Sort by:
Your state:

Freedom Debt Relief
verified
Companies can verify their Best Company profile through contacting us. Once a company profile has been claimed and verified by Best Company, we work with the company to ensure the information on our site is as accurate as possible.

company logo #1

316Reviews

2 months ago

9.2

Our Score

8.7

User Score

Pacific Debt Inc.
verified
Companies can verify their Best Company profile through contacting us. Once a company profile has been claimed and verified by Best Company, we work with the company to ensure the information on our site is as accurate as possible.

company logo #2

581Reviews

1 day ago

9.0

Our Score

9.7

User Score

Accredited Debt Relief
verified
Companies can verify their Best Company profile through contacting us. Once a company profile has been claimed and verified by Best Company, we work with the company to ensure the information on our site is as accurate as possible.

company logo #3

676Reviews

1 second ago

8.9

Our Score

9.8

User Score

Superior Debt Relief
verified
Companies can verify their Best Company profile through contacting us. Once a company profile has been claimed and verified by Best Company, we work with the company to ensure the information on our site is as accurate as possible.

company logo #4

52Reviews

1 year ago

7.8

Our Score

9.7

User Score

New Era Debt Solutions
verified
Companies can verify their Best Company profile through contacting us. Once a company profile has been claimed and verified by Best Company, we work with the company to ensure the information on our site is as accurate as possible.

company logo #5

3Reviews

1 week ago

6.6

Our Score

10

User Score

Debt Rx
verified
Companies can verify their Best Company profile through contacting us. Once a company profile has been claimed and verified by Best Company, we work with the company to ensure the information on our site is as accurate as possible.

company logo #6

6Reviews

1 day ago

6.3

Our Score

10

User Score

DMB Financial
verified
Companies can verify their Best Company profile through contacting us. Once a company profile has been claimed and verified by Best Company, we work with the company to ensure the information on our site is as accurate as possible.

company logo #7

10Reviews

1 week ago

6.1

Our Score

8.8

User Score


3 Things to Know Before Choosing a Debt Settlement Company

Debt settlement is the process of negotiating with creditors for a lower overall debt amount. It is an alternative to debt consolidation, debt management, and do-it-yourself programs. It is recommended for individuals with high, unmanageable debt. Typically, debt settlement companies first evaluate the needs of potential customers and then create a customized plan. This plan often involves customers allocating a portion of their paycheck to a specific FDIC insured savings account. The company will use this saving account to negotiate a lump sum payment to settle an account's debt. The best debt settlement companies comply with federal guidelines and are upfront about prices and results.

Accreditations

It is important to analyze credibility to determine the best debt settlement company. The Federal Trade Commission created guidelines to protect consumers with credit card debt. They ban advanced fees, set specific rules for settlement savings accounts, and prohibit misrepresentations. Distrust any company that charges upfront fees. There are several agencies that accredit companies, including the American Fair Credit Council (AFCC) and International Association of Professional Debt Arbitrators (IAPDA). The AFCC requires companies to train staff, provide clear client agreements, and written policies and procedures. The IAPDA requires a certain percentage of staff to receive certified training.

Debt Settlement Effects

Debt settlement has several consequences and no guarantee of success. Creditors are under no obligation to settle debts for a lower amount. Be skeptical of any company that guarantees a certain amount or percentage, especially in a short period of time. The process may take a couple years. Additionally, debt settlement

 

 

 

negatively impacts credit scores. Settlement programs often ask customers to place money into a saving account rather than pay their creditors. This results in missed monthly payments which reflect poorly on credit reports. Furthermore, there may be tax consequences with debt settlement. The IRS can collect taxes on forgiven debt.

Pricing and Fees

It is important to understand the price and fees associated with debt settlement. Most companies charge a percentage, either of the debt enrolled or debt saved. It is important to understand how companies assess their fees because 20 percent of enrolled debt will be larger than 20 percent of debt saved. Companies often offer a free consultation to help potential customers determine whether debt settlement is right for them. This is also an opportunity for consumers to find out about specific pricing for their unique circumstance. Again, companies should not charge any fees before a debt settlement agreement is formed. There are some companies that offer a money-back guarantee.