CuraDebt is an established company that offers debt relief services to struggling consumers. The process they use is called debt settlement, and it can help you negotiate debt down and pay less than you owe. A free consultation can help you decide if debt settlement is right for you.
- Pros & Cons
- Key Takeaways
- Company Overview
You won't pay any upfront fees to enroll in a debt relief program—only pay when you get results
Free consultation can help you see if debt settlement is right for you
Get help negotiating tax debts and a broad range of unsecured debts
Boasts excellent user reviews online
Helps find creditor violations that can lead to cash settlements, dismissed debt amounts, or both
No client dashboard or mobile app available
- Through a process known as debt settlement, CuraDebt aims to help you get out of debt in 24 to 48 months instead of the decades it might take you to get out of debt on your own.
- You won't pay any upfront fees to get started on your debt settlement plan, and you can decide if it's right for you with a free consultation.
- In addition to credit card debt, CuraDebt helps consumers settle past-due tax debts, private student loans, and more.
- CuraDebt also promises to maximize creditor violations in order to help reduce amounts owed and help clients get cash settlements.
Founded in 2000, CuraDebt has been around for longer than many competing debt relief firms. This company claims to have helped over 200,000 customers settle debts for less than they owe so far, and they make it easy to see if debt settlement is right for you thanks to the free consultation they offer. While you can use CuraDebt to begin a debt settlement program online, you can also set up an in-office consultation at their headquarters in Hollywood, Florida.
- Year Founded 2000
- Program Length As little as 24 to 48 months
- Fee Schedule 20% of settled debts
- Customer Service Phone and email
- Phone Number 1-877-850-3328
- Official Website www.CuraDebt.com
Like many other companies that advertise debt relief services, CuraDebt uses a process known as debt settlement to help consumers get out of debt for less than their current balances. This process asks customers to stop making payments on unsecured debts they owe, and to instead begin saving a set amount of money in a dedicated savings account each month. Once enough savings have accumulated, CuraDebt will negotiate with your creditors to help you settle debts for less than you currently owe in balances, interest, and fees.
In addition to helping you settle debts for less, CuraDebt also promises to help you use laws like the Fair Debt Collection Practices Act (FDCPA) and the Telecommunications Consumer Protection Act (TCPA) in your favor. Specifically, they aim to find creditor violations that can lead to cash settlements on your behalf, some debts dismissed, or both.
If you're unsure about using debt settlement to get out of debt, CuraDebt gives you the chance to ask questions and get answers during a free consultation with a debt counselor. If you sign up for one of their plans, you'll only pay fees as each of your debts is settled, and you could become debt free in 24 to 48 months.
- You won't pay any upfront fees to enroll in a debt relief program—only pay when you get results: CuraDebt doesn't charge any upfront fees, and you'll pay an average of 20% of each settled debt in fees as progress is made.
- Free consultation can help you see if debt settlement is right for you: You get the chance to speak with a debt counselor without any obligation, which can help you decide if debt settlement might work for your goals.
- Get help negotiating tax debts and a broad range of unsecured debts: Where some debt relief companies don't help with tax debts, CuraDebt has tax advisors on staff who can help you deal with federal and state tax debts.
- Boasts excellent user reviews online: CuraDebt has mostly excellent reviews on platforms like the Better Business Bureau and Trustpilot.
- Helps find creditor violations that can lead to cash settlements, dismissed debt amounts, or both: CuraDebt has in-house experts who know how to use laws like the Fair Debt Collection Practices Act and the Telecommunications Consumer Protection Act to your advantage.
- No client dashboard or mobile app available: Some debt relief companies offer an online client dashboard or a mobile app, yet CuraDebt does not offer either option.
Because debt settlement requires you to stop making payments on credit cards and other bills, this debt relief method can cause damage to your credit score.
Types of Debt Addressed
While CuraDebt focuses on helping clients negotiate and settle most types of unsecured debt, they advertise help with a broader range of debts than some competing firms. If you have any of the following types of debt, CuraDebt may be able to help:
Credit Card Debt
If you owe money on credit cards and you cannot seem to pay it off on your own, CuraDebt may be able to help. Keep in mind that this type of assistance could apply to traditional credit cards from issuers like Visa and Mastercard as well as store credit cards or private label credit cards.
Medical debts can also become a big problem, and that's especially true when you don't have health insurance. CuraDebt can bundle your medical debts with other unsecured debts you have, then help you pay them off for less than the amount owed.
Personal Loans and Payday Loans
Personal loans and payday loans also qualify for debt settlement, as well as unsecured lines of credit you may have gotten with a bank or another financial institution.
CuraDebt also has dedicated tax counselors who can help you repay past due tax debts. This type of help is available in all 50 states, and federal tax experts are available if you owe money to the Internal Revenue Service (IRS).
Private Student Loans
While federal student loans do not qualify for debt settlement, CuraDebt can help you negotiate private student loan debt you owe.
Debt settlement can work for unsecured debts you have, yet CuraDebt warns their specific type of debt relief does not apply to secured debts. In their FAQ, they state that "any loan that is tied to a physical item, such as auto or mortgage, cannot be included."
CuraDebt doesn't advertise a specific minimum amount of debt you need to qualify for their program. However, they do offer a free consultation that can help you learn more about the debt settlement process and see if you can qualify. While you have the option to speak with a debt counselor over the phone, CuraDebt also accepts in-person appointments at their office in Hollywood, Florida.
During the free consultation, you can ask questions and find out if debt settlement is for you. If you choose to get started with the program, you'll receive a tailored debt settlement plan and instructions on how to begin saving money for future debt settlement. Based on the specifics of your situation, you may be able to settle and pay off all your unsecured debts within 24 to 48 months.
If you're on the fence about trying debt settlement, you can also consider alternative methods to get out of debt such as debt management plans (DMPs) and debt consolidation.
While CuraDebt doesn't offer a client dashboard or a mobile app, they do offer phone customer service as well as email-based customer service. You can also set an appointment for an in-person visit at their offices in Hollywood, Florida, if you live in the area or want to drive there.
If you want to speak with a debt counselor, you can call customer service Monday through Friday from 9 a.m. to 8 p.m. EST or Saturday from 10 a.m. to 3 p.m. CuraDebt doesn't offer phone assistance or in-office visits on Sundays.
While the debt relief industry does offer legitimate services to consumers who desperately need them, plenty of predatory businesses offer questionable services in this space. As a result, you should follow Federal Trade Commission (FTC) warnings and guidelines regarding how to avoid debt relief and credit scams.
Start by researching companies you may want to use for debt settlement, which you can do in a few ways. Check for open cases with the FTC for starters, and search the Consumer Financial Protection Bureau (CFPB) database for complaints.
On a positive note, CuraDebt is not subject to any current investigations with the FTC, and they don't have any registered complaints with the CFPB. Further, CuraDebt boasts excellent reviews from actual customers on platforms such as the Better Business Bureau and Trustpilot.
Also note that CuraDebt is a member in good standing with the American Fair Credit Council (AFCC) and the company is also certified with the International Association of Professional Debt Arbitrators (IAPDA).
If you have a complaint about the services of a debt relief company, you can file a complaint with the FTC or call 877-FTC-HELP
Average Relief Amount
While CuraDebt doesn't advertise an average amount of relief you can qualify for on their website, they do share some client results from 2019 and previous years that show savings of 50% to 80% or more.
Average Time for Relief
CuraDebt states that the length of your debt settlement plan can depend on factors such as how much debt you have and how much you can save each month. However, they advertise an average program length of 24 to 48 months.
CuraDebt doesn't charge any upfront fees, and you only pay when you get results. This company is also upfront about its pricing structure. They advertise an average fee amount of 20% of each of your settled debts, which is on par with the industry average of 15% to 25%.
The Competition: CuraDebt vs. Freedom Debt Relief
|CuraDebt||Freedom Debt Relief|
|Accreditation||Member in good standing with the American Fair Credit Council (AFCC) Certified with the International Association of Professional Debt Arbitrators (IAPDA)||Accredited with the American Fair Credit Council (AFCC) Certified with the International Association of Professional Debt Arbitrators (IAPDA)|
|Services Offered||Debt settlement||Debt settlement|
|Customer Service Touchpoints||Free consultation Phone and email customer service In-person consultations in Hollywood, Florida||Free consultation Phone and email customer service Online client dashboard|
|Fee||No upfront fees Pay an average of 20% of your debt||No upfront fees Pay 15% to 25% of your debt|
|Average Program Time||24 to 48 months||24 to 48 months|
Before you enroll in a debt settlement plan, you should take the time to compare services and pricing with at least two to three other debt relief firms. With that in mind, we took the liberty of comparing CuraDebt to Freedom Debt Relief, another highly rated debt relief company.
First off, you'll notice that both CuraDebt and Freedom Debt Relief have been around longer than many competing debt relief firms. Both also offer a free consultation that can help you decide if debt settlement is for you, and both advertise average program lengths of 24 to 48 months.
However, Freedom Debt Relief does stand out in a few categories, including the fact they offer an online client dashboard. While having an online dashboard may not seem like a big deal, many customers prefer to have access to their own portal where they can track their debt relief plan and progress in real time.
Freedom Debt Relief also advertises fees that start at 15% of your settled debt amount, which could mean you'll pay less overall than you might with CuraDebt. Overall, we believe these factors make Freedom Debt Relief a slightly better option for debt settlement.
CuraDebt is definitely a reputable debt relief company to consider, and we feel confident recommending them for your debt relief needs. Not only do they not charge any upfront fees, but they are very transparent about their services and fees on their website. They also have excellent user reviews, and they may be able to help you settle your debts for 50% of what you owe, or perhaps even less.
How We Review Debt Relief Companies
Investopedia compared more than 15 debt relief companies in an independent study, which we used to compile this review and compare providers based on important factors. Categories we studied include company reputation, customer service options, products and services, company transparency, pricing, and more.
While assigning star ratings to each company, we gave preference to debt relief firms with excellent reviews and third-party rankings and full transparency online. We also gave the highest ratings to providers who have multiple customer service options and technology assets, including a mobile app or a client dashboard.