Best debt relief companies for credit card debt in 2024

Credit cards can play a positive role in personal finance, offering rewards and convenience, but the reality is that carrying a balance can lead to long-term financial stress. If you’re one of the 35% of consumers who carry a balance on credit cards, credit card debt relief can help ease the burden. Below, we’ve done the research on the best credit card debt relief companies to help you gain control of your finances.

The 5 best debt relief companies for credit card debt of September 2024

If you have overwhelming credit card debt, the right debt relief company can help you sleep better at night knowing you’re getting your finances back on track. Here are our top picks for the best credit card debt relief companies. Fees are subject to change, and all figures are current as of Sept. 30, 2024. 

National Debt Relief

Founded in 2009, National Debt Relief has helped 550,000 clients pay off more than $1 billion in unsecured debt, including credit cards. Headquartered in New York City, it helps clients all over the U.S. become debt-free in under 24-48 months on average.

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National Debt Relief

Cost	15-25% of enrolled debt based on debt amount and state of registration
Avg. time to settle debt	24-48 months
Accreditations	AADR

Why we like National Debt Relief for overall best debt relief company

National Debt Relief is one of the most reputable and well-established debt relief companies in the U.S. It negotiates directly with creditors to reduce your credit card debt and aims to help you get debt-free within 24-48 months, depending on how much debt you have.

When you sign up with National Debt Relief, you make payments into a Federal Deposit Insurance Corp. (FDIC) insured savings account. Once this account has built up enough money, it uses it to begin negotiating your debt relief with your creditors. Funds only leave your account once you’ve approved the negotiated amount. 

National Debt Relief fees

With National Debt Relief, you won’t pay anything upfront. You only pay once your debt is settled—25% of the total amount. However, this fee can be as little as 15%, depending on the amount of debt and settlement achieved. This fee amount is built into the monthly payments you make.

Learn more in our full review of National Debt Relief. 

Money Management International

Money Management International was founded in 1997 and is headquartered in Stafford, Texas. Since then, it has  helped millions get out of credit card debt through a debt management plan (DMP). 

Money Management International

Cost	On average, $33 set-up fee and a $25 monthly fee
Avg. time to settle debt	12-60 months
Accreditations	FCAA, NFCC

Why we like Money Management International for nonprofit debt relief

Money Management International (MMI) is a nonprofit organization, meaning it doesn’t have to answer to shareholders or prioritize profit over client well-being. And when you’re a consumer trying to get out of debt, knowing your provider is focused solely on your financial recovery can offer a sense of relief and trust not found in for-profit organizations.

With MMI, you’ll get out of debt using a DMP, which means it will work with creditors to lower your interest rates and obtain a single, consolidated payment. You’re paying your balances in full, and you still have all of your original creditors. MMI is simply the one making the payment with your new, lower interest rate.

Money Management International fees

When paying off your credit card debt through MMI, you’ll pay a fee ranging from $33 to $75 to set up your DMP, and then a monthly fee of $25 to $59. These rates vary by your location and how much debt you’re repaying.

Learn more in our full review of Money Management International.

Accredited Debt Relief

Headquartered in San Diego, and founded in 2011, Accredited Debt Relief has helped more than 500,000 clients resolve more than $1 billion in debt. Its main focus is debt consolidation and settlement services.

Accredited Debt Relief

Cost	25% of enrolled debt
Avg. time to settle debt	24-48 months
Accreditations	AFCC, CDRI

Why we like Accredited Debt Relief for quick credit card relief

With loan terms of four to 48 months, Accredited Debt Relief’s consolidation options range from $1,000 to $100,000. However, most clients have programs of 24 to 48 months. It also has settlement options, where clients end up paying up to 55% less—before fees. After fees, clients typically see a reduction of 25%.

Because Accredited Debt Relief uses a success-based fee structure, you won’t pay anything upfront, and you’ll only pay once it has negotiated a settlement successfully with your credit card company. 

Accredited Debt Relief fees

Fees depend on the debt relief product you sign up for. Loans have annual percentage rates (APRs) from 4.9% to 35.99% as well as loan origination fees of 1% to 6%. For debt settlement, you’ll pay an average of 25%, although this fee is success-based and varies by the amount you have enrolled.

Learn more in our full review of Accredited Debt Relief.

Americor Debt Relief

Americor Debt Relief was founded in 2009 and is headquartered in Irvine, California. It has helped over 200,000 consumers resolve more than $2 billion in debt. It specializes in debt resolution and consolidation.

Americor Debt Relief

Cost	Percentage of the total debt enrolled varies by state
Avg. time to settle debt	24-48 months
Accreditations	AADR

Why we like Americor Debt Relief for large debt amounts

If you have significant credit card debt, Americor Debt Relief can negotiate a settlement of up to 50% of your debt. It has an entire team of expert negotiators to work with creditors, and Americor doesn’t get paid unless it can settle your debt, so it’s in its best interest to work out the best possible deal for you. 

Americor sets up a dedicated savings account where your funds accumulate and, once there’s enough in there to begin negotiation, it will hold those funds until it has reached a settlement agreement that you’re happy with. Only then does Americor get paid.

Americor Debt Relief fees

Americor Debt Relief charges a performance-based fee that ranges from 14% to 29% of the total amount of your debt enrolled. This amount will depend on your total amount enrolled and the negotiated settlement. All of your monthly payments factor in Americor’s fee.

Learn more in our full review of Americor Debt Relief.

Pacific Debt Relief

Pacific Debt Relief planted its roots in 2002 and is based in San Diego. It has helped thousands settle over $500 million in consumer debt and specialize in debt settlement services. 

Pacific Debt Relief

Cost	15-25% of enrolled debt based on debt amount and state of registration
Avg. time to settle debt	24-48 months
Accreditations	CDRI, IAPDA

Why we like Pacific Debt Relief for customer service

When you sign up with Pacific Debt Relief, you receive a dedicated account manager to guide you through the entire debt settlement process from start to finish. It has a wide range of hours, including evenings and weekends, so you can get the help you need even after standard hours.

To qualify for help, you must have at least $10,000 in unsecured debt (credit cards qualify), struggle to make your payments, and live in one of the states it services. To get started, sign up for a free consultation where a certified debt specialist will review your financial situation and outline personalized options for reducing your debt.

Pacific Debt Relief fees

You won’t pay any fees unless debt settlement is successful. This fee ranges from 15% to 25% of the total enrolled debt. As with other debt settlement companies, it opens a savings account for you to deposit your payments into, and this fee factors into your monthly payment.

Learn more in our full review of Pacific Debt Relief.

What to know about credit card debt relief

Credit card debt relief is for those who are struggling with high credit card balances and need a manageable way to pay down their debt. This relief can come in many forms, including debt settlement, debt management plans, and debt consolidation. Each of these varies its approach to tackling this debt. 

For example, with debt settlement, the credit card debt relief company will negotiate directly with creditors on behalf of consumers. They aim to reduce the total amount owed. A debt management plan will consolidate many payments into one single payment, all with the aim of having a lower interest rate. A debt consolidation loan will combine all of your outstanding credit card balances into one loan, preferably with a lower interest rate and a fixed repayment term.

While each of these programs can offer credit card relief, many come with downsides. For example, debt settlement can lower your credit score, and debt consolidation loans often require good credit scores for the best interest rates. Credit card debt is unsecured debt, which means it’s not tied to an asset, such as your car or home, should you default. This means creditors are more likely to negotiate with you if you default and are often more flexible with repayment plans and settlement options compared to secured debt. 

Types of unsecured debt

​​Unsecured debt means your debt isn’t backed by an asset, such as a home or vehicle. Here’s a closer look at the different types of unsecured debt:

• Credit card debt: This is the most common type of unsecured debt and is where a consumer makes a purchase or takes a cash advance and doesn’t pay off the balance in full each month. As this debt isn’t secured by any specific asset, if the consumer defaults, the creditor can’t seize any property to recover what they owe.
• Medical bills: While one may not think of a medical bill as an unsecured loan, consumers do get billed for unpaid expenses, such as hospital visits, surgeries, prescriptions, and other medical services. Because it’s not backed by collateral, it’s unsecured. 
• Personal loan: A personal loan is based on the borrower’s creditworthiness and ability to repay the loan and isn’t backed by a physical asset. So, if the borrower defaults, the lender can’t repossess a property to recoup its losses. 
• Private student loans: Although similar to federal loans, these aren’t backed by physical assets, which makes them unsecured debt. While unsecured, there are still steep repercussions if unpaid, such as wage garnishment. 
• Payday loans: These are short-term, high-interest loans that aren’t backed by any physical property. Instead, consumers repay them with their next paycheck. If they default, there are no real repercussions other than they can’t lend again. 
• Utility bills: Any unpaid utility bills, such as electricity, gas, or water, are unsecured debt—usually. If the consumer defaults, property isn’t seized (unless there’s a deposit), but they can shut off services for nonpayment. 

Secured debt, on the other hand, is a type of debt that’s backed by collateral, such as a home or a car. If the borrower defaults, the lender can seize this collateral to recover the loan. 

Examples include:

• Mortgage: If you default on a mortgage, the lender typically seizes the house via foreclosure. 
• Auto loans: If you stop making payments on an auto loan, the lender can repossess the vehicle. 
• Home equity loans/lines of credit: These are secured by the borrower’s home, which can also result in foreclosure.

How to choose a debt relief company for credit card debt

Choosing the right type of credit card debt relief is the first step, and the next is to narrow it down to the debt relief company that can best help your situation. There are a lot of scammers out there who prey on people desperate for relief, so start by checking credentials and accreditation. The Better Business Bureau (BBB) may provide some fact-checking avenues for you, but organizations, such as the American Fair Credit Council (AFCC) or the International Associate of Professional Debt Arbitrators (IAPDA), may be a better source. This is because members of these organizations are required to adhere to industry standards and ethical practices.

Before signing up for any debt relief program, understand the fees involved. Legitimate companies are transparent in these fees and won’t ask for upfront payment before delivering results. Understand how long the process takes, what the steps are, and what impact it will have on your credit score, and if there are any potential legal ramifications. Here’s a quick list to look out for:

• Accreditation and credentials (BBB, AFCC, and IAPDA)
• Transparent fee structure (no upfront fees)
• Positive customer reviews and testimonials
• Clear timeline for debt relief process
• Impact on credit score explained upfront
• Personalized approach tailored to your financial needs
• Availability in your state

Alternatives to solutions for credit card debt

• Balance transfer credit cards: Some credit cards offer 0% APR for an introductory period—often six to 18 months. However, most have a balance transfer fee, so you’ll need to weigh if it makes financial sense to transfer your balance. Here are the top balance transfer credit cards available.
• Credit counseling: Nonprofit agencies offer credit counseling for free or at a low cost. They can help you figure out your budget, negotiate lower rates with creditors, and set up a repayment plan that fits your situation. They don’t reduce the amount you owe but can help you figure out how to make your repayment more affordable.
• Debt snowball or avalanche programs: The debt snowball method is a repayment strategy that prioritizes paying off the smallest balances first, whereas the debt avalanche method targets the highest-interest debt first. These are done on your own, without any outside assistance.
• Hardship programs: Most credit card issuers offer hardship programs for those who are experiencing temporary difficulties, such as a job loss or medical emergency. These can sometimes reduce interest rates, waive fees, or temporarily defer payments.
• Government assistance for specific groups: The Department of Veterans Affairs (VA) offers financial counseling and can provide resources for debt management. Seniors may get help from nonprofits, such as the National Council on Aging (NCOA) for help with credit card debt or management.
• Selling assets or downsizing: Selling extra vehicles or unused property can help pay down credit card balances. Downsizing to a smaller living arrangement can also help reduce these monthly expenses and free up money for debt repayment. 
• Side hustles: When you’ve paired down all of your expenses, sometimes the only answer is to increase your income. Taking side jobs, freelancing, or doing gig work, such as Uber or Instacart can help you make extra payments toward your debt. 

Our methodology 

To determine the five best debt relief companies for credit card debt, our team did a thorough qualitative analysis of dozens of debt relief companies. We analyzed the services offered, its published track record, industry reputation, customer reviews, accreditations, and its customer service.

Consumer Reviews (40%): What actual consumers have to say about their experience with a debt relief company is taken into account heavily because dealing with the stress of debt cannot be understated. We looked at a number of consumer review sites, such as BBB, Trustpilot, and Google Reviews, to compile the score.

Costs (30%): Anyone looking for debt relief should be focused on how much it will cost them to reduce their debt because, after all, it has to be worth it. That’s why we heavily weigh costs in our methodology.

Average time to settle debt (20%): Anyone with mounting debt should be concerned with how long it takes to settle and achieve debt-free financial freedom.

Free consultation (5%): All debt relief companies should not charge you for your first consultation. It is against the laws of the FTC for them to take any upfront fees. 

Accreditations and types of debt services (5%): There are several relevant accreditations that debt relief companies can have. Those badges indicate the debt relief company is trained properly to offer you sound advice on how to manage or reduce your debts. We also weighed the types of debt services each company provides, such as debt settlement and debt consolidation.

Frequently asked questions