Debt can be a valuable tool when used wisely. A mortgage can help you move your family into the home of your dreams and an auto loan can help you secure reliable transportation for work. Even credit cards can be a plus for your finances if you use them for the perks and rewards without letting them take over your life. Using a debt relief company can help you manage your debt and avoid pesky interest fees.
The best debt relief companies provide a path out of debt that could result in you paying less than what you owe. The strategy they use is also frequently referred to as “debt settlement” for this reason. These top debt relief companies have reasonable fees and positive overall reviews.
The 6 Best Debt Relief Companies of 2022
Best Overall: National Debt Relief
Best for Debt Settlement: Accredited Debt Relief
Best for High-Interest Credit Card Debt: DMB Financial
Best for Customer Satisfaction: New Era Debt Solutions
Best for Tax Debt Relief: CuraDebt
Best Interactive Program: Freedom Debt Relief
National Debt Relief
We chose National Debt Relief as the best overall in our ranking based on its track record for results, overall transparency, and a money-back guarantee. National Debt Relief has several examples of massive reductions of credit card balances on their website, showcasing their abilities.Pros & ConsPros
More than 10 years in business
Proven results settling debts for less than consumers owe
No upfront fees
$7,500 + in qualifying debts
Does not handle certain types of debts like mortgages
National Debt Relief was founded in 2009 with the main mission of helping consumers get out of debt through a reliable debt settlement program. This firm is incredibly transparent about its process and results—they share examples of what they’ve done for past clients on their website: $15,000 reduced to $3,000 in debt, $22,500 reduced to $8,000, and $11,000 reduced to $2,000 in debt.
National Debt Relief helps consumers begin the process by offering a free consultation with one of its debt counselors. From there, you will have the option to explain your situation and talk over potential solutions, including using National Debt Relief for debt settlement.
Like other debt settlement programs, this company has you set aside a specific amount of money in a separate account each month, which you will later use to settle your debts for less than what you owe. In the meantime, National Debt Relief helps coordinate your efforts and negotiates with your creditors on your behalf.
You won’t pay any upfront fees to use this service, although consumers normally pay between 18% to 25% of the total debt enrolled in the program by the time their debts are settled. Generally speaking, programs from this firm last for 24 to 48 months.
Accredited Debt Relief
Accredited Debt Relief is the best settlement option based on its proven results and success on this type of debt relief with high-interest credit card debt over $10,000.Pros & ConsPros
Receive a free consultation from a Certified Debt Specialist
Settle your debts for as little as 50%
Plans designed for at least $10,000 of debt
Lack of transparency in terms of pricing
Accredited Debt Relief has been in business since 2011 with the main goal of providing debt relief options to families who need them. This company boasts an array of results on its website, with plenty of former customers settling their debts for as little as 30% of what they originally owed. Accredited Debt Relief is accredited by the AFCC.
Like other debt relief companies, Accredited Debt Relief focuses its efforts on debt settlement. It starts potential clients with a free consultation with a certified debt specialist who can help them talk over their situation and options. If they are deemed a good candidate for debt settlement, Accredited Debt Relief helps them begin saving money in a separate account and stop using credit cards.
From there, the firm negotiates with creditors on your behalf, which can lead to a debt settlement that is considerably less than the amounts owed. Accredited Debt Relief also offers a money-back guarantee that lets you cancel your program at any time without a penalty.
We chose DMB Financial as the best for high-interest credit card debt based on its dedication to helping consumers consolidate their debts into a new, lower payment, which can be especially helpful when it comes to growing debts with high interest rates.Pros & ConsPros
Consolidate high-interest debts
Settle your debts for less than what you owe
No specific eligibility requirements for their programs
Lack of pricing listed on their website
Founded in 2003, DMB Financial has a long history of helping clients establish debt settlement programs. This company reports real-time results for its clients on its website, many of which show clients settling debts for many thousands of dollars less than what they owed. DMB Financial is also a member of the American Fair Credit Council, which includes a select number of debt settlement companies that commit to the highest standards for their clients.
DMB Financial says that, through its process, it’s possible for you to become debt-free in 36 to 48 months. You can call the company for a free initial consultation with a program consultant who can help you talk over your situation and goals. From there, a program will be created for you, during which you will make monthly deposits into a separate account. DMB Financial will then negotiate with your creditors for you to pay less than what you owe on your debts.
While DMB Financial focuses on all unsecured debts, it claims to be able to help consumers the most with high-interest credit card debt. With one of its programs, you can consolidate all your bills into a single monthly payment you make into a savings account each month. This can be a lifesaver when your interest rates and bills are just too high and continue to grow as you make only minimum monthly payments.
New Era Debt Solutions
New Era Debt Solutions maintains a staff of attorneys ensuring that everything is done according to state and federal law giving consumers confidence in the job done.Pros & ConsPros
No upfront fees or monthly administration charges
Attorneys on staff
All services handled in-house
Free consultation with a counselor
What We Don’t Like
Not available in certain states and cities
New Era Debt Solutions has been in business since 1999 and has helped clients settle over $250 million in debt. Clients will not pay any upfront charges for its services. Its plans also come without any monthly administration fees, and performance-based fees are only charged when you see results.
Like other debt settlement companies, New Era Debt Solutions has its clients save money for debt settlement in a separate account. In the meantime, they negotiate with your creditors to help you pay less than what you owe.
According to the company, its clients settle their debts and become debt-free after an average of fewer than 28 months. They claim to be able to expunge 50%-80% of debt owed. The company claims to lower both the balance and interest rates of debts.
Other benefits of New Era Debt Solutions include the fact it has attorneys on staff and an account management team is also assigned to each client from the start. The company also handles all of its work in-house and never outsources tasks to other unproven firms or contractors.
While other debt relief companies shy away from tax debts, CuraDebt offers special assistance for consumers who owe back taxes. This program is offered on top of its traditional debt settlement programs that can help consumers become debt-free while paying less than what they owe.Pros & ConsPros
Debt settlement programs and assistance with back taxes
In-person consultations \ only available in Hollywood, Florida
CuraDebt has been in business since 2000, and it offers a free consultation for consumers interested in its debt relief programs. Like other debt relief companies, CuraDebt also displays an array of debt settlement letters on its website, many of which show consumers who settled debts for as little as 20% of what they owed. Additionally, the company reports that its customers typically pay approximately 20% of their enrolled debt amount in fees over time. There are no monthly administration fees.
Where many other debt relief companies don’t touch outstanding tax debts, CuraDebt offers specific assistance for consumers who owe back taxes and need help coming up with a plan while they manage other debts they have. This makes CuraDebt unusual in that it can help consumers who have multiple types of debt including taxes, credit cards, and personal loans.
Specifically, CuraDebt’s assistance for tax debt relief includes transparent, flat-fee pricing and help to settle and to negotiate on IRS and state tax debts. It even has federal and state tax experts on staff, and this assistance is available in all 50 states.
Freedom Debt Relief
Why We Chose It
We chose Freedom Debt Relief due to the fact it offers an interactive client dashboard that lets clients track their progress.Pros & ConsPros
Free consultation and no upfront fees
Client dashboard lets you track your progress
Higher settlements than competition
Freedom Debt Relief has been in business since 2002 and currently employs over 2,000 highly trained debt experts and professionals. It starts clients off by offering a free consultation with a certified debt consultant who can help them talk over their debts and what they hope to accomplish. From there, they craft a personalized debt settlement plan that asks you to save a specific amount in a separate account to use for debt settlement later on.
One feature that helps Freedom Debt Relief stand out is its interactive process. Once you sign up for a debt settlement program and begin making deposits, you’ll qualify for a client dashboard that you can use to stay up to date on your program. This dashboard lets you see how much you have saved, how much you owe, and any progress Freedom Debt Relief has made negotiating debts on your behalf.
Freedom Debt Relief says its clients don’t pay any fees until work is done on their behalf. By the end of their debt settlement programs, customers pay a fee equal to a percentage of the amount of debt they enrolled in the program. While Freedom Debt Relief cannot guarantee it will settle your debts, it claims that many of its clients wind up paying significantly less than the amounts they once owed.
All of the best debt relief companies on our list are reputable, offer various services, and have overall good reviews with helping customers manage and reduce their debt. Some provide numerous debt relief options and others charge lower fees. Overall, we recommend checking out National Debt Relief first. The company has a proven track record, a money back guarantee, and shows clear examples of debt reduction on its website.