What Is the National Debt Relief Program?

The National Debt Relief Program is an American debt settlement company that specializes in personal debt. This can range from simple credit card debt to medical bills. This is needed because the average American carries over $100,000 in debt at any given time.

They work with individuals who are at least $7500 in debt from these types of sources. The goal is to put money into a savings account and let the debt become delinquent. Once delinquent, the company then helps settle the debt with the goal of making the debt lower than what it was initially.

What Are the Pros of the Program?

The pros of the program can range from lower monthly payments to no upfront fees. It is also easy to join the program.

The National Debt Relief Program does a soft pull on your credit score. This means no further impact on your credit score.

The no upfront fees stretch from the Federal Trade Commission making it illegal to charge the upfront fees for debt settlement companies. This does not mean they do not charge fees, however.

What Are the Cons of the Program?

The cons of the program are just as plentiful as the pros.
While there are no upfront fees, there are high client fees. Ranging from 15 percent to 25 percent, depending on the person and the total debt enrolled in the program.

The program does not cover all forms of debt either. If you have utility bills, back taxes, or federal student loans, you will not be able to qualify.

You will also have a financial set back post enrolling. The purpose of the program is to let the accounts go delinquent and then let the program settle the debt for a lower amount. This will negatively impact your credit score.

This makes the recovery much harder. Those who had a decent credit score before enrolling will have to work harder to recover that score after the debts go delinquent. You might find a harder time obtaining future loans for housing or automobiles because of this.

Who Is the Program For?

This program is meant for those who are already near the bottom of the credit score with a high debt amount. If you’re near the bottom, the only place you can go is up.

Learn more about how national debt relief works here.
National Debt Relief: A Program Needed in America

As the average American debt continues to rise, programs like the National Debt Relief Program are needed. It can help bring those who are at the bottom back to the top over a couple of years.

For those looking to learn more about managing their personal finances, check out our other articles. If you know someone in a sticky debt situation, be sure to share this article with them.

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