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Trident Debt Solutions

Trident Debt Solutions is a company that works with customer who have fallen deep into debt and are struggling to keep up with their bills, or are running straight towards bankruptcy. Trident Debt Solutions prides itself on being a small operation catering only to those that are in dire need of debt services.

Unlike a number of companies which require you to have an outstanding debt of $10,000 Trident only works with individuals that owe more than $40,000 in unsecured debt.

Debt Settlement Services
Trident is able to reduce your outstanding debt to about 50 cents on the dollar. They believe that the debt settlement option is the best solution as it directly reduces your outstanding debt amount. The reduction in the principle amount means that the interest amount is automatically reduced. This means that you are paying back more of the principle every month and can become debt free in a shorter period of time. Typically people can expect to become debt free in about 36 months as compared to the 48 or 72 months required with credit counselling plans.

A debt calculator is provided on Trident Debt Solution's website however it is quite simplistic and does not provide too much detail. A couple of examples are also available but again they are quite simplistic and do not provide too much information.

If you decide to sign up with Trident they will charge a $100 setup fee per creditor that you enrol in the program. They will also charge you 25% of the money they are able to save you through their debt settlement programs. While this might seem like a high number it is a good option for those that are severely in debt as Trident is usually able to get you in the clear within 18 months. The timeframe for you becoming debt free depends greatly on the amount you are able to spend on your debt every month. Trident asks its customers to pay at least 4% of their debt every month; if your debt is $40,000 then you would pay approximately $1,600 per month. If you are able to make an upfront payment then you can make a huge dent in your debt right off the bat.

Each customer has a trust account setup for them where they deposit their money and the payments are made on their behalf to the creditors. This is a good option for clients that are not able to control their spending impulses as it takes control of the money away from them. For some customers the money is deposited into the account and when it reaches a certain amount Trident negotiates a lump sum deal with your creditors. According to Trident this is the most effective solution and results in the greatest savings.

Customer Support and Reviews
For those customers that need more help Trident Debt Solutions provides a detailed FAQ page that gives a good overview of the company's services and value adds. The company also provides two pages of customer testimonials which help to build confidence in the services provided by Trident Debt Solution

The company also provides a number of other articles that shed light onto various topics such as:

Bankruptcy vs. Debt Settlement
Refinancing and Debt consolidation loans
Tax consequences of debt settlement

The information and resources provided by Trident shows that the company is truly dedicated to helping people live a better life.

While reviews like this can help to evaluate companies it is imperative that you personally talk to the company and review their services before coming to any sort of decision.

Trident Debt Solutions is not suitable for everyone as they only deal with extreme cases. However if you are someone who has accumulated a mountain of debt Trident Debt Solutions might just be the company that you are looking for.

For more information on Debt Consolidation companys, go to Debt Consolidation.

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