Capital Debt Settlement Review

Capital Debt Settlement is a debt management company based in Fresno, California. Operating since 2003, this company has over six years experience helping consumers overcome debilitating debt in their lives. They started out focusing on debt settlement but have since added debt consolidation as an option for consumers trying to get their finances back on track. Their goal is to use the experience and knowledge in the credit industry to help you regain control off your finances and start fresh without the burden of debt holding you back from achieving your financial goals.

Here are some quick facts about Capital Debt Settlement:

Company Founded:- April 2003

Years In Business:- 6

BBB Rating:- D-

BBB Complaints:- 2 complaints reported in three year reporting period

Fee Information:- unknown

Escrow Available?:- yes

Source of Funds:- client payments

Fee Structure:- see below (the program); fees vary per person and program

Avg. % Settled:- 30%-70%

Refund Policy:- unknown

Minimum Debt Required:- unknown

About the Company:

A file for Capital Debt Settlement can be found on the Better Business Bureau. The BBB currently has this company listed with a rating of D- with the reason for this rating based on the industry in which the company conducts business. In the last reporting period (36 month) the BBB processed a total of two complaints against this company both of which are currently listed as closed and resolved. Of the two complaints one has been resolved with acceptance from the consumer, the other has been addressed and resolved without acceptance from the consumer.

The company website also lists the following memberships or affiliations: The Association of Settlement Companies, International Association of Professional Debt Arbitrators, U.S. Chamber of Commerce and a report available through Dunn and Bradstreet.

The Program:

Debt counseling program- They offer the standard program which includes creating a repayment plan with your creditors to get your accounts in good standing while lowering interest rates and waiving fees and penalties. They do this by negotiating better terms with your creditors and establishing an affordable monthly payment which you send directly to them. In turn they will pay your creditors accordingly helping you keep your accounts in order and current. Clients enrolled in the debt counseling program can expect to repay their debt in full while saving money through reduced interest rates which will allow more of your payment to go toward the principle balance you owe. Clients enrolled in this program can expect to pay an upfront fee as well as monthly “management” payments throughout the program.

Debt settlement- This program has an entirely different process, end result and is offered only to clients who are unable to make their minimum monthly payments. Capital Debt Settlement will negotiate with your creditors on your behalf to reach a settlement of 30%-70% of the original amount owed. In the meantime, you will be making one monthly payment into a FDIC insured account which will be used for future settlements. Once an account has been settled, you are free from that debt and able to move on to the next account until all debt has been eliminated. Fee information will be disclosed prior to enrollment and include a series of payments throughout the first year and a half of the program.

To get started you simply have to fill out a form on the company website or contact Capital Debt Settlement via a toll free number listed on the site. You will then be eligible for a free consultation where you can determine which program is right for your specific situation.

Website Experience:

Unlike many reviews where I form an immediate “like” or “dislike” opinion, I find myself on the fence after visiting this website. The website itself is pretty basic, lacking the nifty tools, gadgets, newsletters, articles and various other information that is often found on websites in this industry. That is not necessarily a negative however, as it is more important what information is provided versus what is not present. In fact, when it comes to providing important and necessary information this website does a good job of covering important facts associated with the debt settlement process at least. The website is relatively easy to navigate with most information easily found in the most logical location (again, not always the case with many websites).

I have found a few reviews in other locations online with mixed results. Some people claim they have worked with the company and are pleased with the results, while others complain that they are not satisfied with the program in which they enrolled. As I have mentioned time and time again when reviewing companies, it is hard to determine if clients are unhappy because the company has not performed according to contract or clients do not fully understand what to expect when enrolling in a program.

Therefore I am not in a position to recommend clients either consider or steer clear of this company based on the information I have reviewed. I will say that being in business for six years, having only two complaints in three years and the fact that their website makes no attempts to mislead or confuse visitors speaks in their favor in my book. Of course don’t take my word for it, do your own research before deciding if this company is right for your financial situation and please let us know if you have experience with this company.

Conclusion