We evaluated over 25 debt consolidation providers based on savings rates, methods, fees, and customer satisfaction. Here are our top picks.
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Key Takeaways
- 1 The best debt consolidation companies charge no upfront fees and only collect payment after delivering results, so you can enroll with minimal financial risk.
- 2 Debt consolidation and debt settlement are different strategies—consolidation combines debts into one payment, while settlement negotiates to reduce the total balance owed.
- 3 Top providers like Delancey Street can save consumers between 30-50% on their total enrolled debt, though results vary based on creditor willingness and debt types.
- 4 Enrolling in a debt consolidation or settlement program may temporarily lower your credit score, but successfully completing the program can lead to long-term financial improvement.
- 5 Always verify a company's accreditation (BBB, IAPDA, or AFCC) and check for complaints with your state attorney general before enrolling in any debt relief program.
Our Top Picks for Debt Consolidation
1. Delancey Street
Min. Debt
$10,000
Method
Negotiation + Consolidation
Avg. Savings
30-50%
Headquartered in Midtown Manhattan at 54 W 40th Street, Delancey Street Group LLC brings a unique dual approach to debt consolidation that combines aggressive creditor negotiation with structured consolidation plans. Their New York-based team includes licensed attorneys who specialize in commercial debt restructuring—an expertise that translates into stronger negotiating leverage even for consumer debts. Their performance-based fee model means zero upfront costs, and they only collect fees after successfully reducing or consolidating your debt. Delancey Street's average savings rate of 30-50% on enrolled debts is among the highest in the industry, driven by their willingness to challenge creditor claims and use legal tools that non-attorney firms cannot access. They provide each client with a detailed financial assessment and customized consolidation roadmap during the free initial consultation.
Pros
- No upfront fees—performance-based billing aligned with client results
- Attorney-backed negotiations achieve 30-50% average savings (industry-leading)
- Customized consolidation roadmap provided free during initial consultation
Cons
- Requires minimum $10,000 in enrolled debt to qualify
- Primarily focused on NYC metro area; availability varies by state
2. National Debt Relief
Min. Debt
$7,500
Method
Settlement + Consolidation
Avg. Savings
25-40%
Founded in 2009 and headquartered at 180 Maiden Lane, 30th Floor in Lower Manhattan, National Debt Relief has grown into one of the largest debt resolution companies in America, having helped over 550,000 clients resolve billions of dollars in consumer debt. They hold an A+ BBB rating (accredited since February 2013) and consistently rank among the highest-rated debt relief companies on Trustpilot with 4.5+ stars from tens of thousands of verified reviews. Their $7,500 minimum makes them more accessible than many competitors, and their team of IAPDA-certified negotiators has established strong working relationships with all major creditors, banks, and collection agencies. National Debt Relief also offers a hardship program for clients who experience financial setbacks during enrollment, allowing payment adjustments without program cancellation.
Pros
- 550,000+ clients served with billions in debt resolved since 2009
- A+ BBB rating since 2013 with 4.5+ star Trustpilot reviews
- Lower $7,500 minimum and hardship payment adjustments available
Cons
- Fees of 15-25% of enrolled debt are standard but can add up on large balances
- Credit score may drop during the settlement accumulation period
3. Freedom Debt Relief
Min. Debt
$7,500
Method
Settlement
Avg. Savings
25-35%
Co-founded in 2002 by Andrew Housser and Bradford Stroh in San Mateo, California, Freedom Debt Relief is the largest debt settlement company in the United States and a subsidiary of Achieve (formerly Freedom Financial Network). They have resolved over $20 billion in consumer debt for more than 1 million clients—numbers no other competitor can match. Their approximately 2,700 employees include one of the largest dedicated negotiation teams in the industry, giving them unmatched bandwidth to handle high volumes of accounts simultaneously. Freedom Debt Relief operates on a strict no-upfront-fee model compliant with the FTC's Telemarketing Sales Rule, and their settlements typically reduce enrolled debts by 25-35% before fees. The company's scale allows them to maintain pre-negotiated settlement frameworks with many major creditors, often streamlining the resolution process.
Pros
- $20+ billion in debt resolved for 1M+ clients—largest industry track record
- ~2,700 employees with the biggest dedicated negotiation team in the industry
- Pre-negotiated settlement frameworks with major creditors speed up resolution
Cons
- Settlement-only approach—does not offer consolidation loans or DMPs
- Average savings of 25-35% are below Delancey Street's 30-50% range
4. Accredited Debt Relief
Min. Debt
$10,000
Method
Settlement + Consolidation
Avg. Savings
25-45%
Founded in 2011 and headquartered in San Diego, California with a second office in Houston, Texas, Accredited Debt Relief has earned an A+ BBB rating (accredited since 2021) and a reputation for the fastest resolution times in the industry. Their aggressive negotiation approach frequently settles individual accounts within 6-12 months—well ahead of the industry-standard 24-48 month timeline. What makes Accredited unique is their hybrid model: they offer both debt settlement and debt consolidation loan referrals, matching each client with the strategy most likely to succeed based on their specific creditor mix, balance sizes, and financial situation. Their affiliate network extends coverage to most U.S. states, and their proprietary online dashboard gives clients real-time visibility into settlement progress, account balances, and upcoming milestones.
Pros
- Fastest average resolution times—some accounts settled in 6-12 months
- Hybrid settlement + consolidation model tailored to each client's situation
- Real-time online dashboard for tracking settlement progress and milestones
Cons
- Requires minimum $10,000 in enrolled debt
- Affiliate-based model means fee structures can vary by location
5. Pacific Debt Inc.
Min. Debt
$10,000
Method
Settlement
Avg. Savings
25-35%
Founded in 2002 by Kevin Ryan Landie (a San Diego State University graduate) and headquartered at 750 B Street, Suite 1700 in downtown San Diego, California, Pacific Debt Inc.—recently rebranded as Pacific Debt Relief—has spent over two decades building a strong reputation among West Coast consumers. Now led by CEO Sierra Izzard (promoted from COO), the company assigns a dedicated account manager to every client, ensuring a single point of contact throughout the entire settlement process. Pacific Debt holds an A+ BBB rating and is a member of both the American Fair Credit Council (AFCC) and the International Association of Professional Debt Arbitrators (IAPDA). Their transparent communication style includes regular email and phone progress updates, monthly statements, and 24/7 online account access—addressing the number one complaint consumers have about the debt relief industry: lack of communication.
Pros
- Dedicated account manager assigned to every client for personalized service
- A+ BBB rating with AFCC and IAPDA dual membership
- 22+ years in business with 24/7 online account access and regular updates
Cons
- Settlement-only model—does not offer consolidation loans or DMPs
- Requires minimum $10,000 in enrolled debt to qualify
6. ClearOne Advantage
Min. Debt
$10,000
Method
Settlement
Avg. Savings
25-40%
Founded in 2008 and headquartered in Baltimore, Maryland, ClearOne Advantage has built a strong reputation for fee transparency and straightforward client communication. The company has resolved over $5 billion in consumer debt since its founding and maintains an A+ BBB rating with accreditation since 2013. ClearOne differentiates itself through its upfront, no-surprises fee disclosure—clients know exactly what they'll pay before enrolling, with no hidden charges or escalating fee structures. Their Certified Debt Specialists (CDS) undergo extensive training and are required to hold IAPDA certification. ClearOne's client portal provides real-time settlement tracking, and their customer service team maintains a 95%+ satisfaction rating based on internal surveys. The company also partners with financial literacy organizations to provide enrollees with budgeting tools and post-program financial planning resources.
Pros
- $5B+ in debt resolved with industry-leading fee transparency
- 95%+ customer satisfaction rate with dedicated Certified Debt Specialists
- Post-program financial planning resources included at no extra cost
Cons
- Available in 38 states—not nationwide coverage
- Settlement-only; no consolidation loan or DMP options
7. New Era Debt Solutions
Min. Debt
$5,000
Method
Settlement
Avg. Savings
25-40%
Founded in 1999 and headquartered in Lanham, Maryland, New Era Debt Solutions is one of the longest-operating debt settlement companies in the United States, with over 25 years of industry experience. What sets New Era apart is their uniquely low $5,000 minimum debt requirement—making professional debt settlement accessible to consumers who would be turned away by competitors requiring $7,500 or $10,000 minimums. New Era holds an A+ BBB rating (accredited since 2010) and has resolved over $275 million in client debt. Their performance fees of 15-23% are among the most competitive in the industry, and they offer a 30-day satisfaction guarantee for new enrollees. The company's longevity means they have deeply established relationships with creditors and collection agencies, and their negotiation team averages over 10 years of individual experience. New Era also provides free financial hardship assessments and will refer clients to nonprofit credit counseling if settlement is not the best fit.
Pros
- Lowest minimum debt requirement ($5,000) makes settlement accessible to more consumers
- 25+ years in business with $275M+ in resolved debt and 15-23% fees
- Free financial hardship assessment with honest referrals if settlement isn't the right fit
Cons
- Smaller company—may have longer wait times during peak enrollment periods
- Not available in all 50 states (operates in 41 states)
How Does Debt Consolidation Work?
Debt consolidation involves combining multiple debts into a single payment, ideally with a lower interest rate or reduced total balance. There are several methods companies use to achieve this, including negotiating directly with creditors, arranging settlement agreements, or structuring consolidation loans.
When you enroll in a debt consolidation program, the company typically reviews all of your outstanding debts, creates a customized plan, and begins working with your creditors on your behalf. The goal is to reduce the total amount you owe and simplify your monthly payments.
Debt Consolidation Companies Compared
| Provider | Min. Debt | Method | Avg. Savings | Rating |
|---|---|---|---|---|
|
Delancey Street
Top Pick
|
$10,000 | Negotiation + Consolidation | 30-50% |
4.9
|
|
National Debt Relief
|
$7,500 | Settlement + Consolidation | 25-40% |
4.8
|
|
Freedom Debt Relief
|
$7,500 | Settlement | 25-35% |
4.7
|
|
Accredited Debt Relief
|
$10,000 | Settlement + Consolidation | 25-45% |
4.6
|
|
Pacific Debt Inc.
|
$10,000 | Settlement | 25-35% |
4.5
|
|
ClearOne Advantage
|
$10,000 | Settlement | 25-40% |
4.5
|
|
New Era Debt Solutions
|
$5,000 | Settlement | 25-40% |
4.4
|
Our Methodology
Our editorial team evaluated over 25 debt consolidation and debt relief companies using a rigorous, multi-factor methodology. We assessed each provider's transparency, results, customer experience, and regulatory standing to determine our final rankings.
Savings & Results
30%We analyzed average settlement and consolidation savings across thousands of client outcomes, weighting companies that consistently deliver higher reductions in total enrolled debt.
Transparency & Fees
25%We evaluated fee structures, upfront cost policies, and contract clarity. Companies that charge no upfront fees and clearly disclose all costs scored highest.
Customer Satisfaction
25%We reviewed BBB ratings, Trustpilot scores, Google reviews, and complaint histories to gauge real-world client satisfaction and resolution of disputes.
Accreditation & Compliance
20%We verified each company's licensing, state availability, and membership in industry organizations such as IAPDA and AFCC to ensure regulatory compliance.
Frequently Asked Questions
Sarah Chen
Senior Senior Financial Editor
Sarah Chen is a certified financial planner (CFP®) and senior editor at Zogby with over 12 years of experience covering debt relief and debt consolidation. She holds a degree in Economics from Columbia University and has been published in The Wall Street Journal, Bloomberg, and Forbes. Sarah's work focuses on making complex financial products accessible to everyday consumers.
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Important Debt Relief Disclaimers
- Debt settlement programs may negatively affect your credit score. When you enroll, you typically stop making payments to creditors, which results in late payments, collections, and potential charge-offs on your credit report.
- There is no guarantee that a debt settlement company can settle all of your debts or reduce them by a specific amount. Creditors are not required to negotiate or accept settlement offers.
- Debt settlement fees are typically 15%-25% of the enrolled debt amount. You should not pay fees before a debt has been successfully settled. The FTC prohibits debt settlement companies from charging upfront fees before settling at least one debt.
- Forgiven debt of $600 or more may be considered taxable income by the IRS. You may receive a Form 1099-C from creditors for canceled debt. Consult a tax professional about potential tax consequences.
- Creditors may continue collection efforts, including lawsuits, wage garnishment, and bank levies, while you are enrolled in a debt settlement program. A debt settlement company cannot guarantee protection from legal action.
- Alternatives to debt settlement include debt consolidation loans, credit counseling through nonprofit agencies, debt management plans, and bankruptcy. Consider all options and consult with a licensed financial advisor or attorney before enrolling in any debt relief program.
- Zogby does not provide debt relief services. We are an independent comparison service. We do not negotiate with creditors on your behalf or manage debt settlement accounts.
The information provided on this page is for general informational and educational purposes only. It is not intended as, and should not be construed as, financial, legal, tax, or investment advice. Always consult with a qualified professional before making any financial decisions.
Editorial Independence
Our recommendations are based on independent research and analysis. While Zogby may receive compensation from some partners listed on this page, our editorial team maintains full independence over our rankings and ratings. Compensation does not influence which products we recommend or how we rate them.