Name: CreditAssociates
Rating: 4.4

LAST UPDATED: November 22nd, 2021

CreditAssociates is a debt relief company that specializes in settling credit card debt. According to the company’s website, it has helped thousands of customers settle millions of dollars worth of debt. The company says the length of its debt settlement program depends on each client's financial situation, but that it can help most customers become debt-free in 24 to 36 months.

CreditAssociates offers only debt settlement, not other debt relief services such as debt consolidation or debt management plans. CreditAssociates customers set up a special savings account, where the customer makes monthly deposits. Eventually, once the account has enough money, the debt settlement company negotiates with each creditor to lower the client's debt amount.

Because CreditAssociates only offers debt settlement, it can only help with unsecured debts such as credit card debt and personal loans; the debt settlement company can’t help with secured debt like a mortgage, auto loan, or home equity loan.

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The Good

Free Consultations
Online Account Access
Accreditations
Performance-Based Fees

Free Consultations

CreditAssociates offers free consultations to help potential clients decide whether its debt settlement services are right for them.

Online Account Access

CreditAssociates customers can access their accounts online, giving them 24/7 access to information and resources.

Accreditations

CreditAssociates boasts accreditations from the American Fair Credit Council and the International Association of Professional Debt Arbitrators, two important organizations in the debt relief industry.

Performance-Based Fees

CreditAssociates doesn't charge clients any upfront fees. The company only charges a performance-based fee after it has negotiated, and the client has accepted, a settlement offer with one of the customer's creditors.

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The Bad

State Availability
Limited Pricing Information
Must Demonstrate Financial Hardship

State Availability

CreditAssociates offers its debt settlement services in 42 states.

Limited Pricing Information

According to the CreditAssociates website, the company doesn’t charge any upfront fees; it only charges a flat performance-based fee after the customer accepts and funds a settlement offer. However, CreditAssociates doesn’t detail how much that fee is.

Must Demonstrate Financial Hardship

CreditAssociates customers must demonstrate financial hardship in order to use the company’s services. The company doesn’t provide details about this process on its website, except to say that customers must substantiate and prove their financial hardship.

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The Bottom Line

CreditAssociates provides debt relief to customers struggling with unsecured debt. The debt settlement company helps clients through debt negotiation over an average period of 24 to 36 months, only charging customers a flat performance-based fee after their debt has been settled.

The company has several important accreditations, including from the American Fair Credit Council and the International Association of Professional Debt Arbitrators. Additionally, the company offers 24/7 access to its online system, where customers can access helpful resources.

Although it doesn't offer details about its pricing on its website, potential customers can learn more through CreditAssociates' free consultations. If you're looking for debt relief and you live in one of the states where CreditAssociates is available, the company is worth looking into.

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User Reviews

Star Rating

4.4

326 Reviews

Review Breakdown

5 grade

66%

4 grade

19%

3 grade

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1 grade

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Emily Lacy

The entire process has been one lie after another. They completely leave out the fact that cancellation of debt is taxable income, minimize the effect the program will have on your credit, and tell you that they will never need more money than the monthly payment you've agreed to, or more than the total of all payments you've agreed to, and they have asked me for both an increase in my monthly payment (multiple times), and have stated that the amount they quoted to settle all my debts would not be sufficient after the fact. This program has absolutely destroyed my credit, has saved me almost nothing between taxes and fees, and is downright dishonest. I strongly urge anyone considering this program to run the other way.

5 years ago

Reply from CreditAssociates

Hi Emily - Thanks for the feedback, please reach out to us whenever you like we would like to learn how we can improve future client experiences

Feb. 4th, 2021

Mike Palermo Clermont, FL

I was talked into a plan to eliminate my debt, I do not feel they have been working to perform the way that they had promised. They have only eliminated small amounts of debt from my account. Now they are calling and asking me to up my monthly payments because they have reached a settlement with one of my creditors. Now I feel like I am being scammed. I am not seeing results and I will be filing a complaint.

Desery Cain

I am wary of Credit Associates. I joined the program a year ago and not sure if the program is a scam. There are no updates(statement summary) and I'm not sure my accounts are being settled.

Hi Desery - We want our clients to stay informed and engaged throughout the program so If you have additional questions you are welcome to reach out to us whenever you like. You also have access to your client portal where we provide real-time updates to your program. Our success depends on your success so if ever you need anything, we are here for you

Russell Carey

My credit rating wasn't exactly great(600+] but by the time your company started dealing with my creditors my score dropped to just above 500. Thanks

Hi Russell - Thank you for the feedback

Alesia Wittig

After making a settlement with the 1st creditor, ADDITIONAL Monthly money was asked to settle other creditors and YOUR FEES ARE TOO HIGHT

Hi Alesia - Thank you for the feedback

Christopher

Terrible. They appeal to people in difficult financial situations and take advantage of them.

Hi Christopher....thanks for reaching out. I'd love to talk about what specifically you are unhappy with about our program. Feel free to message me here and we can connect.

Nov. 19th, 2020

Garry Peruzzi

Terrible I was sued by one creditor that was never contacted.

Hi Garry - Thank you for the feedback please reach out to us whenever you like to discuss in further detail.

Phyllis Fulton

I wish I had not started it.mycredit score took ahit

Hi Phyllis - Thank you for the feedback