PROS / It has a lower debt threshold than most debt settlement companies.
CONS / This service does not have AFCC accreditation.
VERDICT / Premier Debt Help charges average fees. It offers loan consolidation as well as debt settlement negotiation services for payday loan and other debt relief.
Premier Debt Help offers payday loan consolidation options, with several debt settlement alternatives and higher-quality debt counseling than many of its competitors. You only need to be $5,000 in debt to qualify for the program, which is one of the lowest thresholds of the services we reviewed.
This debt relief company offers two options: payday loan and debt consolidation that may include negotiating to lower your late fees and monthly minimums, and outright debt settlement that may lower your overall debt amount. The company's fees are a little better than average.
During your free consultation, credit counselors assess your financial situation and advise you on your options. If you decide to consolidate, Premier Debt Help can offer a consolidation to pay off your payday and other debts you choose to register with Premier, replacing them with a single loan with more reasonable terms of repayment. The loans generally run one to four years, depending on the severity of your debt and the monthly payments you make.
If you choose debt settlement, Premier Debt Help begins negotiations with your creditors. Meanwhile, you start paying into a trust account managed by Reliant Account Management, which is used to pay your debt once it reaches a settlement with your creditors. As with all debt settlement programs, creditors do not have to negotiate, nor do they need to stop pursuing you for the money you owe. You can look up your account online to see its progress.
If Premier is successful, it charges a flat 20 percent of your enrolled debt, which means if you have $10,000 of debt, your fee will be $2,000. In the best-case scenario with $10,000 debt, you may be responsible for as little as $5,000. With fees and debt, you will have saved about $3,000.
Premier Debt Help's credit counseling features include professional advisors, newsletters, self-help tools and financial calculators. You may want to explore these tools first to see if you can come up with your own budget program to get your debt paid off without hiring a debt settlement service.
Premier Debt Help representatives are available by phone, email or the website's chat service. Also on the website, you will find a comprehensive FAQs section. This payday loan debt relief company is accredited with the International Association for Professional Debt Arbitrators, which trains and accredits debt negotiators and enforces a strict standard of ethics.
Premier Debt Help offers multiple tools to help you resolve your payday loan debt, from online budgeting tools to loan consolidation and debt settlement. Its fees are on the lower end of average for this kind of service, but it also offers consolidation loans as well as debt settlement.