What is Pacific Debt Relief?
Pacific Debt Relief is a nationwide debt settlement company that helps consumers reduce their unsecured debt through negotiation with creditors.
How long has Pacific Debt Relief been in business?
Pacific Debt Relief has been helping consumers with debt relief since 2002.
Is Pacific Debt Relief accredited?
Yes, Pacific Debt Relief is accredited by the Better Business Bureau (BBB) and the Consumer Debt Relief Initiative.
What types of debt does Pacific Debt Relief handle?
Pacific Debt Relief handles unsecured debts such as credit card debt, personal loans, medical bills, and other consumer debts.
What is the minimum debt required to qualify for Pacific Debt Relief’s program?
To qualify for Pacific Debt Relief’s program, you must have at least $10,000 in unsecured consumer debt.
Does Pacific Debt Relief offer services in all states?
Pacific Debt Relief offers services in many states, but availability may vary. It’s best to check their website or contact them directly for the most up-to-date information.
How does Pacific Debt Relief’s debt settlement program work?
Pacific Debt Relief negotiates with creditors on your behalf to reduce the amount you owe. You make monthly deposits into a dedicated account, which is then used to pay off settled debts.
How long does the debt settlement program typically take?
Pacific Debt Relief aims to have clients debt-free in 24-48 months, depending on individual circumstances.
Will I have to pay taxes on forgiven debt?
Forgiven debt may be considered taxable income. It’s recommended to consult with a tax professional for advice on your specific situation.
Does Pacific Debt Relief charge upfront fees?
No, Pacific Debt Relief does not charge any upfront fees.
How much does Pacific Debt Relief charge for its services?
Pacific Debt Relief typically charges 15% to 25% of the total enrolled debt, but this fee is only collected after a debt has been settled.
How will using Pacific Debt Relief affect my credit score?
Enrolling in a debt settlement program may negatively impact your credit score, as you’ll stop making payments to creditors during the negotiation process.
Does Pacific Debt Relief offer credit repair services?
No, Pacific Debt Relief explicitly states that it is not a credit repair organization and does not aim to improve credit scores.
How can I contact Pacific Debt Relief?
You can contact Pacific Debt Relief by phone or email. Their contact information is available on their website.
Will I have a dedicated account manager?
Yes, Pacific Debt Relief assigns each client a personal account manager to guide them through the program.
How does debt settlement compare to bankruptcy?
Debt settlement may be less damaging to your credit than bankruptcy and doesn’t require court involvement, but it’s important to consider all options based on your specific situation.
Is debt settlement better than credit counseling?
Debt settlement aims to reduce the total amount you owe, while credit counseling typically focuses on reducing interest rates. The best option depends on your financial situation.
What is Pacific Debt Relief’s success rate?
Pacific Debt Relief doesn’t publish a specific success rate, but they have settled over $500 million in debt since 2002.
Does Pacific Debt Relief guarantee results?
Pacific Debt Relief does not guarantee specific results, as outcomes can vary based on individual circumstances and creditor cooperation.
What do customers say about Pacific Debt Relief?
Pacific Debt Relief has generally positive customer reviews, with many clients praising their customer service and effectiveness in reducing debt.
How is Pacific Debt Relief rated by third-party organizations?
Pacific Debt Relief has an A+ rating from the Better Business Bureau and positive ratings from other independent review sites.
Is Pacific Debt Relief compliant with industry regulations?
Yes, Pacific Debt Relief operates under the oversight of the Federal Trade Commission and adheres to industry regulations.
How do I enroll in Pacific Debt Relief’s program?
The enrollment process begins with a free consultation to assess your financial situation and determine if you qualify for their program.
What information do I need to provide to enroll?
You’ll need to provide information about your debts, income, and expenses during the initial consultation and enrollment process.
Can I enroll online?
While you can request information online, the actual enrollment process typically involves speaking with a debt specialist to ensure the program is right for you.