Pacific Debt Inc. Review

Tamara By: Tamara | Last updated January 31, 2019

pacific debt inc. logo homepage debt consolidation

9.3 / 10

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PROS:

  • Their fees are some of the lowest on the market
  • Many years of experience and all the major accreditations, excellent rating with the BBB
  • They offer helpful educational materials
  • Average minimum debt required and average program length

CONS:

  • Only available in 28 states
  • No mobile account management available
  • Low average reductions after fees
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SUMMARY:

Pacific Debt Inc. has some of the lowest fees on the market, but the average reductions after fees are not great. They don’t operate in all states, but they have good ratings from customers, all the major industry accreditations and over 14 years of experience in this business.

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COMPLETE REVIEW

Pacific Debt Inc. was founded in 2002 and it is based in San Diego. It has an A+ rating with the BBB (Better Business Bureau) and it is an accredited member of the American Fair Credit Council and recently, IAPDA.

The company offers several debt relief services and debt consolidation is one of them.

In order to be eligible for their debt consolidation program, you have to have at least $10,000 in unsecured debts such as credit cards, medical bills and so on. There are some debts that don’t qualify, such as payday and student loans.

Although they charge some of the lowest fees on the market for their services, Pacific Debt Inc. also has one of the lowest average reductions after fees, which is not the greatest deal.

The length of their program varies between 24 and 48 months, depending on the situation. We consider this to be an average period of time.

There are no upfront fees with Pacific Debt, although that’s normal, since industry regulations specifically prohibit that.

One thing we didn’t like about this company is the fact that their program is not available in all states. Actually, they are only available in 28 states (Alaska, Alabama, Arkansas, Arizona, California, DC – District of Columbia, Florida, Hawaii, Iowa, Idaho, Indiana, Kentucky, Massachusetts, Maryland, Michigan, Minnesota, Missouri, Montana, North Carolina, Nebraska, New Mexico, New York, Oklahoma, Pennsylvania, South Dakota, Texas, Utah and Virginia).

The first step you have to take if you want to enroll would be to call them for your free consultation. You can also fill in the form on their website (personal info, state of residence, types of debt you need help with and the amount of money you owe) and you will be contacted by one of their specialists.

The rep who is assigned to you will analyze your income, your monthly expenses and the nature of your debt. If everything looks okay and you are eligible for their program, you will be enrolled and Pacific Debt will start to negotiate with your creditors. You will then have to start depositing money into your FDIC-insured account. The money will be used to pay both your creditors and the fee charged by Pacific Debt, but the latter one, only when you’ve successfully consolidated your debt.

One thing we didn’t find with this company is the ability to manage your online account from your mobile device. Most competitors include that, too.

Pacific Debt doesn’t just help you consolidate your debt, it also focuses on educating people on debt related issues and offering useful financial tips. Their website includes a blog and articles that explain everything you need to know about debt consolidation, debt settlement, credit counseling, bankruptcy and more.

Pricing

This company charges from 15% to 22% of your total enrolled debt, which is one of the lowest fees on the market. They also claim on their website that customers “who make all their monthly program deposits pay approximately 50% of their enrolled balance before fees, or 65% to 85% including fees”.

Help/Support

Phone – toll free: (877) 722-3328; Hours of operation: Monday – Thursday, from 8 am to 5 pm PST

Friday: 8 am to 3 pm PST

Email: [email protected]

Social media: Facebook, Twitter

Facebook: https://www.facebook.com/pacificdebt/

Pacific Debt Inc. can be contacted via phone or email. However, their work schedule is kind of short. You can only reach them during weekdays and even then, the hours of operation are not the best we’ve seen so far (see above).

In addition to direct contact, they offer self-help resources: the FAQ section, their blog.

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Our editorial staff evaluates products and services independently, but Best Review Guide may earn money when you click on links. Read our advertising disclosure.

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