Finances (US)

Best Debt Relief Companies

Check out the five best debt relief companies so you can decide which fits your needs better. Learn how they work and how they help you avoid bankruptcy and recover credit.

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by Aline Augusto

Published on 10/04/2022

Debt relief companies: good settlements and results

Get in touch with a professional to help you find debt relief. Source: Adobe Stock.
Get in touch with a professional to help you find debt relief. Source: Adobe Stock.

Debt can be overwhelming, especially if the amount and interest get higher and higher over time. Let some of the best debt relief companies help you overcome this situation.

Sometimes, when you cannot negotiate and pay off what you owe, the risk of declaring bankruptcy increases.

However, debt relief companies can help you with that. In general, those companies help you with good settlements, which means you can settle what you owe for less than your current debt.

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On the other hand, the fees charged for their services can be high. Therefore, it is important to consider the costs before signing up for a debt relief program.

Check out the five best debt relief companies so you can decide which fits your needs better. Learn how they work and how they help you avoid bankruptcy and recover credit.

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How do they work?

How these companies will help you get out of this challenging situation? Source: Adobe Stock.
How these companies will help you get out of this challenging situation? Source: Adobe Stock.

Debt relief companies offer different programs for those who want relief from their debt. The programs offered can be from debt settlement plans to debt consolidation options. 

Also, some companies provide debt management plans. Some programs are better for your financial health, but you must consider the fees involved before choosing your plan.

Usually, the companies that offer debt settlement programs work as an intermediate between you and your creditors. These companies set up a savings account in which you deposit money for a settled period of time.

Then, you stop paying your debts in order to save more and better and accelerate the settlement process. Finally, the amount you saved is used in the negotiation and settlement.

Furthermore, as you are already aware, the fees to maintain the account and the services to help you get out of debt are not cheap.

Normally, debt relief companies charge percentages above your debt that range from 15% to 25%.

So, considering signing up for a debt relief plan might be worth it in case you can’t save money on your own to negotiate and settle what you owe.

Otherwise, keep reading to discover the best companies that help you avoid bankruptcy and get back on track with your finances.  

Best overall: National Debt Relief

The first company we have selected is the best overall. National Debt Relief offers both debt settlement and debt management plans.

This company has been active for over ten years in the market and has been proving great results by negotiating and settling debts for less than the consumers currently owe.

On the other hand, it doesn’t work with some types of debts, including mortgages. 

The fees charged range from 15% to 25% of de debt enrolled.

CuraDebt

CuraDebt also offers debt management plans and debt settlement programs. However, the physical location for in-person consultation is only available in Florida. Plus, it only accepts qualifying debts of at least $7,500.

On the other hand, it is crucial to mention that the consultation process is free. 

Furthermore, this company is amazing for those who owe back taxes.

Accredited Debt Relief

The Accredited Debt Relief provides debt management plans as well as debt settlement programs.

The fees charged range from 15% to 25% of de debt enrolled.

The same as both companies mentioned above, Accredited Debt Relief shows results. 

Moreover, it offers a free consultation with a specialist. 

However, we couldn’t check all pricing terms. Also, the plans are designed for debts of more than $10,000.

Freedom Debt Relief

The sooner you ask for help to get debt relief, the better. Source: Adobe Stock.
The sooner you ask for help to get debt relief, the better. Source: Adobe Stock.

Freedom Debt Relief offers free consultation, debt management plans, and debt settlement programs with no upfront fees.

In addition, the fees charged range from 15% to 25% of the debt enrolled.

On the contrary, this company lacks more transparent results.

New Era Debt Solutions

New Era Debt Solutions offers debt management plans and debt settlement programs with fees ranging from 14% to 23% of debt enrolled.

Also, it doesn’t charge upfront fees and administration fees.

Furthermore, this company offers a free consultation with a specialist.

However, the services are not available in some cities.

Debt consolidation loans: options for reestablishing credit

Debt relief companies might be fantastic for those who cannot pay off their debt by themselves.

These companies offer plans that help people avoid bankruptcy, negotiate debt with better conditions, and pay off what they owe for less than the current debt.

On the other hand, the services can be expensive, and fees usually range from 15% to 25% of debt enrolled.

Therefore, it might be good to consider loans for debt consolidation. The same happens to other debt-relief options you must analyze the costs involved.

But, some lenders even consider smaller debt or mortgage debts, as well as borrowers with bad credit. Furthermore, it is crucial to understand that, either way, your credit will be affected.

So, before applying for a loan or a debt relief program, learn how the process works, how your credit will be impacted, and how it can be re-established over time.

Now, check out this article with some personal loans that offers debt consolidation and considers all credit scores.  

best loans for bad credit

Best loans for bad credit

We made a list of the best loans for bad credit. Learn how they work and choose one that helps you cover your needs and accomplish your goals. Check it out!

About the author

Aline Augusto

My name is Aline Mesquita; I'm a writer here on the blog, where I write about finance in general and other subjects. I have been working with content creation for ten years. Also, I'm post-graduated in Project Management, with expertise in SEO practices. Currently, I am studying finance, market trends, and cryptocurrencies.

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Aline Barbosa

Senior Editor

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