Types of Debt Covered By Pacific Debt
Pacific Debt specializes in helping clients repay their
unsecured debts. If you have a mortgage or a car loan, for example, the company
can’t help you settle or pay it off. Through its debt settlement program, you
can receive assistance with the following:
- Credit card debt: Credit card debt is one of the most common
types of debt. If you don’t pay your balance in full, every month, it’s all too
easy to acquire. Pacific Debt may help you lower your principal balance as well
as any interest and late fees.
- Personal loans: Personal loans are flexible as you can use
them to cover virtually any expense. If you’re facing personal loan debt, you
might find some relief from Pacific Debt.
- Payday loans: While payday loans can help you out when you
need some cash to hold you over until you get paid next, they come with
sky-high interest rates that can make them difficult to repay. Fortunately,
payday loans qualify for debt settlement with Pacific Debt.
- Medical bills: In a perfect world, health insurance would
cover all of your medical expenses. Since this is rarely the reality, you may
be dealing with high out-of-pocket expenses that turn into large medical bills.
Pacific Debt can help you pay them off.
Pacific Debt Inc. Services
- Breadth of services offering: While Pacific Debt partners
with other companies to offer home equity loans and debt consolidation loans,
it focuses on debt settlement. To get started, you can request a free
consultation with a debt specialist. During a consultation, you’ll learn more
about the program and find out whether you qualify.
- Extent of Geographic Presence: As of 2022, Pacific Debt only
offers its debt settlement services to residents in 29 states and Washington
D.C. The company may expand its reach in the future.
- Minimum Debt: Pacific Debt is designed for those who have at
least $10,000 in unsecured debt. If you only have a few thousand dollars in
debt, you’ll want to consider an alternative option.
- Average Time for Relief: According to the company, most
Pacific Debt clients become debt-free in 24 to 48 months. This time frame is
average in the industry.
- Average Relief Amount: If you follow its program closely,
you’ll likely pay off about 50% of your enrolled debt balances before fees are
considered. Keep in mind that this is not guaranteed and your savings amount
will depend on your debt amount, debt type, creditors, and dedication.
|Breadth of services offering
||Debt settlement with a free consultation, home equity loans, debt consolidation loans
|Extent of Geographic Presence
||29 states and Washington, D.C.
|Minimum Debt Required
|Average Time for Relief
||24 o 48 months
|Average Relief Amount
||50% of enrolled debts before fees
Pacific Debt Inc. Costs and Fees
- Fees: While Pacific Debt doesn’t charge any upfront fees,
you will pay performance fees of 15% to 25% of your enrolled debt amount. Where
you live and how much debt you have will determine your exact fees.
- Cancellation Policy: Pacific Debt doesn’t mention anything
about a cancellation policy on its website. You might want to ask about it
during the consultation so you understand what will happen if you decide to
terminate the program.
- Money Back Guarantee Policy: Some debt settlement companies
promote a money-back guarantee that usually states you won't be charged until
your debt is settled. Pacific Debt doesn’t advertise one.
||15% to 25% of total debt enrolled
|Money Back Guarantee Policy
Pacific Debt Inc. Customer Experience
- Website Extensiveness Usability: Pacific Debt has an
informative website with clear information about its program and the states it
services. There’s also a get started button that begins the consultation
process. Unfortunately, however, there is no client portal.
- Expanded Call Center Support: You can reach Pacific Debt’s
customer service line at (877) 959-6945
at any time Monday through Thursday from 8 am to 6 pm PST and Friday from 8 am
to 4:30 pm EST.
- Multi-channel Support: In addition to phone support, Pacific
Debt can service you via email. Send a message to firstname.lastname@example.org.
You may also reach out to the company on Facebook, Twitter, Instagram, and
LinkedIn. In addition, you can check out its blog articles and use its debt calculator to find out how long it may take you to pay off your debt.
- Mobile Technology: From a technology perspective, Pacific
Debt is a bit behind as it does not offer a mobile app like other debt relief
Pacific Debt Inc. Trustworthiness and Stability
- Years in Business: Pacific Debt was founded in 2002. The
company has provided debt settlement services for 20 years.
- Customers Serviced / Debt Managed: Since its debt in 2002, Pacific Debt has settled over $300 million in unsecured debt for thousands of clients.
- Accreditations/Certifications: Pacific Debt is proud of its
accreditations and certifications from the American Fair Credit Council (AFCC)
and International Association of Professional Debt Arbitrators (IAPDA), which
are both reputable in the debt relief industry.
|Years in Business
|Customers Serviced / Debt Managed
||More than $300 million for thousands of customers
||American Fair Credit Council and certified with the International Association of Professional Debt Arbitrators (IAPDA)
Pacific Debt Inc. User Reviews
If you search the internet for reviews on Pacific Debt,
you’ll find many positive remarks from current and former clients who are
pleased with their experiences. The company has earned 4.8 out of 5 stars on TrustPilot
as well as an A+ rating with 4.79 out of 5 stars on the Better Business Burea (BBB).
In addition, US News and World Reports and Bankrate ranked
Pacific Debt as one of “The Best Debt Settlement Companies of 2020. Most of the
online reviews praise Pacific Debt for its friendly, knowledgeable, and non-judgemental debt specialists who
genuinely care about client success. They state that the debt specialists are
always available to answer questions and address concerns.
Of course, there are a few negative reviews. A few of them warn prospective clients of high pressure sales and scare tactics. Some also mention difficulty with
canceling the program and delays in response times. To avoid these issues, make
sure you understand how the program works, what you’ll be charged for it, and
how you can cancel in advance.
Pacific Debt Compared to Other Companies
||New Era Debt Solutions
||Freedom Debt Relief
|Minimum debt required
||15% to 25% of enrolled debt
||14% to 23% of enrolled debt
||18% to 25% of enrolled debt
||Can cancel at any time without paying a fee
|Average Relief Amount
|| 50% on enrolled debt balances before fees
|| 52.23% on enrolled debt amounts before fees
||20% to 35% after fees
If you have at least $10,000 in unsecured debt and are struggling to pay it off, debt settlement from Pacific Debt might make sense.
This is particularly true if you’re more focused on getting rid of your debt
than improving your credit score. But if your credit is very important to you or you’d like to work with a company that offers advanced technologies like an
online portal and mobile app as well as a money back guarantee, it’s a good
idea to explore other options.