Debt Free Destiny

NetDebt.com lays claim to revolutionizing “the debt industry by creating the nation’s only completely online enrollment solution”. Its aim is to provide referral information regarding debt relief and settlement services, without forcing the consumer into dealing directly with a representative.

NetDebt.com provides a niche service to consumers that feel that discussing their debt is too embarrassing and would rather just fill out an online form and get assistance completely electronically. NetDebt caters to these customers who may otherwise go unassisted.

If the customer changes their mind and wants to talk to someone, they can call NetDebt and speak to a rep as well.

The program can be completed entirely online and trained consultants are available for personal assistance. NetDebt is not the company that eventually deals with your overdue credit account. NetDebt acts as a referral service and consumers who invest time into the qualification portion of the program will be referred to professional debt negotiators, such as attorneys, who will negotiate with your creditors on your behalf.

Here are some quick facts about NetDebt:

Company Founded in	2007
Years in Business	2
Number of Employees	Unknown
BBB Rating	Unknown
BBB Complaints	Unknown
Free Services	Free Consultation
Escrow or Payment Plan Available	Yes, through a trust account
Source of Funds	Client makes monthly payments
Fee Structure	15% of total debt, plus a monthly service fee
Avg Settlement	Unknown
Refund Policy	No
Minimum Debt Required	$2000

About the Company:

NetDebt has created a hassle-free way of dealing with debt problems from the privacy of one’s own home. They enlist and work with professionals in finance, law, and debt elimination services in order to pair up customers with the appropriate debt assistance plan. In other words, they act as a free referral service.

Why an Attorney?

NetDebt.com states that in times of deep debt situations, having an attorney represent your best interests will help save you from unnecessary struggles and will also save you large amounts of fees if you were to hire an attorney to represent you outside of the program.

Fees and Charges

A monthly fee is set by the legal team with whom you sign a contract and the money is set into a Settlement Deposit Account and allowed to build. Negotiations for settlement of debts will be dependent upon the amount of money collected in the account.

Since NetDebt is a referral service, all fees paid during the course of the program are charged by the referred attorney, not NetDebt.

Interestingly, the company website sites on is FAQ page that the law firms used in the debt negotiations can not assist a client with eliminating interests, fees, or other charge build ups on your overdue accounts account.

However, when funds in the trust account are sufficient enough to settle an account, Netdebt’s website states that the total amount of the debt payoff settlement is “typically far less than the total balance due.” There’s no clear average percent of what other customer have settled for, like other debt settlement websites, or sample settlement letters.

Other Thoughts

NetDebt.com’s website does not provide a lot of upfront information about specific services or the company in general. It seems more to focus on getting applicants to qualify for the program. It markets its services to those who have been prevented from seeking assistance due to personal feeling of embarrassment, being overwhelmed or afraid to discuss their personal finances with another party.

NetDebt’s other purpose seems to be efficiency, streamlining the process to help customers get started with the settlement process as soon as possible.

Website Experience

NetDebt’s website is well organized and the abundance of videos makes it easy to understand their process and what’s involved when choosing debt settlement. After you put in your numbers, there a slick graph that comes up and shows you how much you’ll save by choosing debt settlement.

There is no specific information regarding the attorney process that is the heart of the program. What’s unclear is who is your primary contact after the referral to the attorney? If there is a problem, who does the customer call?

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