If you’ve been researching ways to pay off your debt easily, you may have come across a company called Turbo Debt. It is a debt relief company currently working in the United States. Its main aim is to help people pay off their debt while saving some money for themselves as well.
However, the promises that the company makes look too good to be true. That’s why people wonder if Turbo Debt Legit. If you also want the answer to this question, you’re in the right place. Here, I am going to discuss different factors related to this debt relief company. They will help you understand its legitimacy. Let’s start.
What is Turbo Debt?
Turbo Debt is a debt relief company that helps its customers save some money while they pay off their debt. It works just like a debt settlement. A third party negotiates with the debt collector company on your behalf in this way. The goal of the negotiation is to cut down the overall debt amount.
The company believes that its customized debt relief program is one of the best ways to avoid giving back the full debt that you owe. You can save a percentage from the debt and use it for your own benefit.
What Type of Debt Turbo Debt Deals With?
There are different types of debts the company can help you with. They are:
- Credit card debt
- Medical debt
- Student loan debt
- Veteran debt
- Divorce debt
- Business loan
- Retirement debt
- Personal loan debt
How Does Turbo Debt Work?
To understand if Turbo Debt is legit, you need to know how it works.
I have given its details below:
Consultation:
First, you go through a consultation program with this company. You explain your debt situation and how much money you plan to save. According to the company’s website, this consultation process is completely free.
The consultation helps the company experts devise a perfect strategy to pay off your debt with relief. There are different types of strategies and plans they use for it. However, it believes that the customized debt relief program is the best for many customers.
Enrollment:
If you like their plan, you enroll in the company. However, they might take all of your credit and debt information.
Negotiation:
In this step, Turbo Debt negotiates with the debt collector to help you get some relief. Remember that there is no clear information about how these negotiations are done. But I assume that both you and Turbo give the collector something in return.
For example, a client can pay a lump sum percentage of his overall debt at once. It saves a lot of time for the collector since he is getting the loan at once. In this way, the collector gives him relief (discount) on the person’s debt.
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How Much Does Turbo Debt Cost?
Turbo Debt charges a total of 25% of the total debt that you enroll in the program. I’ve noticed one positive point about the company here. It does not take this fee upfront. It takes it after you have received the relief from your debt collector.
Impact on Credit Score:
Another important thing that I would like to add here is about your credit score. Debt settlement companies such as Turbo Debt can have a negative impact on the credit score. However, many people believe that losing some score points in return for debt relief is worth it.
Is Turbo Debt Legit?
Now, let’s get to the main point. Is Turbo Debt legit? Before I answer this question, I would like to say that different people have different experiences with debt settlement companies.
If you research Turbo, you will come across two types of people. The first type will have a very good experience with the company.
Take Heather Reed’s review as an example…
I did some more research and found a lot of positive reviews of people about this company. Here’s another one:
The company also has a good overall rating of 4.9 on TrustPilot. So, I am confident enough to say that Turbo Debt is completely legit. It offers its services properly without any scams.
On the other hand, some people like Heather Reed have a great debt settlement experience. Here’s his review of the company:
So, the personal experience of a person matters as well.
Pro Tips:
To help you make a decision about it, here are my pro tips:
- Invest a little in a debt counselor. He will give you unbiased views about whether you should hire a debt settlement company or not.
- If you’re serious about your credit score, I recommend you stay away from such companies.
- Try tight budgeting so that you can pay off your debt on your own.
- Trying this company can be worth it if you have a very large debt to pay. Finding a middle ground with the collector can save you a lot of money.
Summary
“Is Turbo Debt legit?”, is the first question that pops into mind when you research this company. The same case is with a lot of people. The services that the company offers are great and they might sound even fake.
So, I have analyzed some critical factors related to the company above. It analyzes that people have different experiences with this company. So, it is wise to do your research and consult with a professional before trusting this company.
FAQs:
How long will it take for me to get a debt relief with Turbo Debt?
There is no definite answer to that question. It depends on different things like your overall debt amount and the nature of your collector.
Are there any upfront fees I have to pay?
No. According to the company’s site, there are no upfront fees related to it.
Is getting debt relief through the company guaranteed?
No. It is not guaranteed that you will get relief through this company.
