Finding yourself in a debt trap can be extremely distressing, and it can even cause hindrance to your and your family’s happiness.
Before things get out of hand, it’s best you take the necessary action and fix your situation.
For this, you can take the help of debt management and credit counseling services.
And in this Trinity Debt Management Review, we have broken down all the essential facts and information that you should know before you consider choosing them as your debt relief option.
Summary
| Portal | Trinity Debt Management |
| Founded | 1994 |
| Minimum Debt Settlement Requirement | Not disclosed |
| Fees | $8-$50 monthly fee |
| Features | Free consultation, Free educational materials. |
| Number of reviews | 178 |
| Community Rating | Moderate |
| Website | Click Here |
Key Takeaways
- Trinity offers many services, including Debt Management, Debt Consolidation, Credit Counseling, Debt Settlement, Budgeting, and Bankruptcy, but specializes in providing debt management plans.
- It charges a monthly fee of $8-$50 a month; the average monthly fee is $34.
- It can help you save up to a jaw-dropping 60% in debt, excluding fees.
- You can find diverse educational material on their website.
What Is Trinity Debt Management?
Trinity Debt Management is a non-profit agency that offers debt management and financial counseling for people who are under debt or under severe financial distress.
They claim that they can help manage your debt with your creditors and eliminate interest and fees up to 60% within three-five years.
Trinity also offers a debt management plan (DMP), unlike similar platforms.
A DMP requires the client to make a monthly payment to their chosen agency (in this case, Trinity).
Meanwhile, your agency negotiates with your creditors to reduce your fees and interest rate .
DMP is a better approach than debt settlement because it does not ruin your credit score; in fact, it boosts it. Let’s dig further and learn about Trinity Debt Management in detail.
Features
- Single-monthly Payment – Using DMP, Trinity combines all your monthly payments into one, which is way lower than your previous payments. Then these lowered single monthly payments help you get rid of your debt over a period of three-five years.
- Low-interest rates and fees – Credit card accounts are often charged a very high-interest rate of up to 30%, but credit card issuers reduce the interest rates to 5-10% when one joins the DMP plan.
- Hope for a fresh start – Once you have made a couple of one-time payments, you might start to bring your accounts current, also known as “re-aging.” This re-aging gives you an opportunity to create positive and better payment history.
Services Offered
Trinity offers the following kinds of services:
- Debt Management
- Debt Consolidation
- Credit Counseling
- Debt Settlement
- Budgeting
- Bankruptcy
Pros And Cons
Pros
- Offers debt management plan (DMP).
- Free consultation.
- Certifies credit counselors.
- Offers free educational resources.
- Track your progress through the client portal.
Cons
- Lack of transparency.
- Does not provide service in Montana, Nevada, Rhode Island, New York, or Kansas.
Fees
Trinity Debt Management charges a monthly fee ranging from $8-$50 a month; the average monthly fee is $34.
Also, the amount of interest that the Trinity charge has not been disclosed by the company yet. You should get in touch with them to get a quote on the prices and fees.
Also, the average industry standard for interest rate is 15-25% of enrolled debt amount which you can use to compare once you get to know their fees.
Minimum Debt Amount
Again, the company has not disclosed the minimum debt amount which is required for you to be eligible for the program.
Debt Relief Time
By making a reduced single-monthly payment with Trinity’s help, you can get debt-free within three-five years.
The amount of time depends on the monthly payment you make, the amount of debt you have and the interest rate, etc.
Savings
You can expect to save up to a staggering 60%, excluding the fees if you decide to go for Trinity’s debt relief program.
Types Of Debts Addressed
- Auto loans
- Credit card debt
- Federal student loans
- Unsecured personal loans
- Lines of credit
- Private student loans
- Medical debts
- Kids and money
How To Get Started?
You can get started with Trinity Debt Management service very quickly:
1. For this, just go to their official website, and click on “Get Started.”
2. A new page will open where you will have to fill in your basic information, along with your sharing information on your account type, account number, creditors name, interest rate, monthly payment, etc.
3. Once you fill in the details, click on submit, and their team will get in touch with you soon for a free counseling session.
Also Read: How Does Debt Relief Work, What They Do?
Customer Service
You can get in touch with Trinity Debt Management by calling them on 800-793-9049, between 9 am to 6 pm from Monday to Thursday and 9 am to 5 pm on Fridays.
NPC Trinity Debt Management Ratings
| Type | Rating |
| Customer Service | 4/5 |
| Responsive | 4.2/5 |
| Affordable | 3.8/5 |
| Debt Settlement help | 4.5/5 |
| Ease of use | 4.3/5 |
Customer Reviews And Ratings
Out of 178 customer reviews on Trustpilot, Trinity Debt Management has a 3.3-star rating.
However, the good part is that 84% of people have given it five stars, and only 1% have given a 1-star rating.
What Differentiates It?
Trinity Debt Management differentiates from others because it offers a variety of services, including budgeting, bankruptcy, debt settlement, debt consolidation, and even its specialty debt management plan. They also claim to reduce your overall debt amount by 60%.
Our Experience
We contacted Trinity for a free consultation call to know how effective are their plans.
So they began by asking us about our current debt situation and the challenges that we are facing in paying off the debt. We appreciate how patiently they listened to our problem.
After this, they also suggested ways in which we can get debt free in less time, all of which sounded great. We had a good experience with them and recommended using Trinity.
Comparison
| Companies | DebtWave | Trinity Debt Management |
|---|---|---|
| Founded | 2001 | 1994 |
| Fees | $49 monthly fee | $8-$50 monthly fee |
| Features | Free consultation, Free educational materials | Free consultation, Free educational materials |
| Relief Time | 3-5 years | 3-5 years |
| Savings | up to 40% excluding fees | up to 60% excluding fees |
| Minimum Debt Settlement Requirement | $5000 | Not disclosed |
| Our Rating | 4.9 | 3.8 |
| BBB Rating | A+ | Not accredited |
Read our full DebtWave Credit Counseling Reviews
How We Review Credit Counseling Companies?
We review credit counseling companies based on the following points:
- The types of debts addressed by the company
- Fees charged by them
- Minimum debt requirement amount
- Minimum relief time
- Company reputation
- Accreditation
- Customer service and ratings
Read Our Detailed Debt Relief Review Methodology
Final Verdict
Trinity Debt Management is a good company with a decent reputation. They offer services like debt settlement, debt management, debt consolidation, etc.
However, they have not revealed their fees and also do not offer service in Montana, New York, Rhode Island, Nevada, or Kansas.
So if you belong to either of these states or want a more transparent debt relief company, then you can choose Accredited Debt Relief which is one of our best-rated companies.
This one offers services in 50 states of the U.S. and charges 15% to 25% of the enrolled debt. You can read our Accredited Debt Relief review for more details.
This was our take on Trinity Debt Management reviews, and we hope you found it helpful.
FAQ’s
Is Trinity Debt Management legit?
Yes, it is a legit company and has helped a huge number of people settle their debts. However, it is not accredited by BBB, NFCC, or FCAA.
Will I have to pay tax after I get rid of my debt?
If the forgiven debt amount is more than $600, then yes, it will be considered taxable income, and you will have to pay tax on it..
Are Trinity Debt Management Agents Certified For Counseling?
Yes, they have certified agents.
How is Trinity Debt Management faith-based?
Trinity Debt Management is also known as a Christian debt management company, and because of this, they are known to be a faith-based company.
Where does it not operate?
Trinity Debt Management does not provide service in Montana, Nevada, Rhode Island, New York, or Kansas.
Traci is a highly experienced debt resolution expert with over 8 years of expertise in helping people become debt-free through various debt relief programs. As a former employee of a well-known debt relief company, she possesses exceptional knowledge and skills to take care of debt-related issues.
When not writing about debt, Traci can be found conducting in-depth research on the latest developments in the industry to ensure that she stays up-to-date with the latest trends and strategies.
ARTICLE SOURCES
The National Planning Cycles is committed to producing high-quality content that follows industry standards. We do this by using primary sources, such as white papers and government data alongside original reporting from reputable publishers that were appropriate for the accuracy of information while still being unbiased. We have an editorial policy that includes verifiable facts with due credit given where applicable.