National Debt Relief Thoughts? Experiences?

United States
September 8, 2017 1:00pm CST
I have a friend that is about $50000 in credit card debt and he just enrolled in a program under National Debt Relief. I have been researching the company for the last week cause he asked me what I thought of it. I don't know anyone that has tried it. It seems like they are a legit business BUT they tell you to NOT pay your credit card bills- so then it shows that you can't afford the payments. Then after a few months they will start to make offers to pay off your debt for less than you owe. I told my friend first of all it is going to KILL your credit big time and I don't know how long that will take to rebuild in this program Through research I also found that he will get taxed for what they save you above $600 And you do have a chance of being taken to court for non payment I haven't been that high in credit card debt ever but it seems like he went on a downhill spiral after he had a great job making lots of money- to not having a job due to a bad car accident. I tried talking into getting them under 1 loan for consolidation but no one will loan him money due to his debt to income ratio. Then I suggested trying to call the credit companies himself and he doesn't want to do that. I sent him articles from Dave Ramsey on how to snowball debt and he says he can't do that either. I wanna help him but I don't have $50000 to loan him- but I am nervous for him going with this company. Anyone have experiences with them? Good or Bad?? He just started it 2 weeks ago so I may be able to talk him out of it yet- What are other options someone can think of for me to talk to him about? I believe I read the majority of these reviews on google and I am surprised by all the good reviews
Searching to find a debt settlement company? Compare customer reviews about National Debt Relief regarding services provided, the process and more.
1 person likes this
1 response
• United States
8 Sep 17
In my experience, they are just like any other debt consolidation company, still payimg for it either way, and of course fly by night operations. My advice is pay your living expenses first, then if you do have anything left, pay the most important ones like the medical ones and such. Most credit card debts gets sold to junk debt buyers every 6 months till it falls off your credit, so it would be pointless to pay them only to pay them two or three times over again.
1 person likes this