New Era Debt Solutions

About Company

New Era, a reputable debt relief company with a long-standing presence of over two decades in the industry, has been a valuable resource for individuals willing to live debt-free. Over the years, they have successfully assisted clients from across the nation in settling more than $275 million in debt.

The team at New Era comprises a diverse range of professionals, including financial experts and legal advisors. Their collective expertise allows them to offer tailored solutions and the best debt relief services to clients facing varying debt circumstances.

Understanding that each client's financial situation is unique, New Era takes a personalized approach to address individual needs.

Key Features

1. Two Decades of Experience. With over 20 years in the industry, New Era Debt Solutions brings a wealth of experience to help clients navigate their debt challenges.

2. $275 Million in Settled Debt. New Era Debt Solutions has a proven track record, having successfully settled over $275 million in debt for clients nationwide.

3. Emphasis on Transparency. The company places a strong emphasis on transparency and ethical practices, ensuring clients are well-informed throughout the debt settlement process.

4. Client-Centric Approach. New Era is known for its client-centered approach, putting the best interests of clients at the forefront of their services to help their clients get out of debt.

5. Diverse Professional Team. The team at New Era includes financial experts and legal advisors, providing a wide range of expertise to address various debt situations.

6. Personalized Solutions. Recognizing that every client's financial situation is unique, New Era tailors its solutions to individual needs.

7. Client Education and Empowerment. New Era Debt Solutions is committed to empowering clients through education and support, enabling them to take control of their financial future and live debt-free.

Pros and Cons

Pros

1. Professional Expertise. New Era's team includes financial experts and legal advisors who bring their expertise to the table, ensuring that clients receive professional debt settlement programs.

2. Track Record of Success. With a history of settling over $275 million in debt, New Era has a strong track record of helping clients achieve significant debt reduction and get out of debt.

3. Customized Solutions. New Era understands that one size doesn't fit all when it comes to debt management. They provide personalized solutions and free debt analysis tailored to individual financial circumstances.

4. Transparent Process. Clients appreciate the transparency New Era offers throughout the debt settlement process, providing peace of mind and trust.

5. Client Empowerment. New Era's commitment to client education and empowerment enables individuals to take control of their financial future, making informed decisions about their debt.

6. No Upfront Fees. New Era Debt Solutions does not charge any upfront fees for its services.

Cons

1. Fees Based on Settlements. New Era debt relief specialists charge fees based on the settlements achieved, which means you only pay when a debt is resolved. However, these fees can vary, ranging between 14% to 23% of the original debt enrolled.

2. No Guaranteed Outcomes. While New Era has a strong success rate, there are no guarantees in the debt settlement process, and results may vary depending on individual circumstances.

3. Debt Impacts. Debt settlement can negatively affect your credit score, as it often involves negotiating to pay less than the full amount owed, which can be reported on your credit report.

4. Complexity. Debt settlement can be a complex process, and navigating it may require time and effort, as well as professional guidance from New Era's team.

5. Potential Creditor Relations. Debt settlement could strain relationships with creditors, as it involves negotiating to pay less than the original debt amount, potentially leading to legal actions or collection efforts.

How Does New Era Debt Solutions Work?

New Era Debt Solutions offers a debt settlement program designed to help individuals tackle their unsecured debts accounts effectively. Unlike debt consolidation or credit counseling, which primarily focus on lowering interest rates without affecting the total debt balance, the debt settlement program takes a different approach.

Debt settlement program operates by negotiating to pay a reduced amount on your debts, often less than the original principal balance. This approach provides a swifter and more direct means of addressing your debt burden. Most creditors, recognizing the challenges posed by bankruptcy proceedings, are typically open to accepting reduced payments to close out an account.

Cost

Cost is a critical aspect to consider when evaluating New Era Debt Solutions. Their reliance on a performance-based fee model, charging clients between 14% to 23% of the original debt enrolled only after a settlement has been achieved, aligns with responsible and ethical practices. This approach eliminates monthly administrative fees and ensures that clients only pay for debt relief services rendered, which is a distinct advantage. However, it's important to weigh these costs against individual financial situations.

Types of Debt Settled by New Era Debt Solutions

New Era Debt Solutions specializes in settling various types of debt, with a primary focus on credit card debt. Credit card debt is particularly well-suited for the debt negotiation process, as credit card companies often stand to gain nothing from bankruptcy or other debt relief alternatives. New Era's expertise in managing credit card debt enables individuals to find a responsible and effective path to financial freedom.

Risks Associated with a Settlement Program

1. Credit Score Impact. Debt settlement often involves paying less than the full amount owed, potentially leading to a negative impact on your credit score.
2. No Guaranteed Success. There are no guarantees in the debt settlement process, as outcomes can vary based on individual circumstances and creditor cooperation.
3. Fees. While New Era Debt Solutions employs a performance-based fee model, fees can range between 14% to 23% of the original debt enrolled, which should be carefully evaluated in the context of your financial situation.
4. Creditor Relationships. Debt settlement may strain your relationships with creditors, as it involves negotiating to pay less than the original debt amount, potentially resulting in legal actions or collection efforts.

Reliability

Reliability is at the core of New Era Debt Solutions' commitment to their clients. With a Google rating of 4.9 and accreditation from the Better Business Bureau (BBB), they have consistently demonstrated their trustworthiness and dedication to delivering on their promises. In 2022, the company was also honored with the title of "Best Company," further solidifying its status as a trusted and dependable partner for individuals seeking responsible and effective solutions to their debt challenges.

However, it's crucial for every individual to make an informed decision when considering their services. While New Era's track record and reputation speak to their reliability, the choice to engage in debt settlement should be a well-informed one, taking into account the potential risks and benefits associated with this financial strategy.

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

• neweradebtsolutions.com
• New Era Debt Solutions. bbb.org