Did you get pre-qualified for a debt consolidation loan for 3.89% from a firm such as Proper Funding, Patriot Funding, Panther Lending, etc? 

Were you denied from the loan, but ended up with a Strategic Consulting representative that says that you qualify for “debt consolidation” with Atlas Debt Relief? Firstly, it can be helpful to understand who Strategic Consulting is as we wrote an article about the Strategic Consulting lawsuit against them.

With that said, what is Atlas Debt Relief? Should you continue to work with them? How do their rates compare to other companies? What do reviews online say about them? We will cover all of that and more in this article.

What is Atlas Debt Relief?

Atlas Debt Relief pitches that their compassionate debt consultants help consumers better manager their debt situation to financial wellness through a personalized program. It appears that Atlas Debt Relief may be an arm of Strategic Financial Solutions. What I found most interesting is actually from Strategic Financial Glassdoor reviews which is essentially employee reviews talking about the cons of working at the company. 

There is a huge difference between debt consolidation programs and debt consolidation loans and it is important to understand the difference before signing up 

Debt Consolidation Loan Vs. Debt Consolidation Program

I thought it would be helpful to understand the differences between a debt consolidation loan and a debt consolidation program. While a debt consolidation program may be beneficial for you, it’s helpful to understand the differences.

Debt Consolidation Loan:

1. You get the funds into your bank account or the funds are sent to pay off your creditors directly.

2. You get an interest rate tied to the loan

3. Your credit score may go up. 

4. You may have an origination fee.

5. You do not get sued by creditors if you pay your creditors on time.

Debt Consolidation Program:

1. You put funds into a special purpose escrow bank account to save to settle debt with the creditors. You do not receive funds.

2. You do not get an interest rate as it’s not a loan.

3. Your credit score may decrease significantly.

4. There is no origination fee as it’s not a loan.

5. You fall behind on your accounts

6. You can get sued by creditors and debt collectors as your account falls behind.

7. You could pay taxes on forgiven debt.

Atlas Debt Relief History

According to Atlas Debt Relief’s BBB page, the company started on 1/1/2022, but it says that the business was incorporated on 11/15/2017. If the business was started in 2022, then the company has only been around for just over 2 years.

While I could not find much information on Atlas Debt Relief’s history, I did notice that Atlas Debt Relief’s website was on Wayback Machine only since 2014, but I am unsure if they bought the name, or if they are the ones functioning since 2014. A lot of their reviews are more recent.

How Much Do Companies Like Atlas Debt Relief Cost?

At Ascend, we believe that debt consolidation programs (debt relief) may be a good option, but often in context in understanding all the costs and duration estimates of all your options. There are two types of firms you may work with, and the fees may be quite different.

• If you end up in a debt consolidation program with a non-law firm, you may pay generally between 15-25% of the enrolled debt amount, but the fees are not due until settlement has been reached and first payment has been made. So, if you have $10,000 in debt, you may pay between $1,500 and $2,500 in fees if you complete the program.
• If you work with a debt relief law firm, you may have to pay retainer fees before settlements have been reached. This can be an important distinction to understand in case you have to cancel the program before any settlements have been reached. In a traditional debt consolidation program, you often pay fees after the first settlement has been reached, but attorney debt relief firms may charge retainer fees before settlement has been reached.

Atlas Debt Relief Reviews

I was able to find Atlas Debt Relief reviews on a few different platforms. 

BBB Reviews

I was able to find Atlas Debt Relief’s BBB page, which gave them a 3.91/5 and an A- rating. However, noted in red, Atlas Debt Relief is not BBB Accredited. 

I was only able to find one complaint on their BBB page. They discussed how they felt lied to by Atlas. They promised one thing, and this individual ended up needing to settle the debt on their own with some creditors. 

Let’s see if we can find any Atlas Debt Relief reviews.

Google Reviews

I was able to find Atlas Debt Relief reviews on Google. They have a 3.6/5, with a lot of people saying they are feeling stress free so far. I noticed a lot of reviews mention feeling lied to and urge you to stay away. Some mention feeling as though the initial person they spoke with at Atlas was super kind, but then as time went on they felt lied to and their fees kept going up from what they were originally promised. 

Many reviews urge you to stay away from Atlas Debt Relief. 

Trust Pilot Reviews

I also found Atlas Debt Relief on TrustPilot with a 4.5 rating. One positive reviewer mentioned the fast result.

There are, however, negative reviews as well, stating they are just fishing for your money and took too long to get the process moving. 

Strategic Financial Solutions

I think it is important to also touch on Strategic Consulting (BBB page below) We write an entire article covering them as mentioned above, which you can read if you want to know more. Their rating has dropped since we originally wrote that article. They are now at 3.62/5 and have no grade rating. 

It seems as though Strategic Financial may own both Strategic Consulting and Atlas Debt Relief and refers people over to Atlas Debt Relief, which is an entity that they own.

What Should You Do?

Hopefully, understanding the Atlas Debt Relief reviews and how debt relief companies work can help you understand your next steps. It’s ultimately your decision and you understand your finances best.

If it’s helpful, please feel free to use the free debt resolution option calculator below to help you estimate the costs and duration of your different option.