In these high-inflation times, people often ask us which company they should choose for debt settlement, negotiation or management. Now, since we couldn’t find a list of debt settlement companies in America ranked by their reviews and ratings on trusted third-party sites like the BBB, Google Reviews, TrustPilot and others, we decided to create one. If you are looking for the best rated debt settlement provider to help you with lowering your debt or better managing your payments, this list should help you):
| Best For Over 10k Debt | New Era Debt |
| Best For Under 10k Debt | CuraDebt |
| Best Debt Lawyer | Oak View Law |
1) New Era Debt Solutions (4.91/5)
- URL: www.neweradebtsolutions.com
- Minimum Debt: $10,000
- Fees: 14% to 23%
New Era Overview & Reviews:
New Era Debt Solution is a debt settlement company headquartered in Camarillo, California. They focus on credit card debt relief and employ debt relief experts, financial professionals, attorneys and support staff. They offer debt settlement, debt negotiation and negotiation with creditors.
- BBB: A+ (4.93/5 – 65 reviews)
- Google: 4.9/5 (204 reviews)
- TrustPilot: 4.9/5 (361 reviews)
- Certifications: IAPDA
- Combined Reviews: 630
- Average Rating: 4.91/5
2) TurboDebt (4.88/5)
- URL: www.turbodebt.com
- Fees: 15% to 25%
- Minimum Debt: $10,000
TurboDebt Overview & Reviews:
TurboDebt is one of the most highly-rated debt settlement companies (as you can see below) that we have had a chance to review, combining a total of over 17,000 positive reviews. They can you decrease and pay off several types of debt, including credit card, tax, personal loans, student loans, medical bills and more. Learn more by reading our TurboDebt review.
- BBB: A+ (4.95/5 – 1,232 reviews)
- Google: 4.8/5 (4,859 reviews)
- TrustPilot: 4.9/5 (11,190 reviews)
- Certifications: AADR, BBB
- Consolidation Loans: No
- Combined Reviews: 17,281
- Average Rating: 4.88/5
3) National Debt Relief (4.72/5)
- URL: www.nationaldebtrelief.com
- Fees: 15% to 25%
- Minimum Debt: $10,000
National Debt Relief Overview & Reviews:
Similar to Turbo Debt, although they do also offer loans, which isn’t necessarily a good thing if you’re a bad financial situation, as you won’t qualify for a good rate. They also offer debt settlement, debt consolidation, credit counseling and more.
- BBB: A+ (4.75/5 – 4,548 reviews)
- Google: 4.6/5 (9,112 reviews)
- TrustPilot: 4.8/5 (31,000 reviews)
- Certifications: AADR, IAPDA
- Combined Reviews: 44,660
- Average Rating: 4.72/5
4) Freedom Debt Relief (4.59/5)
- URL: www.freedomdebtrelief.com
- Fees: 15% to 25%
- Minimum Debt: $10,000
Freedom Debt Relief Overview & Reviews:
Highly-rated debt counselling agency with a particular focus on credit card debt. They offer debt settlement, debt management plans and credit counseling.
- BBB: A+ (4.47/5 – 1,917 reviews)
- Google: 4.7/5 (509 reviews)
- TrustPilot: 4.6/5 (42,334 reviews)
- Certifications: AADR, IAPDA
- Combined Reviews: 44,760
- Average Rating: 4.59/5
5) Pacific Debt Inc. (4.78/5)
- URL: www.pacificdebt.com
- Fees: 15% to 35%
- Minimum Debt: $10,000
Freedom Debt Relief Overview & Reviews:
Pacific Debt is a debt settlement company with the ability to handle many types of debt, including medical bills, overdue utility payments, credit cards, personal loans, tax debt, payday loans, bankruptcy, and certain contracts, like gym memberships. They also offer financial education.
- BBB: A+ (4.94/5 – 1,855 reviews)
- Google: 4.6/5 (259 reviews)
- TrustPilot: 4.8/5 (1,784 reviews)
- Certifications: CDRI, IAPDA
- Combined Reviews: 3,898
- Average Rating: 4.78/5
6) Accredited Debt Relief (4.86/5)
- URL: www.accrediteddebtrelief.com
- Minimum Debt: $10,000
- Fees: 25%
Accredited Debt Relief Overview & Reviews:
Accredited Debt Relief is a highly-rated debt consolidation company that heavily advertises the ability to help customers be debt-free in 24-48 months. Unlike other agencies reviewed previously, Accredited Debt Relief does offer debt consolidation loans through their partners, and the APR’s can be quite high, up to 35.99% for those with less desirable credit scores.
- BBB: A+ (4.88/5 – 1,847 reviews)
- Google: 4.8/5 (7,148 reviews)
- TrustPilot: 4.9/5 (6,910 reviews)
- Certifications: N/A
- Combined Reviews: 15,905
- Average Rating: 4.86/5
7) Money Management International (4.79/5)
- URL: www.moneymanagement.org
- Minimum Debt: No Minimum
- Fees: $33 for set-up fees; $25 for monthly fees
MMI Overview & Reviews:
Money Management International is one of the fastest-growing debt relief companies, and have acquired many other smaller debt relief providers, such as Debt Advisors of America. They provide debt settlement at a unique monthly fee structure that is different from most of the other companies we reviewed.
- BBB: A+ (4.88/5 – 346 reviews)
- Google: 4.9/5 (502 reviews)
- TrustPilot: 4.6/5 (1,822 reviews)
- Certifications: FCAA, NFCC.
- Combined Reviews: 2,670
- Average Rating: 4.79/5
8) ClearOne Advantage (4.37/5)
- URL: www.clearoneadvantage.com
- Minimum Debt: $10,000
- Fees: 20% to 25%
ClearOne Overview & Reviews:
ClearOne Advantage is another popular and well-reviewed debt settlement company that offers free initial consultations to help you determine the best plan of attack to tackle your debt.
- BBB: A+ (4.0/5 – 544 reviews)
- Google: 4.4/5 (3,182 reviews)
- TrustPilot: 4.7/5 (8,784 reviews)
- Certifications: IAPDA
- Combined Reviews: 12,510
- Average Rating: 4.37/5
9) Century Support Services (4.76/5)
- URL: www.centuryss.com
- Minimum Debt: $10,000
- Fees: 25%
Century Support Services Overview & Reviews:
This company was founded in 2008 and has been operating for over 15 years. They serve clients nationwide although some states are excluded. Just like others reviewed in this list, they offer debt settlement, debt resolution, debt management plans and more.
- BBB: A+ (3.68/5 – 87 reviews)
- Google: 4.7/5 (898 reviews)
- TrustPilot: 4.9/5 (2,585 reviews)
- Certifications: AADR, IAPDA
- Combined Reviews: 3,570
- Average Rating: 4.76/5
10) Guardian Debt Relief (2.24/5)
- URL: www.guardiandebtrelief.com
- Minimum Debt: $7,500
- Fees: 25%
Guardian Debt Relief Overview & Reviews:
Guardian Debt Relief doesn’t have the most flattering review profile, but we included them because they are a well-known brand when it comes to debt settlement. Based in New York, they offer debt settlement, debt management, financial counseling and more.
- BBB: A+ (2.33/5 – 3 reviews)
- Google: 3.0/5 (33 reviews)
- TrustPilot: 1.4/5 (45 reviews)
- Certifications: AFCC
- Combined Reviews: 81
- Average Rating: 2.24/5
11) GreenPath Financial Wellness (4.62/5)
- URL: www.greenpath.com
- Minimum Debt: None
- Fees: N/A
GreenPath Financial Wellness Overview & Reviews:
GFW workes nationwide, and can help settle your debt with multiple creditors, including banks, credit unions, retailers, medical providers, auto finance agencies, and collection agencies.
- BBB: A+ (4.68/5 – 219 reviews)
- Google: N/A
- TrustPilot: 3.5/5 (2 reviews)
- Certifications: NFCC
- Combined Reviews: 221
- Average Rating: 4.62/5
12) CreditAssociates (4.63/5)
- URL: www.creditassociates.com
- Minimum Debt: None
- Fees: 25%
CreditAssociates Overview & Reviews:
CreditAssociates is a Dallas-baased debt settlement company that has some great reviews on TrustPilot, but not as good on the BBB. They have a similar setup as most other debt settlement providers on this page, charging 25% of your debt and no upfront fees for consultation.
- BBB: A+ (3.7/5 – 123 reviews)
- Google: 4.3/5 (2,165 reviews)
- TrustPilot: 4.9/5 (17,155 reviews)
- Certifications: AADR, IAPDA
- Combined Reviews: 19,443
- Average Rating: 4.63/5
13) DMB Financial (4.78/5)
- URL: www.dmbfinancial.com
- Minimum Debt: $10,000
- Fees: 15% to 25%
DMB Financial Overview & Reviews:
DMB Financial is a Massachusetts-based debt settlement company. DMB Financial advetises the ability to help you consolidate all of your high interest credit card balances into one lower, flat monthly program payment, which is similar to what most of the other companies on this page do.
- BBB: A (4.85/5 – 242 reviews)
- Google: 4.7/5 (933 reviews)
- TrustPilot: N/A
- Certifications: IAPDA
- Combined Reviews: 1,175
- Average Rating: 4.78/5
14) Trinity Debt Management (4.4/5)
- URL: www.trinitycredit.org
- Minimum Debt: N/A
- Fees: N/A
TDM Overview & Reviews:
Based in Ohio, Trinity Debt Management is a Christian debt management company that offers credit counseling, budgeting help, financial education, debt settlement and more. They don’t advertise their minimums and their fees.
- BBB: N/A (Profile being updated)
- Google: N/A
- TrustPilot: 4.4/5 (179 reviews)
- Certifications: N/A
- Combined Reviews: 179
- Average Rating: 4.40/5
15) Consolidated Credit Counseling Services (4.75/5)
- URL: www.consolidatedcredit.org
- Minimum Debt: N/A
- Fees: up to 25%
Consolidated Credit Overview & Reviews:
Consolidated Credit has a flat monthly fee for its debt relief program. They charge a one-time setup fee that ranges from $50-$75, and their monthly service fee is about $30. They don’t advertise any minimum debt.
- BBB: A+ (no reviews)
- Google: 4.8/5 (1,808 reviews)
- TrustPilot: 4.7/5 (9,062 reviews)
- Certifications: NFCC, FCAA, CFC
- Combined Reviews: 10,870
- Average Rating: 4.75/5
16) InCharge Debt Solutions (4.53/5)
- URL: www.incharge.org
- Minimum Debt: None
- Fees: 15% to 25%
- Combined Reviews: 2,326
- Average Rating: 4.53/5
InCharge Overview & Reviews:
Incharge is a Florida-based debt management company that offers credit counseling, debt consolidation and more. Unlike many companies reviewed on this page which require a minimum 10k debt to work with you, InCharge advertises a “no minimums”.
- BBB: A+ (3.46/5 – 13 reviews)
- Google: 4.0/5 (107 reviews)
- TrustPilot: 4.7/5 (2,206 reviews)
- Certifications: NFCC, FCAA, COA
- Combined Reviews: 2,326
- Average Rating: 4.53/5
17) CuraDebt (3.91/5)
- URL: www.curadebt.com
- Minimum Debt: $5,000
- Fees: 15% to 25%
CuraDebt Overview & Reviews:
Founded in 1996, CuraDebt (which we previously reviewed here) is probably the oldest debt settlement company reviewed in this list. What makes them stand out, aside from their longevity, is their low minimum. They are the only company that advertises low minimums of $5,000 and they will sometimes take clients with debt lower than that.
- BBB: A+ (4.64/5 – 11 reviews)
- Google: 4.8/5 (271 reviews)
- TrustPilot: 2.3/5 (13 reviews)
- Certifications: IAPDA, AFCC
- Combined Reviews: 295
- Average Rating: 3.91/5
18) ACCC (4.99/5)
- URL: www.consumercredit.com
- Minimum Debt: N/A
- Fees: Monthly Fee.
ACCC Overview & Reviews:
The ACCC is technically NOT a debt settlement company. They are a credit counseling agency that focuses on providing DMP’s (aka Debt Management Plans) to help you better manage and repay your debt. The advantage of DMP’s is no impact to your credit score. The disadvantage is that they don’t decrease your debt.
- BBB: A+ (4.98/5 – 1,054 reviews)
- Google: 5/5 (1,068 reviews)
- TrustPilot: N/A
- Certifications: NFCC, COA
- Combined Reviews: 2,122
- Average Rating: 4.99/5
19) Navicore Solutions (4.49/5)
- URL: www.navicoresolutions.org
- Minimum Debt: N/A.
- Fees: Monthly Fee.
Navicore Overview & Reviews:
Founded in New Jersey, Navicore is a nonprofit that assists clients in terms of debt management plans, credit counseling, housing counseling and more. Similar to the ACCC, Navicore focuses stictly on providing advice and guidance. They don’t provide debt settlement. consolidation or any other debt relief program.
- BBB: A+ (4.87/5 – 30 reviews)
- Google: 4.2/5 (140 reviews)
- TrustPilot: 4.4/5 (216 reviews)
- Certifications: FCAA, NFCC, COA
- Combined Reviews: 386
- Average Rating: 4.49/5
20) DebtHelper (4.59/5)
- URL: www.debthelper.com
- Minimum Debt: N/A
- Fees: N/A
DebtHelper Overview & Reviews:
DebtHelper is yet another Florida-based debt counseling agency. Based on our review of their website, they don’t seem to offer debt settlement or consolidation programs. Instead, they focus on counseling, DMP’s and financial education. They put a special emphasis on credit card, housing and student debts.
- BBB: A+ (4.96/5 – 739 reviews)
- Google: 4.1/5 (168 reviews)
- TrustPilot: 4.7/5 (57 reviews)
- Certifications: NFCC, FCAA
- Combined Reviews: 964
- Average Rating: 4.59/5
FAQ About Debt Settlement
1. What is debt settlement, and how does it work?
Debt settlement is a process where a company negotiates with your creditors to reduce the total amount of debt you owe. The goal is to settle your debts for less than the full balance, often through a lump-sum payment or structured payment plan (DMP). This can be an effective way to lower and better handle overwhelming debt, but it may impact your credit score and comes with fees charged by the debt settlement company.
2. How were the debt settlement companies ranked in this list?
The companies were ranked based on their average ratings and the total number of reviews across reputable platforms such as the Better Business Bureau (BBB), Google Reviews, and TrustPilot. We wanted this rating to be as objective as possible.
Top 5 Companies Based on their Ratings and Reviews:
- TurboDebt
- Average Rating: 4.88/5
- Combined Reviews: 17,281
- New Era Debt Solutions
- Average Rating: 4.91/5
- Combined Reviews: 630
- Accredited Debt Relief
- Average Rating: 4.86/5
- Combined Reviews: 15,905
- DMB Financial
- Average Rating: 4.78/5
- Combined Reviews: 1,175
- Pacific Debt Inc.
- Average Rating: 4.78/5
- Combined Reviews: 3,898
3. What services do these debt settlement companies offer?
Debt settlement is the core service being discussed here. Now, some of these companies also offer debt consolidation loans, credit counselinng, DMP’s and other services. Examples:
- TurboDebt offers debt settlement services for various types of debt, including credit cards, personal loans, student loans, tax debts, and medical bills.
- Accredited Debt Relief provides debt settlement and also offers debt consolidation loans through their partners.
- Money Management International (MMI) focuses on debt management plans and credit counseling with a unique monthly fee structure.
4. What are the typical fees associated with debt settlement services?
As you probably have noticed, the fees for debt settlement services typically range between 15% to 25% of the enrolled debt amount. Some companies may have different fee structures, including setup fees and monthly service fees.
Fee Structure Examples:
- TurboDebt: 15% to 25% of enrolled debt.
- New Era Debt Solutions: 14% to 23% of enrolled debt.
- Accredited Debt Relief: Flat 25% of enrolled debt.
- Money Management International: $33 setup fee and $25 monthly fee. (Note: Not a settlement company)
- Consolidated Credit Counseling Services: Up to 25% with additional setup and monthly fees.
Note about these fees: Fees are typically only charged after a successful settlement is reached. It’s important to understand the fee structure before enrolling in any program.
5. What is the minimum debt requirement to work with these companies?
Minimum debt requirements vary by company, most require a minimum of $10,000, while some companies have lower minimums of $5,000 or no minimum debt requirement at all if we’re talking about debt counseling and DMP’s.
Minimum Debt Examples:
- CuraDebt: Minimum debt of $5,000. (Lowest in the debt settlement space!)
- TurboDebt, National Debt Relief, and Freedom Debt Relief: Minimum debt of $10,000.
- CreditAssociates and InCharge Debt Solutions: No minimum debt requirement.
- Money Management International: No minimum debt requirement. (Note: Not a settlement company)
6. Do these companies offer debt consolidation loans?
Not all debt settlement companies offer debt consolidation loans. Some focus solely on negotiation and settlement, while others partner with lenders to provide consolidation options. We recommend that you be very careful and diligent if you plan to get a personal loan to get your debt. Unless your credit score is high enough and you have sufficient income, you will likely get bad terms and bad rates for your loan, which will sink you deeper into debt.
Companies Offering Debt Consolidation Loans:
- Accredited Debt Relief: Offers consolidation loans through partners with APRs up to 35.99%.
- National Debt Relief: Provides debt consolidation services along with settlement.
- DMB Financial: Assists with consolidating high-interest credit card balances into lower monthly payments.
Companies Not Offering Loans:
- TurboDebt
- New Era Debt Solutions
- Pacific Debt Inc.
- Century Support Services
7. What certifications should a reputable debt settlement company have?
Certifications indicate adherence to industry standards and ethical practices. Reputable certifications for providers of debt relief services include:
- American Fair Credit Council (AFCC)
- International Association of Professional Debt Arbitrators (IAPDA)
- Better Business Bureau (BBB) Accreditation
- Financial Counseling Association of America (FCAA)
- National Foundation for Credit Counseling (NFCC)
Examples:
- TurboDebt: AADR, BBB accredited.
- New Era Debt Solutions: IAPDA certified.
- Consolidated Credit Counseling Services: NFCC, FCAA, CFC certified.
- Money Management International: FCAA, NFCC certified.
Important Tip: Verify the company’s certifications to ensure they follow best practices and industry regulations.
8. How long does the debt settlement process typically take?
The duration of the debt settlement process varies depending on the amount of debt, speed of negotiations and the repayment plan you go with, generally ranging from 12 to 48 months.
Timeframe Examples:
- Accredited Debt Relief: Advertises debt-free status in 24-48 months.
- TurboDebt: Timeframe depends on individual debt amounts and negotiation outcomes.
- Freedom Debt Relief: Programs typically last between 24 to 60 months.
Factors Influencing Duration:
- Debt Amount: Larger debts may take longer to settle.
- Monthly Payments: Higher payments can shorten the settlement period.
- Negotiation Speed: Efficiency of negotiations with creditors affects timeframe.
Advice: Discuss expected timelines with the company during the free consultation phase to see if it fits your needs and requirements.
9. How does enrolling in a debt settlement program affect credit scores?
This is an important question! Although the effect won’t be as bad as if you file for bankruptcy, enrolling in a debt settlement program can negatively impact your credit score, especially in the short term. This is because the process often involves ceasing direct payments to creditors, leading to reported delinquencies. This is different from debt management plans (DMP’s) which won’t affect your credit.
Credit Impact Details:
- Short-Term Effects: Credit score may drop due to missed payments and settled accounts being marked negatively.
- Long-Term Effects: Once debts are settled and financial stability is restored, credit scores can get better again.
- Alternatives: Debt management plans (DMPs) through organizations like ACCC may have a lesser impact on credit scores compared to settlement.
Recommendation: Weigh the immediate credit impact against the benefits of reducing and eliminating debt. Consult with a financial advisor or free credit counselor to understand the full implications.
10. How do I choose the right debt settlement company for my needs?
If you’re still hesitant and don’t know who to choose, consider the following factors when choosing a debt settlement company:
- Reputation and Reviews: Look for companies with high average ratings and numerous positive reviews across multiple platforms.
- Fees and Costs: Understand the fee structure and ensure it’s reasonable and transparent.
- Minimum Debt Requirements: Choose a company that accepts your level of debt.
- Certifications: Ensure the company holds relevant and reputable industry certifications.
- Service Offerings: Select a company that offers services tailored to your specific financial situation.
- Consultation Services: Prefer companies that offer free initial consultations to assess your needs.
- Customer Support: Evaluate the quality and accessibility of their customer service.
- Transparency: The company should be clear about their processes, timelines, and potential impacts on your finances.
Also, whoever you choose to work with, make sure they are NOT part of this FTC database of companies that are NOT allowed to offer any debt relief services.
11. Are non-profit debt counseling agencies a better option than for-profit debt settlement companies?
Not necessarily! Even nonprofits need to make money and will charge you at some point in the process. Non-profit debt counseling agencies and for-profit debt settlement companies serve both offer similar services.
Amine is an entrepreneur, investor and financial writer that covers the US economy, inflation, alternative investments, cryptocurrencies and more. He has been involved in the space for over a decade.
