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National DR In-Depth Review

In a nutshell: Recognized as one of the top debt consolidation services, National DR has an excellent track record of helping its customers live a debt-free life.

National DR In-Depth Review

In a nutshell: Recognized as one of the top debt consolidation services, National DR has an excellent track record of helping its customers live a debt-free life.

National DR In-Depth Review

In a nutshell: Recognized as one of the top debt consolidation services, National DR has an excellent track record of helping its customers live a debt-free life.

Overview

Recognized as one of the top debt consolidation services, National DR has an excellent track record of working with clients to customize debt settlement solutions. Despite only being around since 2009, it has already helped more than 400,000 families and individuals resolve their debt.

Application Process

National DR makes it extremely easy to begin the process of consolidating debt. Its simple application form only asks you for your debt amount and basic contact details including your name, email, and phone number. After submitting these details, a certified debt coach will be in touch with you to guide you through the next steps of the process. After receiving a quote, you can choose to accept the plan provided or take your time to think it over.

Debt Services

National DR makes its services available to a wide range of clients. To qualify for its program, you need a minimum debt of $10,000 and to be located in one of the 46 states it covers.

Typical fees run between 18% to 25% of enrolled debt and customers can usually resolve their debt in 24-48 months. On average, National DR claims to save clients approximately 46% before fees, or 25% including fees, though actual saving numbers vary greatly from case to case.

Types of Debt Covered

Though the lender doesn't cover all kinds of debt, National DR has a comprehensive list of the types of debt it covers. This includes, but isn't limited to credit card debt, personal debt, line of credit, collections, repossessions, business debts, medical bills, and more. The lender may also be able to assist with private student loan debt.

Customer Support

In addition to their helpful debt articles and calculators, National DR makes it easy to get in touch with a company representative. Its phone hours are Monday to Friday from 8:00 am - Midnight EST, Saturday from 10:00 am - 10:00 pm EST, and Sunday from 10:00 am – 9:00 pm EST. It also offers a general email for contacting the company with any questions or concerns you may have.

Pros

No upfront fees and no obligation
Get rid of debt in 24-48 months
Free savings estimate

Cons

Fees can run as high
No mobile app

Our Top 3 Picks

Freedom

National DR

JG Wentworth

Application process

9.0

The documentation requirements are reasonable, and the process is relatively easy and can be completed online

Customer support

9.0

Phone and online support Monday through Friday from 10:00 AM to 8:00 PM EST, very responsive

Eligibility criteria

9.0

Flexible eligibility requirements, accepts broad range of debts, available in all states except Oregon, Vermont and West Virginia

Customer rewards

8.0

Active clients can participate in sweepstakes promotions

Financial tools and resources

9.0

Offers some access to legal assistance, financial calculators and educational resources.

FAQs About Debt Consolidation Loans

Looking to improve your financial well-being and consolidate your debt? In addition to comparing the top debt consolidation loan lenders, we've compiled some of the most commonly asked questions about debt consolidation loans.

What is a Debt Consolidation Loan?

Debt consolidation loans refer to a financial tool that allows borrowers to combine multiple high-interest debts into a single loan with a fixed interest rate and a structured repayment term. This can help simplify repayment, provide a more predictable monthly payment, and offer a clearer path to managing debt.
Some borrowers may qualify for a lower interest rate, which could reduce overall costs and help them pay off their debt faster. However, approval, interest rates, and loan terms vary based on factors such as credit history, income, and lender requirements.

How Do Debt Consolidation Loans Work?

Those looking to consolidate debt typically take out a debt consolidation loan, which is a fixed-rate personal loan used to pay off multiple debts. The loan provides a lump sum, which is then used to pay off existing balances, leaving the borrower with a single monthly payment. The repayment schedule is structured over a set term, making payments more predictable.

Does a Debt Consolidation Loan Affect Credit?

A debt consolidation loan can impact credit in different ways. Making timely payments can help improve credit by demonstrating responsible repayment behavior and reducing overall credit utilization.
However, credit scores may initially dip due to the hard credit inquiry required when applying for the loan. Additionally, failing to make payments on time or accumulating new debt after consolidating could negatively impact credit.

What is the Best Debt Consolidation Loan Option?

The best debt consolidation loan for you will depend on several factors, including:

• The amount of debt you need to consolidate
• Your credit history and financial profile
• Loan terms, interest rates, and fees offered by different lenders

Borrowers should carefully compare lenders, interest rates, fees, and repayment terms before choosing a loan. Our comparison chart and ender reviews mayhelp you find a debt consolidation loan that fits your financial situation.

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