What is the best debt relief company to work with? (2024)

What is the best debt relief company to work with?

But the harsh truth lies somewhere short of "totally erased" and "no consequences." To be clear, debt forgiveness does exist, and it's possible to settle your debt for less than what you owe. But to get it totally erased is rare, and it usually requires an extreme measure, such as bankruptcy.

What company is best for debt relief?

Best debt relief companies
  • Best for customer satisfaction: Americor.
  • Best for debt support: Accredited Debt Relief.
  • Best for affordability: New Era Debt Solutions.
  • Best for large debts: National Debt Relief.
  • Best for credit card debt: Freedom Debt Relief.
  • Best longstanding company: Pacific Debt Relief.

Who is the number one credit card debt relief company in the nation?

National Debt Relief

Who is the best debt company?

The Top 20 Debt Management Companies Are…
  • Advice. With over 20,000 volunteers from a variety of backgrounds, the well-known advisory service that helps the general public deal with financial and housing issues. ...
  • Money Helper. ...
  • Shelter. ...
  • National Debt Line. ...
  • Business Debtline. ...
  • The Money Charity. ...
  • Debt Advice Foundation. ...
  • Step Change.

What to look for in a debt relief company?

What Makes the Best Debt Settlement Companies Different?
  1. Excellent turnaround time. Although it is quite rare, some debt settlement companies can take up to 3-5 years to come to a close. ...
  2. No upfront fees. ...
  3. No “add-on” fees. ...
  4. End-to-end service. ...
  5. Experienced financial team.

Is there really a debt forgiveness program?

But the harsh truth lies somewhere short of "totally erased" and "no consequences." To be clear, debt forgiveness does exist, and it's possible to settle your debt for less than what you owe. But to get it totally erased is rare, and it usually requires an extreme measure, such as bankruptcy.

Does debt relief hurt your credit?

Debt relief services may have a negative impact on your credit score, but that impact may not be as big as you think — and in some cases, it can help your credit. How these services impact your credit depends on the debt relief option you choose.

Is Freedom Debt Relief worth it?

On Trustpilot, Freedom Debt Relief has a 4.5-star rating. The majority of reviews are largely positive, though a few people have registered complaints about the fees Freedom Debt Relief charges. Freedom Debt Relief is accredited by the Better Business Bureau and has an A+ rating.

Is national debt relief worth it?

Many clients have left positive comments about National Debt Relief's helpfulness and overall client service in guiding them through the debt negotiation process. National Debt Relief has an A+ rating with the Better Business Bureau and is BBB-accredited. The company earns a 4.58-star rating based on client reviews.

How to pay off $10,000 credit card debt?

7 ways to pay off $10,000 in credit card debt
  1. Opt for debt relief. One powerful approach to managing and reducing your credit card debt is with the help of debt relief companies. ...
  2. Use the snowball or avalanche method. ...
  3. Find ways to increase your income. ...
  4. Cut unnecessary expenses. ...
  5. Seek credit counseling. ...
  6. Use financial windfalls.
Feb 15, 2024

What is the number one debt relief program?

Best overall: Accredited Debt Relief

Accredited Debt Relief is our pick for the best overall debt relief company for its stellar reputation and ratings, experience and its focus on providing personalized options for its clients.

What's the worst a debt collector can do?

Here is a list of examples of how debt collectors can violate FDCPA rules:
  • Use of threat, violence or other criminal means to harm a person, reputation or property.
  • Use of obscene or profane language.
  • False representation that the debt collector represents a state or federal government.

What is the National Debt Relief Hardship Program?

Founded in 2008, National Debt Relief is a debt settlement company that negotiates the reduction of unsecured debt. If you have over $7,500 in unsecured debt, NDR may be able to cut that amount in half. The deeper you sink into debt the harder it is to reclaim a sense of financial stability.

Can I still use my credit card after debt settlement?

Paying off your credit card, whether it's with a debt consolidation loan or not, does not actually cancel the card. While it does bring your balance down to zero, the card will still be open and active.

How do I know if a debt relief company is legit?

They Ask for Fees Upfront

This is the most obvious sign of a debt relief scam. If the person/company offers to help get rid of your debt but first you have to pay them a fee, they're probably lying to you. Cut off contact and file a complaint with us.

How long does debt relief stay on your credit report?

As with most other negative credit report entries, settled accounts stay on your credit reports for seven years.

What are the dangers of debt forgiveness?

Warning: There could be tax consequences for debt forgiveness. If a portion of your debt is forgiven by the creditor, it could be counted as taxable income on your federal income taxes. You may want to consult a tax advisor or tax attorney to learn how forgiven debt affects your federal income tax.

Can I get a government loan to pay off debt?

While there are no government debt relief grants, there is free money to pay other bills, which should lead to paying off debt because it frees up funds. The biggest grant the government offers may be housing vouchers for those who qualify.

How to pay 15k in credit card debt?

How to Pay Off $15,000 in Credit Card Debt
  1. Create a Budget. ...
  2. Debt Management Program. ...
  3. DIY (Do It Yourself) Payment Plans. ...
  4. Debt Consolidation Loan. ...
  5. Consider a Balance Transfer. ...
  6. Debt Settlement. ...
  7. Lifestyle Changes to Pay Off Credit Card Debt. ...
  8. Consider Professional Debt Relief Help.
Feb 9, 2024

Can I buy a house after debt settlement?

How Long After a Debt Settlement Can You Buy a House? There's no set timeline for how long it takes to get a mortgage after debt settlement. Your ability to qualify for a mortgage will depend on how well you meet the lender's requirements on the issues raised above (credit score, DTI, employment and down payment).

How long after debt settlement can I buy a car?

While the effects of bankruptcy hang around for 7 to 10 years on your credit report, that's not how long you must wait to borrow money. The impact of the penalty decreases each year, and it's even possible to get a car loan within six months of your discharge.

What's the difference between debt relief and debt consolidation?

Debt relief is a term used to describe a variety of solutions available for debt resolution, including debt consolidation. Debt consolidation is a specific method of debt relief that involves merging multiple debts into one large balance with a single monthly payment.

Is it good to file for debt relief?

And, while certain types of debt relief plans can hurt your credit initially, these services may help improve your score over time if you adhere to the terms of the agreement. Even debt settlement, which can cause a bigger credit score hit initially, typically only affects your report for about two years.

How much does it cost to use a debt relief program?

Debt settlement costs vary from one company to another, but it's common to pay 15% to 25% of the debt the company negotiates on your behalf. The right debt relief company might be able to negotiate with your creditors and convince them to accept less than you owe—typically in a lump sum—to satisfy your debt.

Do debt relief programs charge a fee?

These fees will typically range from 15% to 25% of the total enrolled debt — but can also vary based on the company you choose to work with. It's crucial to weigh the potential savings against the fees incurred — and consider the potential impact on your credit score — before making a decision.


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