Pacific Debt

The Good

• Competitive pricing
• Professionalism & customer service
• Low minimum debt

Professionalism & customer service

Pacific Debt assigns a CSR (Customer Service Representative) to every customer they have.  The CSR acts somewhat like a credit counselor, taking the time to understand your entire situation and what you might be able to pay.  It’s important to note that they are still a salesperson, so know that they ultimately want you to use Pacific Debt.  But if that’s the way you are headed anyway, our independent research showed that the customer reviews for Pacific Debt were overwhelmingly positive.

The reason for the customer reviews appears to be their CSR system.  By knowing that you can talk or email a real person – and the same person – communication flows much more efficiently and the process is inherently less stressful.

Competitive Pricing

Pacific Debt charges 15-25% of the debt you owe.  Meaning, if you owed $10,000 and they were able to get this negotiated down to $6,000, they would keep $1,500 – $2,500 in payments for their services.  So you will owe a total of $7,500 – $8,500, either of which is better than owing $10,000.  The industry average is 21-25%, so they have a slight edge here.

Lower Minimum Debt allowed

Most debt settlement companies require a minimum of $10,000 in debt.  This is because, by law, debt settlement companies cannot charge money upfront without offering any services in return.  The money they make depends mainly on them successfully negotiating your debt, because they then get a percentage.  The larger your debt amount, the larger this percentage.  Pacific Debt will work with consumers who have as little as $5,000 in debt.

The Bad

• Only services 29 states

At the time of this writing, Pacific Debt does not service the following states: CO, CT, DE, GA, IL, KS, LA, ME, MS, NV, NH, NJ, ND, OH, OR, RI, SC, TN, VT, WA, WV, WY.

If you reside in one of these states, you’ll want to contact one of our other highly rated debt settlement companies.

The Summary

Pacific Debt provides a very high level of service at a fair price given the other options.  Their industry accreditations show that they are taking efforts to comply with consumer protection demands, and their track record of success in settling debt is as solid as it gets.  Finally, they offer their services with a money-back guarantee.  These factors combined lead us to recommend Pacific Debt for consumers specifically looking for debt settlement.