So you’ve decided that debt settlement is going to be your best option for your current situation. You love the fact that you’re going to save a ton of money and be out of debt in way less time than you would be on your own.
You’ve got a plan of action, but who is going to ensure it all runs smoothly for you?
It’s imperative to your success that you team up with a company that you trust completely. After all, they’re helping you build the groundwork for your financial future.
At this point, you’re probably doing a ton of research on different debt settlement companies. But do you even know what you’re looking for?
That’s why we thought it was so important to put together a list of the best debt settlement companies for you.
The following 8 companies are all accredited and trust worthy. So you don’t have to be concerned that you’re going to get scammed.
We’re going to give you an overview of the follow debt settlement companies:
- US Center for Debt Relief
- National Debt Relief
- Freedom Debt Relief
- Pacific Debt Relief
- DMB Financial
- Accredited Debt Relief
- Credit Associates
- Elite Financial Service
What Should You Look For?
Pay attention to the following questions:
- How many years have they been in the industry?
- What is their BBB rating?
- Are they accredited?
- What types of accounts can they help settle?
- How long does their debt settlement plan take?
- How much debt do I need to be in to qualify for help?
- What are their fees?
- How much money can they save me in the process?
- Do they work in my state?
- Do they charge any upfront costs?
Getting the answers to these questions should give you the confidence you need to pick a reliable debt settlement company.
And we’re here to make sure you’re armed with the right information to make a smart choice. So we’ve done the research for you and put together all of the facts you need to make a savvy decision.
Here are the 8 best debt settlement companies:
1. US Center for Debt Relief – USCDR
The US Center for Debt Relief is a company that offers financial education for consumers as well as debt settlement services. The company was established in 2009 and is located in Tampa, FL, with a BBB rating of A+.
They are accredited through:
- AFCC
- IAPDA
Accounts they settle on:
- Credit Cards
- Personal Loans and Lines of Credit
- Medical Bills
- Collections and Repossessions
- Certain Student Debts
- Legal Judgements
- IRS Debt
Accounts they do not settle on:
- Lawsuits
- Auto Loans, Government Loans
- Mortgage or Home Loans
- Other Secured Debts
Settling your debts with The US Center for Debt Relief typically takes anywhere from 2 to 4 years. In some cases, your program may be extended to 5 years. It all depends on how much debt you’re in and your payoff plan.
They also have a $7,500 minimum debt requirement in order for them to assist you. Once enrolled in their program, their fees are around 15% to 25% of the total enrolled debt amount.
USCDR guarantees an average saving of 30% on your debt. However, they are regularly able to negotiate 50-70% reductions on your debt. They are able to operate in 47 different states, and do not have any upfront costs.
2. National Debt Relief
National Debt Relief is a company that offers financial education for consumers as well as debt settlement services. This company was established in 2009, and is located in New York, with a BBB rating of A+.
They are accredited through:
- AFCC
- IAPDA
Accounts they settle on:
- Credit Cards
- Personal Loans and Lines of Credit
- Medical Bills
- Collections and Repossessions
- Business Debts
- Certain Student Debts
Accounts they do not settle on:
- Lawsuits
- IRS Debt and Back Taxes
- Utility Bills
- Auto Loans, Government Loans
- Mortgage or Home Loans
- Other Secured Debts
Settling your debts with National Debt Relief usually takes anywhere from 2 to 4 years.
They also have a $7,500 minimum debt requirement in order for them to assist you. Once enrolled in their program, their fees are around 15% to 25% of the enrolled debt.
National Debt Relief averages a net saving of 30% after their fees. They are able to negotiate in 40 different states and they do not have any upfront costs.
3. Freedom Debt Relief
Freedom Debt Relief is a company that provides financial education for consumers as well as debt settlement services. This company was established in 2002, and is located in San Mateo, CA, with a BBB rating of A+.
They are accredited through:
- AFCC
- IAPDA
Accounts they settle on:
- Personal Loans
- Medical Bills
- Credit Card Debt
- Any other unsecured debts
Accounts they do not settle on:
- Mortgages
- Auto Loans
- Federal Student Loans
Settling your debts with Freedom Debt Relief typically takes anywhere from 2 to 4 years.
They also have a $7,500 minimum debt requirement in order for them to assist you. Once enrolled in their program, their fees are around 15-25%, with the average fee being 21.5%.
Freedom Debt Relief averages a 15-35% savings on a completed settlement. They are able to negotiate in 34 states and do not have any upfront costs.
Understand what #bankruptcy is to know if it’s the best solution for you and your #business. Learn more here: https://t.co/JnPMjvWd9s#tips #money #finance #debt #GOOD pic.twitter.com/onC9QP4JaK
— Get Out of Debt (@getoutofdebtcom) April 2, 2018
4. Pacific Debt Inc.
Pacific Debt Inc. is a company that helps consumers settle their outstanding debts. This company was established in 2002, and is located in San Diego, CA, with a BBB rating of A+.
They are accredited through:
- AFCC
- IAPDA
Accounts they settle on:
- Personal Loans
- Medical Bills
- Collections and Repossessions
- Legal judgments
- Retail debts
- Any other unsecured debts
Accounts they do not settle on:
- No specifications
Settling your debts with Pacific Debt Inc. typically takes anywhere from 2 to 4 years.
They also have a $7,500 minimum debt requirement in order for them to assist you. Once enrolled in their program, their fees are around 15-25% of the enrolled debt amount.
Pacific Debt Inc. averages a 15-25% savings once the settlement is complete. They are able to negotiate in 28 different states, and do not have any upfront costs.
5. DMB Financial
DMB Financial is a company that works on controlling and restructuring consumers debts. This company was established in 2003, and is located in Beverly, MA, with a BBB rating of A+.
They are accredited through:
- AFCC
- IAPDA
Accounts they settle on:
- Personal Loans
- Medical Bills
- Credit Card Debt
- Private student loans (these are settled on a case by case basis)
- Any other unsecured debts
Accounts they do not settle on:
- No specifications
The amount of time it’ll take you to settle your debts with DMB Financial will depend on your total debt amount. Clients typically complete the program within 4 years, but it could take you up to 5.
They also have a $10,000 minimum debt requirement in order for them to assist you. Once enrolled in their program, their fees will be about 25% of your settlement amount.
DMB Financial averages a 15-50% reduction of your total debt after the settlement is completed. They are able to negotiate in 26 different states, and they do not have any upfront costs.
6. Accredited Debt Relief
Accredited Debt Relief is a company that offers financial education for consumers and debt settlement services. This company was established in 2008, and is located in San Diego, CA, with a BBB rating of A+.
They are accredited through:
- AFCC
- IAPDA
Accounts they settle on:
- Credit Cards
- Personal Loans and Lines of Credit
- Medical Bills
- Any other unsecured debts
Accounts they do not settle on:
- Auto Loans, Government Loans
- Mortgage or Home Loans
- Other Secured Debts
Settling your debts with Accredited Debt Relief typically takes anywhere from 2 to 4 years.
They also have a $10,000 minimum debt requirement in order for them to assist you. Once you have enrolled in their program, their fees are around 15-25% of your total enrolled debt.
Accredited Debt Relief averages a net savings of 15-30% of their client’s total debt, after their fees are subtracted. They are able to negotiate in 32 different states, and do not have any upfront costs.
Want to save money while living on a tight #budget? It’s possible! Here’s how: https://t.co/P2jwXdkDxo #debtfree #financialfreedom #moneymatters #debt #tips #GOOD pic.twitter.com/gY5eouB9rM
— Get Out of Debt (@getoutofdebtcom) April 17, 2018
7. Credit Associates
Credit Associates is a company that offers financial education for consumers and debt settlement services. This company was established in 2016, and is located in Dallas, TX, with a BBB rating of A.
They are accredited through:
- AFCC
- IAPDA
Accounts they settle on:
- Consumer Debt
- Commercial debt
- Medical debt
- Judgement
Accounts they do not settle on:
- No specifications
Settling your debts with the Credit Associates typically takes anywhere from 2 to 3 years.
They also have a $7,500 minimum debt requirement in order for them to assist you. Once enrolled in their program, their fees are around 15-35% of the total debt enrolled.
Credit Associates averages a net savings of 15-30%, after their fees are subtracted, and they do not have any upfront costs.
8. Elite Financial Services
Elite Financial Services is a company that’s committed to help people live a debt free life. This company was established in 2007, and is located in Beverly, MA, with a BBB rating of A+.
They are accredited through:
- IAPDA
Accounts they settle on:
- Credit Cards
- Personal Loans and Lines of Credit
- Medical Bills
- Any other unsecured debts
Accounts they do not settle on:
- No specifications
Settling your debts with Elite Financial Services typically takes anywhere from 3 to 5 years.
They also have a $5,000 minimum debt requirement in order for them to assist you. Once enrolled in the program, their fees are around 13-23% of the total debt enrolled.
Elite Financial Services averages their client a net savings of 45-60% after their fees are subtracted. They are able to negotiate in 20 different states, and they do not have any upfront fees.
Conclusion
Well there you have it! The top 8 debt settlement companies out there and a little bit of what you can expect from working with each one.
Use this information to make a decision on which debt settlement company you’d prefer to work with.
Keep in mind that creditors and collection agencies are notoriously tough to deal with. So having a trustworthy expert on your side can save you a lot of trouble. Not to mention, a lot of money in the long run.
We know that debt can be overwhelming, but with some good guidance, you’ll be out of it in no time.
Have you worked with a debt settlement company that you’d suggest? Let us know in the comments!
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