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7 Best Debt Settlement Companies to Call when it All Goes Wrong

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Debt settlement is that method by which you can get rid of your debt by paying some cents on the dollar.

How? You just have to call any one of these best debt settlement companies and they’ll negotiate with lenders to settle your debt at a lesser amount than what you owe.

Yes, we are aware that debt settlement has its own pros and cons, but it certainly is an intelligent way to tackle debt. Here are the 7 best debt settlement companies of 2019.

1. Freedom Debt Relief

It would be an outright fallacy to place Freedom Debt Relief (FDR) anywhere below the #1 spot in our list of best debt settlement companies. They work wonders when it comes to settling debt.

Freedom Debt Relief is the largest and most experienced debt settlement company in the country. FDR has already served more than 600,000 clients, helping them on the path to financial freedom.

It has resolved more than $10 billion worth of debt since its inception in the year 2002. A certified debt consultant is here for you 7 days a week and all you need to do is call up FDR.

What sets FDR apart from its competitors is that it offers an easy to use customer dashboard that helps users through the debt settlement process with live agents available for customer support. With longstanding relationship with creditors built over the last two decades, the company has a proven track record of getting great results for its customers.

As for mortgages, auto loans, and federal student loans- there are other debt relievers in this list of best debt settlement companies; FDR doesn’t settle debt on these three fronts.

Fee 18% - 25%
Program Term 24 to 48 months*
Min Debt Amount $15,000
Savings Vary
Accreditation AFCC and IAPDA
Apply Now

If you’re from Connecticut, Hawaii, Illinois, Kansas, Maine, Mississippi, New Hampshire, New Jersey, North Dakota, Oregon, Rhode Island, South Carolina, Vermont, Washington, West Virginia, or Wyoming- FDR won’t be there to help you out.

2. National Debt Relief

If this list of best debt settlement companies would’ve been made some years back, National Debt Relief (NDR) wouldn’t have made it. But the sudden rise of this debt settler made it a tough contender for the top spot.

NDR has this ‘trust-building’ enigma attached to its name, and since 2009 they’ve continued to educate debt-laden Americans on how to settle for less when it comes to debt and everything beyond it. NDR boasts that its program can reduce clients’ debt by 30%.

The reason why NDR is one of the best debt settlement companies in the nation is that they’re unlike that one pushy sales guy who’s stiff as a stick when it comes to making a sale. Their primary focus is to educate their clients about debt relief options.

They won’t sell you their debt settlement program like others sell binoculars to a blind man. NDR recommends and very clearly states that ‘debt settlement isn’t the best way out’ but it might work if all the other doors are jammed.

NDR is cracker-jacker of a choice when it comes to settling out unsecured loans, one can say that they’re very good at it. They settle private student loans too.

If there’s too much of unsecured debt on client’s total debt count, then National Debt Relief won’t be the best option available to you. They’re only good as far as secured loans and private student loans are concerned.

Although it has wide coverage, when it comes to states of Connecticut, Georgia, Kansas, Maine, New Hampshire, South Carolina, Oregon, Vermont, and West Virginia- NDR would not be there to assist you.

Fee 15% - 25% of total debt
Program Term 24 to 48 months
Min Debt Amount $7,500
Savings 30% after fee
Accreditation AFCC and IAPDA
Apply Now

3. Accredited Debt Relief

Not only is it one of the most renowned best debt settlement companies, Accredited believes in providing service to their clients rather than just pushing a debt settlement offer down their throats.

They study your debt like a piece of a research paper and figure out what is the best relief option for you- be it debt settlement, debt consolidation or simple debt management.

Accredited try their level best to ensure that your credit score doesn’t plummet like little kids on waterslides. They offer you that debt relief option which would help you save the most.

This is an added advantage, considering that debt settlement is quite scary and it might backfire in the long run. Many clients push for debt settlement without knowing its extreme repercussions, and Accredited educates them.

It’s mostly in the green when it comes to Accredited’s reviews- from helpful customer reps to splendid hotline assistance. Customers all over the internet say that Accredited taught them that there’s more to debt relief then debt settlement.

They’ve got this cool ‘debt relief calculator’ on their homepage where you type your debt amount and they instantly show monthly payment estimate and how much you’d save with Accredited by your side. This is very unique; we suggest you give it a try for the sake of it.

Fee 20% of total debt
Program Term 12 to 48 months
Min Debt Amount $15,000
Savings 30% after fee
Accreditation AFCC & BBB
Apply Now

4. Cura Debt

The name sounds like a pill that one can take and wham! All your debt hath been cured, human.

Well, sort of.

Cura Debt is a decent place to go for and they have a highly competitive rate, that’s why they glided through this list of best debt settlement companies. And if you’re an introvert and don’t feel like calling right away, you can chat with a representative online.

Cura Debt’s website reaps a lot of praise due to its transparent layout. Just go there once and find what you’re looking for- from free savings estimates to a blog on how to get out of debt (hey, we do that too!).

If you’re looking to settle an unsecured debt and even business debt for that matter, Cura Debt is a must visit from our best debt settlement companies list. They have a provision for tax debt too.


As for the experience, they’re quite wise. Cura Debt started in the year 2000 and it still continues to be one of cleanest debt settlement companies in the market. They offer remarkable savings that are better than the most.

Cura Debt doesn’t cover 13 states out of the whole lot, so if you live there you can refer to other debt settlement companies. They won’t let you down.

Fee 20% of total debt
Program Term 36 to 48 months
Min Debt Amount $5,000
Savings 30% after fee
Accreditation AFCC and IAPDA
Apply Now

5. Debt Consolidation Care

The name brings a presumption that it’s only for consolidating debt, but Debt Consolidation Care (DEBTCC) has lots of debt-killing guns in its arsenal. It offers free debt counseling to kick-start your journey to financial freedom. The Financial Coach helps you to settle debts with big savings.

In the last 13 years, DEBTCC has helped more than 13,000 clients to settle their debts. The best part is that they follow a very simple (yet slick) procedure to strike the metal when it’s hot and settle the debt on the lowest value possible, and if clients are not satisfied, then they can even use 100% ‘No Results Refund Policy.’

The lads and lassies from DEBTCC go through all troubles to prevent clients from getting bankrupt. They even help to settle debts that are as low as $1000 and that’s a great benefit for the clients.

The Financial Coach at Debt Consolidation Care is experienced and has a vast knowledge of debt solutions. He can help you find the right solution for your financial hardship. The information you get here is on the money and it is a great place to start if you are new to debt settlement.

All in all, DEBTCC does a fine job if you plan to get a debt settlement through them. Give them a visit to know about other offers that can solve your debt problem.

Fee 15% of total debt
Program Term 24 to 48 months
Min Debt Amount $1000
Savings 30% to 40% after fee
Accreditation A+ on BBB & IAPDA
Apply Now

6. DMB Financial

If your taste lies in tailor-made stuff then DMB Financial might be a good choice. It is one of the best debt settlement companies that offer custom debt settlement solutions in accordance to one’s financial situation.

DMB has settled more than $1 billion in debt since its inception in 2003, and their customers are usually ‘debt-settled’ in two to four years (five years, in some cases). DMB’s process is very transparent when it comes to settling a debt.

Offering a free debt checkup is step one in DMB’s financial assistance program, after which they draft a customized debt settlement offer for client’s convenience. After that, you deposit the given funds in a dedicated savings account each month.

DMB has successfully driven more than 30,000 customers out of debt’s clutches, and if you feel like going for it, DMB is a good place to look at.

Fee 18% - 25% of total debt
Program Term 24 to 60 months
Min Debt Amount $10,000
Savings 30% after fee
Accreditation AFCC & IAPDA
Apply Now

7. Pacific Debt Inc

Pacific Debt is a household name among top debt-doctors as they place it amongst the best debt settlement companies working across the USA. It charges a fee on the percentage of debt reduced, which results in healthy savings.

If you’ve maxed out on all your credit cards and can’t seem to find a way to take things forward, Pacific debt can settle your debts and ensure that you come out on top (while your credit score takes a few hits).

You can call ‘em up for free and discuss your financial situation; they offer a very sound advice, believe us.  There’s an online chat-box that’s easily accessible and you can use that if speaking is too much of a task for you.

They have a debt management blog too (again, we do it better!), you can learn about debt settlement and it’s pros and cons there (and here). One can easily track their debt settlement progress online on their website.

Now, the Elephant in the room- the sales reps are quite pushy, they rush you into decisions that you really don’t know much about. Debt settlement is a very sensitive financial decision and the last thing you need is some sales guy on the other side of the phone.

Pacific Debt Inc is available in just 25 states, so yeah. The coverage isn’t really that extensive.

Fee 15% - 25% of reduced debt
Program Term 24 to 48 months
Min Debt Amount $10,000
Savings 15% after fee
Accreditation AFCC & IAPDA
Apply Now

What on Earth is Debt Settlement?

Debt settlement is a process where borrowers reach out to the best debt settlement companies in an attempt to reduce their debts. These debt settlement companies examine all applications they receive according to amount of debt, credit scores and credit history.

After the initial contact, these debt settlement companies get to work. The consultation is free and debt settlers start with filling up paperwork and preparing a suitable plan that suits your budget.

Once it is done, the best debt settlement companies take immediate action. They contact your creditors to negotiate a settlement. Do note that debt settlement only works for unsecured debt.

You make payments to the dedicated account until the designated total is reached. The time span is usually two to five years. Now that the debt settlement company has already negotiated on your behalf, all you have to do is put money in the account and consider your debt settled.

How is it Dissimilar to Consolidation & Management?

Debt Settlement is often thrown around like it is equivalent to debt consolidation and debt management. The concept of debt settlement is poles apart from both consolidation and management.

Debt settlement literally means settling your debts for a lesser principal amount than you already owed to your creditors.

As for Debt Consolidation, borrower opts for a new loan and pays off all existing debts with it. All the unsecured loans are now replaced with a single loan, which generally has a relatively low interest rate.

With Debt Management, principal amount stays the same and company negotiates to lower interest rate. Borrower pays the company and company pays borrower’s creditors.

As you can see, there is a huge difference between debt settlement and other two concepts of consolidation and settlement, which are distinct in themselves. Debt settlement also impacts your credit score quite badly; we’ll get to it later.

How to Choose the Best Debt Settlement Company?

There are tonnes of debt settlement companies out there, and even if we’ve highlighted the best debt settlement companies you can only approach one. You should look no further than our top-drawer list, but if you found a debt settlement company that claims to be the best, you should give it a thorough check by ticking these boxes:

Debt Settlement Fees

Now there are two ways best debt settlement companies in the biz charge fee. They either charge you on amount of debt reduced or their fee structure is on basis of borrower’s total debt. Debt settlement companies are not allowed to charge fees up-front, the Federal Trade Commission made sure of that in 2010.

Program Term

This one widely depends on what is your financial standing. Like we discussed above, you have to deposit money in a designated account till the time it equals settled amount. Generally, debt settlement takes nothing more than two to five years. The best debt settlement companies give it their top try to reduce it to greatest extent. They’ll settle it as quickly as possible if you are up for it.

Amount of Debt

Most of the time, debt settlement brackets start from $10,000 and there is no end limit. However, when it comes to best debt settlement companies in the market, they won’t really mind if you don’t make it to given bracket—they might consider settling your debts anyway. This isn’t always the case as the given criterion has to be met to the core. If you feel that you won’t make it, give them a call anyway, they’ll tell you what you can do.

High Savings

Settling debt involves saving a huge chunk of your hard earned money and it is the reason people go for it. Yes we agree that how much money you save depends on the lender, but the best debt settlement companies pull the rug as much as they can. The stellar ones can save as much as 30% of your money after settling your debts and taking their own share of fees. We’ve provided you how much the best debt settlement companies save; take your pick according to it.


It is crucial to figure out what nation thinks of the best debt settlement companies in market. That’s what accreditations do— reviews. If you have a debt settlement company in mind that didn’t make it to this list (we’d love to hear about it) you should check its ratings on platforms like:

  • Better Business Bureau
  • American Fair Credit Council
  • International Association of Professional Debt Arbitrators
  • TrustPilot

While the first three entities give out grades and ratings, TrustPilot is the best place to read what commoners have to say. These accreditations and reviews can help you figure out whether your debt settlement company is really the best or it’s in the red zone. We’ve specified accreditations in our listing.

Demerits of Debt Settlement

Debt Settlement is not all hunky-dory. When all your debt bites the dust on one hand, your financial report gets botched with the word “Settled”. Debt settlement beats your credit to dust. The only reason creditors agree to settle debt is because borrower proves his/her financial hardship.

If you’re settling your debt, you would have to deal with these shortcomings. Here are some demerits in settling your debts:

The Fee

When it comes to fee structure, Debt Settlement companies reap a lot more than what they’ve sown. The fee structure varies from one entity to another and it’s a lot. They cannot charge any money upfront due to FTC guidelines, but at most times, fee is too much for the debt enrolled.

The Peril

There is a big risk associated with debt settlement. The thing is, when you make way and contact one of the best debt settlement companies, you stop paying creditors altogether. You do pay (to debt-settler) but that money keeps gathering into your saving account. This means delinquency, late-fee, incoming calls from creditors and a lot of headache. This continues till the settlement company is done negotiating on your behalf.

The Aftermath

Once you are done with debt settlement (thanks to your debt settler), your credit report won’t be all sunshine and rainbows. When you settle the debt, you don’t pay in full; you settle it for a lesser amount. This blemishes your credit report. If you want funds in the future, creditors might give you dirty looks. Debt settlement hurts your credit report—big time.


The only reason why debt settlement companies take your case on is if you prove financial hardship. After that, the amount of debt forgiven plays a vital role. If the forgiven debt is more than $600, it has to be treated as taxable income. So if your best debt settlement companies really do a good job and save you loads on debt, you still have tax to pay.

Now you know debt settlement is not as dreamy as it sounds. There are lots of black marks it leaves on your financial records. Now the question is, if not Debt Settlement, then what?

Debt Settlement Alternatives

Debt settlement is seriously effective but it is equally serious. Calling one of these best debt settlement companies might help, but there are some alternatives you should consider before jumping the debt-settlement gun.

Debt Consolidation

At most times you won’t even have to think of settling your debt. You can end your worries by just consolidating it. Debt consolidation is an effective technique that works wonders. The debt consolidation company will pay all your debts and replace it with one single debt that has a low, stable interest rate. You save big on interest and it doesn’t hurt your credit score.

Balance Transfer

If you’ve got too much of credit card debt, you can pool it all and use a Balance Transfer Credit Card to pay it off at attractive interest rates. There are lots of credit cards that offer balance transfer at 0% interest. You can check the full list here and get rid of your debt slowly and steadily while saving big.

Debt Management

Just like Balance Transfer, debt management doesn’t reduce principal amount of debt. But one crucial thing it does is negotiate for a lower interest rate and monthly payments. Unlike Balance Transfer, however, debt management might hurt your credit score if your creditor does not agree to it. There are various scams in the name of debt management, so you better be careful before approaching a debt management company.


Let us make this clear once and for all, you cannot shout “I declare Bankruptcy!” and expect it to just happen. Bankruptcy has to be the last resort option if you cannot find a place to go. This kills your credit score and leaves it hanging out in the cold. We’d recommend one of the best debt settlement companies before you even go there. But it is a legitimate alternative and you can look into it.

Some debts are fun when you are acquiring them, but none are fun when you start paying them off. Many times when you have no option, you have to make your way with a debt-settler.

These debt settlement companies will walk you through the process and (hopefully) you’ll have the last laugh!


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