Guardian Debt Relief Review
By the end of our Guardian Debt Relief review, you’ll know if their one best credit repair companies–or not. So you can make the best decision possible, we’ll be covering how they work, how much they cost, pros, cons and other must-know information.
How Does Guardian Debt Relief Work?
They offer debt negotiation with no upfront costs and a competitive flat fee. They’re based in New York but provides debt settlement for clients in 17 states. The company consolidates and negotiates with creditors, including credit card companies, hospitals, utilities, and even student loan companies.
Here is Guardian Debt Relief’s five-step program as a part of their debt settlement service.
Start Your Debt Analysis
Once you contact a Guardian representative, they will review and assess your debt. They will then determine if they can provide debt relief.
Build Your Repayment Plan
Next, a Guardian Debt Relief specialist will help you work out a repayment plan that fits into your budget and financial situation.
Negotiate Down Your Debts
Guardian Debt Relief will engage with your creditors to negotiate a debt settlement.
Keep You Notified
Guardian will notify you every time they have completed a successful debt negotiation. Your monthly payments will begin once the debt settlement is complete.
Repair Your Credit
As progress is made, Guardian works with creditors to report paid-off debts. You should see positive results from your debt settlement program.
Now that you know how they work, here’s an overview of their key features:
- Free consultation. An agent will contact you after you complete the online form. They also give you a free quote before you sign on to their services.
- Customer service. You can reach Guardian Debt Relief via phone, email, or an online live chat.
- Fees. There are no upfront fees. Once the company negotiates a debt, they charge 20%. Guardian only charges fees if they successfully negotiate one of your debts.
- Four main services: Debt settlement & negotiation, debt consolidation, and education.
- Educational resources. You can visit their website to explore blogs and other educational tools.
- Minimum debt requirement. You must have a minimum debt amount of $7500. Also, you must prove financial hardship. You should expect a turnaround of two to three years, depending on your situation.
- Available in 17 States. Available in Alabama, Alaska, Arizona, Arkansas, California, Florida, Indiana, Maine, Michigan, Nebraska, New York, Texas, Virginia, and Washington.
- Strong credentials. A+ rating with Better Business Bureau (BBB), membership with AFCC, compliant with SURE, and accredited by IAPDA.
- In-house negotiations.
No Upfront Fees
As per the GuardianDebtRelief.com website, that they do not charge any fees upfront to help you with credit cards, personal loans, medical bills, or unsecured debt. This makes it easy for you to get started with the program.
Q. How does Guardian Debt Relief make money?
A. Guardian charges a 20% fee through their debt settlement program.
Once they settle a debt with a creditor or agency, they charge you 20% of the debt. A debt specialist can calculate what you will owe Guardian before they settle the debt. That way, there are no surprises once the transaction is complete.
Flexible Repayment Options
Guardian Debt Relief offers flexible repayment options to help you with your particular situation. How much you pay each month depends on various factors. You can work with your debt specialist to determine what works for you.
You can also choose a repayment schedule with the debt settlement company. This makes repaying your debt more doable. If you need help deciding what works for you, their credit counseling services and resources are available online. You can find out how the best way to repay your debt and boost your credit score.
Fully Certified and Accredited
Guardian Debt Relief is one of the most trustworthy debt settlement services in the industry. Their list of credentials includes:
- A+ rating with the Better Business Bureau (BBB)
- With zero complaints over the last 12 months
- TrustPilot score 4.3 out of 5 stars
- Membership with American Fair Credit Council (AFCC)
- Accredited by the International Association of Professional Debt Arbitrators (IAPDA)
You Will Notice a Change in Your Credit Score
Creditors do have the right to report settled debt to all three credit bureaus. As a result, you will probably notice a change in your score on Equifax, Experian, and TransUnion. Unfortunately, your score will go down by several points.
You May be Taxed on Your Settled Debt
If you save money above the minimum debt requirements, you may have to pay taxes on the money you saved. Therefore, you may have to establish a payment plan with the government to pay the taxes. This is one of the downsides of working with almost any debt relief company.
You Have to Live in One of These 17 States
Although Guardian Debt Relief is based in New York City, they offer debt relief services in some areas across the United States. States include Alabama, Alaska, Arizona, Arkansas, California, DC, Florida, Indiana, Maine, Michigan, Nebraska, New York, Texas, Virginia, or Washington. If you do not live in one of these 17 states, you cannot relieve your debt by turning to Guardian Debt Relief. Browse our list of the other best credit repair companies to see one your state.
Consider Guardian Debt Relief Costs
Regardless of your debt amount above $7500, Guardian can provide accredited debt relief from all types of debts. However, you need to decide if the cost of using Guardian is worth it. Let’s do a little math.
Let’s say your debt is $10,000. Guardian’s Fee on a $10K debt is 20%. Therefore, you pay them $2,000. Now let’s say that Guardian manages to reduce your debt to $5,000. That’s a 50% reduction. Now add your adjusted debt of $5,000 and the fee of $2,000. Instead of paying $10,000, your new total debt amount is now $7,000.
So, if you can afford the $2,000 fee, you save yourself $3,000 in debt. Guardian’s strategy is similar to how other debt management companies work. Other companies such as Freedom Debt Relief and National Debt Relief also require zero upfront fees. They also charge a percentage of fees based on the debt amount.
National Debt Relief’s fees range from 18% to 25% based on the enrolled debt. Consolidated Credit adjusts their fees according to the state. Monthly fees can range from $0 to $69. Like Guardian, CuraDebt Debt Relief charges 20% of the enrolled debt. But as you’ll see in this Guardian Debt Relief review, they charge no upfront fees.
How Much Can Guardian Debt Relief Reduce Your Debt?
According to the Guardian Debt Relief website, they can reduce your debt by 40% to 60%.
They also claim that they can save you between 20% to 40% in debt settlement fees. One of the ways that they help you save money in debt management is by offering financial education.
If you read their resources, you can learn several ways to save money and time by using a debt management company. This may be a better solution than trying to do it yourself. With Guardian Debt Relief, you may get the results you are looking for.
Something else to consider: If you have credit card debt, private student loans, similar debts, Guardian may be able to help you pay off your total balance in two to three years. It may be an easier road to financial freedom.
Guardian Debt Relief Review: Bottom Line
Guardian Debt Relief offers a fair and competitive debt settlement and credit counseling service. The highly-rated debt settlement company has no upfront fees and a predictable 20% fee on enrolled debt. However, the 20% fee may not save you as much as you’d like.
As both a critic’s and user’s favorite, Guardian Debt Relief is highly accredited and available in at least 17 states. Their approach is simple, and their customer service is accessible. They may be an excellent option for you if you are looking to get on the road to financial freedom. So, to conclude our Guardian Debt Relief review, give them a go.