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New Era Debt Solutions Review

If you’re looking for a way to get out of debt, a debt settlement plan with New Era Debt Solutions might make sense. This is particularly true if you have at least $20,000 in unsecured debts and want to work with a reputable company that offers a free consultation and intuitive client dashboard.

New Era Debt Solutions
New Era Debt Solutions
4.0
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Diverse service offering
Diverse service offering
Low minimum debt requirement
Low minimum debt requirement
No retainer fee is required
No retainer fee is required
Trustworthiness and stability
Trustworthiness and stability
Anna Baluch
Written by:Anna Baluch
Personal Finance Writer

Founded in 1999 and headquartered in Camarillo, California, New Era Debt Solutions specializes in debt settlement plans that help its clients pay off debt in three years or less. To date, the company has settled over $250 million in debt. You can start the process with a free consultation without paying any upfront fees.

If you decide to move forward and start the program with New Era Debt Solutions, you’ll receive support from highly trained and knowledgeable debt relief specialists and a team of attorneys who will ensure compliance with state and federal laws.

Editor’s Note (Warning)

If you’ve fallen behind on your debt, debt settlement from a company like New Era Debt Solutions might seem like the ideal option. But before you pursue it, it’s important to understand the risks of this debt relief method.

First and foremost, it can destroy your credit with delinquencies, which will remain on your credit reports for up to seven years. Bad credit can make it difficult for you to take out loans and credit cards with low rates and favorable terms.

Debt settlement is also expensive. Even though you may be able to get started for free, performance fees can add up quickly. Also, you might owe taxes on any forgiven debt and there’s no guarantee a company will successfully negotiate with all your creditors.

The good news is there are alternative ways to get out of debt. Depending on your situation, you may be better off with DIY debt relief strategies like the debt snowball or debt avalanche, debt consolidation, credit counseling, and bankruptcy.

Summarized Rating

This parameter considers service offering breadth, geographic reach, and minimum debt level requirements. Each of these features was evaluated using the five-point scoring system. Then, the various scores were aggregated and averaged to establish an overall services and solutions score.

NewEra gets an above average 3.7 for Services and Solutions. This reflects its fairly standard service offering and minimum debt requirement, along with an expansive geographic footprint.

New Era Debt Solutions Pros and Cons

Before you take the plunge and decide to work with New Era Debt Solutions, consider these benefits and drawbacks.

New Era Debt Solutions Pros
Free debt analysis: A free consultation is offered.
No upfront fees: You won’t have to pay anything upfront.
Can get out of debt in two to three years: It usually takes two to three years.
Staff of attorneys: A team of attorneys help with compliance.
Spanish services and resources: You can receive services in Spanish.
Weekend support: Customer service is available on Saturdays.
New Era Debt Solutions Cons
Unclear minimum debt requirements: Minimum debt criteria is unavailable.
Not available everywhere: Services are not available in five states.

Types of Debt Covered By New Era Debt Solutions

New Era Debt Solutions focuses on settling unsecured debts. According to them, these debts are “ "not tied to a specific material item that could be repossessed by the creditor." Here are some examples of unsecured debts that may qualify for its debt settlement program:

  • Credit card debt: Due to the high interest rates that come with credit cards, credit card debt is one of the most common types of debt. New Era Debt Solutions can help you settle debt from traditional credit cards and store credit cards.
  • Medical bills: If your insurance didn’t cover all of your medical expenses and you have medical bills that are past due, New Era Debt Solutions may be able to help. The company can settle them for less than you owe.
  • Personal loans and payday loans: Personal loans are flexible loans that can be used to cover just about any expenses. Payday loans are short-term, small-dollar loans designed to hold you over until your next pay day. Both personal loans and payday loans qualify for debt settlement with New Era Debt Solutions.
  • Private student loans: If you have private student loans, New Era Debt Solutions might be able to negotiate them down. Keep in mind, however, that federal student loans are not eligible.

New Era Debt Solutions Services

  • Breadth of services offering: New Era Debt Solutions sole offering is debt settlement. Once you fill out a form and request a free debt analysis online, you can connect with a debt relief specialist to learn more about the program as well as how long it may take you to complete.
  • Extent of Geographic Presence: While the company does have a fairly widespread presence in the U.S., its debt settlement services are not available to residents in Delaware, Illinois, Iowa, Maine, and Oregon.
  • Minimum Debt: Most debt relief companies only work with clients who meet their minimum debt requirements, which are usually $7,500 or $10,000. New Era Debt Solutions does not disclose whether they have a minimum debt threshold.
  • Average Time for Relief: While debt settlement programs vary based on how much debt you have and your savings abilities, New Era Debt Solutions states their average program length is 28 months. This is lengthy as the industry average is 14 months.
  • Average Relief Amount: On average, New Era Debt Solutions clients save an average of 52.23% on enrolled debt amounts, not accounting for fees. Of course, your relief amount will depend on your particular circumstances.
Breadth of services offering Debt settlement with a free consultation
Extent of Geographic Presence Not available in Delaware, Illinois, Iowa, Maine, and Oregon
Minimum Debt Required Not disclosed
Average Time for Relief 28 months
Average Relief Amount 52.23% on enrolled debt before fees

New Era Debt Solutions Costs and Fees

  • Fees: Fortunately, New Era Debt Solutions doesn’t charge upfront fees. But you will have to pay performance fees of 14% to 23% of your total enrolled debt. This is a bit less than what you’d owe with other debt relief companies.
  • Cancellation Policy: There is no information on what will happen if you decide to terminate a debt settlement program with New Era Debt Solutions. It’s a good idea to inquire about its cancellation policy during a consultation.
  • Money Back Guarantee Policy: Some debt relief companies offer a money back guarantee in which they’ll refund your money if you’re not satisfied with their program. New Era Debt Solutions doesn’t mention any type of guarantee.
Upfront Fees None
Settlement/Performance Fees 14% to 23% of the enrolled debt
Other Fees None
Cancellation Policy Not disclosed
Money Back Guarantee Policy None

New Era Debt Solutions Customer Experience

  • Website Extensiveness Usability: New Era Debt Solutions has a robust website with a client dashboard and no shortage of resources. If you speak Spanish, you can translate the site to Spanish.
  • Expanded Call Center Support: You may speak to a debt specialist from 7 a.m. to 8 p.m. PST, Monday through Saturday, or with a regular customer service agent from 8 a.m. to 5 p.m. PST, Monday through Friday. The company may also support you after hours, as long as you make an appointment.
  • Multi-channel Support: If you prefer to contact New Era Debt Solutions via email, you can send a message to info@newerads.com or fill out an online contact form. Another option is to reach out on social media outlets like Facebook, LinkedIn, or Instagram.
  • Supplemental Support (Information Tools): The New Era Debt Solutions website is packed with useful information and tools, such as a debt savings calculator, FAQ page, completed client samples, and a blog with useful articles on topics such as debt, credit, and personal finance.
  • Mobile Technology: While New Era Debt Solutions does have a convenient client dashboard, it doesn’t offer a mobile app you can use to manage your program and track your progress on the go.

New Era Debt Solutions Trustworthiness and Stability

  • Years in Business: New Era Debt Solutions has been around since 1999. It’s offered debt settlement services for 23 years.
  • Customers Serviced / Debt Managed: According to New Era Debt Solutions, the company has settled over $250 million in debt for thousands of customers.
  • Accreditations/Certifications: To prove its reputability, New Era Debt Solutions has joined the American Fair Credit Council (AFCC) and International Association of Professional Debt Arbitrators (IAPDA).
Years in Business 23
Debt Settled Over $250 million in debt
Accreditations/Certifications International Association of Professional Debt Arbitrators, International Association of Professional Debt Arbitrators (IAPDA)

New Era Debt Solutions User Reviews

New Era Debt Solutions has been accredited with the Better Business Bureau (BBB) since 2001 and holds an A+ rating. The company also earned 4.9 out of 5 stars on TrustPilot and 4.8 out of 5 stars on Consumer Affairs. In addition, New Era was named as one of the best settlement companies of 2022 by Forbes Advisor featured on Worldwide Business with Kathy Irelad.

If you read reviews from current and former clients, you’ll find that most of them are very positive. Many clients praise New Era for its helpful debt relief specialists who have treated them with dignity and respect. They state that they were well-informed throughout the whole process and couldn’t be happier with the first-class service experience they received.

Fortunately, there are only a few negative reviews. These reviews state that New Era Debt Solutions didn’t save them money and they could’ve negotiated with their creditors on their own to avoid the fee.

New Era Debt Solutions Compared to Other Companies

New Era Debt Solutions Freedom Debt Relief Accredited Debt Relief
Minimum debt required Not disclosed $7,500 $10,000
Fees 14% to 23% of enrolled debt 18% to 25% of enrolled debt 15% to 25% of enrolled debt
Cancellation Policy Not disclosed Can cancel at any time without paying a fee Not disclosed
Average Relief Amount 52.23% on enrolled debt before fees 20% to 35% after fees Up to 45% of enrolled debts after fees

Final Thoughts

New Era Debt Solutions has an excellent reputation among clients and reputable third-party organizations alike. Plus the company offers impressive features like a client dashboard and online debt settlement calculator. It also caters to Spanish speaking customers.

Since you can schedule a debt analysis for free, it doesn’t hurt to do so. You can get some more information about the program and figure out whether it’s a good option for your specific situation. If you do decide to work with New Era, you’ll need to commit to the program and be persistent to see results.

Anna Baluch

Anna Baluch

Personal Finance Writer

Freelance copywriter who enjoys writing for large publications as well as startups, small to medium sized businesses.

More about me