Impact Debt Review [2024] Is Impact Debt Legit?

According to the Federal Reserve Bank of New York, household consumer debt was at $17.69 trillion for the first quarter of 2024. Plus, millions in debt have gone into delinquency status.

Whether you’re struggling with debt payments or scared you’ll continue to fall behind, you have options. You can consider debt settlement companies like Impact Debt Relief that help you negotiate with your creditors. 

Before you sign up for any debt relief service, you’ll want to do your research. In this Impact Debt review, we’ll help you decide if this company could be the right choice for you. 

What Is Impact Debt? 

Impact Debt Relief  is a type of debt settlement company. Impact Debt works with you and negotiates on your behalf with your lenders or creditors to try and lower the amount of debt you owe. The goal is to help you get some relief with your debt payments by trying to lessen the amount you need to pay back. 

Is Impact Debt Legit? 

If you’re wondering “Is Impact Debt legit?” the answer is yes. It may not offer as much information online compared to other debt relief websites, but it is a legitimate debt relief company. 

Impact Debt claims to offer personalized service and says the fees will reflect the type of work the company needs to help you with. There aren’t a lot of reviews online, but you can get a free consultation and ask as many questions as you need to to ensure that you can trust their services in your unique situation.  

Is Impact Debt Worth It? 

Impact Debt Relief is best suited for those who have tried other options to manage their debt, like debt consolidation options. If you want to look into debt consolidation, read our guide on the best debt consolidation loans. Or, if you have a low credit score, consider reading our guide on how to access debt consolidation loans for bad credit. 

Impact Debt Relief is also best for those who are already behind on their debt, since lenders tend to be more willing to work with borrowers who they don’t believe will pay back their debt obligations. In other words, lenders are more likely to negotiate with you (or someone negotiating on your behalf) if they believe you won’t be able to pay back what you owe otherwise. 

It’s also best for those who don’t want to deal with their creditors themselves and would prefer to work with a professional in the negotiation process. Having professional assistance can help you get back on track and even boost your credit score, if that’s one of your goals. 

How Does Impact Debt Work?

Impact Debt Relief works by looking at your personal financial and debt situation and coming up with a solution. 

To help them do that, you’ll fill out a short online questionnaire, answering questions such as how much debt you have and where you’re located. Then, you’ll speak with a representative for a free consultation, and they’ll take the time to understand why you want to settle your debts and any other solutions you’re looking for. 

If you want to work with the company, they’ll then work to create a debt payoff or settlement strategy that works for your situation and other options that you may prefer. Then Impact Debt will work to negotiate debts on your behalf or connect you with different debt relief programs that can better help you.

What Is The Catch With Impact Debt?

When conducting research for this Impact Debt review, we found that it was hard to gauge what the prices were for their services or how long the debt settlement process would take. That’s because the company says it’ll work with customers on a customized plan. Even though it says the debt settlement process will be done within 24 to 48 months, you won’t know your exact timeline until the company puts together a plan for you. 

Is Impact Debt Safe?

Impact Debt Relief is a legitimate company that is safe to use. Of course, you’ll have to gauge whether their recommendations are best suited for you, as well as any of the debt relief services they recommend. The company also follows a privacy policy and protects your personal information. 

Now that you know the answer to “Is Impact Debt legit?” you can hopefully get started on your debt payoff journey.  Ready to work toward other goals? Read our guide on investing for beginners. 

Impact Debt Pros and Cons

What we hope you take away from this Impact Debt review is that it’s not a one-size-fits-all company. Instead, you’re better off looking at the benefits and downsides of Impact Debt Relief to decide whether it’s right for you.

Pros 

• Free consultation: Impact Debt Relief offers you a free consultation to check your debt situation and see what it may be able to help you with. That way you’re not obligated to work with them if you find that they’re not what you’re looking for. 
• Custom plans: You can work with someone at Impact Debt Relief on a plan tailored to help you settle your debt and reach any financial goals you may have. 

Cons

• Unclear pricing structure: You won’t be able to see how much Impact Debt Relief’s services will cost on their website. You’ll probably have to speak with a customer representative to get a detailed breakdown specific to your situation.   
• Unclear debt settlement timeline: Although Impact Debt Relief says most of their clients finish the debt settlement process within 24 to 48 months, you won’t get a clear timeline until you communicate with the company. 

Impact Debt Reviews

In our research looking for anyone who may have written an Impact Debt review, we found that there wasn’t much online. As such, we highly recommend that you do your own research and speak with representatives yourself at Impact Debt Relief before making a decision. Don’t forget to compare alternatives and other competitors to see whether another company may be a better fit.

To help you find a solution that works best for you, consider continuing your research by looking at our list of the best credit repair companies or the best tradeline companies.

Commonly Asked Questions About Impact Debt 

Impact Debt Competitors / Alternatives To Impact Debt / Similar To Impact Debt? 

Some alternatives to Impact Debt Relief include:

• National Debt Relief
• Freedom Debt Relief
• Accredited Debt Relief

Is Impact Debt a Scam? 

Is Impact Debt Legit? Yes, and it’s not a scam. Impact Debt Relief is a legitimate debt relief company and offers a free consultation to help you determine whether their services will be the right fit for you.  

Who Is Eligible For Impact Debt Relief? 

Most consumers who are behind on their debt and may have missed a number of payments are most likely eligible for Impact Debt Relief’s services. Secured debts like home mortgages and auto loans are not typically eligible for debt settlement. 

This Impact Debt review should help you learn more about the service and whether it’s for you. 

How Much Does Impact Debt Relief Cost? 

Impact Debt Relief’s pricing structure will depend on what services you need and the amount of debt you want to have settled. You won’t be able to find it on their website, so you’ll need to contact Impact Debt Relief and go through a free consultation to find out how much you may need to pay. 

Does Impact Debt Relief Hurt Your Credit?

Using debt settlement companies like Impact Debt Relief may temporarily lower your credit score, since you’re not making payments for a little while and because the lender settles for less than what you owe. However, you can eventually rebuild your credit. Check out our Cheese Credit Builder review and Cleo Credit Builder Card review to learn more.