TurboDebt Reviews: Is This Debt Settlement Company Worth It?

TurboDebt reviews are mostly positive for this relatively new debt settlement company. But there’s a catch you need to know about.

TurboDebt is a partner of National Debt Relief. You’ll be bound by its fee structure and terms. Both companies can offer legitimate debt relief services, but they come at a steep price.

US credit card balances reached $1.079 trillion near the end of 2022. Unpaid balances are climbing too. Could TurboDebt offer the relief you need?

What Is TurboDebt?

TurboDebt is a debt settlement company. It helps consumers negotiate with creditors to lower total debt amounts. It also connects you to debt relief programs.

The company aims to help you regain control of your finances. But you need to understand how debt settlement works before signing up.

TurboDebt Reviews Earn High Ratings

As of January 2024, TurboDebt has 4.8 out of 5 stars on Google. That’s from more than 2,300 customer reviews.

Many customers praise the simplicity of the process. They appreciate the company’s commitment to customer service. One client wrote: “I was in over my head and he showed me a way out.”

However, some reviews paint a different picture. A few customers describe representatives as “pushy” or unprofessional. Others seem unaware that debt settlement negatively impacts credit scores.

TurboDebt vs. National Debt Relief

Since TurboDebt partners with National Debt Relief, you need to examine both companies. National Debt Relief scores 4.6 out of roughly 4,500 reviews on Google.

Negative reviews generally revolve around these complaints:

• Customers didn’t understand the fee structure
• Customers didn’t know the impact on their credit scores
• Customers didn’t realize they could still be sued

The company charges up to 25% of your total debt amount. That’s a significant fee you need to factor into your decision.

How Does TurboDebt Work?

TurboDebt claims you could be debt-free in 24-48 months. You start with a free consultation by phone or online form.

The form asks about your debt amount, payment habits, and contact details. A TurboDebt representative will reach out to explore your options.

Once enrolled, TurboDebt negotiates with your creditors to lower your total debt. You make regular payments into a TurboDebt account. These payments fund the negotiated settlements once agreements are reached.

Here’s the catch: debt settlement programs require you to stop making payments to creditors. You’ll face additional fees and interest charges. There’s no guarantee creditors will agree to settle.

Because TurboDebt partners with National Debt Relief, you’ll actually be working with the larger company. TurboDebt likely earns a commission from this arrangement.

You get a free initial consultation. After that, you’re in the hands of National Debt Relief and its fee structure.

TurboDebt Success Example

Danel used TurboDebt to pay off $9,459 in debt in just 10 months. He saved $2,503, which is 27% of his total debt amount.

How Much Does TurboDebt Cost?

TurboDebt offers a free initial consultation. But remember, you’ll be bound by National Debt Relief’s price structure.

Fees range between 15% and 25% of your total debt settled. National Debt Relief claims clients save 46% by using their services.

You need to do the math for your situation. Calculate whether the savings outweigh the fees.

Does TurboDebt Hurt Your Credit?

Yes, working with TurboDebt can hurt your credit score. Debt settlement generally decreases your credit score, regardless of which company helps you.

Most debt relief companies advise you to stop making payments to creditors. You focus on saving money for your settlement offer instead. Your credit score drops during this negotiation process.

Your credit score might drop while working with TurboDebt. But if you stay consistent with payments after settling, your credit will eventually increase. It can even exceed your score before resolving your debts.

Should You Settle Debt on Your Own?

You can take matters into your own hands. Our partner Solo helps you settle debts yourself without expensive settlement companies.

Here’s how settling on your own is different:

• You settle the debt yourself without middlemen
• You have legal defense built in if you’re sued
• You don’t make payments until you’ve reached a settlement agreement
• You can settle a debt of any size, not just debts over $15,000
• You stay updated with each step until your creditor accepts an offer

How DIY Debt Settlement Works

Dave is being sued for a $7,000 credit card debt by PRA Group. He first responds to the lawsuit to buy time. After reviewing his finances, Dave decides he can afford to pay 65% of the debt right now, or $4,550.

He starts negotiating by offering 40% of the debt, or $2,800. After a few rounds of counteroffers, PRA Group’s attorney agrees to settle for 60%, or $4,200. Dave saves thousands of dollars and gets the case dismissed.

Here’s what a real customer says:

“I’m very thankful for this service. Having a third party negotiate the settlement was instrumental in resolving this case. I didn’t have to deal with the plaintiff’s lawyer. I didn’t have to go to court. The payment was processed securely without sharing my personal financial data with the other side. I would use this service again in a heartbeat.”

Is TurboDebt Worth It?

TurboDebt reviews indicate it’s a legitimate service for debt settlement. But you need to keep these things in mind:

• TurboDebt partners with National Debt Relief to handle your case
• TurboDebt is a new company without a long-term track record
• Your credit score will still be impacted, regardless of which company you choose
• Fees can reach 25% of your total debt settled
• Creditors aren’t required to accept settlement offers

You may benefit from pursuing your own debt settlement options. Even if your creditor has initiated a lawsuit, you can still negotiate.

If you’re facing unmanageable debt or a debt lawsuit, our partner Solo can help you respond and negotiate directly with collectors.

Your Path Forward With Debt Relief

Every consumer needs tools to take charge of their finances. You have options beyond expensive debt settlement companies.

You can respond to debt collection lawsuits yourself. You can negotiate settlements directly with creditors. You can save thousands in fees by handling the process yourself.

Whether you choose TurboDebt or another path, make sure you understand the full cost. Know how it affects your credit. Know that creditors can still sue you during the settlement process.

Armed with this information, you can make the best decision for your financial future.