Or, have you received a mailer from the DebtBlue negotiations department that your response is required and that you have 10 days to contact their office? If you don't, does the letter state that you will face extra fees and penalties?
But, what is a debt consolidation program? What is DebtBlue? How does DebtBlue get paid?
If you are unfamiliar, Debt relief is the process in which a third party negotiates with your creditor on your behalf. The goal of a debt settlement firm is to find a lower payment that will fully satisfy the debt that you owe. So, a debt relief may try to settle a $10,000 credit card balance for $5,000. This can provide ample savings and a potential lower monthly payment.
According to DebtBlue’s FAQ’s, DebtBlue charges typically 25% of the debt that you enroll in the program. No fees are collected upfront, but that’s standard in the industry.
Often, debt relief companies state that it charges between 15-25%, so 25% is potentially on the higher end of that spectrum. The companies that we have partnered with tend to charge between 15-20%, potentially with some exceptions.
I liked how DebtBlue was also forthcoming about the Veritas Legal Plan which is another $39.95 per month. Just for reference, if you are in a 48 month program, that would be an additional $1917.60 in fees you are paying for legal protection. Generally, debt relief companies offer this in case of a debt collection lawsuit for one of your accounts.
Many debt relief companies should understand which creditors are more likely to sue as your accounts often go past due before the company settles, so it’s unclear why they would pitch this product if your creditor mix all had a low lawsuit likelihood of suing.
When you look at DebtBlue reviews, you’ll notice some positive and also some negative reviews. Let’s dig into BBB and Google reviews first.
According to BBB, DebtBlue maintains a A+ rating with a 4.79 based on 896 customer reviews. At the time of this writing, DebtBlue is accredited in the Tempe, Arizona division with an A+ rating and is also BBB accredited in the North Dallas region. It appears that the Tempe Division and the North Dallas division have now merged. So, here's the BBB information for the North Dallas divsiion.
On Google, DebtBlue maintains a 4.8 rating based on 1,738 reviews. Sometimes debt relief companies will ask for a review shortly after entering a program, so I like to see reviews where the individuals shows that they have been in the program long enough to experience the process.
On the positive side, June J stated in their review that they have had a good experience thus far. June mentioned that they reached the first settlement at about 90 days, which was faster than they expected.
On the other hand, Olivia stated that she had a negative experience. In her review, Olivia stated that the communication has been terrible. She stated that the creditor had threatened legal action and she had been served in a debt collection lawsuit. Many debt relief companies know who will sue, so it’s unclear why Debt Blue provides a lawsuit likelihood calculation to her before entering the program. Or potentially, they did, but this one ended up in a lawsuit.
On Facebook, DebtBlue has a 4.6 rating based on 36 reviews. As seen below, Bridgette mentioned in her review that Debt Blue has lifted a burden off for her.
DebtBlue is BBB accredited in the North Dallas region. Also, DebtBlue is an accredited member of the American Fair Credit Counsel and has a BSI ISO certification.
Debt Blue may tend to charge on the higher end of the fee structure at roughly 25% of enrolled debt. DebtBlue has accreditations with AFCC and BSI, and while it may not yet be accredited in the North Dallas region, it is accredited in the Tempe region with an A+ rating.
