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Compare Great Debt Relief Companies of 2024
Debt relief can ease the burden of overwhelming debt.

Shop some of the great debt relief companies of 2024.

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NerdWallet partners with National Debt Relief to provide customers with over $7,500 in credit card debt with settlement options to help them become debt-free in 2-4 years by reducing their monthly payments by 23% or more.
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NerdWallet partners with Freedom Debt Relief to provide customers with over $7,500 in credit card debt with settlement options to help them become debt-free in 2-4 years by reducing their monthly payments by 20% or more.
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NerdWallet partners with Accredited Debt Relief to provide customers with over $20,000 in credit card debt with settlement options to help them become debt free in 2-4 years by significantly reducing their monthly payment.

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Debt relief basics
How debt relief companies work
Debt relief companies negotiate on your behalf to change terms or amount of your debt so you can get back on your feet more quickly. This is sometimes called "debt settlement."

Debt relief programs are not the right solution for everyone, and it's important to understand their potential risks. Success is not guaranteed, and the cost could be higher than negotiating on your own.
When to use a debt relief company
Consider using a debt relief company for debt settlement when:
  • You have no hope of repaying unsecured debt (credit cards, medical bills, personal loans) within five years, even if you take extreme measures to cut spending.
  • The total of your unpaid, unsecured debt equals half or more of your gross income.
  • Frequently asked questions about debt settlement

    Debt settlement is a last resort for those who face overwhelming debt but cannot qualify for bankruptcy or simply don't want to file bankruptcy.

    Common pitfalls to avoid when you're in debt
    For anyone who is overwhelmed by debt, our experts recommend avoiding these mistakes.
    Neglect secure debt
    Don't prioritize unsecured debt (like medical bills or credit cards) over secured debt (like a car payment). Always pay secured debt first to avoid losing your collateral.
    Tap into your home equity
    If you borrow against your home equity to pay unsecured debt, you're putting your home at risk of foreclosure. Also, your unsecured debt can be wiped out in bankruptcy, but this type of debt cannot.
    Dip into your retirement
    Don't withdraw money from your retirement savings or work retirement accounts to repay unsecured debt. This reduces your overall financial stability, and your may incur penalties for the withdrawal.
    Give in to pressure
    When a creditor is pressuring you to pay, you'll naturally want to pay them first, but it may not be the best choice. Take your time to research your options and make a debt management plan that's best for you.