Beyond the debt mountain: 8 best debt relief companies helping rebuild futures

That’s where debt relief companies come in. They negotiate your debt with creditors on your behalf, working to reduce the total amount you owe and create a plan for repayment, allowing you a chance to regain control over your finances and rebuild your life.

Reputable debt relief companies have fair pricing, a solid track record, satisfied customers, and agents who hold certifications from reputable organizations like International Association of Professional Debt Arbitrators (IAPDA, formerly known as the American Fair Credit Council), American Association for Debt Resolution (AADR), or Financial Counseling Association of America (FCAA). We’ve done the work for you to find the best debt relief companies that meet this criteria.

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The 8 best debt relief companies of July 2024

Best for credit card debt: National Debt Relief

About

Headquartered in New York City, National Debt Relief has settled more than $1 billion in debt. It has helped more than 500,000 people located all over the United States settle their debt. 

More than $1 billion in unsecured debts resolved — one of the larger amounts of debt settled that we’ve come across. 

Like others on our list, National Debt Relief has an A+ BBB rating, the highest possible score. 

National Debt Relief debt specialists are available Monday through Friday from 8 a.m. to midnight EST and weekends from 8 a.m. to 10 p.m. If you’re a current client, customer service is available Monday through Friday from 10 a.m. to 8 p.m. EST. 

Our verdict 

Good for those seeking private student loan debt relief, National Debt Relief’s enormous amount of debts resolved and clients served makes it an attractive option. Its availability during late and weekend hours is beneficial for onboarding new clients, although these extended hours are not offered to existing clients. As with the rest of the options on our list, it charges no fees upfront, and its performance-based pricing model ensures your financial well-being is a priority.

With over 75,000 five-star reviews, it’s one of the highest-rated debt relief companies. Its debt arbitrators are all certified through the International Association of Professional Debt Arbitrators (IAPDA). These arbitrators then deal directly with the creditors, aiming to reduce the client’s overall debt. They’ve resolved over $1 billion in unsecured debts.

See our full review on National Debt Relief.

National Debt Relief’s services

National Debt Relief provides many ways to ease a client’s burden of debt. While specializing in debt settlement, this is complemented by other supports, including: 

• Debt settlement
• Debt consolidation
• Credit counseling
• Financial education
• Bankruptcy prefiling counseling
• Bankruptcy post-filing education

National Debt Relief’s pros and cons

National Debt Relief’s fees

You won’t pay anything to National Debt Relief unless they settle your debt, and you approve the settlement. After one settlement payment is made, then National Debt Relief collects its fee. On average, a client will pay anywhere from 15% to 25% of the total debt enrolled. 

This means if you have $25,000 in credit card debt to enroll, you’re looking at paying $3,750 to $6,250 in fees. This payment will come out of your Dedicated Account.

Best overall: Money Management International

About

Headquartered in Stafford, Texas, Money Management International (MMI) was rebranded in 2003, but the nonprofit debt and credit counseling organization has been around under different names since 1958. MMI has a stellar track record of counseling over 2.5 million people and repaying $10 billion in debt. In 2022 alone, MMI serviced over 46,000 debt management plans for their clients, which resulted in almost $193,000,000 worth of debt repayments. Its success is evident with their consumer reviews with an A+ BBB rating and 4.6 out of five stars with TrustPilot.

Our verdict

MMI’s track record of success, glowing consumer reviews, and longstanding reputation combine to make it our top choice for debt relief companies. There’s a lot to consider with debt solutions, especially how it will impact your credit score negatively. MMI is a full-service organization that also supports credit repair solutions as well, making it more appealing for those thinking about the complete cycle needed to achieve financial flexibility. 

Best of all? It’s a nonprofit. This means MMI prioritizes clients’ financial health over profits. It aims to help clients achieve long-term financial stability, rather than focusing on increasing its own bottom line. This puts it in a class of its own as many debt relief companies are for profit. 

See our full review on Money Management International.

MMI’s services

With a variety of services designed to help clients get out of debt, manage their housing, and afford homes, MMI does what few debt relief companies can. It focuses on making solutions affordable to clients. These include:

• Debt management plans
• Credit counseling
• Credit report review
• Foreclosure prevention counseling
• Eviction prevention counseling
• Homebuyer counseling
• Reverse mortgage counseling
• Bankruptcy counseling and education
• Student loan counseling

MMI’s pros and cons

MMI’s fees

When you sign up for a MMI debt management plan, you’ll pay a setup fee as well as a monthly fee. Both your monthly fee and your set-up fee depend on the amount of debt you’re repaying and your location. Per MMI, clients pay an average of $25 per month and $33 in setup fees.

Another great thing about MMI is it caps the amount you’ll pay. You will never pay more than $75 to set up your debt management plan, and you won’t ever spend more than $59 per month in fees, no matter the amount of your debt in repayment or location.

Best for customized options: Accredited Debt Relief

About

Headquarters San Diego, California, Accredited Debt Relief has been providing debt relief services to clients since 2011. Since then, the company has helped serve over $1 billion in debt to its 300,000 clients. Like other debt relief companies, Accredited Debt Relief offers a free initial consultation to review the client’s debt circumstances and craft a relief program.

Accredited Debt Relief can assist with debts from credit card, personal loans, department store credit, and medical. They cannot support with auto loan or mortgage related debts.

Our verdict

Accredited Debt Relief is one of our top debt relief picks because of its almost-perfect Trustpilot score and great scores across BBB and Google. The company says its clients typically become debt-free between two and four years. Aside from negotiating with your creditors, Accredited Debt Relief also supports loan consolidation offered by its affiliates as another debt solution option. 

Accredited Debt Relief also expands its reach by providing a client education program. This gives clients tools and resources to understand their finances better and make debt management decisions that are well-informed. Clients can see all of their progress at a glance from their personalized dashboard.

See our full review on Accredited Debt Relief.

Accredited Debt Relief’s services

For clients grappling with mounting debt, Accredited Debt Relief provides several solutions. These include: 

• Debt consolidation
• Debt settlement
• Credit counseling
• Personal finance management education
• Bankruptcy counseling

Accredited Debt Relief’s pros and cons

Accredited Debt Relief fees

When you consolidate your debt with Accredited Debt Relief, they’re connecting you with its affiliates whose loans’ annual percentage rates (APR) range from 4.9% to 35.99%. In addition to the APR, you’re paying an origination fee of 1% to 6%. Your fee is then 25% and is based on the success of the loan. 

According to Accredited Debt Relief, clients pay an average of 55% on their enrolled debt before fees are taken into consideration. When you add the fees on top of it, its savings aren’t as great.

Best for all unsecured debt types: Americor Debt Relief

About

Headquartered Irvine, California, Americor Debt Relief has been serving clients in need of debt solutions since 2008. The company states it has negotiated thousands of settlements on behalf of over 200,000 clients, and helped them clear $2 billion in debt. On average, Americor reduces their clients’ total debt by 37%,

Like many of the debt relief companies, the process starts with free consultation, and per Federal Trade Commission (FTC) regulations, they do not take any upfront fees. Clients will pay a percentage of the total debt enrolled, though it varies by state.

Our verdict

Americor Debt Relief is one of our top picks for debt relief because of its success rate of relieving over $2 billion in debt for its clients. It also has a glowing Trustpilot rating and, more importantly, supports debt relief for several debt types, including credit card debt, payday loans, medical debt, private student loans, personal loans, and personal business debts. Additionally, Americor can help with auto repossessions, mortgages, and tax debts.

The company recently announced the launch of a personal loan option to help its clients with debt consolidation with a fixed rate of 24.99%, which can be a good solution for anyone with high-interest credit card debts.

In addition to connecting with an entire network of creditor partners, Americor sets its clients up for success by offering financial literacy resources. This helps clients budget properly and make better decisions.

See our full Americor Debt Relief review.

Americor Debt Relief’s services

To help clients overcome financial struggles, Americor offers a variety of services. These include: 

• Debt settlement
• Debt consolidation
• Credit counseling
• Financial education
• Personalized financial assistance

Americor’s pros and cons

Americor Debt Relief’s fees

Your fees depend on the amount of debt you’re enrolling in the Americor program. This is based on a percentage of the debt enrolled and varies from 14% to 29%. For a debt settlement offer to be made to creditors, you must save a minimum of 25% of each debt. This amount is then used to offer up in settlement to the creditor.

Best for customer support: Pacific Debt Relief

About

Headquartered in San Diego, California, Pacific Debt Relief is available in 30 states, and has partnerships with debt relief companies in the states it doesn’t serve. In operation since 2002, Pacific Debt Relief has built an expectation of trust. Like the others on this list, Pacific Debt Relief has an A+ rating with BBB, which is the highest a company can have. Its customer service is available Monday through Thursday from 6 a.m. to 7 p.m. PST, Friday from 6 a.m. to 4:30 p.m., and Saturday from 7:30 a.m. to 4:30 p.m.

Our verdict

Good for those who prioritize customer service. Of the 1,456 Pacific Debt Relief reviews on Trustpilot, 84% were 5-star reviews, and 11% were 4 stars. The vast majority of reviews praise its customer service, and that’s something we like to see. Being burdened with debt is one of the most stressful situations one can face, and having a friendly voice on the other line to hold your hand and walk you through the process is sometimes all you need to see a light at the end of the tunnel and know that you’re not in this alone.

With new technology designed to make it easier for clients to communicate with the Pacific Debt Relief team, case management is made even smoother through better efficiencies. Plus, its team receives regular training on the best practices and negotiation tactics for creditors.

Learn more in our full Pacific Debt Relief review.

Pacific Debt Relief’s services

Pacific Debt Relief provides a range of services for its clients. These include: 

• Debt settlement
• Personalized financial consultation
• Credit counseling
• Financial education resources
• Program for managing and reducing unsecured debts

Pacific Debt Relief’s pros and cons

Pacific Debt Relief’s fees

With Pacific Debt Relief, you’ll pay no fees upfront. These fees range from 15% to 25%, depending on your location and the amount of debt you have.  

Best in availability: Century Support Services

About

Headquartered in North Huntingdon, Pennsylvania, Century Support Services has been servicing clients in need of debt solutions since 2003. Since its inception, the company has helped over 259,000 clients settling a total of more than $1.7 billion in debts.

Like other debt relief companies, Century Support Services’ process starts with a free consultation and clients only get charged after based on the amount of debt enrolled. Clients who make all their monthly program payments on time will pay on average 50% of their enrolled balance in addition to the fees Century Support Services collects, which is 25% of the enrolled debt.

Our verdict

Century Support Services is one of our top debt relief picks because of 20 years of success in reducing debts for over 259,000 clients. It has an A+ BBB rating and a strong Trustpilot rating, which are indications of positive customer feedback. While Century Support Services’ 25% rate is standard, many of the competitors do charge a lower rate based on certain circumstances or vary by state. 

Century Support Services helps tackle high-interest credit card debt and works to negotiate lower interest rates. It also works to reduce principal balances, which will reduce the overall debt repayment period. 

See our full review of Century Support Services.

Century Support Services’s services

Century Support Services is much like a tailor, in that it offers a variety of solutions for its customers based on their financial needs. These include: 

• Free initial debt assessment
• Personalized debt settlement programs
• Debt negotiation
• 24/7 online account management
• Customer support and client advocacy
• Educational resources for financial management

Century Support Services’s pros and cons

Century Support Services’s fees

Fees vary from state to state, and Century Support Services doesn’t detail these. However, its fees are significant—it claims clients realize savings of approximately 43% but that’s before fees. The amount saved after fees is 16%, factored over 24 to 48 months. This only counts those who stay in the program and settle all their debt.

Best in customer satisfaction: New Era Debt Solutions 

About

Headquartered in Camarillo, California, New Era Debt Solutions works to alleviate debt for clients located in 20 states, and an additional 27 states through Consumer First Legal Network (CFLN). It does not serve clients in Iowa, Maine, or Oregon.
Since its inception, New Era has negotiated $275 million in debt relief. It reports an average reduction of 42.87% off the account balances at the time of settlement.
Since 1999, New Era Debt Solutions has worked to negotiate settlements for clients in a variety of hardships.
A BBB rating of A+ is the highest a company can score on its letter scale. Points are assigned based on factors such as complaint resolution, time in business, complaint volume, and business practices.
New Era has debt specialists available Monday through Saturday from 7 a.m. to 8 p.m. PST and after hours by appointment. If you’re a current client, customer service is available Monday through Friday from 8 a.m. to 5 p.m. PST.

Our verdict 

Good for those seeking relief and an effective path out of debt. New Era Debt Solutions doesn’t sugarcoat the process and provides the facts that other debt relief companies trying to earn your business might shy away from. It has an entire page dedicated to these hard truths, detailing its average settlement amounts, reasons why people have left the program before completion, and the average length of time it takes someone to complete its program. This transparency allows potential clients to make informed decisions and goes a long way in building trust and credibility.   

With an entire team of debt specialists to help with the settlement process, it can tailor the strategy to each financial situation. It also partners with Consumer First Legal Network, which extends its reach further, allowing for legal insight when necessary.

See our full review on New Era Debt Solutions.

New Era Debt Solutions services

New Era Debt Solutions aims to help clients reduce the stress of overwhelming debt. It does this through the following services: 

• Debt settlement
• Customized financial analysis
• Creditor negotiation
• Financial education and resources

New Era Debt Solutions pros and cons

New Era Debt Solutions fees

New Era Debt Solutions does not provide the details of its fees. It states that this depends on your location, the amount of debt, and the amount you can set aside to settle. You won’t pay any maintenance fees, and no fees are due until the debt is settled.

Best for interactive engagement: Freedom Debt Relief 

About

Headquartered in San Mateo, California, Freedom Debt Relief works with clients all over the country to get relief from their unsecured debts, such as credit cards and medical bills.
Freedom Debt Relief has served over 850,000 client, the most out of every company on our list, and has settled more than four million accounts.
Freedom Debt Relief has settled over $18 billion in debt, the most out of all the debt relief companies on our list.
Debt relief specialists are available Monday through Friday from 8 a.m. to 11 p.m. EST, and Saturday through Sunday from 9 a.m. to 9 p.m. EST. Customer service for current clients can be reached Monday through Thursday from 8 a.m. to 9 p.m. EST, Friday from 8 a.m. to 8 p.m. EST, and Saturday through Sunday from 10 a.m. to 8 p.m. EST.

Our verdict 

Good for those who want an interactive dashboard that keeps you updated on the progress of your debt relief situation. Every time a new settlement offer comes in, you’re notified via phone and through your interactive dashboard. From there, you can select whether to accept it or not. This is particularly helpful for those with busy lives who don’t always have time to hop on a phone call.

They’ve negotiated over $15 billion in debt as the largest debt relief provider in the U.S. The process starts with an in-depth consultation with specialists. It will then tailor strategies for every financial goal the client has.

See our full review of Freedom Debt Relief.

Freedom Debt Relief’s services

Services offered by Freedom Debt Relief include the following: 

• Personalized debt analysis
• Custom debt negotiation plans
• Online client dashboard for real-time updates
• Comprehensive creditor negotiations

Freedom Debt Relief’s pros and cons

Freedom Debt Relief’s fees

You won’t pay any upfront fees with Freedom Debt Relief. Instead, you’ll pay 15%-25% of the debt enrolled. However, this rate can vary by state and the amount you enroll. The fee is charged only after you approve of the settlement offer and a payment has been made to the creditor.

What to know about debt relief companies

The first thing you should know about debt relief companies is that not all types of debt can be negotiated. Anything backed by the federal government or by collateral is ineligible for relief. This includes federal student loans, mortgages, and auto loans. Some private student loans may be eligible, depending on the debt relief company and your circumstances.  

Most debt relief companies require you to be facing some kind of financial hardship, such as a divorce or layoff, before they’ll consider taking you on as a client.   

While you’ll get out of debt, know that your credit score will likely tank in the immediate term. This is because, to negotiate with creditors, the money you’d typically put toward your debt will go into an FDIC-insured trust account to accumulate. This means missed payments and you’ll continue to receive collection calls. After all, why would a creditor negotiate if you’re already making on-time payments? 

Additionally, you don’t need a debt relief company to settle with creditors. There are plenty of online resources to do it yourself, but if you’re not confident in your negotiation skills, having an expert do it for you can save you time, money, and stress. After all, you don’t want to agree to unfavorable terms or misunderstand any of the legalities of your agreements.

How to choose a debt relief company

Choosing a debt relief company should be done with care because the last thing you want is to end up in a worse situation than you’re in now. Here are some questions to ask potential debt relief companies:

• Is it accredited by any industry organizations?
• Does it publish its success rate? How about its failure rate?
• What are its fees?
• How long is the program?
• How are you notified of settlement progress?
• Does it have an in-house or external legal team?

Watch out for debt relief scammers

The unfortunate truth about the debt relief and credit repair industries is that scammers are ready to pounce on the vulnerable. They prey on those who are looking for easy out from insurmountable debt by promising unrealistic results. Be wary of any companies charging money upfront (the FTC doesn’t allow this), making promises that your credit score won’t go down (if you’re settling, it will), and offering to settle for pennies on the dollar (it can’t). Some of these scammers will use automated robocalls to proactively reach people in debt. 

Protect yourself from scammers by confirming the agency you are speaking with is accredited and has a track record of success. You should do independent research on sites, such as Trustpilot and BBB. Search its name and website and check for negative customer reviews and any lawsuits. Any legitimate debt relief company cannot make you pay a fee upfront or promise to stop all debt collectors from calling. Lastly, if what they are promising appears to be too good to be true, then it probably is. 

Alternatives to debt relief companies

There are many alternative options before resorting to a debt relief company. Some of these include:

• Debt consolidation
• Debt management 
• Negotiate with creditors yourself
• Personal loan
• Home equity loans or lines of credit 
• Balance transfer credit cards
• Credit counseling
• Bankruptcy

Frequently asked questions

Will my credit score improve by using a debt relief company?

In the short term, your credit score will almost always go down. You won’t be making payments on your debt, which will be reported to credit bureaus as a missed payment, and instead will be taking that money and putting it into an FDIC-insured trust account to accumulate until enough money is collected to settle. Once a settlement is reached, debt relief companies use the money in the trust account to settle that debt. However, in the long-term, once the missed payments drop off, your score is likely to increase as the debt decreases.

Do debt relief companies charge money upfront?

No, it’s against the FTC to charge money before settling. Instead, debt relief companies charge a fee based on the amount they have settled on your behalf. Typically, debt relief companies charge 15% to 25% after an agreement is reached.

Can credit relief companies stop collection calls?

No, you’re likely to continue to receive collect calls even when actively working with a debt relief company. This is because you’re missing payments. Legally, creditors are allowed to continue to attempt to collect on the debt owed.

How does debt relief work?

Debt relief can come in a number a ways all with the goal of reducing or eliminating your debt. Debt relief companies typically negotiate a settlement with your creditors to reduce your overall balance. They’ll then work out a more manageable payment plan with you at a lower interest rate.

Our methodology 

To determine the five best debt relief companies, our team did a thorough qualitative analysis of dozens of debt relief companies. We analyzed the services offered, its published track record, industry reputation, customer reviews, accreditations, and its customer service.

Consumer Reviews (40%): What actual consumers have to say about their experience with a debt relief company is taken into account heavily because dealing with the stress of debt cannot be understated. We looked at a number of consumer review sites, such as BBB, Trustpilot, and Google Reviews, to compile the score.

Costs (30%): Anyone looking for debt relief should be focused on how much it will cost them to reduce their debt because, after all, it has to be worth it. That’s why we heavily weigh costs in our methodology.

Average time to settle debt (20%): Anyone with mounting debt should be concerned with how long it takes to settle and achieve debt-free financial freedom.

Free consultation (5%): All debt relief companies should not charge you for your first consultation. It is against the laws of the FTC for them to take any upfront fees. 

Accreditations and types of debt services (5%):- There are several relevant accreditations that debt relief companies can have. Those badges indicate the debt relief company is trained properly to offer you sound advice on how to manage or reduce your debts. We also weighed the types of debt services each company provides, such as debt settlement and debt consolidation.