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Find the right debt relief solution for you
Managing debt can feel overwhelming. The right debt relief program can help you combine balances into one manageable payment, lower your monthly interest rate, and get you on the path to becoming debt-free. Read about our recommended debt relief companies and learn how to get started
One Low Monthly Payment
Reduce Multiple Payments to One
Debt Free in 24-48 Months
100% Free Consultation
Free Savings Estimate with No Obligation
You Could Be Debt-Free in as Little as 24-48 Months
Prequalify without affecting your credit score
No customer fees to use the service
Best for less than $20k in unsecured debt
Best in class customer service
90 day money-back guarantee
Unlimited credit disputes
Serving Customers Since 2004
Free Credit Score
Legal Representation to Handle Credit Disputes
Credit disputes backed by a team of 27 licensed attorneys
A+ rating with the BBB
90 day money-back guarantee
What is debt relief?
Debt relief generally refers to the process of reducing your balance. Your debt is negotiated down, and you pay less than you owe. The creditor forgives the remaining balance in a transaction called a settlement. There are many options for companies that can help you consolidate your debt.
Some companies may also focus on helping you get your credit under control, pay off debt faster, reduce your monthly payments, and avoid bankruptcy
Pros and cons of debt relief
Seeking debt relief through a third-party company can be a great option if you’re deep in debt. Weigh the pros and cons of debt relief before making a decision.
Pros
- Get out of debt faster: Most plans can be completed in four years or less and you can end up paying up to 45% less than you owe.*
- Simplify your debt: Replacing multiple payments with one payment plan makes it easier to manage your budget.
- Avoid bankruptcy: Debt relief can help you get out of debt without needing to declare bankruptcy.
Cons
- Most companies require you to have at least $7,500 in unsecured debt.
- Cannot help with tax debt, mortgages, or federal student loans.
- Not every company operates in every state.
How to apply for debt relief
Understanding the application steps can help improve your odds of getting the type of relief you need.
1. Determine which debts to include: You don’t have to add all of your credit accounts to a debt relief plan. Be careful you will not be able to continue to use credit cards that you include in the plan.
2. Decide which type of debt relief is best for you: Select the realistic option for your income and budget. Debt relief is typically best if you’re behind on payments and can’t bring them current, or if you are struggling to stay current and could benefit from a lower monthly payment amount.
3. Learn the eligibility requirements for each program: Many debt relief companies require you to have at least $7,500 of unsecured debt to qualify.
4. Know what documents you’ll need: You should have copies of current statements for all debts you plan to pay off. You may also need proof of income, such as pay stubs or W-2s, or other forms of income like unemployment benefits or social security income.
5. Fill out an application: Applying for debt relief may be a more involved process than getting a loan. The debt relief company may need you to help get contact information for each creditor or provide updated pay stubs and personal documents as needed. However, some companies like National Debt Relief allow you to start your application online and get approved in minutes.
Frequently asked questions
Take Control of Your Finances
From debt management strategies and relief to settlement or bankruptcy, debt relief isn’t one size fits all. Set yourself up for success by choosing a program that works for your financial situation and goals. Remember, debt relief takes time and works best if you practice healthy financial habits to avoid additional debt in the future. It’s ok to seek help from a reputable company when needed. If you choose this service, make sure you feel comfortable with the debt relief company, understand its terms of service and aren’t paying significant upfront fees.
*Clients who are able to stay with the program and get all their debt settled realize approximate savings of 46% before fees, or 20% including our fees, over 24 to 48 months
