Pros / Superior Debt Relief’s fees are some of the lowest, and you can pay fees on the amount you settle for.
Cons / There is no dedicated customer service rep, and Superior doesn’t recommend debt consolidation loans.
Verdict / While it’s a smaller operation than other settlement companies we reviewed, Superior Debt Relief offers excellent customer service but fewer resources than other services.
Superior Debt Relief Services offers excellent customer service and admirable transparency. This debt settlement company has lower fees and shorter terms than many services. It is IAPDA and USOBA certified, meaning that its customer service and debt specialists must pass certification tests before they can begin advising customers.
When you call into Superior Debt Relief, you’ll speak to an intake specialist who will discuss your debt situation and offer options for paying down and managing your debt. We recommend taking stock of your monthly spending and budget before calling in. This will give the company a good idea of how much you can afford to pay into a settlement program. Superior will run a soft credit pull to see who your creditors are and how much you owe them.
Your amount of debt will determine which program Superior recommends to you. If you have $5,000 or more, with at least $1,000 in each account you want to enroll, Superior will likely recommend a debt settlement plan to you. Lesser amounts will be directed to a credit counseling partner.
Under a debt settlement plan, you’ll stop making payments to your creditors and instead begin making monthly deposits into an escrow account. After several months of saving into that account. Superior will contact your creditors and begin negotiating a lump sum payment.
This company can reduce your debt by as much as 42 percent. You’ll pay a fee on the total amount of debt you enroll in the program, which for Superior ranges between 15 and 18 percent. This is lower than other services such as National Debt Relief and Freedom Debt Relief which charge as much as 25 percent. The fees are in addition to the amount you pay to settle, so you will end up paying up to 70 percent of the total you enrolled into the program.
Superior is one of the smaller settlement companies we reviewed. It handles all the negotiations in house, and it’s not an affiliate of a larger settlement company. Its services are available in 30 states. Because of this, you won’t get a dedicated customer service rep.
Superior Debt Relief Services sets up debt settlement plans and can negotiate a reduction of up to 42 percent of the amount you join the program with. Fees range between 15 and 18 percent of the amount you join with, which makes it an average debt settlement company.