Based in Boca Raton, FL this debt settlement company has been in business for almost four years. Debt Remedy Solutions provides debt negotiation services to clients looking for an alternative to bankruptcy.

Here are some quick facts about Debt Remedy Solutions LLC:

Company Founded:- Business start date 8/10/05

Years In Business:- 3 years

BBB Rating:- F

BBB Complaints:- 90 total complaints

Fee Information:- unknown

Escrow Available?:- unknown

Source of Funds:- Client payments

Fee Structure:- unknown

Avg. % Settled:- unknown

Refund Policy:- unknown

Minimum Debt Required:- $10,000 unsecured debt

About the Company:

Debt Remedy Solutions LLC had a rating of “N/R” from the Better Business Bureau when this review was prepared. A rating of N/R from the Better Business Bureau is displayed when “another BBB issues the report on the subject company, or when the Bureau is conducting system maintenance.” The BBB received 90 complaints in the last 36 month reporting period. Of the 90 complaints 76 were in reference to the company “agreeing to perform according to their contract” and 10 complaints regarding some issues with refunds.

This company is a member of The Association of Settlement Companies (TASC) and offers a link to a D&B Report on their website.

The Program:

It appears Debt Remedy Solutions provides the standard debt settlement services, negotiating with your creditors to reach a settlement for less than the balance owed. I was unable to find information regarding the fees or fee structure on the company website, however, I did find information elsewhere in a review that suggests the company has a front loaded fee structure. Most debt settlement companies that have a front loaded fee structure collect a large portion of their fees in the first few months (1-3) with some form of maintenance fee spanning the length of the program. It is important to understand that any program that collects the majority of their fees at the beginning of the program means you will have less money growing to settle your debt. This will increase the amount of time before negotiations can be made as in most situations creditors require a lump sum payment once they agree to a settlement. In short, when you put money aside for settlements each month and the settlement company collects the majority of that money for fees, you are extending the amount of time before you have enough money to settle your debts.

Website Experience :

The website experience can be summed up in one word – frustrating. I’m afraid there isn’t much information specific to this company available based on the information provided on their website. I found it interesting that on their “About Us” page they have more information about the negative comments on the Internet than they do about the actual company. This may be due to the fact that when doing an Internet search for more information, I quickly discover many negative comments from “clients”. The reason I found this interesting is if they want to warn you about negative information available on the Internet due to “unregulated free speech” then perhaps they might want to beef up the information available on their website about the company, fees, refunds and other information potential clients are looking for when reviewing a company to work with in desperate times.

With that being said, the website covers some of debt settlement basics, such as the potential negative consequences.  Of course you are free to contact them for a no obligation complimentary consultation to review your situation. I’m sure at that time you would be able to obtain more information regarding the fee structure and what it would cost to participate in their program.

Regarding the negative comments found on the web, that is pretty standard within the industry. The debt settlement process is risky and not to be considered by anyone with the resources to pay their debts in full. Unfortunately a lot of the comments for this and most other debt settlement companies complain about the actual process itself. The risk of being sued, not having an account settled, wage garnishments and tax ramifications are all possibilities when using this process. Consumers who enter this or any settlement program expecting it to be a simple and pain free process without consequences are setting themselves up for disappointment.

Overall, if I were looking to settle debt and had to choose a company based solely on the information provided by their website (which is not recommended) I would be hesitant to use this company.  I would love to see more information regarding fees, refunds, length of program and who handles your money while you wait for settlements.  As always, remember this is a review based on my findings and my opinion only; I encourage all potential clients to fully research settlement companies on their own prior to making a decision whether or not to use their services.

Conclusion