Simple Debt Solutions: The loan is required to start any work or fulfill our personal needs, but the problem comes when we cannot repay that loan, which becomes a problem for us.
Due to stress, we do not understand what to do. A simple debt solution is a straightforward and manageable approach or strategy for individuals or organizations to solve their financial debt-related challenges. These solutions are generally designed to help borrowers regain control of their finances, reduce their debt burden, and work toward a debt-free future.
Simple debt solutions often include budgeting, negotiating with creditors, debt repayment strategies, and financial counseling to effectively manage and eliminate debts while avoiding unnecessary complications or excessive financial stress.
This post is written only for information purposes, which tells you how to deal with your debt.
Simple Debt Solutions Review
| Article Topic | Simple Debt Solutions |
| % of Debt fee | 19% to 25% of the enrolled debt |
| Minimum debt Owed | $10,000 |
| Experience | 3 Years Experience (Founded 2020) |
| Simple Debt Solutions Contact Number | Call Now (800) 485-0094 |
About Simple Debt Solutions Companies
Simple Debt Solutions offers debt relief services to people struggling with unsecured debts, such as credit cards, medical bills, personal loans, etc. The company claims to help its clients reduce their debt by up to 50% and become debt-free in as little as 24 to 48 months. The company also provides free consultations, personalized plans, and dedicated customer support.
We often require loans for our personal needs like medical expenses, school fees, credit card bill payments, etc., on which we are mostly charged high interest rates.
Simple Debt Solutions Company’s support team can prove helpful to us in avoiding such high-interest loans.
The company takes a personalized approach to help its customers find the right loan option for their financial needs.
Simple Debt Solutions aims to help its customers find low-interest rates, flexible repayment terms, and manageable monthly payments to achieve their financial goals without additional stress.
However, before signing up with any debt relief company, it is always advisable to research, compare different options, and read the terms and conditions carefully. You should also be aware of debt relief programs’ potential risks and drawbacks, such as negative impact on your credit score, tax implications, fees, etc.
Key Features:
- Minimum debt requirement: Simple Debt Solutions exclusively works with clients with a minimum debt balance of $10,000, a standard prerequisite for most debt settlement companies.
- Performance-driven fees: Unlike many debt settlement firms that charge fees based on the total enrolled debt, Simple Debt Solutions determines its charges based on the savings achieved when a settlement is accepted.
- IAPDA certification: Simple Debt Solutions prioritizes the training and accreditation of its debt resolution specialists through the International Association of Professional Debt Arbitrators (IAPDA). However, it is not affiliated with the American Fair Credit Council (AFCC), a prominent trade association in the debt settlement industry.
- Diverse debt categories: They specialize in settling various types of debt, including private student loans, business debt, as well as unsecured debts like credit cards and personal loans.
Simple Debt Solutions Pros & Cons
Simple Debt Solutions helps you compare various loan products from their network of lender partners and find the best option for your situation. Here are some of the advantages and disadvantages of Simple Loan Solutions:
| Pros | Cons |
| Provide free consultation and a customized plan based on your financial situation and goals. They also provide transparent information and professional advice on their website and blog. | Nominees charge 19% to 25% of the loan, which is deducted from your monthly payment. This means you’ll pay more in the long run than if you paid off your loan yourself. |
| Work with a wide range of lenders who offer competitive interest rates and flexible terms. They can help you consolidate various debts, such as credit cards, personal loans, medical bills, payday loans, etc. | They have a long processing time of 24 to 48 months, which is longer than some other debt-relief options. It also means you’ll have to deal with creditor calls and collection actions for longer periods. |
| Their minimum loan requirement is $10,000, making them accessible to more consumers who need debt relief. | They do not service their debt relief cases but use a third-party company to handle the negotiations and settlements with your creditors. This may affect the quality and consistency of the service you receive. |
| They have a strong reputation in the industry and are accredited by the American Fair Credit Council (AFCC) and the International Association of Professional Debt Arbitrators (IAPDA). | They are not available in all states, only in 36 states. You can check their website to see if they service your state. |
Some Simple debt solutions According to me
Credit Counseling Services: Numerous nonprofit credit counseling agencies in the United States offer free or low-cost financial counseling. They can help you create a budget, negotiate with creditors, and provide debt management plans.
Debt Consolidation Loans: Consider consolidating your high-interest debts into a lower-interest personal loan. This can simplify your payments and potentially reduce your overall interest expenses.
Balance Transfer Credit Cards: Look for credit cards with introductory 0% APR offers on balance transfers. Transferring high-interest credit card debt to one of these cards can provide a temporary interest-free period for repayment.
Student Loan Refinancing: If you have student loans, explore the option of refinancing. This can potentially lower your interest rate and monthly payments.
Debt Repayment Plan: Develop a structured plan for paying off your debts. You can use the debt snowball method (paying off the smallest debts first) or the debt avalanche method (tackling the highest-interest debts first).
Avoiding New Debt: While working on paying down your existing debt, refrain from taking on new debt. Be mindful of your credit card usage and avoid making large purchases or taking out new loans that could exacerbate your debt situation.
FAQs Related to Simple Debt Solutions
How does simple debt solutions work?
Simple Debt Solutions is a service that helps consumers struggling with debt find the best loan option. They are not direct lenders, but rather a marketplace that connects borrowers with lenders that offer debt consolidation loans. Debt consolidation loans allow you to combine multiple debts into a single loan with a lower interest rate and a fixed monthly payment. This can help you save money on interest, pay off your loan faster, and simplify your finances.
What is the best solution for debt?
The best debt solution depends on individual circumstances. It often involves a combination of strategies: creating a budget, building an emergency fund, choosing a debt repayment plan, negotiating with creditors, and avoiding new debt. Seek professional guidance if needed, and stay committed to your chosen approach for effective debt management.
What is debt consolidation?
Debt consolidation is a financial strategy that involves combining multiple debts, such as credit card balances, personal loans, or medical bills, into a single, new debt. This new debt could be in the form of a consolidation loan, a balance transfer credit card, or a home equity loan, depending on the individual’s financial situation. The primary goal of debt consolidation is to simplify the repayment process and potentially reduce the overall cost of debt. By consolidating multiple debts into one, individuals can often secure a lower interest rate, which can make their monthly payments more manageable.
