Irvine, California-based Americor is one of America’s largest debt settlement companies. It’s been in business for 14 years, during which it settled over a cool $2 billion in debt.

According to their website, their focus is restructuring unsecured debt payments so clients “pay only a fraction of the debt they owe,” helping them become debt-free within 20 to 48 months.

In fact, one of the company’s most controversial ads claimed that Americor “is the fastest way to pay off $10,000 or more in credit card debt.”

Sound too good to be true? Let’s find out.

Americor debt consolidation: quick facts

OwnerAmericor Funding, LLC
Email[email protected]
Phone(866) 333-8686
Hours:Monday-Friday: 6 AM to 7 PM PT
Saturday: 6 AM to 5 PM PT
Sunday: closed
Head OfficeIrvine, California
AvailabilityAmericor services are only offered in 30 U.S. states
BBB RatingA+
Minimum Debt Settled$7,500 in unsecured debt
Fees14% to 25% of your total enrolled debt

Americor debt relief services

Americor offers four services related to debt relief:

  • Debt consolidation loans: Debt consolidation loans are the company’s primary service and the focus of this article. Americor works with clients to convert their debt obligations into a single, lower-interest payment. Lower payments help clients manage their monthly expenses and obtain debt relief in a maximum of four years.
  • Debt settlement: According to Americor, they will negotiate “with creditors to pay off a portion of their debt, usually at a reduced amount.” Often, this avenue is pursued when monthly payments are too high to cover. While debt settlement may seem obvious, it can negatively impact your credit score. As a result, it’s imperative to fully understand the option and any alternatives before pursuing this service.
  • Credit counseling / debt management: Debt management plans (DMPs), also called credit counseling, is a payment plan produced and managed by a consumer credit counseling agency. The agency works on behalf of the borrower to negotiate more favorable monthly payments with the creditor. Sometimes lower interest rates are also obtained.
  • Bankruptcy advice: Americor also offers advice around bankruptcy. Their experts work with you to determine whether bankruptcy is advisable or if less severe options remain.

Is Americor debt relief appropriate for you?

According to Americor, their debt consolidation services aren’t for everyone. Some individuals are so heavily indebted that consolidation is insufficient.

Still, many others can benefit from their services. Americor lists the following four requirements to ensure debt consolidation success.

  • Your overall total debt is 50% or less of your income.
  • Your credit rating is sufficiently high to qualify for 0% credit card / low-interest consolidation loans.
  • You possess a stable income that covers your monthly bills.
  • You follow a disciplined spending budget designed to avoid further debt accumulation.

If you’re having trouble making monthly payments and meet the criteria above, consider consulting with Americor for a debt consolidation solution.

Americor debt consolidation reviews

Americor enjoys exceptional reviews across multiple platforms:

  • The company has an A+ Better Business Bureau (BBB) rating with 4.71 stars out of 5 based on over 1,800 customer reviews.
  • Americor debt relief has a rating of 4.7 stars out of 5 on Google, based on over 7,000 reviews.
  • On Trustpilot, Americor has received nearly 15,500 reviews with an average rating of 4.9 stars out of 5.

Needless to say, clients of Americor have been overwhelmingly satisfied with their services.

Is Americor legit?

In short, yes. Americor is a legitimate, American-based debt services company accredited and recognized by the Better Business Bureau.

In addition to its substantial number of positive client reviews, Americor possesses accreditations from numerous trade organizations, including the consumer rights organization, American Fair Credit Council (AFCC), and the International Association of Professional Debt Arbitrators (IAPDA).

According to the company, as of 2023, they have helped relieve over $2 billion in debt across over 200,000 individuals.

Americor debt relief features

Americor debt relief services include several features:

  • Zero up-front fees: Americor debt consolidation services charge no up-front costs. Instead, Americor’s fees are wholly performance-based. In fact, according to the company, they “don’t get paid until your debts are settled, per FTC regulations.”
  • Single monthly payment: Americor debt consolidation services work to provide its clients with a reduced, single monthly payment consistent with your financial capacity. In other words, Americor takes a holistic approach to ensure you’re comfortably and realistically decreasing your debt over time.
  • Rapid debt reduction: Americor claims they can resolve your debt in as little as 20 months.
  • Fast, free consultation: You can consult with Americor commitment-free with their free consultation. The best part, you’ll understand your debt relief options in less than five minutes.

Americor debt consolidation: pros and cons

Americor only performs credit soft pulls, which won’t impact your credit score.Some people claim their customer service is less responsive than they would like.
Debt reduction progress can be tracked via Americor’s online portal.Americor is only available in 30 states.
Free consultation.Your credit can suffer at the outset of Americor’s debt consolidation program
Performance-based fees: no up-front costs.
Shorter resolution times compared to some other debt consolidation providers.

How much does Americor debt consolidation cost?

Americor fees are performance-based and calculated on your enrolled debt at the beginning of the program. Based on a rough estimate, your fees will range from 14% to 25% of your total enrolled debt.

According to the company’s track record, clients who successfully make all monthly program payments save an average of 43% of their enrolled debt before fees.

Next steps

Leveraging a platform like Americor can be life-changing for many people. While some can crawl out of heavy debt independently, most need assistance and a disciplined plan.

Don’t be left guessing whether you should utilize professional services to help shrink your debt. If you’re drowning in monthly payments, consider consulting with a company like Americor to explore your options.

You might be pleasantly surprised.