Services Offered

There are many ways consumers can manage their debt more successfully. They can set a budget and stick to it. They can find a source of additional income. They can avoid using high-interest credit cards and repair their credit profiles by practicing good credit habits. Many consumers who find themselves with overwhelming debt turn to debt relief companies that advocate on their customers' behalf to negotiate with credit card companies. But one of the most effective ways to reduce the cost of carrying debt is to take out a debt consolidation loan. That's the space wherein Simple Debt Solutions primarily operates.

The company employs a team of highly qualified loan advisers who specialize in helping consumers find solutions that moves them closer to being debt-free. The main tool Simple Debt Solutions uses are debt consolidation loans, but their team may also provide budgeting tips and tips on how to improve your credit score. The company is not a full-service debt relief company, however. It generally doesn't negotiate with creditors on clients' behalf, for example, or look for errors in your credit report. When analyzing a consumer's debt position, under certain circumstances, the company may recommend hiring a debt relief company as part of an overall debt reduction strategy. Advice on reducing debt is one of the valuable services.

Rates and Terms

Debt consolidation loans can help make managing your debt from month to month more affordable. When you take out a debt consolidation loan, Simple Debt Solutions will pay off your high-interest debt, eliminating the need to make payments to multiple credit providers. You then pay back the money you owe by making a single payment directly to the company. Simple Debt Solutions states that the loan terms it offers are flexible, but doesn't enumerate consumers' loan term choices.

The interest rate the company offers you will depend on several factors, including the amount you want to borrow, your loan term, and your creditworthiness. Since many consumers who seek out a debt consolidation loan have poor credit ratings, Simple Debt Solutions has less stringent credit requirements. People with below-average or even poor credit scores may still be approved for a loan.

Simple Debt Solutions is not a direct lender. The company works with multiple lenders to find you the best possible loan deal for your difficult circumstances. According to the customer representative we spoke with, current rates start at 6.99%. But the company advertises that it can bring your monthly payments down by as much as 50%. It also claims that its loans can help you become debt-free in two to five years.

Reputation

Although it's a relatively new business, Simple Debt Solutions earns an A rating from the Better Business Bureau. Currently, there are no individual consumer reviews for the company on the BBB website. However, Trustpilot publishes over 400 reviews of the company. Trustpilot users give the company a near-perfect score of 4.9 out of 5 stars. Most cite the level of knowledge Simple Debt Solutions employees bring to the table and their willingness to answer questions about the complicated subject of reducing debt as reasons for their great reviews.