Americor Debt Relief: Great Customer Satisfaction but Above-Average Fees

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Debt Relief

Americor is a legitimate, accredited debt relief company that helps individuals consolidate or settle their debts.

• No setup fees
• High customer satisfaction ratings
• Fees only collected after you agree to settlement
• Debt consolidation loan available

• Not available in Colorado, Oregon, or West Virginia
• Potential for fees above industry average

Min. debt required	$7,500
Settlement fee	14% – 29%
Potential savings	Up to 50% of enrolled debt (minus fees)
Timeline	24 – 48 months (average 35 months)

Table of Contents

1. What does Americor debt relief do?
   1. Debt consolidation loans
   2. Debt resolution services
   3. What kinds of debt does Americor negotiate?
   4. How much does Americor debt settlement cost?
   5. How much money can Americor save me through debt settlement?
2. How Americor works
3. Is Americor debt relief legit?
4. Alternatives to Americor

What does Americor debt relief do?

Americor is a debt relief provider aimed at helping individuals become debt-free within a matter of years. Americor’s services are designed for people who are truly out of options and are burdened by insurmountable levels of debt.

Every interaction with Americor starts with a free consultation with a certified debt specialist to discuss your specific scenario. Then, the debt specialist will put together a detailed debt management plan, which could involve a debt consolidation loan or debt negotiation and settlement. In some cases, it may make more sense to consider an alternative, such as bankruptcy.

Debt consolidation loans

Americor offers debt consolidation loans through Credit9 to get you one manageable monthly payment, ideally at a lower interest rate. If you go this route, you’ll pay all of what you owe, but you can salvage your credit score, as long as you keep up with payments. Not everyone will qualify.

Debt resolution services

Americor also offers debt resolution services, which includes working with your creditors to settle your debt for less than what you owe. During this time, you won’t make payments on your debt (late fees and interest will accumulate, and your credit score will suffer).

Instead, you’ll make a monthly payment into a savings account; when your debt is settled for less than what you owe, Americor will use that money to pay each creditor.

There’s a lot of nuance to how debt settlement programs work. Before moving forward with Americor, or any debt settlement company, review our debt relief guide to understand what you’re signing up for.

What kinds of debt does Americor negotiate?

Americor can help you negotiate a few different types of unsecured debts, specifically:

• Credit card debt
• Personal loan debt
• Medical bills
• Line-of-credit debt
• Private student loan debt
• Auto loan repossessions
• Cellular debt

Like other leading debt relief companies, Americor does not assist with tax debt (consider these best tax relief companies instead) or federal student loan debt.

How much does Americor debt settlement cost?

Americor charges a fee between 14% and 29% of your enrolled debt, but only once your debt negotiation team has secured a favorable settlement offer to which you agree. You’ll pay that fee as part of the monthly deposit you make into the savings account opened through Americor.

A few things worth noting here:

• Unlike other top debt relief companies, such as National Debt Relief and Freedom Debt Relief, Americor does not charge any setup or membership fees.
• Other leading debt relief providers, such as National Debt Relief and Accredited Debt Relief, cap their fees at 25% of enrolled debt. Americor’s can go as high as 29%.
• Americor does not charge cancellation fees if you choose to end the program.

How much money can Americor save me through debt settlement?

Americor advertises that it can negotiate your enrolled debt down by as much as 50%. For instance, if your enrolled debt is $15,000, Americor could theoretically negotiate it down to $7,500.

There are some caveats to this:

• Nothing is guaranteed. Americor may reach a settlement, but it could be for a dramatically smaller decrease that what you hoped for. The good news: You don’t have to accept a settlement if you don’t like it. The bad news: Americor may not be able to secure anything better. In fact, Americor may be entirely unsuccessful in reaching any level of settlement for some of your debts.
• You won’t get all those savings: While Americor advertises settling your debts by as much as 50%, you won’t actually save 50%. You have to pay Americor a percentage of your enrolled debt, up to 29%.

How Americor works

If you choose to get a free consultation with Americor, a dedicated debt specialist will walk you through the program, but here’s the process in a nutshell:

1. Schedule and complete a free consultation. This will help the debt specialist make the right recommendation.
2. Determine the right path forward: If you qualify for a debt consolidation loan, you can get one through Credit 9. The goal is to simplify your debts into one manageable monthly payment. But if you don’t qualify, the debt consultant will recommend a debt settlement program.
3. Follow the guidelines: Once you enter the program, stop making payments to your creditors, and instead make a monthly deposit to a savings account. Americor will negotiate with your creditors to secure a lower pay-off amount.
4. Review each settlement offer: Carefully consider every settlement offer Americor gets you. If you agree to the reduced amount, Americor will pay off the creditor with the funds from the savings account you’ve been paying into. You’ll also have to pay Americor a fee via your monthly deposits.
5. Keep up with the program: Over several years, Americor will earn you settlements, and you’ll make payments until you’re debt free. Americor advertises a 24- to 48-month timeline to resolve your debts.

Is Americor debt relief legit?

Platform	Rating	Number of reviews
BBB	4.73/5	5,349
Trustpilot	4.7/5	15,891

Americor is a legitimate debt relief company that is accredited by the Better Business Bureau (BBB) and the American Association for Debt Resolution (AADR). The company has helped more than 400,000 individuals and families to relieve more than $3 billion in debt. Americor currently has an A+ rating with the BBB and 4.7 out of 5 stars on Trustpilot, based on nearly 16,000 reviews.

Alternatives to Americor

Our team has analyzed and reviewed several well-known debt relief companies to determine which offer the best features and lowest fees. Among our list of the best debt relief companies are National Debt Relief, Freedom Debt Relief, and Accredited Debt Relief.

Recap of our Americor review

Company/product	What to know
Americor debt relief	High customer satisfaction scores