DebtBlue Review: Is It A Scam Or Legit? Read Our Honest Review
DebtBlue Review: Is It A Scam Or Legit? Read Our Honest Review
DebtBlue

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If you’re struggling with debt, you may be considering DebtBlue as an option to help you get back on your feet. But is DebtBlue a scam or legit? In this DebtBlue review, we’ll take a look at the company and see what it has to offer. We’ll also discuss whether or not DebtBlue is a good choice for those looking for debt consolidation. So, if you’re curious about DebtBlue, read on!

DebtBlue is a debt consolidation company that offers its services through direct mail. The company has been in business since 2012 and is headquartered in Florida. DebtBlue consolidates your debts into one monthly payment, which can help you save money on interest and get out of debt more quickly.

However, there have been some complaints about this company’s bait and switch scheme. Some customers have reported that they were lured in by the company’s low introductory rates, only to see their rates increase after a few months. Others have said that they were promised a low monthly payment, only to find out that their payments had gone up after they added additional fees.

While DebtBlue may not be a perfect company, it is a legitimate debt consolidation service that can help you get out of debt. However, you should be aware of the complaints against the company before you sign up for its services. If you’re considering this company, make sure you read the fine print and understand all of the terms and conditions before you agree to anything. That way, you can avoid any surprises down the road.

DebtBlue Review: Is It A Scam Or Legit? Read Our Honest Review 1
DebtBlue Review: Is It A Scam Or Legit? Read Our Honest Review 2

DebtBlue Pros and Cons

We recently came across DebtBlue and decided to do a little research on the company. What we found was that DebtBlue has more cons than pros. Here are some of the things I found:

  • Debt Consolidation: This company uses a bait and switch scheme when it comes to consolidating debt. They advertise one rate, but then charge a higher rate once you sign up.
  • A lot of complaints: There are a lot of complaints against them from customers who say they were misled about the terms of their consolidation loan, charged hidden fees, or had their account closed without notice.
  • Their customer service is also very poor, with many people reporting that they were unable to get in touch with a representative when they had questions or problems.

So, while they may be able to help you consolidate your debt, there are a lot of potential pitfalls that you should be aware of before you sign up. We would recommend looking into other options before deciding to go with this company.

What is DebtBlue?

DebtBlue is a debt consolidation company that offers services to help you pay off your debts. However, DebtBlue has been accused of bait and switch schemes, where they lure customers in with low-interest rates and then raise the rates after the customer has signed up.

DebtBlue has also been accused of not making payments to creditors on time, which can damage your credit score. If you’re considering using this company to consolidate your debts, be sure to do your research first. You may be better off with a different debt consolidation company.

How does DebtBlue work?

It is a bait and switch scheme that relies on direct mail to lure people into consolidating their debt. The company promises to help you consolidate your debt and get out of debt faster, but what they don’t tell you is that they will charge you hidden fees and interest rates.

As per customers, this company is nothing more than a scam designed to take advantage of people who are struggling with debt. If you’re considering consolidating your debt, beware of DebtBlue and other consolidation companies that use bait and switch tactics. There are better options out there that can help you get out of debt without being scammed.

What is a debt consolidation loan?

A debt consolidation loan is a type of loan that allows you to pay off your existing debt with a new, single loan. This can be beneficial if you’re struggling to make payments on multiple debts each month, or if you’re looking to save money on interest charges.

There are a few different types of debt consolidation loans available, so it’s important to compare your options before choosing one. Some common types of debt consolidation loans include home equity loans, personal loans, and balance transfer credit cards.

If you’re considering taking out a debt consolidation loan, be sure to do your research and talk to a financial advisor to ensure that it’s the right decision for you.

How to qualify for a DebtBlue debt consolidation loan?

If you are struggling with debt, a debt consolidation loan may be a good option for you. A debt consolidation loan can help you pay off your debts and get your finances back on track. To qualify for a debt consolidation loan, there are a few things you will need to do.

First, you will need to have a minimum credit score of 640. This is the minimum credit score required by DebtBlue in order to qualify for a loan. If you do not have a 640 credit score, you may still be able to qualify for a loan if you have a cosigner with good credit.

Second, you will need to have a minimum income of $24,000 per year. This is the minimum income required in order to qualify for a loan. If you do not have a job or if your income is below $24,000 per year, you may still be able to qualify for a loan if you have a cosigner with good credit and a steady income.

Third, you will need to have no outstanding bankruptcies or foreclosures. If you have filed for bankruptcy in the past, you may still be able to qualify for a debt consolidation loan. However, if you have an active bankruptcy or foreclosure, you will not be eligible for a loan.

Fourth, you will need to provide documentation of your debts, income, and assets. This documentation will help determine whether or not you are a good candidate for a debt consolidation loan.

If you meet these qualifications, you may be able to get a debt consolidation loan from this company.

What kind of debt consolidation program does DebtBlue offer?

DebtBlue offers a debt consolidation loan program that can help you pay off your debt and get your finances back on track. With this program, you can consolidate your debt into one monthly payment, which can save you money on interest and make it easier to manage your debt.

However, DebtBlue’s high-interest rates and hidden fees can make debt consolidation a bad choice for many people trying to get out of debt. If you’re considering debt consolidation, be sure to do your research and compare different programs before making a decision.

How much does DebtBlue charge?

The cost of debt consolidation through DebtBlue depends on the size of your loan and the repayment term. They advertise no origination fee or prepayment penalty but some complaints have stated otherwise.

The minimum loan amount is $1000, and the maximum loan amount is $100,000. The interest rate is a fixed rate between 12% to 28%. For example, if you have a $20,000 loan with a 24-month repayment term, your monthly payment would be approximately $956.

To consolidate your debt through DebtBlue, you will need to have a good credit score. If you don’t have a good credit score, you may still be able to qualify for a debt consolidation loan with a cosigner and a very high-interest rate.

If you’re struggling with debt and looking for a debt consolidation loan, DebtBlue may not be the best option.

What is the minimum credit score for a DebtBlue debt consolidation loan?

The minimum credit score for a DebtBlue debt consolidation loan is 640. However, keep in mind that the higher your credit score, the better your chances of getting approved for a loan and getting a lower interest rate. If you have a lower credit score, you may still be able to get approved for a loan, but you may have to pay a higher interest rate.

If you’re thinking about consolidating your debt with a DebtBlue loan, make sure to check your credit score beforehand so you know what to expect. You can get your free credit report at AnnualCreditReport.com. Once you know your credit score, you can start shopping around for the best consolidation loan for you.

Who owns DebtBlue?

We don’t really know. The company is secretive about who its owners are. All we know is that the CEO is Corey Butcher.

Corey has a lot of complaints against him. People say he uses bait and switch tactics. He’s also been accused of not following through on his promises.

We’re not sure what to believe. But one thing is for sure: Corey Butcher is the face of DebtBlue, and he’s not someone we would want to do business with.

We don’t recommend doing business with DebtBlue unless you’re absolutely sure you can trust them. For now, we’re keeping our distance.

How does DebtBlue affect your credit?

One way that DebtBlue can affect your credit is by doing a hard pull of your credit report. This can lower your credit score by a few points. Additionally, if you have any late payments with DebtBlue, this will also be reflected on your credit report and could cause your score to drop further.

Overall, having DebtBlue on your credit report is not ideal. However, if you keep up with your payments and don’t have any late payments, it shouldn’t have too much of an impact on your score.

How to cancel DebtBlue’s debt consolidation loan?

If you’re having second thoughts about your debt consolidation loan from DebtBlue, it’s not too late to cancel. Here’s what you need to know about how to cancel your loan and get out of debt.

First, you’ll need to contact DebtBlue and let them know that you want to cancel your loan. They may require you to send a written notice or request, so be sure to follow their instructions carefully. Once they have received your request, they will cancel your loan and send you a confirmation letter.

Next, you’ll need to repay the full amount of the loan, plus any fees or interest that have accrued. This can be a difficult task if you’re already struggling with debt, but it’s important to get out of debt as soon as possible. You may want to consider consolidating your other debts so that you can focus on repaying this loan.

If you’re having trouble canceling your DebtBlue loan or repaying the full amount, contact a credit counseling agency for help. They can assist you in negotiating with your creditors and developing a plan to get out of debt. With their help, you can cancel your DebtBlue loan and get back on track financially.

Debt consolidation loans can be a helpful tool if used correctly, but they’re not for everyone. If you’re having doubts about your DebtBlue loan, it’s important to act quickly and cancel the loan before it does more harm than good.

Who is DebtBlue affiliated with?

Here are some negative affiliations that DebtBlue has:

  • They are affiliated with scammers.
  • They are affiliated with companies that have been known to file for bankruptcy.
  • They are affiliated with companies that engage in unethical practices.
  • They are affiliated with companies that have been known to mistreat their employees.
  • They are affiliated with companies that have been known to engage in fraud and/or corruption.
  • They are affiliated with companies that have been known to violate consumer protection laws.
  • They are affiliated with companies that have been known to produce substandard products and/or services.

If you’re looking for a company you can trust, DebtBlue is not it. There are much better options out there.

DebtBlue Lawsuit

The Pennsylvania Department of Banking and Securities has filed a lawsuit against DebtBlue, alleging that the company violated the state’s Debt Settlement Services Act.

According to the lawsuit, DebtBlue engaged in unfair and deceptive practices by charging upfront fees for debt settlement services, failing to properly disclose all fees and terms of its services, and making false and misleading statements about its ability to settle consumers’ debts.

The lawsuit is seeking a permanent injunction against DebtBlue, as well as restitution for consumers who were harmed by the company’s practices.

This is not the first time that DebtBlue has been accused of wrongdoing. In 2016, the Federal Trade Commission filed a lawsuit against the company, alleging that it had engaged in deceptive and unfair practices. The lawsuit is still pending.

DebtBlue has yet to respond to the latest lawsuit, but it has denied any wrongdoing in the past. If you are a Pennsylvania resident who has used DebtBlue’s services, you may be entitled to a refund of your fees.

If you believe you may have been a victim of DebtBlue’s illegal practices, you are encouraged to contact the Department of Banking and Securities at (800)PA-BANKS.

DebtBlue BBB Reviews

The BBB has given DebtBlue a rating of B+, however, the business is not accredited. In the last three years, there have been 30 complaints closed and in the last twelve months, 21 complaints closed. When looking at these reviews, it’s important to take into account the number of customers that DebtBlue has. However, it’s still worth noting that there are a significant number of complaints.

When looking at the individual reviews, many customers note that they are unhappy with the service they received from DebtBlue. Complaints range from customer service issues to problems with the debt relief process itself. There are also a few reviews that mention being scammed by DebtBlue.

Here are some DebtBlue BBB reviews:

Samantha P 05/04/2022

Called multiple times and left voicemail messages to cancel this account and no one gets back to you to confirm. Decided that this program is not right for me at the moment. Can’t even get in touch with the representative who helped me. His name is Cedric. How can I trust this company when they can even get back to you properly.

Melissa W 04/26/2022

I am getting no results with Debtblue and they continue to charge me legal and other fees (much more than is getting paid to my creditors). I’ve had over $10K that I deposited into my Debtblue account nearly 6 months ago and still, my creditors have not been settled – this is an additional lump sum that I deposited when I received a bonus at work (in addition to my monthly payments). And I’ve had to pay additional legal fees above and beyond the monthly amount and still NO RESULTS after months and months. I feel that this company is a scam. I should have settled with each creditor on my own.

Marilyn C 04/19/2022

I am new to this so not sure about any of it but figured I’d try before I quit this one. Only been a month so not sure if they did anything yet with my debt. All I know is I keep getting calls and text messages from debt collectors. I hope this doesn’t mess me up more than I am after reading all these posts.

Is DebtBlue Legit or a Scam? 

If you’re considering using DebtBlue to help you with your debt, you may want to think twice. The company has been the subject of lawsuits and has a lot of complaints from customers.

The Pennsylvania Department of Banking and Securities has taken action against DebtBlue, alleging that the company violated the state’s Debt Settlement Services Act. According to the department, DebtBlue operated without a license and charged customers illegal fees.

There are a lot of complaints about DebtBlue on the Better Business Bureau website. Customers allege that the company failed to deliver on its promises, didn’t disclose all of the fees upfront, and made it difficult to cancel the service.

If you’re considering using a debt settlement service, be sure to do your research first. There are many legitimate companies out there that can help you get out of debt, but DebtBlue may not be one of them.

Have you had experience with DebtBlue? We’d love to hear about it! Leave us a review and let us know what you thought. Was the process easy? Did you get the results you wanted? How much did you save? Let us know!

We’re always looking for feedback so we can continue to improve our services.

Thank you for reading!

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DebtBlue Review

DebtBlue Review

If you’re considering using DebtBlue to help you with your debt, you may want to think twice. The company has been the subject of lawsuits and has a lot of complaints from customers.

The Pennsylvania Department of Banking and Securities has taken action against DebtBlue, alleging that the company violated the state’s Debt Settlement Services Act. According to the department, DebtBlue operated without a license and charged customers illegal fees.

If you’re considering using a debt settlement service, be sure to do your research first. There are many legitimate companies out there that can help you get out of debt, but DebtBlue may not be one of them.

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