Critical Gaps in Consumer Access to Debt Relief Exposed

National Debt Relief urges action following industry research that reveals social media impacts consumer access to debt relief services and their trust in these resources.

NEW YORK, Feb. 20, 2025 /PRNewswire/ -- National Debt Relief, the industry leader in debt settlement known for its unique approach to debt relief, released findings from a series of surveys about the impact of debt on families across the United States. The survey responses reveal consumer views on debt relief services and the challenges they face when trying to access these essential financial resources.

In April 2024, National Debt Relief collaborated with YouGov to survey the general population, gathering insights from over 1,000 U.S. adults. Key findings include:

• 53% of survey respondents reported carrying unsecured debt from month-to-month, with 20% carrying a balance of $7,500 or more – enough to qualify for debt settlement (also known as debt resolution).
• Of those carrying $7,500 or more, 61% reported feeling stressed about their debt and 41% felt alone in their struggle, while only 26% reported an awareness of National Debt Relief.

These findings present a striking contrast when compared to surveys of clients who completed National Debt Relief's debt settlement program. In post-graduation surveys running since 2021, more than 70% of National Debt Relief program graduates report having increased financial confidence, feeling better equipped to handle unexpected expenses, and regularly saving part of their monthly income.

National Debt Relief conducted a follow-up study in July 2024, surveying over 3,600 active and graduated clients. The findings raised new concerns, highlighting significant barriers that prevent consumers from accessing debt relief resources:

• 69% of the clients surveyed wished they had enrolled sooner, but 40% expressed hesitating due to legitimacy concerns about the program or debt relief services generally.
• 18% of those who reported legitimacy concerns attributed them to something they saw on social media.
• 75% of all respondents believe that social media companies should NOT restrict information related to legitimate debt relief programs.

"Debt relief programs are a critical resource for Americans struggling to manage overwhelming debt," said Natalia Brown, Chief Compliance and Consumer Affairs Officer, National Debt Relief. "These survey results highlight the widespread burden of debt on consumers today, which is compounded by a lack of awareness about available solutions and the numerous obstacles encountered by those who seek help. We must address these gaps to ensure households have reliable access to effective debt relief programs that support long-term financial stability."

Policymakers and other stakeholders can empower families across the United States by prioritizing clear, unbiased information and simplifying access to legitimate debt relief programs. By maintaining clear standards and working to recognize credible service providers, regulators can help strengthen consumer confidence in the debt relief industry.

National Debt Relief has published a more detailed report which can be found by visiting https://www.nationaldebtrelief.com/wp-content/uploads/2025/02/National-Debt-Relief_Clarity-is-Key-to-Helping-Consumer-in-Debt__Feb-2025.pdf.

About National Debt Relief 

National Debt Relief is redefining the debt settlement journey. Our Whole Human Finance™ approach empowers, supports and guides our clients as they transform their lives by reclaiming their financial health and independence. As an accredited BBB A+ business and named the top-rated debt settlement company in 2023 and 2024 by Forbes Advisor, National Debt Relief has been recognized since 2009 for its human-centric approach to helping clients achieve financial wellness, and for helping hundreds of thousands of people resolve their debt and rediscover their whole selves. For more information, please visit NationalDebtRelief.com. 

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SOURCE National Debt Relief