Thursday, June 1st
2023 Debt Consolidation Company Reviews
National Debt Relief
- Free initial consultation
- Fees based on amount of debt saved
- New Customers: 1-888-919-1355
- Should owe at least $7,500 in unsecured debt
- Average savings of 50%, or 30% after NDR fees
- Plans typically range from 24-48 months
- "A+" rated and accredited by the BBB
- Over 10 years in business
- 100% satisfaction guarantee
National Debt Relief has helped over 500,000 people to consolidate their debt by negotiating much lower payments with creditors. You'll pay a low monthly fee based on your total amount of enrolled debt while the company goes to work on your behalf. You won't find any other debt consolidation option with over 80,000 five-star reviews from satisfied clients! National Debt Relief should be the first place you go to schedule a free consultation and get on top of your finances.
American Debt Enders
- Available for consumers with debt of at least $5,500
- Can be used for any type of unsecured debt except IRS issues, federal student loans, or payday loans
- Most debt dispute programs take 2-3 years to complete
- Fees depend on the amount of debt and the consolidation resolution selected
- Initial consultation is free
American Debt Enders doesn't offer debt consolidation per se. Instead, they work on disputing debts that have been sold by your creditors to third-party collections. Your initial consultation is free, and any fees will depend on the amount of your debt and the strategy put in place to address it. This service doesn't offer as many options as other providers, and they're not as professional either. You'll probably have a more satisfying experience with another debt consolidation program.
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The 12 Best Debt Consolidation Companies
Who is the Best Debt Consolidation Company?
Maybe you've gotten overwhelmed by credit card payments and overdue bills, and now you're wondering if there's any light at the end of the tunnel. Or, perhaps you're a financially-savvy consumer who wants to take advantage of lower interest rates, in order to pay off your mounting credit cards bills. Debt consolidation can be a smart strategy either way.
What, exactly, is debt consolidation? It's important to understand that companies offering it may mean different things. For some, debt consolidation is offered as a personal loan: you borrow funds that you use to pay off all of your outstanding debts. Your interest rate should be much lower than your credit cards, and now you've got a simplified, single payment to make each month. This can be a great way to boost your credit score by reducing the likelihood of making late payments (or none at all) and get on your feet again financially. On the other hand, you're in charge of using your loan money responsibly - and not to buy things you don't need!
Debt Consolidation Company FAQ
Continued from above...
Other providers of debt consolidation take a more hands-on approach, giving you credit counseling and even going to bat for you with your creditors. The services they provide may include negotiating a lower debt amount or getting your debt forgiven altogether! You might pay a monthly fee for this kind of debt consolidation, or it might be a flat fee based on how much money they saved you overall.
Either route you choose, there are a lot of options out there. How can you decide which one is right for you? Keep these points in mind as you weigh out the possibilities:
- Approach. Is the debt consolidation accomplished by a personal loan that you have to pass along to your creditors, or is it a more involved strategy? Which one is more likely to leave you better off financially?
- Education. What does the company offer to teach you how to make good financial decisions? Does the service make sure you understand what you're getting into with their approach?
- Eligibility Requirements. Do you qualify for debt consolidation? Some programs require you to have $5,000 or more in unsecured debts. For consolidation via personal loans, you'll pay more in interest if you don't have a decent credit history already, or you may not be approved for a loan.
- Fees. How much will you pay for your debt consolidation? If it's a loan, what's the interest rate and are there any origination fees? If it's a debt settlement strategy, what will your fees be and when will you have to pay them?
- Reputation. What do clients say about the debt consolidation company? Did they get help that was appropriate for their situation from knowledgeable, friendly representatives? Has the Better Business Bureau rated the service? Do people report a significant improvement in their finances after (or preferably while) using the debt consolidation program?
TopConsumerReviews.com has evaluated and ranked the best debt consolidation options available today. We're confident that this information will help you choose a strategy to pay down your debts and get your finances in order!
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