Americor Review

Americor can help cut off up to 50% of your enrolled debts. But at what cost? Read on to see if this established debt relief company is worth it.

Americor can help you pay off your debts within 24 to 48 months. It has a track record of negotiating with creditors, helping clients save significantly with their debt payments.

The catch is that Americor charges one of the most expensive fees in the industry. Plus, there's no guarantee your creditors will settle.

So, is it worth a try? You'll find out at the end of this review.

What is Americor?

Americor is an established debt relief company that offers debt settlement services. It negotiates with your creditors to lessen your debts, so you can settle them for a lower amount.

In addition, Americor offers debt consolidation loans through its partner lender Credit9. If qualified, you can borrow up to $45,000, which you can use to settle multiple debts at once.^[1]

Americor has helped over 200,000 clients settle more than $2 billion worth of debts. On average, clients who have finished their program save 45% of their debts (before fees).^[2]

Who is it best for?

Americor's debt settlement service is ideal if you have $7,500+ of unsecured debts (debts without collateral).^[3]

These could be debts from:

• Credit cards
  
• Payday loans
  
• Medical bills
  
• Private student loans
  
• Personal loans
  
• Lines of credit
  
• Personal business debt

If you want to know whether your debts qualify, you can sign up for a free debt assessment. Your debt specialist can confirm which debts are eligible.

Who should skip Americor?

Skip Americor if you owe less than $7,500 and if you only owe secured debts (debts with collateral). Americor can't negotiate for secured debts like auto loans and home loans.

Also, Americor isn't ideal if you don't want your credit score to drop. By signing up with Americor, you'll have missed payments and late payments in your credit report, which can impact your credit for up to 7 years.^[4]

Still unsure if you should skip it? Weigh the pros and cons below.

Pros and Cons

Pros

• Reduce debts, interest, and other fees
  
• Personalized program
  
• Settle debts in 24–48 months
  
• No credit requirement
  
• Pay-No-Fee Guarantee
  
• Accredited by the AADR^[5]
  
• A+ rating and accreditation from BBB^[6]
  
• iOS and Android apps available

Cons

• $7,500 minimum debt requirement
  
• For unsecured debts only
  
• Creditors may take legal action against you
  
• Can impact your credit score
  
• Creditors may not accept the settlement
  
• Unpaid debts accumulate penalties and interest
  
• Your savings from the debt may be taxable

Debt Relief Services Offered

Americor's primary service is debt settlement. But you may opt for the other debt relief services if you don't qualify.

• Debt settlement
  Experienced professionals will negotiate with your creditors to help you save 40–50% of your debt. You'll learn more about how this works in the next section.

• Debt consolidation loans
  If you want to pay off multiple debts at once, you may consider a debt consolidation loan. You can qualify and borrow up to $45,000 from Americor's partner lender, Credit9.

• Credit counseling
  Americor can refer you to credit counseling agencies if you don't reach the required minimum debt for debt settlement. Instead, credit counselors can create a debt management plan (DMP) that can help you settle debts within 3–5 years.

• Bankruptcy
  Consider bankruptcy to discharge yourself from debts or to reorganize them into a more manageable repayment plan. Just note that a bankruptcy record can stay on your credit reports for 10 years.^[7]

During your free debt assessment, Americor will discuss your debt relief options, including debt settlement, debt consolidation loans, or bankruptcy.

Here's what happens if you qualify for debt settlement.

How Americor Works

The debt settlement process can be done in 5 steps:

1. Debt specialists will create your program.
   This personalized program is based on your budget and debts.

2. Set up your dedicated account.
   Your dedicated account is where you will make your monthly deposits. You'll use the accrued funds to pay off your debts.

3. Stop paying your debts.
   You need to stop paying your debts so that Americor can negotiate with your creditors. This way, your creditors will more likely be open to negotiations.

4. Deposit your monthly payments.
   Do this while Americor negotiates with your creditors. You can get your first settlement within 3–6 months of starting your program.

5. Approve the new settlement amount.
   Once Americor reaches a settlement, you need to approve the new amount. Then, pay the debt using the accumulated deposits in your dedicated account.

   You can request Americor to renegotiate if you're not satisfied with the new amount. You can also request to pay settlements over 12 months.

If you enroll multiple debts, remember that you need to deposit payments monthly until you settle all of them. The entire program can last 24–48 months.

How Much Does Americor Charge?

Americor charges 14–29% of your total enrolled debts as settlement fees. There are no sign-up fees and cancellation fees.^[8]

In addition, Americor's fees are part of your personalized program's monthly payments. This means Americor only gets paid once you settle your debt.

Americor's Guarantee can add to your confidence regarding making these payments.

Americor's Pay-No-Fee Guarantee
"You'll pay no fees unless we lower your Total Enrolled Debt."

The Guarantee protects you in case your settlements increase due to accrued interest, fees, or penalties. It also applies if your creditor is not willing to settle. If eligible, Americor will issue a refund for collected fees within 30 days of settling your final account.^[9]

Is Americor Worth It?

Yes, Americor is worth trying if you owe a lot of unsecured debts. The more debts you have, the bigger you can potentially save as Americor can help relieve up to 50% of your debt.

Americor can create a personalized program with a lower monthly deposit than your total debt payments every month. Even if Americor charges 14–29% in fees, these fees are already part of your monthly deposits.

You may end up saving a significant portion every month while Americor negotiates with your creditors.

How To Sign Up

If you owe more than $7,500, this is how you can sign up for Americor's services:

1. Sign up and qualify for Americor on the sign-up page.
   
2. Select your estimated debt amount.
   
3. Fill out your last name, first name, phone number, and email.
   
4. Americor will send you a confirmation email.

Once you receive your confirmation email, you can schedule your free debt assessment with a certified debt specialist.

Is Americor Legitimate?

Yes, Americor is legitimate. It has been in the debt relief industry since 2009. Plus, it has relieved over $2 billion worth of debts for over 200,000 clients.

In addition, Americor has been accredited by the Better Business Bureau since 2015. It is also accredited by the American Association for Debt Resolution (AADR).

You'll find feedback from clients on several online platforms. For example, Americor has an average rating of 4.8 out of 5 stars from Trustpilot from more than 15,500 reviews.^[10]

You'll find more about these reviews in the next section.

Customer Reviews

Americor has thousands of reviews and feedback from its previous clients and prospects. Clients generally have a positive experience with their initial consultation.

What's more, some clients, like Esta, received their settlement within months of signing up.

On the other hand, not all clients are satisfied with Americor. In Donald's case, he ended up paying more fees.

Note that signing up for Americor doesn't automatically result in debt savings. Americor only provides the expertise to negotiate with creditors, which could potentially cut your debt in half.

If you have questions or issues of your own, here's how you can contact Americor.

How to Contact Americor

Americor has several customer service channels. Give them a call or send them an email.^[11]

For new client consultations:

• Phone: 888-211-2660 from 6 AM to 7 PM on Monday to Friday; 8 AM to 4 PM on Saturday and Sunday (PST)
  
• Email: info@americor.com

For client services:

• Phone: 866-333-8686 from 5 AM to 6 PM on Monday to Friday; 5 AM to 4 PM on Saturday and Sunday (PST)
  
• Email: cs@americor.com

If you want to pay a visit, Americor's office is located at 18200 Von Karman Ave, Suite 600, Irvine, California 92612.

How Americor Compares

If you aren't qualified for Americor's debt relief services, there are several options available below.

Americor vs. National Debt Relief
National Debt Relief is one of the largest debt relief companies in the industry. And compared to Americor, it may help you settle more debts since it covers more types of unsecured debts.

For example, National Debt Relief can negotiate your bank loans from your previous banks, veterinarian bills (over $500), and installment loans.

In addition, National Debt Relief's fees are 15–25% of your total enrolled debts, which can make it more affordable.^[12] Americor charges up to 29% in fees.

Imagine Living Life Without Debt

Click Here to Apply for Debt Relief

• Get a free savings estimate today
• See how quickly you can be debt free
• No upfront fees and no obligation

Americor vs. Freedom Debt Relief
Freedom Debt Relief offers the same debt relief services as Americor, but for a different price. Freedom Debt Relief charges 15-25% of your total enrolled debts as fees.^[13] This means it can be a cheaper option based on the maximum percentage.

In addition, Freedom Debt Relief is a better fit if you value extra assistance in case of lawsuits. It partners with the Legal Partner Network, comprised of lawyers who specialize in debt negotiations.

This means Freedom Debt Relief can assist you in case your creditor sues you for unpaid debts. You don't need to pay extra fees for an attorney as long as you make your monthly deposits on time.

Americor vs. Accredited Debt Relief
Like Americor, Accredited Debt Relief offers debt consolidation loans on top of debt settlement services. Similarly, Accredited Debt Relief can qualify and recommend you to its affiliates and partner lenders for such loans.

That said, Accredited Debt Relief offers a larger loan amount. You may qualify for loans up to $100,000. In comparison, Americor offers debt consolidation loans of up to $45,000 only through their partner, Credit9.

If what Americor offers isn't enough, go for Accredited Debt Relief. You can be out of debt in 24–48 months with either company.

Bottom Line

On average, Americor can help you save up to 50% of your enrolled debts and become debt-free within 2–4 years. All thanks to its debt settlement services, where professionals will negotiate with your creditors for you.

That said, the savings from your settled debts may just go to fees. So signing up for Americor doesn't automatically guarantee you'll save a lot of money.

If in doubt, keep your options open and browse other types of debt relief. You can check out debt management plans as an alternative.

References