Accredited Debt Relief
- Best for: People with unsecured balances of $5,000 or more they can’t repay who have ruled out a nonprofit debt management plan
- What Sets It Apart: A graduation review that refunds the difference if creditor payments and fees top your enrolled debt; every settlement offer needs your approval
- Cost: 15% to 25% of enrolled debt, earned only after you approve a settlement and pay on it; $9 setup and $9.75 a month for the dedicated account
- Features: Credit cards, store cards, personal loans, medical bills, and some private student loans; most programs run 24 to 48 months; all 50 states and D.C.
- Pros: Clients who make every deposit repay about 55% of enrolled debt on average before fees; 4.8 Trustpilot average from more than 12,000 reviews; no CFPB enforcement actions
- Cons: A total of roughly 70% to 80% of enrolled debt once fees are added; credit damage and possible lawsuits while deposits build; forgiven debt is generally taxable
Enroll with Accredited Debt Relief only when your unsecured debt is more than you can repay and a nonprofit debt management plan won’t fit your budget. Its reviews and fee-refund guarantee are strong, but the 15% to 25% fee, the credit damage, and possible taxes on forgiven debt make it a last resort.
Accredited Debt Relief, a division of Beyond Finance, negotiates settlements on credit card, medical, and personal loan debt for less than you owe. It’s built for people with unsecured balances of $5,000 or more who can no longer keep up with their payments.
Key Features
- Fees of 15% to 25% of enrolled debt, varying by state and balance, earned only after you approve a settlement and pay on it
- One monthly deposit into a dedicated account you own, run by a third party for $9 up front and $9.75 a month
- A $5,000 minimum in credit cards, store cards, personal loans, medical bills, or some private student loans
- Programs of 24 to 48 months for most clients, in all 50 states and D.C., with options varying by state
Pros
- Clients who make every deposit repay about 55% of enrolled debt on average before fees, by the company’s count
- A graduation review that refunds the difference if creditor payments and fees top your enrolled debt
- A 4.8 average from more than 12,000 Trustpilot reviews and an A+ BBB rating for Beyond Finance
- No CFPB enforcement actions against it or Beyond Finance
Cons
- On $20,000 of enrolled debt, an average finisher pays about $14,000 to $16,000 once fees are added, by our math
- Credit damage, growing fees and interest, and possible collections or lawsuits while deposits build
- Forgiven debt generally counts as taxable income unless you’re insolvent
Try a nonprofit credit counselor first, because a debt management plan keeps you paying your creditors, at interest rates they may agree to lower, without settlement’s fee or missed payments. If that plan still leaves your payments out of reach, Accredited is a well-reviewed choice, and Freedom Debt Relief is the main alternative to price against it.
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