Mediator Debt Solutions

About Company

Mediator Debt Solutions is a debt mediation company with a singular goal: to assist individuals in crafting the lives they aspire to lead by empowering those affected by debt through inspiration, action, and change. They specialize in reducing debt burdens through direct negotiations on behalf of their clients and creating personalized financial plans to payoff debt faster.

Mediator Debt Solutions is committed to standing with their clients side by side until their debt is fully resolved, ensuring that no one feels alone in their journey to financial stability. Their approach includes negotiating debt to a fraction of the owed amount, ceasing interest payments upon enrollment, and providing dedicated support at every stage.

This company understands that debt can be exacerbated by various financial hardships, such as medical issues, loss of income, or divorce, which are often beyond an individual's control. Mediator Debt Solutions emphasizes that their services are a responsible and ethical alternative for those facing financial hardship, offering relief without resorting to bankruptcy.

Key Features

1. Debt Negotiation Expertise. Mediator Debt Solutions specializes in negotiating with creditors to reduce the amount of debt you owe.

2. Personalized Financial Plans. They create individualized financial plans to help you pay off your debt more effectively.

3. Interest Cessation. When you enroll in their program, interest payments on your debt stop, enabling you to make progress toward debt repayment without the added interest costs.

4. Dedicated Support. Mediator Debt Solutions provides consistent support throughout your debt relief journey with a team dedicated to helping you.

5. Comprehensive Debt Resolution. They remain by your side until your debt is fully resolved, ensuring you have ongoing assistance throughout the process.

Pros and Cons

Pros

1. Professional Negotiation Skills. Mediator Debt Solutions has a team of experts who are skilled in negotiating with creditors, increasing your chances of reducing your debt burden.

2. Customized Debt Plans. They offer personalized financial plans, ensuring that your debt repayment strategy aligns with your unique financial situation and goals.

3. Interest Savings. By immediately stopping interest payments when you enroll, they help you save money and pay off your debt more efficiently.

4. Ongoing Support. Their commitment to standing by your side until your debt is fully resolved means you have continuous support throughout your debt relief journey.

5. Ethical Debt Relief. Mediator Debt Solutions provides an honest and ethical alternative to bankruptcy, making it a responsible choice for those facing financial hardships.

6. Empowerment and Inspiration. Beyond debt reduction, they focus on inspiring positive change and empowering individuals to take control of their financial future.

Cons

1. Fees and Costs. While Mediator Debt Solutions can reduce your debt, their services may come with fees, which can vary. It's essential to understand and budget for these costs.

2. Credit Impact. Enrolling in a debt mediation program may impact your credit score, as it involves negotiations with creditors, which can be noted on your credit report.

3. Not Suitable for All Debts. This type of service typically works best for unsecured debts, such as credit card debt, but may not be applicable to all types of debt.

4. Time-Consuming. Debt negotiation and resolution can be a lengthy process. It may take several years to complete the program, and during this time, you may still receive collection calls.

5. Not a Guaranteed Solution. While Mediator Debt Solutions will make efforts to reduce your debt, there's no guarantee that all creditors will agree to their proposed terms.

6. Limited to Eligibility. To qualify for their program, you need to meet specific criteria, such as having at least $7,500 in unsecured debt and facing legitimate financial hardships, which may exclude some individuals.

How Does Mediator Debt Solutions Work?

1. Talk to a Debt Specialist for Free. At Mediator Debt Solutions, the process begins with a conversation. One of the Mediator Debt Specialists takes the time to understand your unique financial situation. Together, you'll work on customizing your monthly deposit amounts. These deposits are based on your financial goals, the total amount of debt you've enrolled, and your budget.
2. Make Monthly Deposits. You'll work with Mediator Debt Solutions to open a savings account in your name. This account is under your complete control, and it's where you'll send your monthly program deposits. These deposits are designed to help pay off your debts systematically, according to the payment plan.
3. Stop Using Your Credit Cards. Once you're enrolled, it's time to leave communications with your creditor(s) to the debt resolution negotiators at Mediator Debt Solutions. They handle the negotiations on your behalf, allowing you to stop using the line of credit or loan that your program is targeting.
4. The Company Starts Negotiating Your Debt. The team of debt resolution negotiators at Mediator Debt Solutions begins working on securing settlements with your creditors and debt collectors. Their goal is to enhance your savings, reduce your overall payments, and resolve your debt as swiftly as possible. They'll determine which of your accounts to settle first using the funds available in your savings account.
5. Track Your Progress. You'll have access to your account information through entire process. 24/7 you can visit Mediator Debt Solutions' online client portal. Plus, their Client Service Representatives will provide consistent updates as you progress through the program. This transparency allows you to stay informed throughout the debt relief process.
6. Your Debts Are Getting Resolved. When a creditor agrees to a settlement, your approval is required. The funds you've diligently built up in your savings account will be used to pay off the agreed settlement amount. Once your creditor has been paid in full, that specific debt is considered "resolved," marking a significant step toward achieving financial freedom.

Cost

The cost of Mediator Debt Solutions' program can vary depending on your individual circumstances, the amount of debt you have, and the specific terms of your program. Generally, there are fees associated with their services, which are typically explained during the initial consultation.

It's important to remember that while there may be costs involved in enrolling in the program, the potential benefits often outweigh these expenses. Mediator Debt Solutions' debt relief program can help you reduce your overall debt burden, save on interest, and create a clear path toward financial stability. It's crucial to discuss the program's cost structure with their team to understand how it applies to your unique financial situation fully.

Types of debt settled by Mediator Debt Solutions

1. Credit Card Debt. If you have substantial credit card debt, Mediator Debt Solutions can negotiate with your creditors to reduce the amount you owe.
2. Unsecured Loans. Unsecured loans, such as personal loans and lines of credit, can also be included in their debt resolution program.
3. Vehicle Repossessions. If you're facing the repossession of your vehicle due to unpaid loans or outstanding debt, Mediator Debt Solutions can work to resolve these issues.
4. Collections. Debt that has been sent to collections agencies can often be negotiated and settled through their services.
5. Medical Debt. Unpaid medical bills can be a significant financial burden. Mediator Debt Solutions can help you navigate and resolve medical debt.
6. Business Debt. If you're dealing with business-related debts, Mediator Debt Solutions may be able to assist in negotiating settlements and reducing the financial strain.

Risks associated with a settlement program

1. Impact on Credit Score. Debt settlement typically involves negotiating with creditors to settle for less than the full amount owed. This can result in negative entries on your credit report, potentially lowering your credit score.

2. Creditor Non-Agreement. There's no guarantee that all creditors will agree to a settlement. Some may refuse to negotiate, leaving you with unresolved debts.

3. Accrued Interest and Fees. While enrolled in a settlement program, interest and late fees may continue to accrue on your debts, potentially increasing the overall debt amount.

4. Tax Implications. The IRS may consider the forgiven debt amount as taxable income, leading to potential tax consequences that you'll need to address.

5. Impact on Future Borrowing. A negative credit history and the settlement itself may make it more challenging to secure credit or loans in the future, and if you do, the terms may be less favorable.

6. Possible Legal Action. While in a debt settlement program, some creditors may choose to take legal action against you to collect the debt. This can result in additional expenses and stress.

7. Non-Guaranteed Results. There is no guarantee that debt settlement will result in a successful resolution for all your debts. It can be a lengthy and uncertain process.

8. Fees and Costs. Debt settlement companies often charge fees for their services. It's important to understand the fee structure and how it may impact your overall financial situation.

9. Financial Discipline. Debt settlement programs require financial discipline to make consistent monthly payments. Failure to do so can jeopardize the success of the program.

10. Long-Term Effects: Debt settlement may impact your financial stability for years, making it essential to carefully consider its long-term effects on your overall financial health.

Reliability

Mediator Debt Solutions stands out as a reliable option. Operating as an established law firm, their commitment to ethical practices is underscored by an A+ rating from the Better Business Bureau, an organization known for assessing and validating the credibility of businesses. Furthermore, they operate within the regulatory framework set by the State Bar, adding an extra layer of accountability and professionalism to their services. At Mediator Debt Solutions, the well-being of their clients is their foremost concern. This dedication to client satisfaction and ethical operations reinforces their reliability as a company that genuinely works to assist individuals in managing and resolving their debts, free from the risks associated with less reputable entities.

Therefore, when considering any debt relief program, including Mediator Debt Solutions, it's crucial for individuals to think for themselves and take into account their specific circumstances, financial goals, and risk tolerance.

Editorial Opinion

Additional resources

To learn more about debts and best practices, check out some of the following resources:

• Debt Consolidation Companies
• Best Debt Consolidation Loan Options
• Federal Debt Relief Agencies
• Debt Consolidation Loans for Bad Credit
• Top Debt Consolidation Loan Companies
• Consolidate Payday Loans With Bad Credit
• Credit Card Consolidation Loan Providers
• Student Loan Debt Relief Providers
• Leading Debt Relief Companies Reviewed
• Bill Consolidation Loan Providers
• Debt Consolidation Company List
• Emergency Debt Relief Programs
• Federal Debt Relief Agencies

Sources

• mediatordebtsolutions.com
• Mediator Debt Solutions. bbb.org