Top 5 Debt Settlement Programs of 2023

Top 5 Debt Settlement Programs of 2023

* This is not a financial advice article. Please speak with a financial advisor if you need financial assistance.

(Ad) If you’re struggling with debt, there’s a variety of debt relief companies and debt settlement programs that can help get your credit back on track. The best debt settlement companies can help you avoid bankruptcy, get out of debt faster, and settle your debt for less than what you owe. 

But with so many debt relief options to choose from, picking the right debt settlement company isn’t easy. While some companies specialize in debt settlement, others offer additional services such as debt management plans, credit counseling, and debt consolidation.

To help you find the best debt settlement company, we’ve reviewed the best debt relief programs in the industry. We rated each debt resolution service on factors such as fees, reviews, minimum debt amount, company reputation, and average repayment period.

Here are our picks for the best debt settlement services of 2023.

The 5 Best Debt Relief Companies of 2023

#1. National Debt Relief: Best Company Overall

national debt relief

National Debt Relief is our top choice for the best debt relief company of 2023. National Debt Relief has more than 13 years of experience in the debt relief industry and has a proven track record of success, with hundreds of thousands of clients.

Company Background

National Debt Relief has been providing debt settlement services since 2009 and has helped more than 400,000 people become debt-free. As one of the most reputable debt settlement companies in the United States, National Debt Relief has an A+ rating with the Better Business Bureau and is an accredited American Fair Credit Council member. They have over 35,000 reviews on Trustpilot and have an excellent rating.

Services Offered

National Debt Relief can help with most types of unsecured debt including credit cards, personal loans, lines of credit, and medical bills. They have experience negotiating for a debt settlement with most major credit card issuers and banks. National Debt Relief can also help with collections, repossessions, business debt, and certain student debt.

How the Process Works

To get started with National Debt Relief, you first have to sign-up for a free consultation through their online form (link below). One of their debt experts will listen to your situation and explain your debt relief options. They’ll then create an affordable debt relief program that fits your budget.

National Debt Relief does not charge any fees for their services until you approve the debt settlement agreement and your unsecured debts are settled. Unlike other debt relief programs, there are no sign-up fees, no cancellation fees, and no obligation. Once the debt settlement process is complete, the average client pays a fee of 15-25{d0229a57248bc83f80dcf53d285ae037b39e8d57980e4e23347103bb2289e3f9} of the total debt enrolled, which is included as part of your monthly payment. If National Debt Relief is unable to settle your debt, you don’t have to pay anything.

Altogether, National Debt Relief is one of the best debt relief companies in the industry. Their personalized debt relief services are a better option than debt consolidation, credit counseling, or just paying the minimum monthly payments.

  • One of the most highly rated debt settlement firms
  • No upfront fees
  • Personalized debt management plan to fit your budget
  • $10,000 minimum in total enrolled debt
  • Great for debt from payday loans, unsecured personal loans, and credit cards
  • Free no-obligation consultation

Click Here to Get A Free Consultation With National Debt Relief

#2. Accredited Debt Relief: Best for Personal Credit Card Debt

accredited debt relief

Accredited Debt Relief is one of the best debt settlement companies, and it may reduce your total debt by up to 50{d0229a57248bc83f80dcf53d285ae037b39e8d57980e4e23347103bb2289e3f9}. If you are looking to avoid filing for bankruptcy while becoming debt-free in 12 to 24 months, this debt settlement company may be a viable option.

Company Background

With over 140,000 active clients and an A+ rating with the Better Business Bureau, Accredited Debt Relief is one of the leading debt review companies in the United States. This San Diego-based debt settlement company has American Fair Credit Council accreditation and has been providing professional debt solutions to Americans since 2011.

Services Offered

The services Accredited Debt Relief offers are available to anyone with a minimum of $7,500 in total enrolled debt. However, you will derive optimal benefit from this debt-management program if you have more than $10,000 in unpaid and unsecured debt.

Accredited Debt Relief offers a wide range of debt solutions, including debt settlement, consolidation loans, credit counseling, and bankruptcy. The debt settlement solutions aim to reduce most types of unsecured debt, including credit card debt, personal loans, medical bills, and business debt. This debt settlement service doesn’t cover tax debts, government student loans, and mortgages.

How the Process Works

Accredited Debt Relief has a relatively straightforward debt settlement process. To help settle your debts, call one of the company’s credit counselors for a free consultation. During this consultation, the consultant will ask questions to gain insight into your financial situation.

Then, the consultant will calculate your monthly payment toward paying down your debts, given your income, outstanding debt, and financial goals. After formulating a custom debt settlement program, the consultant will open a savings account for you; you will also need to stop using your lines of credit from this point.

Accredited Debt Relief will negotiate a debt settlement with the debt collectors when you have sufficient funds in your escrow (savings) account.

Unique features Accredited Debt Relief offers include:

  • No upfront fees
  • Customizable debt settlement programs
  • Debt resolution for most types of unsecured debt
  • Debt-consolidation loan options

Click Here to Get A Free Consultation With Accredited Debt Relief

#3. Community Tax: Best for Tax Debt

community tax

If you need tax debt relief, Community Tax is among the top debt relief companies to consider. This company offers a wide range of tax services, including representing you in negotiations with the IRS.

Company Background

Community Tax has been providing clients with tax-relief solutions since 2010 and has settled over $800 million in tax debts. The company has an A+ rating with the Better Business Bureau and is an authorized partner of Consumer Affairs with a five-star rating.

Services Offered

If you are going through financial difficulty, you might qualify for an offer-in-compromise (OIC). According to the Internal Revenue Service, an OIC allows taxpayers to settle their tax obligations for less than the total amount they owe. However, most taxpayers who negotiate OICs on their own don’t get approval.

Community Tax can help you apply for an OIC and submit your application correctly the first time, increasing the likelihood of a successful outcome. Other services Community Tax offers include assistance with penalty abatements, payroll tax negotiations, and a tax assurance program to ensure compliance with the IRS.

If you meet specific requirements, Community Tax can help you declare a financial hardship, relieving you of your IRS debt.

How the Process Works

If you want to sign up for the company’s tax debt relief programs, you can contact them by phone to schedule a free consultation and see if you qualify for an offer-in-compromise or “currently not collectable” status.

You can also go online to see if you qualify: visit the Community Tax website and select the type of taxes you owe and the amount you owe from the dropdown menus. A debt counselor will contact you and recommend the most effective tax debt solutions for your situation. The tax types available are IRS and state tax—the company doesn’t provide debt relief for unsecured debts, such as credit card debt, medical bills, and personal loans.

Community Tax offers a wide range of unique benefits:

  • A money-back guarantee
  • Tax-specific debt solutions
  • Representation during IRS interactions
  • Personalized tax debt-management programs

Click Here to Get A Free Consultation With Community Tax

#4. Freedom Debt Relief: Best Program for Medical Debt

freedom debt relief

With 650,000 active clients and 2,000 employees, Freedom Debt Relief is California’s largest debt settlement company. Freedom Debt Relief is the firm to consider, whether you want to settle a private student loan or find a solution to any other form of unsecured debt.

Company Background

Freedom Debt Relief is a founding member of the American Fair Credit Council and has been active in the debt settlement industry since 2002. Today, the company is a platinum member of the International Association of Professional Debt Arbitrators and has resolved more than $10 billion in debt since it opened for business.

Services Offered

Freedom Debt Relief offers custom debt settlement programs for various types of debt, provided that the debt has no guarantor protection or collateral backing. So if you have unsecured debts, such as credit card debt, medical bills, or department store debt, Freedom Debt Relief may be able to provide you with a debt settlement solution. Freedom Debt Relief can also implement a debt settlement program to settle private student loans and some types of business debts.

To qualify for a debt relief program from Freedom Debt Relief, you need at least $7,500 in total enrolled debt. Freedom Debt Relief doesn’t settle auto loans, federal student loans, or mortgages.

How the Process Works

To schedule a free consultation with one of the professional consultants at Freedom Debt Relief, visit the company’s website, then click the “See if You Qualify” button. The website will take you through the qualifications process, which involves entering your debt amount, state, name, and contact details. Then, you can view your results and request a consultation.

During the consultation, the debt settlement consultant will evaluate your debt obligation and financial situation and recommend a solution that fits your needs. Then, the company will open a FDIC-insured account, allowing you to accumulate savings. Once you have sufficient funds in the account, the firm will negotiate with your creditors to reach a debt settlement.

This debt settlement firm offers several unique points of value:

  • No upfront fees
  • Online dashboard for monitoring settlement progress
  • Debt-obligation reductions of up to 75{d0229a57248bc83f80dcf53d285ae037b39e8d57980e4e23347103bb2289e3f9}
  • Personalized debt settlement programs

Click Here to Get A Free Consultation With Freedom Debt Relief

How Do Debt Settlement Companies Work?

A debt relief company is a business that charges clients a fee for negotiating debt settlement on their behalf with credit card companies and other creditors. It usually provides other debt relief services, as well. The objective of a debt settlement program is to get creditors to settle for a portion of the debt balance, making it easier for you to repay your personal debt and other types of debt.

After you sign up for debt settlement and before negotiating with your creditor, the debt settlement company will typically set up a savings account for you. Then, the company will instruct you to stop your debt payments to the creditor and make specific monthly payments into your savings account. When the balance in your savings account equals the portion of your debt you want to repay, the debt settlement company will approach your creditor as your representative.

The debt relief company will ask your creditor to settle for the one-off partial repayment of your debt obligation, as an alternative to receiving no payment should you file for bankruptcy. Then, the debt relief company will withdraw the funds from your savings account and use it to pay your debt obligation.

If the debt relief company successfully negotiates with your creditor, they will keep a percentage of your debt as a service payment. Some debt relief companies also charge fees for opening and maintaining their clients’ savings accounts. Debt relief companies’ services are only available to those who qualify to enroll in debt-management plans, such as a debt settlement program.

Other services that debt relief companies offer include debt counseling, debt management plans, and bankruptcy filing assistance. We discuss these additional credit services in more detail below.

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How We Ranked the Best Debt Settlement Companies

Most debt settlement companies offer a standard debt relief service that includes consultations, account setup, sending debt settlement letters, and negotiating with creditors on the client’s behalf. However, not all debt settlement companies are reputable and offer a transparent service, as the Federal Trade Commission often warns. The terms of a company’s service might also not be to your benefit, even if it manages to negotiate a lower debt settlement on your behalf.

To compile this list of the best debt settlement companies, we considered various factors, including their service offerings, accreditation, minimum unsecured debt required, and debt settlement process. When looking for the best debt relief companies, we recommend considering these aspects carefully.

Minimum Debt Requirement

The majority of debt relief companies will only agree to settle your debts if your total unsecured debt obligation is over a specific amount. For example, Accredited Debt Relief will only qualify a new client for the debt settlement service if the client’s total debt-enrollment in the program is $7,500 or more. If you approach this debt relief company to settle your debts, and your total debt enrollment is, say, $7,000, you will not qualify for their program.

Most debt settlement companies charge a fee that is a percentage of their client’s total debt enrollment. By listing a minimum debt requirement, these debt relief companies establish a minimum fee to settle debts.


Accreditation from independent consumer and regulatory organizations can provide valuable insights into a debt settlement company’s reputation, quality of service, and transparency. The standards that debt relief companies need to meet to become accredited depend on the accrediting organization body and the industry they serve.

When evaluating the best debt settlement companies, carefully consider their accreditations and ratings. For example, the Better Business Bureau aims to promote marketplace trust and rates debt relief companies according to their performance and trustworthiness. A company that is a member of the American Fair Credit Council should adhere to the council’s high standards and best practices while promoting the consumer rights of Americans with high debt obligations.


Reviews from people who have used the services of a debt settlement company can provide valuable insights into different aspects of the program, including the debt settlement timeframe, communication quality, and potential outcome. A review can also highlight issues, such as hidden fees, credit score problems, and poor debt settlement outcomes.

Client reviews on online platforms are generally reliable sources of information, as they come from people who paid for these services and want others to benefit from their experience. Popular review platforms include Google, Trustpilot, Consumer Affairs, and the Better Business Bureau.

Reviews from paying clients played an integral role in compiling this list of the best debt settlement companies.                                                                                                                                                                            

Services Offered

All the companies we included in this review guide offer some form of debt settlement service. Some of the debt relief companies on our list also offer other debt-management solutions, such as debt counseling or debt-consolidation loans.

Conventional settlement solutions focus on unsecured debts, such as credit card debt, personal loans, and medical bills. However, some debt relief companies offer specialized debt settlement solutions, such as Community Tax, which only assists with state and federal taxes. Generally speaking, debt settlement companies don’t have programs for secured debts, as the lenders in these agreements have access to collateral that they can use to settle the debts.

Cost and Fees

According to the Federal Trade Commission rules, debt settlement companies may not charge up-front fees. However, some debt companies might not disclose all their fees, and you need to carefully consider a company’s fee structure before signing up for its services. These companies typically offer free consultations to determine if prospective clients are viable candidates for debt settlement plans.

After you sign up for a settlement service, the best debt relief companies won’t charge any fees before successfully negotiating the settlement with your creditors. Should the debt relief company settle the debt with your debtors, they will charge a percentage of the debt you enrolled in the program.

Some companies might charge additional fees for setting up an account or providing additional consulting services.

Alternatives to Debt Relief Programs

Settling debts is only one form of debt relief— there are multiple other ways to address a problematic debt obligation affecting your financial well-being. Marketing materials, online articles, and other sources often use terms like “credit settlement,” “debt consolidation,” and “debt relief” interchangeably, even though there are significant differences between these services.

Credit settlement and all the debt services described below fall under the umbrella of “debt relief.” However, a debt relief company might only offer credit settlement as a service. The sections below discuss other debt relief alternatives.

Debt-Consolidation Loans