Did you know the average debt in the U.S. is almost $100,000?
For many households, this is what financial experts call “good debt,” or debt that is low interest and stable. There are still a lot of people who have a lot of “bad debt.”
If that is you, you do not need to worry. There are many programs out there that can help you pay your debt down. With so many programs out there, you need to be sure you join a legitimate and helpful program to meet your goals.
Continue reading to learn about the best debt relief programs on the market.
Freedom Debt Relief is one of the best debt relief programs on our list. One of the things that set Freedom apart from the rest is the rate at which the average applicants “graduate” from their program.
Freedom Debt Relief has over half a million clients enrolled, and many of its participants graduate from their program in as little as 24-48 months. Since 2002, Freedom has resolved over $10 billion in debt.
Like many debt relief programs, Freedom Debt Relief will negotiate with creditors to develop a manageable payback plan for you.
One of the many reasons why Freedom is so popular is its debt relief guarantees. If you end the program with more debt than you began with, they will refund you the difference.
Despite the clear benefits to Freedom, their debt settlements are usually not as competitive as some of the other programs on this list.
For customers who do not need fancy client dashboards or interactive processes, you may be able to settle for less with a different company.
Accredited Debt Relief has a proven track record of settling debts far below their total for over a decade.
Debt settlement is one of the major focuses of Accredited Debt Relief. There are online reviews of customers who settled their debt for as little as 30-50% of their total debt amount.
Accredited offers everyone a free consultation from a Certified Debt Specialist, and you can qualify regardless of the amount of debt you have.
There is also a competitive money-back guarantee offered by Accredited, which is one of the major perks of the program. This incentivizes Accredited to lower your debt, or else they don’t make money.
This will ensure you do not leave the program with a considerable amount of debt higher than what you came in with.
Accredited does not immediately publicize the pricing of their program. Applicants will need to be good candidates before they are offered completely transparent pricing, in many cases.
Though you can qualify with any amount, their plans prioritize debts in excess of $10,000. Because of this, you may want to look at another program if your debt is less than $10,000.
Beyond Finance works with clients who have unsecured debt. This kind of debt does not have collateral attached to it, and it is the most common type of debt people have trouble paying off.
Beyond offers free consultations and structures itself similarly to other debt relief programs on this list. You will open a “settlement account” in which you deposit your monthly payments into.
While you are saving money to pay off your debt, Beyond will negotiate a settlement with your creditors. They create custom plans depending on who you owe money to.
The average client in the Beyond program pays their debt completely in 2 to 4 years. The exact time depends on how consistent you are in your payments.
One of the best things about the Beyond program is how closely they work with their clients to help them pay off debt.
Instead of setting up your program and making you do all the work, they help you strategize and prioritize which debt you pay off first. They also educate their clients on how to handle collectors or tricky creditors.
GreenPath Financial Wellness is one of the more unusual programs on this list because they are a non-profit debt relief company. This program works great for people with smaller debts.
Though they do not negotiate debt settlements, this can be a perk for many people. Debt settlements often drop your credit score a considerable amount, but you pay your whole debt with GreenPath.
Debt management plans are also much cheaper because of this. Depending on your state laws, you will have a setup cost of less than $50 and a monthly fee. For smaller debts, this can amount to a much smaller percentage than debt relief programs charge.
In addition to their simple program, GreenPath focuses on credit counseling. You can meet their counselors in person, and they help their program members become financially free.
Debt can often isolate people, but GreenPath’s counseling and support structure support its members.
GreenPath has educated people on finance for 60 years. They partner with many programs and employers to offer the highest quality financial resources in the market.
Especially if your state requires low monthly payments, GreenPath could be a great addition to one of the other debt relief programs on this list because their financial resources are so great.
National Debt Relief has been in the business for longer than a decade. National checks all the boxes for a reputable debt relief program. There are no upfront fees, and it has thousands of positive reviews online.
For National, you will need at least $7,500 of qualifying debt, and they do not include mortgages in that amount.
For many people, National will best work for credit card companies, but they can also handle personal loans, medical bills, collections, repossessions, and many other kinds of debt.
National offers a free consultation, where you get to talk to a real person about your financial situation. After your consultation and confirmed eligibility, National will create an affordable plan negotiated with your creditors.
When it comes to handling debt, National knows what they are doing. Their goal is to help you regain financial stability and independence as soon as possible.
If you are thinking about enrolling in a debt relief program, you should take a look at National’s online reviews.
DMB Financial is one of the best programs on this list for high-interest credit card debt. Founded in 2003, DMB has been in the business for almost two decades and boasts a long track record of success.
DMB is a debt relief company accredited by the American Fair Credit Council. This ensures a level of quality similar to a lot of the debt relief companies on this list.
DMB offers all applicants a free consultation, and they often settle your claims with creditors for far less than what you owe.
Though it can handle other debts, DMB specializes in high-interest credit card debt. DMB will work with creditors to consolidate all your debt into one monthly payment.
These payment plans help you graduate from their program in as little as 36-48 months.
One of the major perks of DMB is you actively practice the habits of saving and financial literacy during your program. You “pay” your consolidated payment into a saving account that you will use to pay down your total debt.
This mimics the habit of saving money, which is a game-changer for many people.
New Era Debt Solutions is one of the best programs for applicants with specific cases in certain states.
New Era has an entire staff of in-house attorneys who operate in specific states. Though you may not be able to enroll in their program depending on where you live, their in-house-only attitude can get you out of debt fast.
New Era uses in-house staff for their clients. Their financial experts, attorneys, and account managers are all briefed on your application before they get to action helping you relieve debt.
This debt relief program also boasts one of the fastest graduation times. With an average of fewer than 28 months, most of their clients are debt-free in just over two years.
New Era uses a similar method of debt payment to other companies on this list. They open a savings account for you to deposit your monthly payment into.
Negotiating debt settlements with creditors can take some time, so you can start saving for debt payments while they negotiate some of the most competitive settlements in the market.
CuraDebt Relief can handle any debt amount from $1,000 to over $100,000.
For customers seeking debt relief in Florida, CuraDebt offers some of the most competitive rates at the expense of requiring in-person consultations.
If you live nearby and can make the trip, CuraDebt will be one of the most competitive debt relief options for you. They offer debt relief plans that cover multiple streams of debt for those with more complicated situations.
CuraDebt offers a free consultation with very transparent pricing. Unlike some of the other debt relief companies on this list, CuraDebt offers transparent pricing with competitive flat-fee pricing.
This company is also one of the best tax relief companies. They handle many cases with customers who owe money in tax debts.
Many customers settle for as little as 20% of the total debt owed, making this debt relief program one of the most competitive on this list.
Century Support Services is one of the debt relief companies that specialize in credit card debt.
Century has been in the business for almost two decades, and they are accredited by the AFCC. If your debt is entirely credit card debt, Century may be one of the best programs for you.
Century Support gives a free consultation to all prospective clients, and you can immediately access their live chat and educational resources on their website.
Though many of the debt relief companies on this list offer weekend appointments, Century only schedules consultations during the week, meaning you will have to work within their schedule.
Though they do not publicize transparent fees, many have reported fees between 18-25% of their total enrolled debt.
Despite these fees, Century settles many of their customers’ debts at just 50% of their total debt entering the program. Though you will have a fee, you will still pay much less than your originally owed.
Pacific Debt Relief is one of the best companies on this list for flexible program lengths.
Pacific Debt Relief offers a free consultation with one of their Debt Experts, and they pride themselves on being the most friendly debt relief company.
Debt can be a scary subject, and joining a program like Pacific can ease that stress for many and help you relieve debt.
Pacific also offers many competitive resources on its website. One of the most unique offerings is an interactive map for every state Pacific Debt Relief is licensed to operate in.
If you do not see your state on their website, they will refer you to one of their trusted partners.
In addition, Pacific Debt has very helpful debt relief guides on its website, showing readers what to look for in good debt relief programs.
If Pacific Debt Relief can practice in your state, it is a great debt relief option.
Many debt relief programs target specific kinds of debt, and it is often a great idea to shop around to find the best debt relief programs for your situation.
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