Florida Debt Relief

Living in Florida can be expensive, especially if you're living with debts. The following debt relief companies may help you out.

Living expenses in Florida can be pricey, especially if you have debts to pay. You may need help paying off your personal loans, credit cards, medical bills, etc.

What if you're already living paycheck to paycheck? And you just want to get out of survival mode?

When it feels too suffocating to be buried in all these debts, you can check out debt relief companies in Florida. There are different solutions that may be suitable for your needs.

Imagine Living Life Without Debt

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

Apply for Debt Relief

Read Review

Does Florida Have a Debt Relief Program?

Florida does not have a debt relief program. But there are reputable and licensed companies that offer debt relief in the state. The best companies can negotiate up to half off your original debts.

Here's how it works:

1. Attend a free consultation to discuss your options.
   
2. Enroll in a customized program by your debt relief company.
   
3. Set up a dedicated account where you will make your monthly deposits for debt payments.
   
4. Your debt relief company negotiates and corresponds with your creditors for a lower debt amount.
   
5. Once a settlement is reached, use the accumulated amount in your account to pay off the new debt amount you approve of.

Here are your best options in Florida to get started.

Top Florida Debt Relief Companies

Be sure to note the company's minimum debt requirements, fees, and program length to find a suitable option for your needs.

National Debt Relief: Best Overall

Minimum debt to apply: $7,500^[1]
Fee: 15–25% of your enrolled debt^[2]
Program Length: 24–48 months^[3]

National Debt Relief is one of the most reputable debt relief companies. It's been in the industry since 2009 and primarily offers debt settlement and debt consolidation options.

It has established relationships with more than 10,000 creditors. And it has helped over 550,000 clients relieve their debts.^[4]

On average, clients who finish their program realize up to 46% of savings from debts (25% including National Debt Relief's fees).^[5]

National Debt Relief also has a wide network of partners for other options, such as debt consolidation loans and credit counseling agencies. The company can refer you to its partners if they have more suitable options for your debts.

Supported Debts:
National Debt Relief has a comprehensive list of its supported unsecured debts:^[6]

• Major credit cards
  
• Department store cards
  
• Unsecured personal loans
  
• Certain student debts
  
• Medical bills
  
• Business debts
  
• Gas cards
  
• Bank loans from prior banks
  
• Installment loans
  
• Finance companies
  
• Repossessions
  
• Qualified business debts
  
• Cell phones (not currently used)
  
• Veterinarian bills over $500
  
• Credit unions (members who are not federal or military employees)
  
• Abandoned timeshares with current statements
  
• Judgments older than 6 months
  
• Back rent (not a current resident)
  
• Bank, overdraft, and associated fees

Pros + Cons:

Imagine Living Life Without Debt

Find Out More

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

If you're worried about lawsuits due to unpaid debts, Freedom Debt Relief may be a better option.

Freedom Debt Relief: for Legal Support

Minimum debt to apply: $7,500^[7]
Fee: 15–25% of your enrolled debt^[8]
Program Length: 24–48 months^[9]

Freedom Debt Relief has been in the industry since 2002. It has resolved over $15 billion in debts for over 850,000 clients.^[10]

The company's edge is its partnership with the Legal Partner Network. You get to have access to experienced attorneys who can further negotiate with your creditors who sue you.

Freedom Debt Relief doesn't charge fees unless you approve new settlement offers. But you do need to pay a one-time set-up fee of $9.95 to open your dedicated account. There's a (required) account service fee of $9.95/mo as well.^[11]

Freedom Debt Relief also offers a Program Guarantee. You can request (once you graduate) a refund if your settlements and fees are greater than what you originally enrolled.

Supported Debts:
Freedom Debt Relief typically qualifies unsecured debts, such as:

• Credit card debt
  
• Personal loan
  
• Department store cards
  
• Medical debts
  
• Selected business debts (case-by-case basis)

Freedom Debt Relief offers a free consultation to discuss your debt relief options. You can use this session to consult about the various types of debts you owe.

Pros + Cons:

If experience in the industry is your main priority, then this next option may be your best bet.

J.G. Wentworth: Most Experienced Company

Minimum debt to apply: $10,000^[12]
Fee: 18–25% of your enrolled debts^[12]
Program Length: 24–48 months^[13]

J.G. Wentworth is the oldest debt relief company on the list. It was founded in 1991 and has built relationships with some major creditors in the U.S.

J.G. Wentworth has been accredited by the Better Business Bureau since 1996. On average, clients of J.G. Wentworth save 51% on their debt (not including fees).^[12]

Note that there's a higher minimum debt requirement to become eligible for a program. Plus, you may pay more fees for J.G. Wentworth's service than other companies.

Supported Debts:
You can only enroll unsecured debts like your credit card debt or store card balances. It's best to clarify what specific debt types you can enroll during your consultation.

Pros + Cons:

Concerned about the time it takes to relieve your debts? Check out Americor. It has one of the shortest program duration on this list.

Americor: Shortest Debt Relief Program

Minimum debt to apply: $7,500^[14]
Fee: 14–29% of your enrolled debts^[15]
Program Length: 20–48 months^[16]

Americor is a debt relief company that has been in the industry since 2009. It has relieved over $2 billion in debts for over 200,000 clients.^[17] And it offers both debt settlement and debt consolidation services.

The company offers the shortest debt relief programs, lasting 20–48 months. You can even get your first settlement in 4–7 months. You just need to save a minimum of 25% for each enrolled debt before an offer becomes available.^[18]

Clients who finish their program save an average of 45% (before fees).^[15] If you're qualified, Americor may also offer you a debt consolidation loan, where you can borrow up to $45,000 to pay off multiple debts.^[19]

Supported Debts:
You can enroll unsecured debts, such as:

• Credit cards
  
• Personal loans
  
• Lines of credit
  
• Medical bills
  
• Business debts
  
• Certain student loans

Pros + Cons:

When relieving debts, you can choose to focus on debt consolidation options. Accredited Debt Relief can help with that.

Accredited Debt Relief: Debt Consolidation

Minimum debt to apply: $10,000
Fee: 15–25% of your enrolled debt
Program Length: 24–48 months

Accredited Debt Relief has offered debt relief services for over 12 years. It has also resolved $3 billion in debts for 300,000 clients.^[20]

You can save as much as 55% off your total enrolled debts once you complete your program.

Also, Accredited Debt Relief has affiliates who can offer you debt consolidation loans if you want to settle multiple debts at once. That way, you can focus on one payment and eliminate high-interest debts and fees for individual debts.

You can even slowly improve your credit with timely payments for your debt consolidation loan.

Supported Debts:
It can help you settle the following debts:

• Credit Card Debt
  
• Personal Loan Debt
  
• Department Store Credit Debt
  
• Medical Debt

Pros + Cons:

Now that you know your options, here's how these companies generally work.

How Does Debt Relief Work?

You need to stop making your monthly payments for all enrolled debts. This way, your creditors are more inclined to settlements during debt negotiations. After each negotiation, you get to approve the reduced debt amount.

You can pay your debts off in a lump sum if the creditor prefers. But if you negotiated for extended terms, then you will pay a lower amount monthly, depending on the new agreement.

If you can't afford the negotiated debt, you can talk to your debt relief company. Your company may renegotiate so you can get the lowest settlement possible.

Also, note that most debt relief companies don't charge you fees unless you approve and settle your debts.

Florida Debt Relief Laws

Florida imposes all laws regarding debt relief services, which include:

• Telemarketing Sales Rules (TSR)
  TSR protects consumers against deceptive practices. Debt relief companies cannot charge upfront fees or overpromise their offers.

• Florida Consumer Collection Practices Act (FCCPA)
  FCCPA is a supplement to the Fair Debt Collection Practices Act (FDCPA). This requires your original creditors to follow the rules concerning debt collection.

  Your original creditors cannot do unlawful practices to try to intimidate you into paying your debts. These unlawful practices include, but are not limited to, the use of threat and violence, attempts to enforce debts that are not legitimate, or use profane language.^[21]

Florida Statute Of Limitations On Debts

Florida's Statute of Limitations (SOL) for debts is typically 5 years. Your creditors have 5 years to take legal action against you for your unpaid debts.^[22]

The countdown starts from the date of your last payment, which is also known as the date of delinquency. But be warned: there are many ways your creditors can revive the SOL.

For example, if you start to settle your debts with a debt relief company, creditors can revive your SOL.

Here are further explanations about the debt relief services you may encounter.

Different Types of Debt Relief

Debt relief services help reduce your debts so you can afford to pay them off. These services include:

• Debt settlement
  Debt relief companies will negotiate with your creditors to reduce the amount you owe. They can also negotiate for extended terms and waived fees to help you relieve debts.

• Debt consolidation
  Debt consolidation means combining all your debts into one big loan. This way, you can focus on one monthly payment, avoid high-interest debts, and simplify debt management.

• Debt Management Plan
  A debt management plan (DMP) involves restructuring and strategizing the best ways to tackle debts. For example, you can consult with a credit counseling agency to create a DMP that settles all your credit card debts within 3–5 years.

• Credit counseling
  Credit counseling covers more aspects of finance apart from debts, such as credit and budgeting. Credit counselors can refer you to the best debt relief services in Florida, including debt consolidation loans you qualify for.

• Bankruptcy
  Bankruptcy is a legal process that helps you discharge or restructure your debts. It can be a complex and lengthy procedure. It's better to consult with bankruptcy attorneys to help you out.

What debts qualify for debt relief?

Most debt relief companies only qualify unsecured debts, like:

• Credit card debts
  
• Lines of credit
  
• Medical bills
  
• Personal loans
  
• Department store cards
  
• Reposessions
  
• Collection accounts
  
• Selected student loans

You can't enroll debts that are tied to collateral or an asset (like home loans and auto loans) to most debt relief companies.

The best way to know if your debts are qualified for a debt relief program is to ask your prospective company. Most debt relief companies offer free consultations so you can discuss your options.

How To Choose A Debt Relief Company

Consider the following when choosing a debt relief company:

• Debt relief services
  Not all debt relief companies offer the same services. Debt settlements vastly differ from debt consolidation loans.

  During your consultation, discuss your program so you can manage your expectations.

  Is there really a government debt relief program?
  The government doesn't have a debt relief program that can help you directly settle your debts. Instead, it enforces laws and regulations to protect consumer rights. Avoid companies or professionals that claim to offer some new government debt relief program to bail you out of debt. It's most likely not legitimate.

• Fee structure and charges
  Most companies charge a percentage of your enrolled debts as your service fees.

  But also look out for cancellation charges, loan interest, and penalties, or account fees for your escrow account. Debt relief companies can't charge you upfront fees.

• Repayment timelines
  You can ask your debt relief company to negotiate for extended repayment terms, especially if you need more time to pay back what you owe.

  Note that not all creditors will agree to a monthly payment. They may prefer getting your remaining debt in a lump sum.

• Minimum or maximum debt amount
  Debt relief companies have a minimum and maximum debt requirement before you can enroll in a program. Minimums typically range from $7,500–$10,000.

• Locations
  Ensure that the company you select offers services in Florida. Not all companies are registered to offer debt relief services in all states since each state has its own governing agencies and laws for debt relief.

• Transparency
  Debt relief companies are highly regulated because of rampant unethical practices in the industry. Focus on companies that showcase transparency by providing legal regulatory details and practicing licenses.

• Certifications and accreditations
  The debt relief industry has several organizations and agencies to help standardize and regulate debt relief practices. Accredited companies can help build your confidence about the reputations of listed debt relief companies.

  The most popular organizations are the International Association of Professional Debt Arbitrators (IAPDA) and the American Association for Debt Resolution (AADR).

Methodology

We picked the 5 debt relief companies according to the following aspects:

• Experience
  All companies have more than a decade of experience in the industry. They also have a strong track record, resolving and settling billions worth of debts for hundreds of thousands of clients.

• Reviews and ratings
  We chose companies with significant reviews online. You can find thousands of client reviews and ratings in platforms such as the Better Busines Bureau, ConsumerAffairs, and Trustpilot. This way, we dig deeper into actual experiences of clients who signed up.

• AADR accreditation
  The American Association for Debt Resolution holds its member companies to the highest degree of standards and ethical practices for debt relief. All companies on this list are members of the AADR.

  The AADR conducts a robust audit for its members every two years. AADR-accredited companies are assessed regularly for compliance with AADR standards.

• IAPDA accreditation
  The International Association of Professional Debt Arbitrators (IAPDA) is an organization that provides training, certifications, and accreditations to debt relief companies and professionals.

  We've selected companies that are accredited by the IAPDA. Meaning these companies have validations for federal and state compliance.

  Plus, these companies have professionals who have certified industry training for sales, customer service, and debt negotiation.

Bottom Line

It's never too late to turn your financial life around and start dealing with your debts.

If you live in Florida, the best debt relief companies on this list may be able to help you out.

Imagine Living Life Without Debt

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

Apply for Debt Relief

Read Review

Just make sure to select a service that fits your needs. And that your program is something you can commit to in the long run.

References