Services

There are many approaches to reducing debt, but NDR relies on debt solutions. The company offers the NDR Program, where the expert team of debt resolution experts work with your creditors to make a new arrangement that meets everyone’s needs.

NDR offers an initial consultation free of charge, then analyses your financial situation to determine the best route of action. Depending on your situation and on the state you live in, they can even point you towards more adequate solutions for your circumstance.

The company usually charges a fee of 18% to 25% of the amount you’re trying to pay off, but you won’t pay a cent before the debt is resolved. What’s more, National DR affirms that it can save you up to 30% after fees if you complete the program and.

Terms & Requirements

To take part in the National DR program, you must owe a minimum of $7,500 and be behind on your payments. You also have to be going through a difficult financial situation, such as a divorce that’s had a negative impact on your income or a recent job loss. This acts as a key tool during the consulting as it proves that you are unable to pay back the money.

There are also some types of debt that NDR can’t help you with, for example, mortgage loans and auto loans. You can find out if your loan qualifies by visiting the website’s Qualifications page.

As far as creditworthiness goes, your score won’t have any influence on your chances of qualifying for the program. NDR does, however, require that you have some cash available to start the consulting, as you’ll see in the section below. The more money you owe, the more money you need upfront.

How to Apply

You can apply for the National DR program directly on their website’s application page. Fill out the form to get a free quote and savings estimate, then quickly find out if you’re eligible for the program. NDR may carry out a soft credit pull to understand your financial status and provide the best solution for your specific situation. A soft credit pull won’t harm your credit.

If National DR decides that you would be better served by another type of debt service, their team will suggest relevant alternatives and point you in the right direction.

The process after the first call is simple. You will have to start depositing money into an escrow account controlled by you. The amount will depend on how much you owe to your creditors, but also on your income and basic expenses. This money will be used to pay back your loans.

The Consulting Process

Once you have enough money, NDR will contact your creditors with proof of your financial hardship to propose a new deal on your behalf. NDR takes a lump sum approach: They will ask to lower the overall debt amount while offering to pay the whole sum immediately. If your creditors accept the deal, you’ll be asked to release the money from your escrow account and you’ll be free from your debt burden.

If you haven’t saved up enough money in your escrow account to pay off your debt in one go, NDR will offer a payment program. Instead of paying several debts off, you will be able to consolidate your debts by making one monthly payment to National DR.

If your creditors don’t accept the terms, the team will continue the consulting until they accept or until it becomes clear that they will never accept the deal.

The Risks

While enrolled in the National DR program, you’ll stop paying back your creditors. When you do this, you’ll start accruing interest and late fees – plus, you’ll be harming your credit. But when you pay off your debt, your score will rise again. In fact, NDR claims that many of their clients’ scores return to the same rate or higher.

Nonetheless, there are other risks involved in resolving debt. Your creditors might not appreciate your attempt to pay back less than you ower and may call you. In some cases, creditors may even sue. However, NDR claims that creditors often try to avoid lawsuits.

You can find more information on NDR’s Top FAQs section.

Privacy & Security

National DR is transparent about the data it collects from you. Their privacy policy page, which applies solely to consumer information, outlines exactly what type of data NDR collects and why.

If their privacy policy doesn’t answer your concerns, you can also contact their third-party dispute resolution provider for free on the website.

Help & Support

National DR has a Better Business Bureau rating of A+, which means the BBB has ascertained that NDR is trustworthy and keen to help customers with their concerns.

Speak to their experts toll free at 800-300-9550

(Times in EST)

Monday to Friday – 8:00 AM until 00:00 AM

Saturday – 10:00 AM until 10:00 PM

You can contact NDR by post:

180 Maiden Lane, 30th Floor

New York, NY 10038

USA

Summary

National DR has helped many borrowers who were behind on their payments with no easy way out. If you’re struggling to keep up with your monthly payments and feel ready to rely on debt experts, the NDR program can be a legitimate alternative. Even so, debt solutions introduce more risks than other options and should be considered as a last resort.