Best Debt Settlement Companies

Freedom Debt Relief (FDR) has been in the debt settlement industry for over 15 years and has resolved over $15 billion of debt. Additionally, it is a founding member of the American Association for Debt Resolution (AFCC). The company has an impressive number of experts, too — over 550 certified debt consultants and over 200 debt negotiators.

Freedom Debt Relief will negotiate a minimum of $7,500 in unsecured debts, though that amount varies by state. Unlike some of the other debt settlement companies, Freedom Debt Relief can sometimes help settle business and private student loan debt. This is evaluated on a case-by-case basis.

There is an online dashboard that allows you to track your progress at any time. Plus, you can contact customer service seven days a week.

The vast majority of ConsumerAffairs reviewers report positive experiences with Freedom Debt Relief, with many noting that the company helped them significantly reduce the debt amounts they owed.

“A friend referred me to FDR and I called them. They asked if I was okay with $348 per month and I agreed,” said Ellen from Michigan. “Within a few months, they had the first credit card settled for 53% less than what I owed. A few months later, they were able to settle with the second credit card company for 50% less.”

With FDR, you pay no fees until after you’ve authorized a settlement and have made your first payment as part of that settlement. The fees range from 15% to 25% of your enrolled debt, and your specific fee percentage is determined by the state you live in.

With over 30 years of experience in financial services, JG Wentworth Debt helps you settle your debt for less than you owe. Alongside debt relief, JG Wentworth also offers services such as debt consolidation loans, personal loans and structured settlement options.

Debt relief programs are available for credit card debt and other unsecured debt sources. It cannot help with mortgage debt, student loans and other secured debts. It also offers a free debt repayment calculator on its website, providing you with an estimate of how long it will take to repay your debt based on your unique financial circumstances.

Many reviewers were impressed with how much JG Wentworth Debt was able to save them as they pursued a debt-free lifestyle. Wandell from Michigan was able to save $4,000 through the debt relief program.

She said, “And I'm going to be completely debt free in 2 years saving more than $10,000 dollars and 20 years of interest payments.”

JG Wentworth Debt operates on a fee-based model for its debt relief program. The company does not charge any upfront fees. Expect to pay 18% to 25% of your enrolled debt once the debt has been settled.

Accredited Debt Relief, a DBA of Beyond Finance, LLC, operates in 31 states plus Washington, D.C. It works with clients who have over $10,000 of unsecured debts, like credit card debts, medical bills, some personal loans and payday loans; it cannot help with car loans, mortgages or student loan debt.

While Accredited Debt Relief does not offer 24/7 customer service, you can contact a representative seven days a week by either phone or email. The company is also transparent about its terms of service, allowing you to read them online prior to enrolling, and there is an extensive FAQ page.

Many of our reviewers were happy with Accredited Debt Relief’s customer service, with many praising the customer service representatives for being helpful, knowledgeable and professional.

“From the 1st phone call I was treated with respect and informed on every step that would be involved. Great company and even better customer service,” said Mandi from Texas. “I feel like a weight has been lifted off of me and I can breathe again knowing that I have a team of talented and dedicated professionals in my corner.”

To enroll in the program, you’ll need at least $10,000 of debt, and the company states the average client can reduce their debt load to 55%. While the company does not charge money upfront, expect to pay between 15% and 25% of your debt balances at the time of enrollment, depending on your location. This is similar to many of its competitors.

Accredited Debt Relief says that the program can be canceled at any time without penalty and has a money-back guarantee. However, the company’s website is not transparent about how to cancel and if there are any exclusions to this guarantee.

National Debt Relief has helped over 400,000 individuals settle unsecured debt since 2009, including some private student loan and business debt. It can also help with repossessions, collections and medical bills.

Most clients will see debt relief in 24 to 48 months if they stick with the program. National Debt Relief claims to have established relationships with over 10,000 creditors. Eligible candidates should have at least $10,000 in unsecured debt.

National Debt Relief hosts free calculators on its site to help you manage your money, and it also hosts a large library of educational personal finance resources.

A number of ConsumerAffairs reviewers appreciated that National Debt Relief’s debt coaches were sympathetic, helpful and uplifting.

Veronica from Mississippi said that the National Debt Relief employee she connected with “was very honest and upfront with my situation and found me a plan where I could pay back my debtors in a time frame and with a payment plan I could afford and be able to have money for groceries each month.”

You can request a free consultation online. The company is transparent about how much money you can save. There are no upfront costs, and there’s no cancellation fee. You pay no fees until your debts are settled.

The average client can save 50%, but after National Debt Relief’s fee, that amounts to a savings of about 30%.

Based in San Diego, California, Pacific Debt Relief has settled over $300 million in debt. To qualify, customers must have at least $10,000 of unsecured debt. Payday loan debts and business debts are eligible. It can also settle some student loan debts. Its fee can be as low as 15% of your enrolled debt.

Pacific Debt Relief is available in 29 states and in Washington, D.C. On its website, you can find specific debt collection information and laws for each state.

Pacific Debt Relief is clear that debt settlement is not the right move for everyone and that enrolling in its program can hurt your credit score, send debt accounts into collections and have tax ramifications.

Many ConsumerAffairs reviewers found Pacific Debt Relief’s employees to be accessible, knowledgeable and reassuring.

Ls in New York loved working with Pacific Debt Relief’s director of client experience and characterized her as being “dedicated and professional, with so much insightful information. … Her communication is precise, consistent and personable!”

Pacific Debt Relief charges no upfront fees for its services, and you only pay a fee once your debt is settled. We chose it for the company with the lowest fees because fees can be as low as 15%, depending on how much debt you enroll and what state you live in.

United Debt Settlement can offer debt relief services for a wide variety of debt, including some credit card debt, auto loans, medical bills and business debt. It also offers different debt management services.

With United Debt Settlement, you can also enroll in a debt management plan (DMP) or apply for a debt consolidation loan. Unlike debt relief, these options do not reduce your overall debt load, but both can make repaying debt more manageable with less impact on your credit score.

Several customers appreciated how helpful United Debt Settlement was in their debt journey. Scott from Kentucky said, “They took two cards and consolidated them and set me up on a monthly payment for three years. That reduced the payment at least by $350 a month.”

United Debt Settlement does not charge an upfront fee for debt settlement services, but you can expect to pay around a 25% fee once your debt is settled. It is not clear on its website which other services have a cost.