Best Debt Companys

163 Companies 4,295 Real Customer Reviews

Best Debt Settlement Companies 2019

Ranked by experts. Reviewed by customers.TM

2019 TOP RECOMMENDED
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#1
Freedom_Debt_Relief
Settlement
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1-(855) 403-4319
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  • $0 in Upfront Costs
  • Price Lock Guarantee & Lifetime Warranty
  • Accredited by AFCC and IAPDA
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Our Score
9.1
User Score
9.1

#1 Freedom Debt Relief

Settlement
  • $0 in Upfront Costs
  • Price Lock Guarantee & Lifetime Warranty
  • Accredited by AFCC and IAPDA
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#2
Accredited_Debt_Relief
Settlement
Consolidation
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1-(866) 637-9581
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  • Don't Pay Until Debt Is Settled
  • Settle For Av. of 50%
  • Free Consultation
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Our Score
8.8
User Score
9.7

#2 Accredited Debt Relief

Settlement
Consolidation
  • Don't Pay Until Debt Is Settled
  • Settle For Av. of 50%
  • Free Consultation
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#3
Pacific_DebtInc.
Settlement
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1-(844) 801-7235
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  • No Credit Score Required
  • $0 Upfront Costs
  • Money-back Guarantee
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Our Score
8.7
User Score
9.5

#3 Pacific Debt Inc.

Settlement
  • No Credit Score Required
  • $0 Upfront Costs
  • Money-back Guarantee
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#8
National_Debt_Relief
Settlement
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  • Pay Only 18-25% of Total Debt
  • AFCC & IAPDA Accredited
  • $0 in Upfront Fees
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Our Score
6.5
User Score
1.8

#8 National Debt Relief

Settlement
  • Pay Only 18-25% of Total Debt
  • AFCC & IAPDA Accredited
  • $0 in Upfront Fees
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#11
DebtRX
Settlement
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1-(844) 291-0675
Call Now!
  • Minimum $5k Debt Requirement
  • Pay 15-22% of Total Debt Owed
  • IAPDA & AFCC Accredited
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Our Score
5.4
User Score
9.5

#11 Debt Rx

Settlement
  • Minimum $5k Debt Requirement
  • Pay 15-22% of Total Debt Owed
  • IAPDA & AFCC Accredited
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#23
Fast_Track_Debt1
Settlement
Visit Site  | 
1-844-518-8692
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  • Minimum $10k Debt Requirement
  • Pay 15% of Total Debt
  • Not AFCC or IAPDA Accredited
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Our Score
3.8
User Score
7.2

#23 Fast Track Debt Relief

Settlement
  • Minimum $10k Debt Requirement
  • Pay 15% of Total Debt
  • Not AFCC or IAPDA Accredited
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  • Takes your existing debt and try to settle with your creditors for a lower amount. If you pay off the settled amount, your debt will be considered paid in full.
  • Negotiates with your creditors on your behalf.
  • Fee based on a percentage of your total starting debt or a percentage of the debt they save you.
  • Most settlement companies have you create a separate "escrow" account where you will make monthly contributions over a certain amount of time to contribute to your settlement. Once there is a substantial amount of funds to show your creditors, the settlement company will try to negotiate a lower amount of debt.
  • Combines all your debts and creditors into one monthly payment.
  • Allows you to pay one monthly payment to the consolidation company, instead of multiple payments to different creditors.
  • You no longer owe your original creditors; instead you pay one monthly payment to your consolidation company.
  • Consolidation companies can help negotiate lower interest rates on your debts and help lower your total debt payment in the long run. A lower interest rate will lower the amount you owe in the end.
  • Allows you to consolidate all your different debts into one personal loan that can be paid off over time.
  • Can offer borrowers a lower interest rate with a longer payback term (compared to high-interest credit cards or medical bills). This will lower the amount of money required to pay off the loan over time.
  • Personal loan debt consolidation can be an effective way to raise your credit score quickly (within 3-6 months).
  • Borrowers can receive funds from their loan within only a few days.
Real Reviews (yes they’re real)
With so many debt relief companies out there, and a lack of sites willing to bring you the HONEST breakdowns of each company, what source can you turn to for the real information you can trust?

We are dedicated to bringing the truth out, and rank debt relief companies as they should be. Through our investigation, and experience with each company, we rank each company, and bring you our honest, unbiased opinion. We also include authentic user reviews by past customers of each company that are moderated and verified.

Like many sites, we are compensated through affiliate relationships with each company we review, however all of our rankings are based on our 11-Point Ranking Criteria.

All reviews are subject to moderation and approval. Any reviews that may resemble false information, or competitors of another company will need to be verified by our staff before being approved and published. We reserve the right to approve or deny any reviews left on this site.

What to Know Before Choosing a Debt Settlement Company

Declaring bankruptcy has several consequences: it stays on your credit report for 10 years, affects future eligibility for loans, involves selling assets, and often includes lawyer fees. Fortunately, debt settlement avoids the bankruptcy process by negotiating your debt lower and making it easier to pay off.

Debt Settlement Process

The debt settlement process begins with a free consultation. At the free consultation, a company representative will review your financial situation and answer your questions about the debt settlement process.

If you decide to use the company’s services, you will stop making payments on your bills. Instead, you’ll set money aside into a separate account to be used as a lump sum payment when a settlement is reached. Because you are no longer making payments, you credit score drops.

The debt settlement company will start negotiating with creditors. When a successful settlement is reached and paid, you will be debt-free. However, your credit report will say that all of these debts were “settled” instead of “paid in full.”

Debt Settlement Cost

Debt settlement companies often reduce debt by 20 to 50 percent, but also charge a certain percentage of the total debt clients enroll, usually between 15 and 25 percent, for their services.

Trustworthy debt settlement companies do not charge any enrollment fees and always offer a free consultation prior to enrollment. They also do not charge for their services until a successful settlement is reached.

Debt Settlement Requirements

Most debt settlement companies have a minimum amount of debt that they will accept. This amount varies by company. On the low end, the debt requirement is $7,500, though some companies require a higher minimum.

Many debt settlement companies focus on unsecured debt, like medical bills, credit card debt, and payday loans.

Alternatives to Debt Settlement

While debt settlement is a better option than bankruptcy, it still is not the best way to resolve your debts. Before choosing debt settlement and signing up with a company, it’s a good idea to also consider credit counseling and debt consolidation. These programs help lower your interest rates, manage a budget, and stick to your monthly payments.