Turbo Debt review: Is it legit? Pros and cons

There are countless reviews of Turbo Debt, but is it a legitimate company?

Although Turbo Debt has its critics, in its short history it’s also gotten many good reviews. So, can their services successfully help you climb out of years of crippling debt in as little as two years?

Over the next few minutes we’ll cut through the smoke and cover the following:

• What is Turbo Debt?
• How does Turbo Debt work?
• How much does Turbo Debt cost?
• Turbo Debt pros and cons
• Turbo Debt reviews—what is the market saying?
• Should you trust and use Turbo Debt?

By the end of this article, you’ll have a much better sense of whether Turbo Debt is right for you.

What is Turbo Debt?

Turbo Debt is an online debt settlement company that helps individuals or businesses negotiate with creditors for more favorable terms and ultimately resolve outstanding debts.

Armed with the knowledge and know-how to navigate the often complex and opaque world of debt settlement, Turbo Debt works on the debtor’s behalf.

But Turbo Debt is not the company that actually completes the restructuring negotiations. Rather, they refer you to trusted affiliates, like National Debt Relief.

How does Turbo Debt work?

Technically, Turbo Debt is a middle-man. They provide the service of connecting you to a debt settlement company.

There are several high-level steps that Turbo Debt undertakes with a new client. Initially, you will work directly with Turbo Debt, then be transferred to a debt settlement company they recommend.

• Consult: First, they offer a free consultation to any inquiring debtors. Should you engage with them, they will work to fully understand your debt situation and “the challenges you face,” according to their website.
• Plan: If you proceed with Turbo Debt’s services, you’ll be referred to a debt settlement company that will produce a customized plan. This might include establishing a disciplined savings plan with regular deposits into a designated account. This account will eventually be used in negotiations with creditors. In many cases, the debt settlement company will negotiate any outstanding debt to a single lump-sum payment that is less than the outstanding amount owed.
• Execute: Assuming a settlement with a creditor is accepted, the debt settlement company will work with you to clear your debt as quickly as possible. According to Turbo Debt, you can eliminate your debts in as little as 24 months. Usually, the funds needed for the final settlement will be sourced from the savings account established at the outset of the planning stages. The debt settlement company’s services will be considered complete only once all debts covered under the program have been cleared.

According to Turbo Debt, clients who use their service, adhere to the recommended program, and have their debts settled can expect an “approximate savings of 46% before fees, or 25% including our fees, over 24 to 48 months.”

How much does Turbo Debt cost?

Turbo Debt does not charge fees directly. Instead, you’ll be referred to a debt relief company that will likely charge between 20% and 25% of your enrolled debt.

Still, according to Turbo Debt, even with those fees, you can still enjoy substantial savings on your debt.

Turbo Debt Pros and Cons

Pros	Cons
The initial consultation is free of charge.	Turbo Debt is technically only a middle-man.
Turbo Debt offers numerous programs focused on specific debt challenges, like gambling debt, divorce debt, credit card debt, and more.	In some cases, using services like Turbo Debt can adversely affect your credit score.

Turbo Debt Reviews—what is the market saying?

First, the negative. Turbo Debt lacks accreditation from the Better Business Bureau (BBB). That may be important to some consumers.

On the other hand, on the BBB website, Turbo Debt enjoys an exceptional customer review of 4.93 out of 5. They fare even better on Google—boasting a five-star rating based on over 2,300 reviews.

Trustpilot shows more of the same: over 7,700 five star reviews. Not bad.

Remember that Turbo Debt is a middleman in the restructuring process. As such, they refer debtors to National Debt Relief, a debt relief and consolidation company.

Fortunately, National Debt Relief enjoys an A+ BBB accreditation and an average 4.5-star review on Google. Still, be sure to make your own assessment of any debt relief company.

Bottom line: Should you trust and use Turbo Debt?

For many people, Turbo Debt is the path to financial health and a debt-free life. While it lacks a BBB accreditation, it makes up for it with an impressive number of positive customer reviews.

If you’re having difficulty making minimum payments, are at risk of default, or have already defaulted and don’t want to declare bankruptcy, consider booking a consultation with Turbo Debt.

But be realistic about debt restructuring. A successful settlement requires discipline and patience. It won’t be easy, and using services like Turbo Debt is far from an assurance of success.

Still, these services can offer peace of mind and, in some cases, may be the only chance some debtors have to climb out of their holes.