Ready to become debt-free faster? A certified debt relief program will negotiate settlements with your creditors for less than the amount you currently owe. Discover our top-ranked debt relief programs and start reducing your debts today!

Best for $20K+ in Debt

  • Resolve debt in 24-48 months
  • 750,000+ clients enrolled
  • Over $10 billion in debt solved
  • Free consultation
  • No hidden fees



  • Certified debt specialists
  • No hidden fees
  • High customer satisfaction



  • Free consultation
  • A+ accredited by BBB
  • Variety of debt services



  • Free consultation
  • Debt reduction of 20%-90%
  • Unsecured debt relief


Joe Schwartz

Debt Consolidation Editor

Our chief content editor, Joe manages a diverse team of content writers. He holds a degree in online communications and his writing has been featured in a wide range of online publications.

FAQ's About Debt Relief

Debt relief services allow you to put your debt behind you and become debt free sooner. They negotiate directly with your creditors and help settle for an amount that is less than what you currently owe. Signing up and enrolling is simple, but before signing up it's best to familiarize yourself with the terms, conditions, and outcomes. To help you get started, we've compiled some of the most commonly asked questions about debt relief.

Debt relief, also referred to as debt settlement, is a service that seeks to negotiate with your creditors and lower your debts into one manageable monthly payment. Debt relief companies will work directly with you and the companies to which you are indebted to devise a solution that works best for you. Instead of paying the full amount you owed, debt relief companies will negotiate a new amount that you are able to pay off sooner.
Debt consolidation refers to a financial strategy that combines high-interest debts into a single, lower interest monthly payment. Instead of having to pay back multiple high-interest loans, you can use a new debt consolidation loan to pay off all existing loans and pay back the new loan at a lower interest rate. Debt consolidation loans have fixed terms and fixed interest rates, so you can take control of your debt, know exactly when you will be debt-free, and pay off your debt faster.
Choosing between debt relief and debt consolidation depends on many factors including how much debt you have, how many creditors you are indebted to, and how high the interest rates are. Debt consolidation is best if you have several high-interest loans and you are able to pay them off using a loan with a lower interest rate. It's more of a DIY debt solution and will not cancel or reduce the amount of debt you owe. Instead, it will reduce your monthly payments, allowing you to become debt free sooner. Debt relief, on the other hand, is better for situations when bills are piling up and you are unable to pay back all your creditors. In this situation, you will pay back less than the amount you owe, but it will come at the expense of your credit score.
In short, yes. While a debt consolidation loan may affect your credit score minimally, a debt settlement done through a debt relief service is likely to cause severe damage to your credit score. This impact can be long lasting and it's best to fully understand the ramifications before going through with a settlement. Trustworthy debt relief companies, like the ones listed in our chart above, are sure to explain all the details of how it will affect your credit score and when you can expect to see the changes.
Choosing the best debt relief solution will largely depend on the amount of debt you have and the terms you are looking for. All trustworthy debt relief companies will offer a free consultation and discuss their service with you before you need to commit. In order to fully understand the offerings of each company, it's best to read reviews, compare services, and see your options.

Discover the ins & outs of debt consolidation