rewrite this title Ascend Finance for Debt Settlement: 2026 Review – NerdWallet

Ascend Finance is a debt relief company that offers a debt settlement option for customers who want to lower their debt.

In this review, I cover how the debt settlement process works with Ascend, what pros and cons to consider and how to qualify.

But first I want to be clear: Debt settlement is risky. There’s no guarantee of success, and it can seriously damage your credit.

Debt settlement may be an option for those severely overwhelmed by debt. Before opting into a program, NerdWallet recommends exploring other ways to get out of debt, like enrolling in a debt management plan or applying for a debt consolidation loan.

If you opt into Ascend’s debt settlement program, you’ll likely need to stop making payments on your enrolled debts. You’ll instead deposit money in an FDIC-insured escrow account. You own this account completely, and you can access it anytime via an online customer portal.

As the money in the escrow account grows, Ascend will begin negotiating with your creditors to get them to accept a lower amount. Since you’ve stopped making payments on your debts, the thinking is your creditors will want to accept the lower amount versus getting nothing at all.

If a creditor accepts the offer, you’ll pay the creditor from the escrow account, and the debt will be considered settled.

Ascend says it takes about four years on average to successfully settle a customer’s enrolled debts.

The biggest cost of debt settlement is the settlement fee. Ascend’s settlement fee ranges from 10% to 22% of the total enrolled debt. This percentage is based on the average balance per enrolled account and your state of residence, Ascend says.

Here’s how the settlement fee works: Let’s say you enroll with $40,000 in credit card debt, and you’re able to settle that debt for $24,000. On the low end, you might pay a settlement fee of $4,000 (10% of $40,000). This is in addition to the $24,000 you pay to your creditors. Altogether you’d pay $28,000.

Other costs to using Ascend’s debt settlement program include a one-time $9.50 setup fee for the escrow account and a monthly $12.50 fee for maintaining the account.

Ascend Finance is a legitimate debt relief company founded in 2024, but it lacks key accreditations. At the time of writing this review, Ascend is not accredited by the Better Business Bureau or the Association for Consumer Debt Relief (ACDR).

It’s important to carefully weigh the pros and cons before deciding whether to work with Ascend Finance.

Low settlement fee: Ascend’s settlement fee range is significantly lower than competitors. While most debt settlement companies charge 15% to 25% of the total debt enrolled, Ascend only charges 10% to 22%. Since this fee is the most expensive part of hiring a debt settlement company, getting a lower percentage here can translate into thousands of dollars of savings. Only enrolled debts of $30,000 or more will qualify for the 10% rate.

Free initial consultation: Ascend Finance offers a free 15-minute phone call, which you can schedule on its website. During this call, Ascend conducts a full “budget and debt analysis,” then gives you a personalized recommendation for how to best pay off your debt. There’s no obligation to sign up for any service after the call.

Less established company: Ascend Finance is a relatively new company. Most debt settlement companies reviewed by NerdWallet have been in business for 10 years or longer. Ascend also lacks credentials from the BBB and the ACDR. These accreditations help vet businesses and protect consumers by setting industry standards.

A risky way to get out of debt: There are risks in working with Ascend Finance, including a major hit to your credit, falling deeper into debt as you await a successful settlement negotiation and even the possibility of being sued by a creditor. Learn more about debt settlement risks lower down.

No guarantee of success: Like all debt settlement companies, Ascend Finance may not be able to settle all your debts even if you follow the program perfectly. This is because not all creditors accept settlement offers.

Costs add up: When working with a debt relief company like Ascend Finance, you may be charged multiple fees, including a monthly account maintenance fee and a settlement fee of up to 22% of the enrolled debt. These fees are in addition to any charges you may accumulate from your creditors, like late fees or interest. Consider alternative ways to get out of debt (listed below) that may have fewer fees and cost less overall.

Ascend Finance works with consumers who have at least $8,000 in unsecured debt. Unsecured debt typically includes debts like credit cards, personal loans, payday loans and medical bills.

Ascend doesn’t settle secured debts, meaning any debt tied to collateral, like an auto loan or mortgage. It also doesn’t settle student loans.

Ascend says new customers typically enroll with $50,000 in unsecured debt, spread across eight accounts.

As part of enrollment, Ascend does a soft credit pull, which won’t hurt your credit score. There’s no hard credit check.

It’s important to understand the overall risks of debt settlement before deciding whether to work with Ascend Finance.

Organizations like the Consumer Financial Protection Bureau and the Federal Trade Commission urge consumers interested in debt settlement to consider these risks:

Though it may seem easier to have a third party, like a debt settlement company, intervene on your behalf, you could have just as much success calling your creditors and negotiating with them yourself — and you can save thousands by not having to pay a settlement fee.

Same as with using a debt settlement company, success isn’t guaranteed, but if you owe only a few creditors, it’s worth a try.

With a debt management plan, you’ll work with a nonprofit credit counseling agency to consolidate your debts into one monthly payment, while also reducing the interest rate.

This is a good option for consumers with credit card debt who have a steady income to repay the debt within three to five years.

Unlike debt settlement, a debt management plan should help build your credit score.

By taking out a debt consolidation loan, you can pay off multiple debts at once, so you’re left with only one payment on your new loan.

A debt consolidation loan should have a lower interest rate than your current debts, which saves money and helps you get out of debt faster.

Bankruptcy lets you resolve your debt under protection from a federal court.

Chapter 7 bankruptcy, the most common form, erases most unsecured debts in four to six months. It’ll also stop calls from collectors and prevent lawsuits against you.

Like with debt settlement, your credit will suffer, so consult a bankruptcy attorney first.

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