Best Debt Settlement Companies – Become Debt-Free
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Make a commitment to get out of debt with a dedicated team that will support you every step of the way, providing you with the necessary resources and assistance to achieve financial freedom. You’ll get the help you need without paying any fees for our services until your debts are reduced and you save money.
See if you qualify for credit card relief.
Millions struggle with debt. We help them move on with their lives.
- End your debt stress with a proven, affordable debt relief program. Our consultants will guide you through every step.
- Everyone’s financial situation is different. That’s why we start by giving you a free debt analysis and create a custom solution based on your unique needs and goals.
- Let us help you solve your debt problems and move forward with improving your overall financial health.
Not available in CO, HI, ND, OR, RI, VT, WA, WV, WY, MN, DE, IA.
Debt is a useful financial tool. But debt may also be a risky option and sometimes leaves you in a tough financial situation.
Having too much debt can feel like you are being overwhelmed by aggressive creditors trying to take your money. This is when debt settlement companies may become useful. You need to be very deliberate and attentive when choosing the right option to avoid scams and make sure you are in a solid debt relief program.
In this article
Best debt settlement companies
- Best for interactive progress tracking: Freedom Debt Relief
- Best for student or business debt: National Debt Relief
- Best for personalised service : ClearOne Advantage
- Best for assistance with back taxes: CuraDebt
- Best for high-interest debt: Accredited Debt Relief
- Best for attorney access: New Era Debt Solutions
- Best for one-on-one customer services: Century Support Services
- Best for unsecured debt: Pacific Debt, Inc.
- Best for fast settlements: Debtmerica
- Best for credit card debt: CreditAssociates
Relieve $25k+ in Credit Card Debt or Personal Loan Debt With TurboDebt
- Relieve $25k+ in credit card debt or personal loan debt with this special relief program.
- TurboDebt has a Trustpilot rating of 5/5 based on 1288 reviews
- Subject to qualification and approval. $1,500 monthly income required.
- Apply in 5 minutes. If you qualify, chat online with a friendly online debt representative.
Compare the best debt settlement companies
Debt Settlement Company | Fees | Minimum amount | Most common types of debt settled |
15%-25% | $ 7,500 | Credit cards, personal loans, private student loans, P2P loans | |
15%-25% | $ 7,500 | Credit cards, personal loans, business loans, credit unions | |
15%-20% | $ 10,000 | Credit card, personal loans | |
20% | $ 5,000 | Credit card, medical, personal loans, back taxes | |
15%-25% | $ 10,000 | Credit cards, medical, personal loans | |
14% -23% | $ 10,000 | Credit cards, personal loans, private student loans | |
18%-25% | $ 10,000 | Credit cards, medical bills, personal loans | |
15%-25% | $ 10,000 | Credit cards, medical bills, private student loans, back taxes | |
20%-24% | $ 10,000 | Credit cards, personal loans, business loans | |
15%-25% | $ 10,000 | Credit cards, medical bills, business loans |
Best for interactive progress tracking: Freedom Debt Relief
Pros & cons
Pros
- No upfront fees.
- A certified debt consultant.
- An interactive dashboard to help track progress.
- Excellent customer service.
Cons
- Unavailable in all states.
- Cannot assist with Federal student loan debt, mortgages or auto loan debt.
Minimum debt amount: $7,500
Fees: 15%-25%
Debt relief services should be your final option, but there are solid ways to create a debt management plan, and Freedom Debt Relief is one of them. This company, which is a founding member of the American Fair Credit Council (AFCC), has a long track record of settling many types of debts. They have over $10 billion in settled debt since 2002, resolving an average of 39,000 accounts per month. Because of their long history of dealing with debt collectors, they are well known and taken seriously.
They give control back to you by allowing you to decide the amount and frequency of your monthly payment. They also assign you a team of highly trained debt counselors to walk you through the process of eliminating your debt. There are no upfront fees and you will have one low monthly program deposit: you choose the amount and frequency. No fees are charged until results are seen.
Visit Freedom Debt Relief
Or read Joywallet's review of Freedom Debt Relief.
Best for student or business debt: National Debt Relief
Pros & cons
Pros
- No upfront costs.
- You get to review every settlement and choose to accept or reject it.
Cons
- Not available in all states.
- Does not help with unsecured debts.
Minimum debt amount: $7,500
Fees: 15%-25%
National Debt Relief is a member of the AFCC and one of the largest debt settlement businesses in the nation. Since 2009, they have helped over 400,000 people get out of debt. They settle many types of debts, including personal loans, credit card debt, lines of credit, medical bills, collections, repossessions, business debts, and certain student debts. (They do not handle some debts such as mortgages.)
They offer a free consultation, create an affordable debt management program that works for you, then get to work helping you with your debt settlement plan. No fees are charged until the settlement process is complete, and nothing is charged if debts cannot be settled.
Visit National Debt Relief
Or read Joywallet's review of National Debt Relief.
Best for personalised service :ClearOne Advantage
Pros & cons
Pros
- No upfront costs.
- Personalised plan.
- 30-day satisfaction guarantee.
Cons
- High fees.
- Not available in all states.
- Difficult to get an online quote.
Minimum debt amount: $10,000
Fees: 26%-28%
If you have unsecured debts, ClearOne Advantage is worth considering. It offers a complete debt resolution service and you are not required to pay any upfront fees. The company has helped over 170000+ clients manage debt. You will get a free consultation and based on the same, the experts will have a repayment plan in place. You will only have to pay a fee once this plan is shared with you. ClearOne Advantage sets itself apart from competitors with its massive library of articles and guides that can help you consider all the options and make the right decision. If you stick to their plan, you can save about 50% within 2 to 5 years.
Visit ClearOne Advantage
Or read Joywallet's review of ClearOne Advantage.
Best for assistance with back taxes: CuraDebt
Pros & cons
Pros
- Low minimum debt requirement.
- Low fees.
- No upfront costs.
- Helps with tax relief.
Cons
- Not available in all states.
- Does not handle unsecured debts.
Minimum debt amount: $5,000
Fees: 20%
Although CuraDebt does not offer as many debt relief options as some of the other businesses in this article (not to mention their website is outdated), they DO offer the unique ability to address issues with back taxes, which can be an extremely difficult debt relief problem. If you face an IRS issue, it may be worth getting a free consultation with a CuraDebt credit counselor. Any loan tied to a physical item, though (e.g. house, car, etc.), cannot be included.
They also offer the ability to work with a credit restoration business upon completion of your debt settlement program to clean up your credit report and rebuild your credit score. There are no upfront fees and face-to-face consultations are only offered in Hollywood, Florida.
Visit CuraDebt
Or read Joywallet's review of CuraDebt.
important: Your credit score could be temporarily harmed if you participate in a debt settlement program.
Best for high-interest debt: Accredited Debt Relief
Pros & cons
Pros
- No upfront fees.
- Short plan duration.
- Personalised service.
- Money-back guarantee.
Cons
- Unavailable in every state.
- Does not handle unsecured debt.
Minimum debt amount: $10,000
Fees: 15%-25%
Accredited Debt Relief has a good track record of following through on its promises. Clients of Accredited Debt Relief have an average repayment of about 55% of their enrolled debt upon completion, and the programs are about 12 to 48 months. They do this through a debt consolidation loan.
They offer a free consultation and savings estimate, promise to get you out of debt without bankruptcy, and charge no upfront fees. The fees typically range from 15%-25% of the debt enrolled.
Visit Accredited Debt Relief
Or read Joywallet's review of Accredited Debt Relief.
Make a commitment to get out of debt with a dedicated team that will support you every step of the way, providing you with the necessary resources and assistance to achieve financial freedom. You’ll get the help you need without paying any fees for our services until your debts are reduced and you save money.
See if you qualify for credit card relief.
Best for attorney access: New Era Debt Solutions
Pros & cons
Pros
- Slightly lower fees.
- Highly rated.
Cons
- Only offers debt settlement services.
- No mobile app.
Minimum debt amount: $10,000
Fees: 14% - 23%
NewEra Debt Solutions has an A+ rating from the Better Business Bureau, 20 years of experience, and a client dashboard that allows easy monitoring of your progress. It also offers an excellent customer experience, although the pricing of this program may vary more than others. The cost varies depending on a number of factors, including credit balances, your ability to contribute to the escrow balance, the amount that can be negotiated from your balance, and fees charged to negotiate the settlement.
Spanish speakers will also benefit from the ability to work with a Spanish-speaking debt specialist and access the client dashboard entirely in Spanish. It does not charge any upfront fees and does not disclose a typical fee range.
Visit NewEra Debt Solutions
Best for one-on-one customer services: Century Support Services
Pros & cons
Pros
- IAPDA and AFCC certified.
- High customer rating.
Cons
- Lengthy process.
- Limited availability across states.
Minimum debt amount: $10,000
Fees: 18%-25%
Century Support Services’ purpose is to help you take control of your debt so you can live your best life. They do this by customizing a debt settlement program specifically for your situation. Their debt settlement can reduce your debts significantly and help you get on a path to eliminating your debt. They will negotiate for you to lower the amount you owe, and you are assigned one representative to work with you throughout the entire process. While there are no upfront fees, they usually charge 18%-25% of the debt enrolled.
Visit Century Support Services
Best for unsecured debt: Pacific Debt, Inc.
Pros & cons
Pros
- Client dashboard to track progress.
- Excellent customer service.
Cons
- Not available in all states.
- Does not offer other services.
Minimum debt amount: $10,000
Fees: 15%-25%
Pacific Debt, Inc. will help you get out of debt through debt consolidation and a customized debt settlement program. Their services are available in a little over half of the United States and can help with various unsecured debts. However, they do not assist with secured debts like car or home loans. It is not available in all the states and the fees range from 15% to 25%.
Visit Pacific Debt
Best for fast settlements: Debtmerica
Pros & cons
Pros
- Comparatively low fees.
- Short settlement period.
Cons
- Not available in all states.
- Might charge fees before the completion of settlement.
Minimum debt amount: $10,000
Fees: 20%-24%
Debtmerica can lower your unsecured debt, provide one low monthly payment, and provide you with sound advice through their attorney-based settlement program. Your first settlement should be completed within 4 to 6 months, as long as you make your payments on time and follow their program. Debtmerica is unavailable in all the states and could charge fees before a settlement is complete. The fees are typically about 20%-24%.
Visit Debtmerica
Best for credit card debt: Credit Associates
Pros & cons
Pros
- No upfront fees.
- Free phone consultation.
- Offers assistance with back taxes.
Cons
- Longer settlement tenure.
- Not available in all states.
Minimum debt amount: $10,000
Fees: 15% - 25%
Credit Associates is part of the AFCC and is a respectable debt settlement company. They work with unsecured debt, including credit card debt, medical debt, business debt, and back taxes, and they offer a free phone consultation. The length of their program is about 36 months. It has a performance-based fee each time a settlement is reached but no upfront fees.
Visit Credit Associates
Relieve $25k+ in Credit Card Debt or Personal Loan Debt With TurboDebt
- Relieve $25k+ in credit card debt or personal loan debt with this special relief program.
- TurboDebt has a Trustpilot rating of 5/5 based on 1288 reviews
- Subject to qualification and approval. $1,500 monthly income required.
- Apply in 5 minutes. If you qualify, chat online with a friendly online debt representative.
Make a commitment to get out of debt with a dedicated team that will support you every step of the way, providing you with the necessary resources and assistance to achieve financial freedom. You’ll get the help you need without paying any fees for our services until your debts are reduced and you save money.
See if you qualify for credit card relief.
How does debt settlement work?
Debt settlement works by negotiating with creditors to reduce the total amount of debt you owe. A debt settlement company typically handles the negotiations, aiming to settle for less than the full balance. During this process, you usually stop making payments to creditors and instead save money in a separate account, which will be used to pay the agreed-upon settlement amount. Once the settlement is reached and paid, the debt is considered resolved. However, the process can negatively affect your credit score because missed payments are often part of the strategy.
Debt settlement vs debt relief
Debt settlement and debt relief are related, but they refer to slightly different approaches to managing debt. Debt settlement specifically focuses on negotiating with creditors to reduce the total amount of debt owed. It aims to settle debts for less than the original balance, often requiring a lump-sum payment. Debt settlement usually involves working with a company that negotiates on your behalf, and while it can lower your debt, it may harm your credit score in the process.
On the other hand, debt relief is a broader term that includes various strategies for reducing or managing debt. It can encompass debt settlement, debt consolidation, credit counseling, or even bankruptcy. Debt relief is about finding the best method to alleviate debt, which could involve lowering interest rates, restructuring payments, or eliminating part of the debt entirely.
Millions struggle with debt. We help them move on with their lives.
- End your debt stress with a proven, affordable debt relief program. Our consultants will guide you through every step.
- Everyone’s financial situation is different. That’s why we start by giving you a free debt analysis and create a custom solution based on your unique needs and goals.
- Let us help you solve your debt problems and move forward with improving your overall financial health.
Not available in CO, HI, ND, OR, RI, VT, WA, WV, WY, MN, DE, IA.
FAQs
What is the difference between debt settlement and credit counseling?
These are two different methods of eliminating debt. A credit counseling agency walks you through the process of repaying your debt, but it will typically take longer and you will most likely repay the full balance. Debt settlement is a more aggressive approach that takes a shorter amount of time, and you typically do not repay the full balance owed.
What is nonprofit debt consolidation?
Nonprofit debt consolidation is a method of reducing credit card debt and making payments on time without taking out a loan by creating a debt management program. This option is offered by nonprofit credit counseling agencies at no cost.
What are balance transfer credit cards?
Using credit card balance transfers involves moving the amount owed on one credit card to another credit card, usually one with a lower interest rate, to reduce the interest accrued on the balance. This can be one way to handle debt that has spiraled out of control.
The bottom line
I need to restate that a debt relief program is a final resort. Exhaust all other options before you turn to one of these businesses to solve your debt crisis.
But if you find yourself at your final resort, be sure to research very carefully and choose an option that is trustworthy and has your best interest in mind. Each of these businesses offers unique pros and cons, so make sure you find the one that fits your debt relief needs.
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Writer
A veteran wordsmith and research nerd, Brittany Wren spent a decade working in higher education where she helped people overcome challenges to chart a path forward. These days, she writes about personal finance, careers, parenting and education. Her content has been published by a wide variety of brands including T-Mobile, Intuit, LifeLock, Reliant Fund Administration and CURO Financial Technologies Corp.
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