans, back taxes, debt collection companies, bankruptcy | N/A |
Debt Reduction Services | Free budget and credit counseling, low-cost debt consolidation programs, and free community-wide educational programs | Student loans, bankruptcy, payday loans, medical debts, military debts | N/A |
The Debt Management Group | Credit counseling, customized debt management, and debt settlement programs | Credit card and unspecified other debts | N/A |
Debt Reduction Services
Debt Reduction Services is a nonprofit debt management and credit counseling service organization. The organization offers a full suite of debt relief services that can directly help its customers. Like Debt.com, the website has several educational tools that you can use to learn about becoming debt-free on your own.
The unique thing about Debt Reduction Services is that it offers debt management plans to qualified customers. These debt management plans can help pay off unsecured debt with reduced interest and no late fees. The organization can also help you with bankruptcy counseling if bankruptcy is a better option based on your financial situation. The organization also provides counselors to assist people with choosing student loan assistance programs.
The Debt Management Group
The Debt Management Group is a debt relief company that works with you to design a customized plan to help you become debt-free. The company offers a team of financial consultants and advisors who can help you build a successful financial future.
When you use The Debt Management group, you’ll start with a free consultation from a specialist. The consultation lets you discuss your debts and ask questions about the company's offerings. Based on your debts, the credit specialist will explain debt resolution options that best fit your circumstances.
FAQs
Will using Debt.com affect my credit?
If you’re focused on credit repair, it’s only natural to be concerned that using any service might show up on your credit report. Fortunately, using Debt.com does not have a negative impact on your credit. However, if you do apply for a loan through Debt.com, the loan application will show up on your credit report.
Is Debt.com safe to use?
Another concern might be the safety of Debt.com. Debt.com is an accredited business with the Better Business Bureau (BBB) with an A+ rating. It also has a rating of 4.6 on Trustpilot, a website where you can read customer reviews.
Does Debt.com offer other financial services?
No, Debt.com specializes in helping people become debt-free and helping people repair their credit. For other financial services such as ongoing financial advice, you’ll need to look elsewhere.
Our Certified Debt Counselors Help You Achieve Financial Freedom Faster.
- Apply for a Quote.
- BBB A+ Accredited.
- No Fees To Start.
- One Monthly Payment.
- Free DebtConsolidation Quote.
- Satisfaction Guaranteed.
- Avoid Bankruptcy.
- Free Debt Analysis.
Not available in CT, OR, VT, WV.
The bottom line
Debt.com is a company with a lot to offer. No matter your financial situation, the website will surely offer educational tools to benefit you. You can use the website to educate yourself, or you can use it to find debt relief options that are suitable for you. It’s really up to you how you want to use the service.
The company’s website has a lot of information to sift through, but there is a way to cut through the noise. On the homepage, you can complete a short questionnaire to get matched with the options that you need. You can also get connected with lenders who may be able to help you consolidate your debt if that’s something that you’re interested in. The company is a good one to look into if you’re hoping to get some education regarding personal finances, even if you’re already debt-free.
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Writer
Ashley Hart is a lead copywriter and digital marketing expert covering finance, law, real estate, music, entertainment, health and wellness.
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