Pacific Debt Inc. Review | US News


Pacific Debt Inc. is an accredited debt settlement company that’s settled more than $300 million in debt since 2002. The San Diego-based company offers debt settlement services nationwide.

A debt settlement service is a way to help you eliminate your debt by allowing you to pay less than what you owe. Debt settlement is not an ideal solution but can serve as a last resort for those who have exhausted all other alternatives and want to avoid bankruptcy. Pacific Debt connects you to one of its debt specialists to discuss the best way to address payday loans, credit card debt and unsecured loan debt.

  • Enroll a wide variety of unsecured debts.
  • Debts are typically resolved in 24 to 48 months.
  • Settlement fees typically range from 15% to 25% of the total debt enrolled.

  • The program does not cover collateral-based loans like car loans or home loans.
  • Debt settlement can initially lower your credit score.
  • Pacific Debt cannot guarantee how much its program will lower your debt balance.

Pacific Debt works with clients to settle most types of unsecured debt, including:

  • Credit card debt
  • Personal loan debt
  • Medical bills
  • Deficient balances on repossessed vehicles
  • Payday loans
  • Business debts
  • Some student loans

Collateral-based loans, such as car loans or home loans, are not covered by the program.

Pacific Debt does not charge an upfront fee and its service fees typically range from 15% to 25% of the total debt enrolled in its debt settlement program. Fees also vary by state. Your fee is rolled into the monthly program payment, so you will make one payment to cover everything

Pacific Debt generally approves clients who have at least $10,000 in eligible unsecured debt and are having difficulty making minimum payments. You must also live in one of the states where Pacific Debt operates in order to use its relief program.

Pacific Debt does not deposit money. The lender offers a debt settlement program by negotiating with your creditors to reduce the balance you owe, which may include waiving interest and fees. With the program, you pay one monthly payment including Pacific Debt’s fee.

There is no minimum credit score requirement for Pacific Debt. However, your credit score could take a hit after you first enroll in the program because you will stop making monthly payments to creditors while Pacific Debt negotiates a settlement. Making regular monthly payments via Pacific Debt will help bring your score back up.

Pacific Debt has an A+ rating with the Better Business Bureau and is accredited by the American Fair Credit Council and the International Association of Professional Debt Arbitrators.

The enrollment process begins with a phone consultation with a certified debt specialist who will ask you more about your financial situation and determine if the debt settlement program is right for you. Then, a debt counselor will email you a secured enrollment packet so you can complete the paperwork. From there, your application is submitted to servicing for approval.

The company has certified debt specialists on staff who help you create a plan to eliminate debt by settling with creditors. You don’t have to negotiate with lenders Pacific Debt – handles these conversations on your behalf.

  • People who have at least $10,000 in unsecured debt
  • People who are struggling to pay monthly loan bills
  • People who wants to work with a debt specialist to reduce outstanding debt balances
  • People who are more concerned about getting rid of debt than improving their credit scores

Q: How does Pacific Debt work?

A: After you call Pacific Debt, you’ll be connected with a debt specialist who will provide a free phone consultation to learn more about your financial situation. Then, Pacific Debt will determine if you qualify for its programs, and if so which one is the best fit to help you settle and eliminate debt.

Pacific Debt works to eliminate your debt in 2 to 4 years, depending on your circumstances. Pacific Debt has negotiators on staff who work with you and your creditors to minimize the amount you have to pay.

Pacific Debt does not consolidate loans, which means rolling outstanding loans into one new loan with a lower interest rate. Instead, Pacific Debt helps settle debt by working with creditors to reduce fees, interest and other expenses so your balance is lower.

You’ll have one monthly payment based on your budget, which will include the fee Pacific Debt charges for its services.

Q: Is Pacific Debt Legit?

A: Pacific Debt has an A+ rating with the Better Business Bureau, earning 4.8 out of 5 stars. TrustPilot gives Pacific Debt 4.7 out of 5 stars. The company says it has settled more than $300 million in debt since 2002.

Q: How do you get approved for Pacific Debt?

A: You should have more than $10,000 in unsecured debt. Pacific Debt is best for consumers who are having trouble making minimum payments and are concerned about reducing the amount they have to pay. Approval begins with a phone call to Pacific Debt for a free consultation. Then, you will receive an emailed packet to complete, which is processed by the customer service department for approval. Pacific Debt is not for consumers who can manage monthly loan payments and have good to excellent credit.


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