Founded in 1998, Fast Track Debt Relief aims to help its clients get out of debt with a process known as debt settlement. However, they also offer debt consolidation loans that can help you save on interest and become debt-free within up to 84 months. A free phone consultation is offered, which can help you determine if this company offers a debt relief solution that works for your needs.
- Pros & Cons
- Key Takeaways
- Company Overview
Free evaluation can help you walk through potential solutions to help you get out of debt
Live chat available if you prefer to get some of your questions answered online
Can help you settle debts for 30% of what you owe or potentially even less
Debt settlement and debt consolidation loans are offered to clients
Fast Track Debt Relief doesn't disclose its fees for debt settlement
No major accreditations
- Where many debt relief companies focus on debt settlement only, Fast Track Debt Relief also offers competitive debt consolidation loan options.
- It's possible you could settle your debts for as little as 30% of what you owe, and sometimes less.
- Ask questions and get answers during a free consultation, or use their online chat feature to learn more about their process.
- Debt settlement and debt consolidation can work well for unsecured debts such as personal loans, credit card bills, and medical debt.
Fast Track Debt Relief was founded in 1998, so they have a much longer company history than many other top debt relief companies. While this firm is located in Fort Lauderdale, Florida, they help the bulk of their clients manage their debts online and over the phone.
Note that Fast Track Debt Relief offers debt settlement as well as debt consolidation loans, and you can get started with a free consultation.
- Year Founded 1998
- Program Length As little as 12 to 36 months for debt settlement, up to 84 months with a debt consolidation loan
- Fee Schedule Not disclosed
- Customer Service Telephone, email, and online chat
- Phone Number 1-888-DEBT-004
- Official Website www.FastTrackDebtRelief.com
Fast Track Debt Relief is not one of the top-rated life debt relief companies we profiled in our internal study. You can review our list of the best debt relief companies to learn which firms ranked the highest.
Fast Track Debt Relief is unique in the fact that they offer more than one potential debt relief solution to consider. First, this firm offers debt settlement, which is a type of debt relief that asks you to stop making payments on your bills and save your money in a dedicated savings account instead. Once you have enough money saved up to reach your debt settlement program goals, Fast Track Debt Relief gets to work negotiating debts on your behalf. While this company does not disclose their debt settlement fees, they show many top settlement examples where consumers have settled debts for 30% of what they owe or less.
Meanwhile, Fast Track Debt Relief also offers debt consolidation loans with interest rates from 3.99% to 29.99% APR (including autopay discounts) and origination fees from 0% to 4% of the loan amount. Repayment terms are offered from 12 to 84 months, which could be enough time for you to pay down all the debts you owe. With a personal loan for debt consolidation, you won't pay less than you owe on your debts, but you can save money on interest compared to what you're paying now.
- Free evaluation can help you walk through potential solutions to help you get out of debt: Like other debt relief companies, Fast Track Debt Relief lets you speak with a debt specialist who can help you determine your next best steps.
- Live chat available if you prefer to get some of your questions answered online: Most debt relief companies do not offer a live chat option, yet Fast Track Debt Relief does.
- Can help you settle debts for 30% of what you owe or potentially even less: Debt relief examples on the company website show how clients have settled debts for 30% of the amounts they originally owed, and sometimes less than that.
- Debt settlement and debt consolidation loans are offered to clients: Fast Track also stands out due to the fact it focuses on more than one debt relief option for consumers. You can use them to create a debt settlement plan, but they will also give you advice on debt consolidation.
- Fast Track Debt Relief doesn't disclose their fees for debt settlement: The average debt settlement fee range is 15% to 25% of settled debts, yet Fast Track does not disclose their fees or offer any type of fee range for debt settlement.
- No major accreditations: Fast Track Debt Relief is not accredited by the Better Business Bureau, the American Fair Credit Council (AFCC), or the International Association of Professional Debt Arbitrators (IAPDA).
Types of Debt Addressed
Fast Track Debt Relief doesn't list specific types of debt they help clients pay off, yet the two types of debt relief they offer—debt settlement and debt consolidation—are geared to unsecured debts. Generally speaking, unsecured debt includes most types of debt that are not secured by collateral. Types of debt Fast Track Debt Relief may be able to help with include:
Credit Card Debt
If you have high-interest debt on credit cards, Fast Track Debt Relief can help you in one of two ways. They can help you negotiate and pay off your credit card bills for less than you owe, or they can help you save money and get on a debt repayment plan with a debt consolidation loan.
Past Due Medical Bills
Medical debt can also be problematic. However, you can potentially pay less for your medical bills by lumping them into a debt settlement plan.
Personal Loans and Unsecured Lines of Credit
Other unsecured debts you could settle can include personal loans and lines of credit you may have with a bank or credit union. You can also consolidate personal loans and other debts with a new debt consolidation loan.
Fast Track Debt Relief offers a live chat feature that can help you get answers to some basic questions without having to speak to someone over the phone. From there, you have the option to get a free quote to see how much you can save, and you'll get the chance to speak with a debt specialist who can talk through your options and help you decide which type of debt relief to pursue.
The company has excellent user reviews on Trustpilot, albeit not very many considering how long this company has been in business.
If you want to speak with someone in person, Fast Track does have one location in Fort Lauderdale, Florida. Otherwise, you can reach out to them via their online chat function or call their office. Fast Track Debt Relief does not list any specific hours of operation.
The debt relief industry isn't known for being reputable as a whole, yet there are plenty of good companies out there. Before you sign up for debt settlement or work toward any other debt relief solution, it's smart to research companies you're considering and get to know their processes inside and out.
You should also check with the Federal Trade Commission (FTC) to ensure any company you're considering isn't part of a lawsuit with them.
When you conduct these searches for Fast Track Debt Relief, you won't find any complaints with the CFPB within the last three years. Also, note that Fast Track is not part of any lawsuits with the FTC.
The company is also not accredited with the American Fair Credit Council (AFCC) or the International Association of Professional Debt Arbitrators (IAPDA), unlike many other debt relief companies out there.
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
Fast Track Debt Relief has a debt settlement example page where they list some of their most successful settlements to date. Some of their examples show debts settled for 30% or less of the amount originally owed, yet you should know these examples don't take debt settlement fees into account.
Average Time for Relief
While Fast Track Debt Relief doesn't advertise an average amount of time for relief on their website, the examples they share include clients that have completed a program within 12 to 36 months. They say it can take up to 84 months to complete the process.
The industry average for debt settlement is 15% to 25% of debt amounts settled. However, Fast Track Debt Relief does not disclose their fee range for debt settlement. With that being said, this firm does advertise debt consolidation loans with origination fees that range from 0% to 4% and interest rates that range from 3.99% to 29.99% including autopay.
If you plan to pay off debt with a debt consolidation loan, you should know many companies in this space offer personal loans without an origination fee.
|Fast Track Debt Relief||National Debt Relief|
|Accreditation||Not a member with the American Fair Credit Council (AFCC) Not accredited with the International Association of Professional Debt Arbitrators (IAPDA)||Accredited with the American Fair Credit Council (AFCC) Accredited with the International Association of Professional Debt Arbitrators (IAPDA)|
|Services Offered||Debt Settlement Debt Consolidation Loans||Debt settlement|
|Customer Service Touchpoints||Free consultation Phone and email customer service Live chat||Free consultation Phone and email customer service Online client portal|
|Fee||Not disclosed for debt settlement||No upfront fees Pay 15% to 25% of your debt|
|Average Program Time||12 to 36 months||24 to 48 months|
When it comes to debt relief, there are dozens of companies you can reach out to for help. But first, you'll be a lot better off if you compare the best debt relief companies in terms of the services they offer, their company reputation, and the fees they charge.
To help you with this step, we decided to compare Fast Track Debt Relief to National Debt Relief, the most highly rated debt relief company out there.
While National Debt Relief only offers debt settlement (no option for debt consolidation loans), they truly stand out from the competition. Not only is National Debt Relief accredited with the American Fair Credit Council (AFCC), and the International Association of Professional Debt Arbitrators (IAPDA), but they also disclose their fees upfront.
National Debt Relief also offers an online client portal that can help you track your debt settlement plan in real time.
Fast Track Debt Relief may offer the answer you're looking for, but make sure to speak with them about their fees ahead of time. While they're transparent about the terms and conditions of their debt consolidation loans, this company doesn't offer any information about the debt settlement fees they charge.
Fortunately, they do offer an online chat feature and a free consultation that can help you get your questions answered before you commit.
How We Review Debt Relief Companies
Investopedia conducted an internal survey of more than 15 debt relief companies in order to provide rankings and star ratings for our debt relief reviews. We compared debt relief firms based on the services they offer, the fees they charge, transparency, company reputation, and third-party reviews.
Overall, we gave the highest scores to debt relief companies who are transparent about their offerings and the fees they charge, as well as those who have a solid company reputation and excellent reviews from past customers.
Fast Track Debt Relief. "Options." Accessed Jan. 11, 2022.
Forbes. "Debt Settlemet: How It Works And Is It Worth The Risks?". Accessed Jan. 12, 2022.
International Association of Professional Debt Arbitrators. "IAPDA Certified Debt Specialists." Accessed Jan. 12, 2022.
American Fair Credit Council. "View Members." Accessed Jan. 12, 2022.
Trustpilot. "Fast Track Debt Relief." Accessed January 12, 2022.