Falling into debt can happen to anyone. Job loss, medical bills, or overspending on credit cards can leave consumers struggling to pay off what they owe. Debt settlement provides a path for consumers to resolve unsecured debt for less than the full amount owed. With debt levels rising, more people may turn to debt settlement companies in 2023 to negotiate with their creditors.
When researching debt settlement firms, consumers should look for customer service, fees structures, and BBB ratings. We researched and ranked the top 7 debt settlement companies based on these factors so consumers can find a reputable partner to assist them in becoming debt-free.
1. National Debt Relief
Founded in 2009, National Debt Relief aims to help consumers lower total owed debt by 30-50% on average. The company has resolved over $15 billion in debt and is rated A+ with the Better Business Bureau.
National Debt Relief charges fees between 15-25% of enrolled debt amounts only after settling accounts. The company provides free debt and budget analysis upfront to create a customized resolution plan. Customers praise National Debt Relief’s customer service and effective debt negotiation results.
2. Freedom Debt Relief
As one of the largest US debt settlement companies, Freedom Debt Relief has over 750,000 clients and $10 billion in debt resolved. The company charges fees between 15-25% of enrolled debt amounts after settling accounts for consumers.
Offering free consultation and debt analysis, Freedom creates proposals to negotiate with creditors for reduced payoff amounts. While Freedom Debt Relief has an A rating with the BBB, some customers felt monthly fees were high before settling debts. Overall, Freedom is an established debt settlement leader that can effectively reduce balances.
3. Second Start Financial
In business for over a decade, Second Start Financial resolves both unsecured and secured debt accounts for consumers struggling with repayment. The company has resolved over $250 million in debt with savings around 35-40% of balances owed.
The company offers debt analysis and customized action plans to meet client financial situations. While fees are on the higher end, Second Start Financial delivers excellent debt resolution results.
4. Pacific Debt Inc.
Founded in 2002, Pacific Debt Inc. takes a relationship-focused approach to assisting consumers with debt settlement. The company works with individual creditors to negotiate and resolve unsecured debt accounts on behalf of clients.
Pacific Debt Inc. charges average fees of 15% of enrolled debt amounts after accounts are settled. The company offers free consultation and customized debt resolution plans to meet client financial needs. Pacific Debt Inc. is rated A+ with the BBB and helps consumers resolve debt for less through strong creditor relationships.
5. CuraDebt
CuraDebt is a relatively newer debt settlement company, founded in 2000, that negotiates with creditors to help consumers resolve unsecured debt. The company has over 80,000 clients and charges fees between 15-25% of enrolled debt amounts after accounts are settled.
Offering free debt analysis and planning, CuraDebt creates proposals based on client finances and creditor policies to reduce balances. Customer reviews praise CuraDebt’s responsiveness and expertise negotiating debt accounts. Overall, CuraDebt effectively helps consumers resolve debt through flexible resolution plans.
6. Accredited Debt Relief
In business since 2011, Accredited Debt Relief negotiates with creditors to help reduce consumer debt principal balances and interest rates. The company has over 750 employee team members across the US and charges average fees of 20% of enrolled debt amounts after settlement.
Accredited Debt Relief is rated A+ with the Better Business Bureau and offers free debt consultation and analysis upfront. Customers praise the company’s financial education resources and expertise resolving different debt situations. Overall, Accredited Debt Relief is an established, reputable debt settlement firm.
7. ClearOne Advantage
ClearOne Advantage is a relatively new debt settlement company, founded in 2017, that aims to build relationships with creditors to reduce client debt repayment. The company has over 10,000 clients and charges fees between 15-25% after negotiating settlements.
The company offers free debt analysis and customized resolution plans based on client needs. ClearOne works with consumers struggling with credit card, medical, or other unsecured debt accounts. While a newer firm, ClearOne helps consumers resolve debt through flexible plans and strong creditor relationships.
Find the Right Debt Settlement Partner
As debt levels rise, debt settlement provides financial relief for consumers through reduced balances and payments. When choosing a debt settlement company, look for reasonable fee structures, strong BBB ratings, and expertise negotiating with diverse creditors. Companies like National Debt Relief and Freedom Debt Relief offer reputable services to help clients resolve debt.
Carefully review debt settlement company details to find the best partner to meet your financial situation. Becoming debt-free is possible with help from reputable debt settlement firms negotiating accounts on your behalf. Consider debt settlement as an alternative to bankruptcy to resolve what you owe and gain financial freedom.
