PROS / This service has an above-average reduction rate of around 42 percent.
CONS / Some of the information about the time frame for the debt settlement process can be misleading.
VERDICT / This service offers above-average reductions and charges above-average fees, but if company reputation is a deciding factor for you, this is a good choice.
Superior Debt Relief Services provides debt settlement and has positive ratings with business rating services. It has received few customer complaints.
This debt settlement service offers free consultations and does not charge any upfront fees, as is the law, and does not charge monthly fees. You must have at least $10,000 of eligible debt, such as credit card, store charge cards, unsecured loans and medical bills. However, this minimum will be evaluated on a case-by-case basis. Superior charges 35 percent of the settled amount, and the total reduction after fees is about 42 percent. However, results vary as creditors are not under any obligation to negotiate with debt settlement companies.
An IAPDA-accredited arbitrator personally works with your account to negotiate with your creditors. During the time in which your arbitrator and creditors negotiate, you put away savings each month into an FDIC-insured trust fund. Debt settlement programs with this service take between one and 42 months, depending on your particular financial situation and how much you can save each month. Superior lists a short minimum period for the debt settlement process, and as this is so far below the industry average, it must be taken with a grain of salt.
You can begin the enrollment process online by filling out your personal information and having a debt specialist call you back. You also have the option to call the toll free number or email the company if you have any questions. On the website, this service offers financial tips and tools, including a debt calculator to help you understand your debt and the interest it accrues. You can read the FAQs about debt settlement and other debt-relief options as well. This service does not have an online portal where you can manage your account.
Superior Debt Relief Services has a long-standing good name, indicating its honesty and dedication to its customers. Its average settlement reduces its customers' debt by around 42 percent, which is above average when compared with other services.