Since the median credit card interest rate is currently at 19

Cons Explained

  • Does not disclose their fee amount upfront: The industry average for debt settlement fees falls between 15% to 25%, yet Progressive does not share how their fees stack up.
  • Not accredited with the Better Business Bureau or the American Fair Credit Council (AFCC): Most reputable debt relief companies have some major accreditations, yet Progressive Debt Relief does not.
  • Troubling customer complaints: If you dig around, you’ll find some troubling reviews and customer complaints for this provider. For example, some Better Business Bureau complaints talk about poor customer service, broken promises, and poor experiences overall.?

Types of Debt Addressed

Like all debt relief companies, Progressive Debt Relief only helps consumers settle the unsecured debts they have. While unsecured debt can come in many forms https://www.paydayloansohio.net/cities/west-chester/ such as credit card debt or medical bills, this type of debt includes monies owed that are not secured by collateral.

Payday Loans

Progressive Debt Relief claims they were one of the first companies to help consumers break the cycle of using payday loans to stay afloat. While any unsecured debt can be problematic, payday loans can cause huge problems since typical interest rates can be around 400%.??

Credit Card Debt

Credit card debt can also become costly for consumers, and that’s especially true when you have a large debt load. 24%, the interest you pay can make paying your balance off a challenge.

Medical Bills

Past due medical bills can also add up quickly if you don’t have health insurance (or even if you do). Progressive Debt Relief can bundle medical bills into your debt settlement plan with the goal of helping you pay less than you owe.

Business Debts

Progressive Debt Relief also helps its customers settle business debts they owe. The business debt just needs to be unsecured to qualify.

Client Onboarding

If you decide you may want to work with Progressive Debt Relief, you get the benefit of a free consultation with no obligation to move forward on your part. During the consultation, a debt relief counselor will talk through your situation and analyze your debts. From there, they will help create a game plan that can help you settle unsecured debts for less than you owe.

Keep in mind that debt specialists are trained to help you with your personal situation, but that they also know how to use laws like the Fair Credit Billing Act, the Fair Credit Reporting Act, and the Fair Debt Collection Practices Act to your advantage.

Progressive Debt Relief doesn’t advertise a specific length of time its debt settlement programs take. This is an important question to ask during a free consultation, just as you should ask for information on its debt settlement fees.

Customer Service

Progressive Debt Relief really stands out due to their client portal, which you can access on their website. This portal is a feature not offered by all debt relief companies, yet customers tend to like having portal access because it gives them a chance to monitor their debt settlement plans without having to call in or email for help.

Customers can also reach out to Progressive Debt Relief over the phone or via their customer service email. If you decide to call in for help, you should know that customer service hours are from 9 a.m. to 5:30 p.m. EST, Monday through Friday.

Company Reputation

The debt relief industry doesn’t have a great reputation, and in fact, there are many shady companies that make dubious claims. If you take the time to learn more about debt relief options, you’ll quickly discover that the Federal Trade Commission (FTC) frequently shares warnings about debt relief and credit repair scams.