Practical Debt Relief
Our Impression of What the Company Offers to Consumers
The Practical Debt Relief website student loan page seems entirely confusing to the average consumer. The page top is about student loans but the examples given are for debt settlement. Then they launch back into student loan information.
The disclaimer on the bottom of the page regarding results is for debt settlement as well. It looks to me like a mix of benefits for a totally different program and a sales pitch for student loan services.
They also claim that all student loans can be rolled up into one loan but I don’t think they are going to roll private student loan debt into a federal student loan consolidation program.
The fees they quoted my researcher are massive as well. You will see them laid out below.
And they appear to want to toss private loans into a debt settlement / negotiation program and allege only 70 percent of the student loan debt would need to be repaid.
Here the sales representative says the fee for dealing with the private loans is going to be 20 percent of 70 percent of the enrolled private student loans.
Then the Practical Debt Relief sales representative says the fee for dealing with the federal student loans is based on the amount but it is between $399 to $999.
The representative appears to not warn the consumer that if the default on their private student loans they could have their wages garnished, a massive collection fee can be added, and other penalties may accrue also. It seems like a very dangerous approach.
The application given to my researcher clearly asks them for their FAFSA PIN number which the Department of Education warns consumers against doing.
Practical Debt Relief, Inc.
5210 S University Dr Suite 104
Davie, Fl 33328 – Source
Additional Contact Information
Phone # 888-839-3574
Phone # 888-723-1453
Fax # 888-853-7651 – Source
Practical Debt Relief is a Debt Settlement company dedicated to helping the average American get their life back on track by learning how to manage their finances better. – Source
Greg Pesetsky – Founder & President – Source
The company was registered in Florida in 2008. The directors at that time were Greg Pesetsky, William Avila Jr, and Rogelio Rodriguez. – Source
Debt settlement and student loan program.
The site muddles together debt settlement and student loan assistance. Additionally there appears to be an advance fee for debt settlement assistance. If so, that would create a big issue with the FTC Telemarketing Sales Rules.
The student loan page on the website talks about being able have student loan debt forgiven in 120 monthly payments but it is not at all entirely clear and only one mention it only applies to a fraction of loan holders that meet the public service forgiveness program. It will not apply to everyone.
The BBB currently gives this company a D- rating. – Source
The BBB also lists a slightly different address for the company.
5220 S University Dr
SEO Next, LLC
6030 Hollywood Blvd.
Hollywood, Florida 33024
William Avila email@example.com
SEO Next, LLC
6030 Hollywood Blvd.
Hollywood, Florida 33024
SEO Next, LLC is owned by Rogelio E Rodriguez Jr, William Avila, and Vaibhav Kakkar. – Source
Greg Pesetsky was removed as an co-owner of that company in 1012. – Source
Our Opinion After Review
We previously wrote a guide on what companies should offer in a fair and consumer friendly student loan service program. Please read How to Run a Clean Student Loan Assistance Program. In addition we provide the following guides to check out debt relief companies:
- The Ultimate Consumer Guide to Checking Out a Debt Relief Company Before You Sign On the Line
- How to Check Out a Business or Company to Avoid Getting Scammed or Ripped Off
- Program Fees Clearly Stated on Site: No
- Client Agreement Clearly Available on Site: No
- States Consumers Can Contact Department of Education Directly to Consolidate and Reduce Payments for Free: No
- Provides clear link to Department of Education Loan Options: No
- Provides Historical Performance Statistics on Student Loan Program: No
- Clearly Identifies Management/Officers on Site: Yes
- Company is Clearly Registered to Business: Yes
It is our opinion the program reviewed here DOES NOT MEET OUR RECOMMENDED STANDARDS.
Scam, Complaint, Review or Praise
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For Those Looking for Student Loan Resources
Before you pay any company for assistance with your student loans, be sure to check out our free student loan assistance links and guides below.
Student Loan Resources
You can use the following student loan resources to help reorganize, discharge or forgive your student loan payments.
The Overall Guide to Dealing With Student Loan Debt
Get Help For Your Student Loan Problem
Discharge Your Student Loans in Bankruptcy
- How to Really Discharge Your Student Loans in Bankruptcy. Many Can. But Never Try.
- A Look at Sallie Mae and Other Student Loans Discharged in Bankruptcy in 2012
- Federal Student Loans Discharged in Bankruptcy. A Look at the Surprising 2012 Data and Cases.
- These Private Student Loans Can Be Easily Discharged in Bankruptcy
- All Student Loan Bankruptcy Discharge Articles
Getting Sued Over a Student Loan
Private Student Loan Help
- Top 10 Reasons You Should Stop Paying Your Unaffordable Private Student Loan
- Private Student Loan Lenders Silently Slash Debt But You Don’t Know It
Student Loan Default
Student Loan Forgiveness and Discharge Information
- The Ultimate Guide to Dealing With Student Loans You Can’t Afford
- Obama Student Loan Forgivess Program
- Military Student Loan Forgiveness and Discharge Programs
- Student Loan Forgiveness or Discharge Can Create a Huge Tax Bill. Watch Out!
- Student Loan Public Service Loan Forgiveness – New Forms and Documentation Released
- Government Student Loan Disability Discharge
Watch Out for Student Loan Assistance Programs
- Student Loan Assistance Rescue Scams On the Rise – Buyer Beware
- Student Loan Assistance Report Out. Shows Danger of Such Programs.
Administrative Wage Garnishment
Student Loan Consolidation Information
- Student Loan Consolidation Payment and Interest Rate Calculator
- Student Loan Consolidation Opportunities and the Best Way to Lower Your Student Loan Payments
- Federal Direct Consolidation Loan Online Calculator
Specific Federal Student Loan Repayment Program Information
- Standard Repayment Plan
- Graduated Repayment Plan
- Extended Repayment Plan
- Income Based Repayment Plan
- Pay As You Earn Repayment Plan
- Income Contingent Repayment Plan
- Income Sensitive Repayment Plan
Maybe College Isn’t the Answer
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