Pacific Debt Relief is a debt settlement company that helps consumers deal with unmanageable debts. It is certified by the International Association of Professional Debt Arbitrators (IAPDA), giving it the credibility consumers need when seeking a service like this. It makes the list of our best debt relief companies. All rates and fees are current as of April 2024 and are subject to change.
Pacific Debt Relief
| Eligibility & Requirements: | $15,000 in minimum debt |
| Fees: | 15%-25% of total enrolled debt |
| Ratings: | BBB A+ |
| Accreditations: | IAPDA |
| Savings: | 25%-30% after fees |
| Time: | 3-4 years |
How Pacific Debt Relief fees work
Pacific Debt Relief only takes a fee once the settlement with creditors has been made. There are no upfront fees. There are also no monthly fees paid. The fees are incorporated into the monthly payment, covering the settlement amount owed. Pacific Debt Relief charges 15%-25% of the total enrolled debt.
How does working with Pacific Debt Relief impact credit score
Like most debt settlement companies, clients who use Pacific Debt Relief can see a negative impact on their credit scores. Scores may go down because Pacific Debt Relief will have you stop making payments to the creditors so that they can negotiate a settlement. A settlement company can rarely negotiate a payment unless the consumer is behind on payments, negatively impacting credit.Â
How much can I save by using Pacific Debt Relief?
Clients using Pacific Debt Relief can expect to pay around 50% of their debt balance before fees. Since fees vary by state from 15% to 25%, consumers can expect to see around a 25% to 35% total reduction in what they owe. Savings vary per person and are contingent on the negotiated settlement Pacific Debt Relief is able to finalize with creditors.Â
How long does Pacific Debt Relief take to settle debt?
The settlement process can take several months. This is when consumers stop making payments to credit accounts, and Pacific Debt Relief starts the negotiation process. Once a settlement is made, it can take up to four years to pay the debt off.Â
Other services Pacific Debt Relief offersÂ
Pacific Debt Relief does not advertise any other services beyond debt relief. From its website and BBB page, it does not offer consolidated loans or credit counseling services.Â
Are there risks with settling debt with Pacific Debt ReliefÂ
Consumers’ main risk with using Pacific Debt Relief is that their credit score will decrease. Most consumers enlist the help of a debt relief company to aid in the debt and help with credit. However, because payments on credit accounts halt in the process, credit scores generally go down.Â
Pacific Debt Relief’s reputation for settling debt?
From online reviews, Pacific Debt Relief has a good reputation with its clients. There doesn’t appear to be any pending litigation on the company, and it has only had six complaints in the past three years with the Better Business Bureau (BBB). That is a low number compared to other debt relief companies. It also has an 84% five-star review from customers on Trustpilot.  Â
Is Pacific Debt Relief right for you?
Pacific Debt Relief is a good solution for consumers who live in their service zone and have at least $15,000 in debt. It offers a free consultation and debt review to help you understand what they can do for you. Â
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