Top Debt Relief Companies To Rely On In 2021

[Reviews]

Are you struggling with huge amounts of high-interest debt? Do you feel like you’re out of options? In such situations, opting for the services of the best debt relief companies can be a lifesaver. As you’re going through our article, expect to see information such as methodology, reviews, a buyer’s guide, and more.

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1. CuraDebt

Virtually all reviews put CuraDebt among the top 10 debt relief companies, and it’s not for nothing. Not only can it cut your debt by 50%, by finding violations and irregularities, it can sometimes even get creditors to pay you instead. Full Review

  • Business debts covered
  • Debts lowered by 50%
  • Certain secured debts are covered
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Virtually all reviews put CuraDebt among the top 10 debt relief companies, and it’s not for nothing. Not only can it cut your debt by 50%, by finding violations and irregularities, it can sometimes even get creditors to pay you instead. Full Review

Requirements

★★★★☆ 4/5

Program Length

★★★★☆ 4/5

Results

★★★★★ 5/5

Fees

★★★★★ 5/5

2. National Debt Relief

If the payday loans you’ve requested have backfired and left you in a lot of debt, this is likely the right debt relief company to help you out. Its IAPDA-certified arbitrators can make you debt-free in as little as two years. Full Review

  • IAPDA and BBB certifications
  • Funds deposited in an FDIC insured trust account
  • Up to 50% debt reduction
VISIT SITE

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If the payday loans you’ve requested have backfired and left you in a lot of debt, this is likely the right debt relief company to help you out. Its IAPDA-certified arbitrators can make you debt-free in as little as two years. Full Review

Requirements

★★★★☆ 4/5

Program Length

★★★★★ 5/5

Results

★★★★☆ 4/5

Fees

★★★★★ 5/5

3. New Era Debt Solutions

If your debt isn’t that high but you’d still like to lower it and pay it off, New Era Debt Solutions is right for you. With low fees and high savings, it’s a great option for certain specific types of debt. Full Review

  • Low fees
  • No minimum debt required
  • Huge savings possible
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If your debt isn’t that high but you’d still like to lower it and pay it off, New Era Debt Solutions is right for you. With low fees and high savings, it’s a great option for certain specific types of debt. Full Review

Requirements

★★★★★ 5/5

Program Length

★★★★☆ 4/5

Results

★★★★★ 5/5

Fees

★★★★☆ 4/5

4. Accredited Debt Relief

If high savings aren’t as important to you as being debt-free as quickly as possible, get a free consultation with Accredited Debt Relief. As long as your debt is unsecured, this company should be able to help. Full Review

  • Free consultation
  • Working with the majority of financial institutions
  • Some programs as short as 12 months
VISIT SITE

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If high savings aren’t as important to you as being debt-free as quickly as possible, get a free consultation with Accredited Debt Relief. As long as your debt is unsecured, this company should be able to help. Full Review

Requirements

★★★★☆ 4/5

Program Length

★★★★☆ 4/5

Results

★★★☆☆ 3/5

Fees

★★★★★ 5/5

5. American Debt Enders

Debt relief by itself may not be enough for some. If you feel the need to get financial education and gain knowledge of financial management, go with American Debt Enders’ complete solution. Full Review

  • Large variety of unsecured debts covered
  • High reduction rates
  • Low minimum debt required
VISIT SITE

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Debt relief by itself may not be enough for some. If you feel the need to get financial education and gain knowledge of financial management, go with American Debt Enders’ complete solution. Full Review

Requirements

★★★★★ 5/5

Program Length

★★★★☆ 4/5

Results

★★★★☆ 4/5

Fees

★★★☆☆ 3/5

6. Freedom Debt Relief

If you have a business debt that needs to be settled, you’ll hardly find anyone better than Freedom Debt Relief to take care of it. In the end, your debts could be lowered by as much as 50%. Full Review

  • Very high savings possible
  • Certain business debts included
  • Deposit into an FDIC-insured savings account
VISIT SITE

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If you have a business debt that needs to be settled, you’ll hardly find anyone better than Freedom Debt Relief to take care of it. In the end, your debts could be lowered by as much as 50%. Full Review

Requirements

★★★★★ 5/5

Program Length

★★★★☆ 4/5

Results

★★★★★ 5/5

Fees

★★★★★ 5/5

7. Guardian Debt Relief

Need a company to help you settle a debt, but prefer having a fixed fee? Guardian Debt Relief is the perfect solution. Enjoy a free debt analysis and a simple process with a fixed fee of 20%. Full Review

  • Fixed fee
  • Large percentage of the debt reduced
  • Process is very easy
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Need a company to help you settle a debt, but prefer having a fixed fee? Guardian Debt Relief is the perfect solution. Enjoy a free debt analysis and a simple process with a fixed fee of 20%. Full Review

Requirements

★★★★☆ 4/5

Program Length

★★★★☆ 4/5

Results

★★★★★ 5/5

Fees

★★★★★ 5/5

How We Created This List – Our Methodology

There are many top debt settlement companies out there, so narrowing down our choices was quite a challenge. Here’s everything we considered before deciding to feature a certain company:

  • Requirements

Top debt relief companies on our list offer enough variety to fit everyone’s needs, while their other requirements (if existing) are quite reasonable.

  • Results

We took a look at what the companies claim regarding their results so far and consulted customer reviews.

  • Fees

All companies we went with either have fees standard for this industry or lower ones.

  • Company reputation

Besides looking at customer reviews to determine the success rate of debt negotiation services according to customer satisfaction.

Detailed Reviews

CuraDebt
CuraDebt

Best for Tax Debts

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  • Certain secured debts are covered
  • Business debts covered
  • Debts lowered by 50%
  • Process can be confusing for some
  • Need a debt of at least $10,000

What if we told you that you can not only lower your debt, but get your debt collectors to pay you money instead? With CuraDebt’s unique process, it’s possible. CuraDebt is IAPDA-certified and a member of the AFCC, so you know it’s the real deal.

As one of the top rated debt relief companies, it works with FDCPA and TCPA violation processes in order to pinpoint all violations committed by the creditors. If they do find them, you can choose to pursue them further. If not, you can still opt for debt settlement, get a free savings estimate, and see if you qualify in just one minute. The types of debts covered are:

  • Credit cards
  • Medical bills
  • Personal loans and lines of credit
  • Business debts
  • IRS debt and back taxes
  • Collections and repossessions

Not only is the company among the best tax debt relief companies, it also covers some secured debts. Your debts will likely be cut by around 50%, while some who pursued violations got five figure payments and 100% debt relief. To qualify, you need a debt of at least $10,000, and once your debt has been settled, you’ll pay up to 20% of the total debt enrolled. On average, the program will last three years.

While the process can be confusing for some customers, the agents and customer service are very willing (and able) to help you throughout the process.

Minimum Debt $10,000
Fees Up to 20% of total debt enrolled
Average Program Length 3 years
Average Results Debts cut by around 50%
National Debt Relief
National Debt Relief

https://www.review42.com/national-debt-relief/out

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  • Up to 50% debt reduction
  • IAPDA and BBB certifications
  • Funds deposited in an FDIC insured trust account
  • Average programs can last up to four years
  • You need to be months late on your payments

This BBB-accredited company is among the rare ones which can help you reduce debt coming from payday loans. Its team of IAPDA-certified arbitrators negotiates with your creditors, then uses the money you deposited to Global Client Solutions to pay off the remaining debt. This dedicated account is FDIC insured.

Beside payday loans, National Debt Relief can help with debt cancellation of plenty other unsecured debt, such as:

  • Credit card debt
  • Private student loans
  • Standard unsecured bank loans
  • Store credit

One of the best debt relief programs can result in savings between 30% and 50%, and that’s after all the fees have been included. If you have a minimum debt of $7,500 and are months late on your payments, you’re eligible for National Debt Relief’s services. Once your debt has been settled, depending on factors such as the state of residency, you’ll pay fees of 15%-25% of total debt enrolled. For an industry-standard price, you can be debt-free in just two years.

Other than great results, National Debt Relief is also praised for its extremely helpful agents which is yet another feature that placed it on our list of best debt management companies.

Minimum Debt $7,500
Fees 15%-25% of the total debt enrolled
Average Program Length 24-48 months
Average Results 30%-50% saved on debts (fees included)
  • Huge savings possible
  • Low fees
  • No minimum debt required
  • Many common causes of debt aren’t covered
  • Additional financial resources may be needed for you to qualify

With no minimum debt requirement, this BBB-accredited company is happy to help you with debt relief even if most other companies won’t, especially if you have additional financial resources at hand.

Not only does it work with virtually any amount of debt, New Era Debt Solutions covers some specific types of debt such as:

  • Personal lines of credit
  • Signature loans
  • Private loans in default
  • Old repossessions
  • Old judgments
  • Credit card debt
  • Department store card debt

The average savings you can expect are an astounding 56.27%, and fees of up to 20% are fairly low compared to most competitors. And while there’s no minimum debt requirement, be aware that the credit card relief program will likely only be available to you with debt of at least $750. If it’s lower than that, chances are you won’t be able to save money by negotiating anyway. However, once your debt has been negotiated, you’re likely to be free of it in up to three years.

If you opt for New Era Debt Solutions, expect very helpful agents that are able to provide you with all the information you need.

Minimum Debt No requirement
Fees 16%-20% of total debt enrolled
Average Program Length 3 years
Average Results Savings of 56.27%
Accredited Debt Relief
Accredited Debt Relief

Best for Short Programs

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  • Some programs as short as 12 months
  • Free consultation
  • Working with the majority of financial institutions
  • Not clear if all types of unsecured debts are covered
  • Savings not as high as some competitors’

By working with the majority of banks, credit unions, credit card providers, and even private student loan providers, Accredited Debt Relief can help you with plenty of debts. You’ll get a free consultation, and could be able to finish your program in as little as a year. With this BBB-accredited member of AFCC, you know you’re in safe hands.

This loan settlement company says it covers unsecured debts from credit cards to medical bills, though it doesn’t name them precisely. As long as you have an unsecured debt of at least $10,000, you can expect savings of 20% to 30%. Once the debt has been settled, you’ll pay fees between 15% and 25%. And while certain programs can be as short as 12 months, on average, they last between two and four years.

The main thing customers mention when it comes to Accredited Debt Relief is the agents’ sensitivity to their customers’ needs.

Minimum Debt $10,000
Fees 15%-25% of the total debt enrolled
Average Program Length 2 to 4 years
Average Results Savings of 20%-30% of the enrolled debt
American Debt Enders
American Debt Enders

Best Debt Relief Education

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  • Low minimum debt required
  • Large variety of unsecured debts covered
  • High reduction rates
  • Fees not transparent
  • Average program duration somewhat long

If you want not only to be debt-free, but to gain financial education and independence in the process, American Debt Enders is the right company for you. Described as a “free credit card counseling referral company”, it’s among the debt settlement agencies with the most complete answer to the debt crisis.

If you have any unsecured debt apart from student loans, IRS issues, and payday loans, American Debt Enders will most likely be able to help.

You can have a debt of “only” $5,000, but as long as you’re unable to meet your monthly payments, you’re eligible for this service. In most successful cases, customers only pay 55% of what they initially owe, with programs ending in up to three years. And while plenty of reviews of debt relief services feature this company – and rightfully so! – it does have one flaw. Its fees are not transparent, as all the website says is that they will be disclosed during the consultation.

This company that can provide you with both debt relief and financial education does so with the help of friendly agents who can always point you in the right direction.

Minimum Debt $5,000
Fees Not disclosed
Average Program Length 3 years
Average Results Recent debts reduced as much as 45%
Freedom Debt Relief
Freedom Debt Relief

Best for Business Debts

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  • Deposit into an FDIC-insured savings account
  • Very high savings possible
  • Certain business debts included
  • Process can be confusing for some
  • Relatively small range of debts covered

One of the founding members of AFCC can help you with several types of unsecured debts, and even with certain business debts. The latter is not common even among the top-rated debt relief companies, so if you have a business debt waiting to be solved, it’s a good idea to contact this company.

Once you have enough deposit in your FDIC-insured savings account, Freedom Debt Relief can start paying off the debt collectors. That is, if you have an unsecured debt resulting from:

  • Credit cards
  • Medical bills
  • Department store cards

As mentioned, certain business debts can also be negotiated. If you let Freedom Debt Relief take care of your debt, you could end up paying as little as 50% of what you initially owed. All you need in order to qualify is a debt of at least $7,500, and in the span of two to four years, you should be debt-free. As is standard with the best debt relief programs, the fees will be between 15% and 25%.

And while the company’s main selling point is its ability to lower debt quite a bit, another thing customers love is getting consistent answers no matter which agent they talk to.

Minimum Debt $7,500
Fees 15%-25% of total debt enrolled
Average Program Length 24-48 months
Average Results Settling debt for 50% of the original amount
Guardian Debt Relief
Guardian Debt Relief

Best Fixed Fee Debt Relief

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  • Process is very easy
  • Fixed fee
  • Large percentage of the debt reduced
  • Unclear minimum debt
  • Some issues with pausing/stopping payments

With Guardian Debt Relief, you can get a debt specialist to determine your eligibility and even receive free debt analysis. Once you have enough money in your FDIC-insured account at Global Client Solutions, you can start repaying most unsecured debt. The company is also BBB, AFCC, and IAPDA-certified.

Beside personal loan debt relief, the company covers unsecured debt such as:

  • Credit card debt
  • Medical bills
  • Private student loans

Website isn’t perfectly consistent, so it mentions both $10,000 and $7,500 as the minimum debt required. Either way, feel free to contact Guardian Debt Relief so they can determine your eligibility for free. Recently, the company’s managed to reduce debts for as much as 55%, while Guardian’s average debt settlement programs last between two and four years. Once your debt has been settled, you’ll be paying a fixed fee of 20% of the total debt enrolled.

Though there have been some issues recently when it comes to pausing and canceling payments, in general, customers love that the process is extremely easy.

Minimum Debt $7,500 – $10,000
Fees 20% of the total debt enrolled
Average Program Length 24-48 months
Average Results Recently reduced debts as much as 55%

Debt Relief Companies – Buyer’s Guide

Choosing the best debt management company that’s right for you can be nerve-racking. You want a company that’s reliable and can help you save as much money as possible.

How to Choose a Debt Relief Company

In order to make the best choice, you need to pay attention to the type of debt, the results the company claims to achieve, and a lot more:

Types of debt relief

If you’re looking for a credit card relief program, you’ll find a lot of choices. But for some other debts, such as business loans or medical bill debts, you may have to dig deeper. Either way, make sure the company you’re eyeing offers the types of services you need them for.

Savings

Some companies claim that they can help you save more, others – less. The best thing to do is to check the most recent information on their settlements, as well as customer reviews, in order to get an estimate on what you can expect. Finally, when you can, speak to the representative and ask for a free quote.

States the company operates in

Not all of the high-quality debt relief companies practice their business in all states. Make sure not to waste your precious time on a company that doesn’t do business in your state of residence.

Requirements

The minimum debt you need to have in order to qualify differs from company to company. Ensure your debt qualifies you for a certain company before you opt for it.

Fees

Fees required by different debt relief companies also differ, so be sure to know what you can expect before making the final choice.

Avoid scams

Since the Federal Trade Commission (FTC) made it illegal for this type of debt resolution companies to take fees upfront, beware of any company which does so. Likewise, beware of those promising fixed savings before contacting your creditors or doing an individual debt analysis.

How Do Debt Relief Companies Help?

Debt relief companies are for-profit organizations that work with your creditors in order to find the best solution for both parties. By negotiating with them, these companies help lower your debt quite a bit. In the meantime, you start depositing money into an account controlled by you, which serves as a middleman between the debt relief company and your creditors.

In most cases, it’s a win-win situation. It’s in your creditors’ best interest to get as much money from you as they can. And if it’s clear you don’t have enough money to pay the existing debt, they usually end up settling for far less. Once the best debt settlement companies have managed to settle your debts, they will take a percentage for their services. Full disclaimer: while they can help with credit bubbles, housing bubbles may not be so easy to cover, as these companies tend not to negotiate secured debts such as a mortgage.

Advantages and Disadvantages of Debt Relief

Solving your debt with anything else but a complete payoff comes with its own advantages and disadvantages. When it comes to debt relief, there are a couple of pros and cons to keep in mind.

Pros:

  • Lower debt. Different companies achieve different results when it comes to savings, and creditors vary in their willingness to lower your debt, so there’s no way to determine an average amount of how much lower your debt will be. However, these types of debt solution companies make sure it is lower by the time they’re done negotiating.
  • Pay off debt faster. Not only will the debt be lower, but the programs of the best debt reduction companies were built specifically to help you pay as little as possible, as quickly as possible. If you find a good debt relief company, you’ll be able to pay off your debt a lot more quickly than if you were trying on your own.
  • Remain stress-free. Since any top debt settlement company will do everything in your place, you don’t have to worry about calling up creditors yourself and asking them to lower your debt. The only thing you should focus on is depositing and paying it off.

Cons:

  • Credit score damage. You’ll feel the negative effects of debt settlement immediately. Your FICO credit score will likely suffer 100 points right away, but the detrimental effects will be smaller and smaller as time goes by. Bad as it may sound, in most cases it’s a necessary evil.
  • Potential lawsuits. Even with legitimate debt relief companies, some angry calls and even lawsuits from creditors may follow. However, it usually stops at calls, as it’s in your creditors’ best interest to get at least some money from you and not waste it on lawyers.
  • Fees. Though your overall debt will be lower, the company will require a percentage for all the hard work it’s been doing.

Debt Relief Alternatives

If you find the cons aren’t worth the pros, there are several alternatives to top debt settlement companies which may be worth your time. The most common ones are:

  • Credit-counseling programs. If you believe you can deal with the debt on your own, given enough information and financial education, give credit counseling a go. You’ll learn how to manage your finances, and if your debt isn’t that high, it may be enough to solve the issue.
  • Debt consolidation. In case you’re having trouble with multiple debts, getting a loan from a debt consolidation company may be a better solution for you than negotiating multiple debts. The best debt consolidation companies will consolidate these debts into one single monthly payment with a lower interest rate.
  • Credit card balance transfer. If your debt is relatively small, this could be a good solution. Since most credit cards tend to have a 0% intro APR, you can use that to pause the accumulation of interest on your old one.
  • Bankruptcy. Finally, there’s the issue of debt relief vs bankruptcy. While most try to avoid it, in cases when your debt is more than half your income, and/or it would take you more than five years to pay it off, declaring strategic bankruptcy may be the necessary solution you need.

Best Debt Relief Companies in 2021 at a Glance

Key Takeouts

The highest quality debt relief services could do you a lot of good if you’re in quite a bit of debt and aren’t sure what to do. It’s a solution that allows you to pay off the debt yourself, but not in full. By negotiating with your creditors, these companies reduce your debt to a point where you can start paying it off by depositing it into a dedicated account. Add to it the fact you’ll not be paying any fees until the debt has been settled, and you’ll see that finding the right debt relief services could be just the kind of solution you need.

FAQ

Do debt relief companies really work?

The credible ones do. While they can’t guarantee you an exact savings amount, they have vast experience in talking your creditors into lowering your debts. Once all’s been settled, all that’s left to do is to pay them a fee.

Do debt relief companies ruin your credit?

It will most likely not ruin your credit entirely, but do expect negative credit reporting. However, once free of debt, you can always repair it – alone, or with the help of credit repair companies.

How does debt relief affect your credit?

At first, negotiating your debt successfully will likely strip your FICO credit score by as much as 100 points. Afterwards, the effects will be felt less and less, but you can expect them to last for the next seven years.

Which is the best debt relief program?

That depends on many things. The best debt relief companies for unsecured credit card debt aren’t the same ones that are perfect for medical bill debts. Other factors, such as the size of your debt, how many creditors there are, and which state you live in also play a role in which company will be best for you.