Get Out of Debt — For Real.
Compare debt settlement, consolidation, and restructuring programs side by side. Find the path that actually fits your situation.
Compare Debt Relief Options
| Option | How It Works | Credit Impact | Best For | Min. Debt |
|---|---|---|---|---|
|
Debt Settlement
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|
Negotiate to pay less than you owe. You stop paying creditors and save up for lump-sum offers. | Negative | High unsecured debt, hardship | $7,500+ |
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Debt Consolidation
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Merge multiple debts into one new loan at a lower rate. You still repay everything. | Positive/Neutral | Good credit, manageable debt | Any |
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Credit Counseling
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A nonprofit agency negotiates lower interest rates and puts you on a structured payment plan. | Neutral | Needs budgeting help | Any |
|
Bankruptcy
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|
Court-supervised process that wipes out or restructures debts you cannot pay. | Severe | Extreme hardship | Varies |
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Best Debt Relief Companies of 2025
Delancey Street
Our top pick for settlement. Fees are clear, the service team actually picks up the phone, and the results line up with what they promised.
Min. Debt
$10,000
Est. Fees
15-25%
BBB
A+
CuraDebt
Solid credit counseling and debt management, and their enrollment minimum is one of the lowest you'll find.
Min. Debt
$5,000
Est. Fees
20%
BBB
A+
Accredited Debt Relief
IAPDA-accredited with steady results across a wide range of debt amounts. Nothing flashy, but they get it done.
Min. Debt
$10,000
Est. Fees
15-25%
BBB
A+
Understanding Your Debt Relief Options
Debt Settlement vs. Debt Consolidation: What's the Difference?
One cuts what you owe. The other combines debts into a single payment. How to pick the right one.
Read MoreHow Debt Settlement Affects Your Credit Score
The short-term hit, the long-term recovery, and what your score actually looks like 2 years out.
Read MoreIs Debt Relief a Scam? How to Spot Red Flags
The FTC banned upfront fees for a reason. Separating real companies from outright fraud.
Read MoreState-by-State Debt Relief Regulations
Rules vary wildly by state. Know what protections you have before signing anything.
Read MoreMCA Debt Relief: What Business Owners Need to Know
Merchant cash advance debt requires a different playbook. What actually works and what doesn't.
Read MoreHow to Negotiate Debt on Your Own
A step-by-step walkthrough for calling creditors directly and settling without paying a company.
Read MoreFrequently Asked Questions
Depends on the type. Settlement and bankruptcy will hit your credit -- expect that mark to stay for 7-10 years. Consolidation through a new loan can actually help your score if you make payments on time. Credit counseling and debt management plans tend to have a neutral to slightly positive effect over time.
Most companies charge 15-25% of your total enrolled debt. On $30,000 enrolled, that is $4,500-$7,500 in fees. By FTC rule, they can only collect after actually settling at least one debt. If someone asks for money upfront, walk away.
Absolutely. Call the creditor's hardship department, explain your situation, and propose a number -- typically 30-50% of the balance. Get the agreement in writing before you send a penny. You skip the 15-25% fee that settlement companies charge, but you do all the work yourself.
Some of it is. But legitimate companies exist -- they never charge upfront fees (illegal under FTC rules), they are upfront about costs and timelines, and they carry verifiable BBB ratings and IAPDA accreditation. Be skeptical of anyone who guarantees specific results or tries to rush you into signing.
Economic Snapshot
Source: Federal Reserve Economic Data (FRED). Indicators refresh daily.
Consumer Protection & Debt News
Apr 17, 2026Holding Government Contractors Accountable for Wrongdoing
Jan 21, 2025Argus Information and Advisory Services, a subsidiary of TransUnion, has agreed in writing that it will not seek any government contract with the Consumer Financial Protection Bureau for three years.
Blog | Consumer Financial Protection BureauStrengthening Appraisal Oversight: Progress at the Appraisal Subcommittee
Jan 17, 2025CFPB Deputy Director Zixta Martinez discusses changes at the ASC since she became Chair in 2022, including enhanced state oversight, landmark hearings on appraisal bias, and improved collaboration with The Appraisal Foundation to create a more equitable and accountable appraisal industry.
Blog | Consumer Financial Protection BureauBack from the Dead: Zombie Second Mortgages
Jan 17, 2025Forgotten second mortgages may be coming back to haunt homeowners who haven’t received notices or account statements for years.
Blog | Consumer Financial Protection BureauHeadlines sourced from government agencies and legal publications. Updated every 12 hours.
Did You Know?
Balance transfer cards with 0% APR introductory periods can save thousands in interest if the balance is paid off before the period ends.
Nonprofit credit counseling agencies are required to provide free initial consultations under NFCC accreditation standards.
MCA (merchant cash advance) debt has exploded — the industry grew from $10B to over $25B between 2020 and 2025.
Nearly 1 in 3 American adults has debt in collections, according to the Urban Institute.