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Our Score

PROS

N

Great reputation in the industry

N

Great settlement rates

N

Great settlement services

N

Large national presence

N

No minimum debt requirement

N

Good consolidation options

CONS

M

Take longer than many other companies to see results

Debt can be an all-consuming problem for many individuals in the United States. Oftentimes, it can seem like there is no escaping the clasps of high-interest debt. This is especially true if you have multiple credit card balances and problems paying them off. On top of this, you may find it hard to manage having various payments that have different due dates. Many Americans have been refinancing and consolidating their debt to help reduce the complexity in their lives. This has done a great job of helping people move forward in their lives.

But what if you’re not eligible for consolidation? Or what if you find that even if you get a lower interest rate you still won’t be able to pay back your debt on time? Sometimes, lenders will allow you to reach a debt settlement which allows you to make an agreement to pay back your debt at a much lower amount than what you owe. This is an awesome opportunity for many borrowers who are able to get their debt reduced by about 30%.

New Era Debt Solutions is a debt relief company that offers services to their clients who are trying to get their financial lives back on track. This review will take an in-depth look at the company to decide if they’re right for you.

Overview

New Era Debt solution is often brought up in discussions regarding debt consolidation, but the truth is that they don’t offer debt consolidation – they offer debt settlement. If you think that you could benefit from settlement, this might be the right company to work with.

New Era Debt Solutions negotiates with your lenders to try and get you the best possible deal to reduce your debt. They have expertise in working with lenders to hash out an agreement that works for both parties. They’re well known for achieving great results. They only downside to New Era Debt Solutions is that they take a bit longer than some of the other companies that we review – their average timeframe is between 36-48 months.

One of the best parts about New Era Debt Solutions is the fact that they don’t have a minimum lending amount that you have to be in debt with. It doesn’t matter how small your debt is, they’ll be willing to take on your case. This is in stark comparison to many other debt settlement companies that tend to have high minimums – some may require you to even have about $10,000 in debt.

In terms of the average reduction they are able to achieve for their clients, the company gets about 37% of their clients’ debt reduced.

 

Critics

We always try and take a look at what customers think of the companies we review in order to get a true insight into the way they value their client base. Having an understanding of what a company’s customer base thinks of their work is often the best way to know if they are practicing high quality work. Several reviews over the internet give New Era Debt strong praise for its debt consolidation services. Some of the review sites indicate that New Era offers the lowest fees for debt settlement and debt consolidation. Other reviews consider the company’s debt counseling services quite strong.

The reviews state that New Era hires knowledgeable representatives and provides useful and transparent information on its website. We’ve researched a few different consumer watchdog groups to see what they have thought New Era Debt Solutions.

 

Top Ten Reviews

According to TopTenReviews.com, New Era scores high in its transparency with customers. New Era received a score of 81 percent by TopTenReviews.com based on the review company’s interaction with the New Era’s customer service department. According to TopTenReviews.com, New Era’s rates average 14 to 20 percent for its debt consolidation service. That average is 5 percent lower than other debt services. However, the review site mentions that New Era is not AFCC or USOBA accredited.

 

Best Company

According to BestCompany.com, New Era has a good BBB rating that stands at an A+. BestCompany.com also notes that New Era offers a free consultation and provides Spanish speaking representatives. However, BestCompany.com points out that New Era is missing some important accreditations, and the company’s website is missing a dashboard that updates its customers about their progress. Another point to consider is that New Era only deals with unsecured debt and that car loans, student loans and home mortgages do not quality for assistance.

 

Consumer Affairs

Several past customers of New Era posted reviews on ConsumerAffairs.com and shared their experiences. One customer raved about New Era’s customer service department and how the representatives answered every question. The customer was also pleased with New Era’s ability to consolidate every debt into one low monthly payment. Another former customer claimed that the staff was icy and it was hard to contact a qualified representative. However, the customer was satisfied with the end result, which was debt settlement.

 

Verdict

So, what’s the overall verdict? New Era Debt Solutions is an awesome company if you’re looking for settlement arrangements. They have a great reputation for fighting for the best possible deal for you and your family.

They have some great online tools that can help you find out what kind of benefits you’ll receive from settlement. You shouldn’t underestimate the amount of stress that debt settlement can relieve if you fit the right criteria. Remember, debt settlement should be viewed as a last resort. If you think that you can handle having your debt refinanced, this is almost always the better option. Debt settlement stays on your credit report for a considerable amount of time, which can have a damaging impact on your ability to receive credit in the long-term. Make sure you assess all your options before making any final decisions.