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CuraDebt

2022 review

CuraDebt offers debt settlement and debt negotiation services, backed by decades of experience. You can get debt relief for just about any kind of unsecured debt, including tax debt.

8.0 / 10
Editorial Score
Ginny Dorn
Ginny Dorn
Personal finance and mortgages specialist
January 6, 2022

Overview

CuraDebt has been in business for over two decades, and has counseled more than 200,000 people on debt relief. Through its debt settlement program, CuraDebt can help with debt from credit cards, medical bills, personal loans, IRS debt, back taxes, and more. It does not offer debt settlement on most types of secured debt.

When you go through a debt settlement program with CuraDebt, you’ll be asked to stop making payments to your creditors. Instead, you’ll make deposits into a special bank account. Once you have enough saved, CuraDebt reviews your creditors for violations that may save you money. Then, it negotiates with your creditors to accept a lower amount than you owe.

Although CuraDebt isn’t Better Business Bureau accredited, it maintains a 4.97/5 star rating with them. It also has a “Great” rating on TrustPilot. With these customer reviews and decades in business, it’s safe to say that CuraDebt is reputable.

Best Choice 2022
8.0 / 10
Editorial Score
CuraDebt
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8.0 / 10
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6.0 / 10
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Products & Services

CuraDebt offers debt settlement for unsecured debt, which is debt that is not backed by collateral. In some cases, it may be able to assist with debt from lawsuits or student loans – however, this requires a free consultation to determine whether your situation qualifies. It can also help with tax issues, including IRS debt and back taxes.

Debt Settlement Program

CuraDebt offers a debt settlement program that can help you pay off debt within 24 to 48 months. You may choose a debt settlement program if you’re struggling to make payments on your debts or if you want to pay off debt faster than you would by simply making monthly payments.

CuraDebt offers debt settlement for:

  • Credit card debt
  • Medical debt
  • Personal loan debt
  • Lines of credit
  • Commercial debt
  • Collections and repossessions

To qualify for the program, you’ll need at least $5,000 in qualifying debt. CuraDebt will first connect you with a debt expert who will review your finances and determine if you’re a good fit for the program. The consultation is completely free and can be completed over the phone or at one of CuraDebt’s offices.

Next, CuraDebt will walk you through a personalized debt settlement plan. It will ask that you stop paying your creditors. Instead, you’ll make deposits into a special purpose account. While you’re saving, CuraDebt will look for potential violations that your creditors may have made, which could save you money.

When you have enough saved, CuraDebt will negotiate with your creditors. If they come to an agreement, you’ll be asked to approve the settlement. When you do, you’ll pay your creditor from your special purpose account, as well as CuraDebt’s fee. This process will repeat itself for each debt until you’re debt free.

Before signing up, you should note that debt settlement programs like the one offered by CuraDebt can impact your credit score. These programs work by allowing your accounts to become delinquent, meaning you stop paying your bills. This alone can harm your credit score. Additionally, a debt settlement can stay on your credit history for 7 years. The entire process can lower your credit score by up to 100 points.

Despite the drawbacks, debt settlement may still be a viable option if you have exhausted other options and want to avoid bankruptcy. If you want to get out of debt quickly and value that time saved over a higher credit score, CuraDebt’s program might be a good fit for you.

Tax Debt Relief for IRS Debt and Back Taxes

If you’re dealing with back taxes or IRS debt, you know how confusing and overwhelming the process can be. CuraDebt provides a 3-phase program, which begins with its tax team conducting an investigation. During this first phase, the tax team may request an immediate stay of enforcement with the state or IRS. Then, they review your current and projected financials.

From there, they pull your master tax file and tax transcript for review in comparison to your penalties. Then, they may prepare tax returns if need be. That may be for any tax returns that weren’t filed when they were originally due, or it may be to correct previous tax returns.

As a last step, CuraDebt takes any final steps to find a resolution based on the investigation, resolving the state or IRS tax issue.

Note that CuraDebt’s tax services are not available in Pennsylvania or Puerto Rico.

Rates and Terms

CuraDebt doesn’t charge any upfront fees. On average, you’ll pay about 20% of each settled debt to CuraDebt, though the percentage varies depending on what state you live in. You only pay when your debt is settled, never before.

The debt settlement plans generally take 24 to 48 months, but the term will vary depending on how much debt you need to settle and how much you can save each month leading up to the debt negotiation. The more you save, the faster CuraDebt can begin negotiations.

Application Process and Qualifications

The application process always begins with a free debt counseling session. This requires a phone call or in-office visit, during which a debt expert will review your finances. After gaining a complete understanding of your situation, they will determine if you qualify for a debt settlement program. The consultation is confidential with no obligation to agree to services.

To qualify, you must have at least $5,000 in qualifying debt that you’d like to settle. This is a low minimum in comparison with other companies, which usually require at least $7,500 or $10,000. You’ll also need to live in a state that CuraDebt can service.

The following states are not serviceable:

  • Connecticut
  • Hawaii
  • Idaho
  • Kansas
  • Louisiana
  • Maine
  • Montana
  • New Hampshire
  • Nevada
  • Oregon
  • South Carolina
  • Tennessee
  • Utah
  • Vermont
  • West Virginia
  • Wyoming

CuraDebt’s tax-related services are not available in Pennsylvania or Puerto Rico. Although the list of states that CuraDebt cannot serve looks long, it is fairly standard within the debt settlement space. Each state has different laws about debt settlement that may limit a company like CuraDebt from being able to work in that state.

If your circumstances do fit the debt settlement program, a CuraDebt counselor will go over the timeline, risks, and fee structure with you. You can ask any questions that arise so that you completely understand the program before signing an agreement.

At this point, you’ll open a special purpose bank account and begin depositing monthly funds in accordance with the savings plan outlined for you. The money saved in this account will be used to resolve the negotiated payoffs for your debt accounts.

While you save, CuraDebt will also leverage TCPA, FDCPA, and other collector violations to save you money. Its internal negotiations processes are specifically designed to get you the best monetary rewards by looking for any potential violations. Some clients have debts dismissed or get cash rewards as a result of this step in the process.

Any remaining debts go to negotiations once you have enough saved in your special purpose account. If the creditor accepts the offer and you accept the settlement, you’ll pay the commission fee to CuraDebt and the funds will be sent to your creditor – the debt is paid. This process is repeated for each of your debts until you complete the program.

It’s important to note that there’s no guarantee that your creditors will accept the negotiations. If they don’t accept your settlement, you’ll likely have to pay the full amount of your debt, plus accrued interest and late fees. Your creditors may even choose to take legal action, which CuraDebt does not assist with. Some other debt relief companies do offer legal assistance.

Approval Time

You can enroll in a CuraDebt program quickly. Once you complete your free consultation and determine that you’re a good candidate for the program, your counselor will walk you through your savings plan and you can get started right away. This can happen in just a few hours.

The program itself takes 24 to 48 months on average. If you’re able to provide a lump sum, you can speed up the process even more. This timeline is in line with the market average.

Customer Service

CuraDebt’s customer service team is available by phone call or by email. Its hours of service are Monday through Friday, 9 a.m. – 8 p.m. EST and Saturday 10 a.m. to 3 p.m. EST. You can also email them anytime, though you will only get a response during working hours.

It does not provide customer service assistance on Sundays and there is no live chat option.

I reached out to CuraDebt to ask a few questions via email.

Customer Service

I received a prompt response, although they didn’t directly address my initial question. However, they did mention the client dashboard, so I asked a couple more questions.

Customer Service

Customer Service

I received a thorough response within an hour and a half.

Customer Service

Overall, I had a good experience with the customer service at CuraDebt. They were very quick to respond and with a little digging, very knowledgeable and informative. Naturally, they pushed to get me on the phone to get more information – but if you’re contacting CuraDebt, it probably is best to hop on the phone to make sure it’s the best fit for you.

Summary

CuraDebt provides debt settlement services for most unsecured debt, including credit cards, medical bills, personal loans, lines of credit, IRS debt, back taxes, collections and repossessions, and business debts. 

You need just $5,000 in qualifying debt to qualify for the program – much lower than the industry standard which ranges from $7,500 to $10,000.

The process starts with a free consultation with a debt expert. Once they review your financial situation with you, they’ll make an educated decision on whether or not the program is right for you. If it is, you’ll receive a customized plan with a counselor to lean on throughout the process.

CuraDebt might be right for you if you have qualifying debt and want to find a faster solution than paying off your debt with monthly payments – or if you don’t want to file for bankruptcy. However, you will see a negative impact on your credit score. It’s not right for you if you have debt from lawsuits, utility bills, mortgages, auto loans, student loans, or government loans.

FAQ

Is CuraDebt a good company?

Yes, CuraDebt is a good company. It isn’t accredited with the Better Business Bureau, but it does have a 4.97/5 star rating with them. It also maintains a “Great” rating with Trustpilot and has over 20 years in business.

How does CuraDebt work?

CuraDebt will provide you with a free consultation to determine if you’re a good fit. If you are, you’ll enter a program in which you stop paying your creditors and instead make deposits into a special account. CuraDebt will check for any violations made by your creditors to save you money. When you have enough saved, it negotiates with your creditors. If they accept, you pay the agreed amount from the special account to your creditors and a fee to CuraDebt, usually about 20%.

Does debt settlement ruin your credit?

Debt settlement does impact your credit. Most debt settlement programs require you to stop making payments and allow your accounts to become delinquent. By doing so, your credit score may be affected by up to 100 points. The debt settlement can stay on your credit history for up to 7 years, but the effects of it will lessen over time.

Ginny Dorn
Written by
Ginny Dorn

Ginny Dorn is a freelance personal finance writer. She specializes in credit card debt, personal loans, and mortgages. She graduated from Western Illinois University with a bachelor's degree in family and consumer sciences.

Pros:
  • Minimum $5,000 debt needed to qualify, lower than industry standard.
  • Free in-office consultations are available in Hollywood and Miami, Florida.
  • No upfront fees - you only pay after getting results.
Cons:
  • Not available in 16 states.
  • Doesn’t provide legal assistance if your creditors take legal action.
  • Can’t help with lawsuits, utility bills, mortgages, or secured debts.
Bottom Line

CuraDebt offers debt settlement services for unsecured debt, with some special exceptions for secured debts. Its services might be a good choice for you if you have at least $5,000 in debt, are struggling to pay it back, and want a shorter-term solution. If you need assistance with mortgages, student loans, or other types of secured debt, you’ll have to find a different solution.

Debt settlement should be a last resort, as it can negatively impact your credit score for 7 years. You can get a free consultation from CuraDebt to find out if it’s the right choice for you.