Guardian Debt Relief offers solutions for people who may not be able to afford to pay back their loans or other unsecured debts as first planned. The company offers individualized plans for their clients, to help them settle debt quicker than they otherwise would have been able to. It makes our list of the best debt settlement companies (for other options, check out our National Debt Relief review, Freedom Debt Relief review, and Accredited Debt Relief review, among others).
Debt settlement helps people who are struggling to manage their finances by stopping payments to creditors, which are then paid into a settlement account. Once a set amount of time has passed and there are sufficient funds in the settlement account, the company you work with will start negotiating a settlement agreement with your creditors. People regularly end up paying back 30% less than they would normally, including any settlement company fees.
The company charges 20% of the total settled debt if you have over $10,000 in debt and the company manages to reduce the amount by 50% before fees. They have a standard minimum debt requirement of $7,500.
Guardian Debt Relief review: Features
- Standard minimum debt requirement of $7,500
- An average monthly fee of around $200
- Settlements on average of around 50%
Guardian Debt Relief: Key figures
Information Support: Over the phone, and online.
Support: Online, Phone
Interface: Computer, tablet, and mobile.
Debt settlement through Guardian Debt Relief is relatively straight forward although they do have a standard minimum debt requirement of $7,500. As with any debt settlement firm, you will have to do some research to make sure that the company has some sort of relationship with your credit provider but, in general, the company is successful at reducing debts to around 50% before fees.
In terms of rates Guardian Debt Relief is pretty transparent which makes it easier for you to work out any potential savings before entering into an agreement. For all debts over $10,000 you can expect to pay an additional 20% of the total settled debt.
A really nice feature that the company offers is a non-judgmental attitude and the ability to receive financial education on some aspects that can prepare you for life after debt.
Guardian Debt Relief review: How it works
- Helpful website content
- Highly trained staff
- Free consultation at the outset
Guardian works with customers by initially getting a full picture of their current financial situation. Once established they will continue to help you via financial education on what you can do to further reduce your debts or keep them from coming back in the future.
Guardian Debt Relief is accredited by the IAPDA and AFCC, which means their staff can give high-quality advice when you speak to them over the phone. They are trained to take time to fully understand your situation before suggesting whether or not debt settlement is right for you. You will also be able to ask them any questions you may have.
Once onboard, the settlement account can be managed online and you can have access to this via mobile and desktop. Any questions are just a phone call away to one of the advisors. Essentially, you should know information such as when Guardian plan on aiming to settle based on the original free conversation you have initially with their staff.
Guardian Debt Relief review: Quality of product
- Industry accredited
- Average fee of 20%
Guardian offers a high-quality service for people who have found themselves struggling to meet minimum payment on debts of over $7,500. Its fees are slightly lower than the industry average, and the average time it takes to complete the settlement program fall in line with standard practices.
The company helps people by letting them pay money into a settlement account. After a set amount of time and once there is enough money in the account, they will negotiate with your creditors to agree a lower repayment amount. Once a settlement figure is agreed, you will pay the money to the creditor from your settlement account, as well as the company's fee, which is usually 20% but can vary depending on circumstances.
Their financial education elements also make them uniquely placed to advise both now, and later.
Guardian Debt Relief review: Customer reviews
- Trustpilot score of 4.5 stars
- Currently under 50 reviews
Guardian Debt Relief has a few mainly positive customer reviews that praise both the staff and company for keeping them from bankruptcy and settling outstanding debt.
There are a couple of negative reviews that talk about pushy sales tactics and potential chargeoffs from some well-known companies. It’s always worth making sure with your creditors that they will enter into a debt settlement agreement with the company before signing up. However, most reviews can’t thank Guardian enough for helping customers with their debt. It's worth noting that the last review was submitted two years ago, while there are currently fewer than 50 reviews. That's not a very high number to assess the quality of a business, especially compared to the thousands of positive reviews other debt settlement companies have.
Should I choose Guardian Debt Relief?
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Guardian Debt Relief offers a good service, with lower than average fees, and good settlement rates. Like most of the best debt settlement companies it has an approach that promotes education and getting people's financial lives back on track.
Debt settlement is only a good option for people who have multiple unsecured debts, such as credit cards, or loans, and who are struggling to pay them off. The process does have its downsides though, undertaking a debt settlement program can negatively affect your credit and can stop you from being able to borrow money for several years after you complete the program. This is because you will be required to stop paying your creditors before negotiation starts, which can lead to debts being passed to collections. Your advisor at Guardian will help you understand these implications and will help you learn how to deal with chasing calls and mail.
If you are looking for a high-quality debt settlement company that has slightly lower than average fees, then Guardian Debt Relief could be a good option for you. Although one thing to watch is that the service is not available in every state, so do check ahead of calling to make sure they operate where you're based.