These are the top debt consolidation programs on the market today. Read on for in-depth details on features, plans, and pricing.
Freedom Debt Relief (FDR) is one of the largest debt settlement providers in the United States. Since 2002, it has helped settle more than $10 billion in unsecured debt. FDR always keeps you in the loop with an online dashboard that shows you the progress of negotiations and repayments. Being such a large agency has its benefits, with some customers saving 25-30% (after fees).
Accredited Debt Relief is a reputable debt relief service that helps you get your life back after falling into debt. Not a direct debt settlement service, Accredited Debt Relief partners with a network of debt relief services to help you find the best channels for managing your debt. In addition to debt relief, Accredited Debt Relief offers bankruptcy and debt consolidation as well.
Accredited Debt Relief offers dependability, something that other debt relief services can’t provide. In fact, Accredited has an A+ rating with the Better Business Bureau and a 95% positive customer rating. That’s a really great score for this industry. What’s more, Accredited Debt Relief offers a no-risk guarantee. If you don’t pay off your debt, then you don’t pay any fees.
With Accredited Debt Relief, you could be looking at a 25% - 35% savings on your current debt total. This company also works with people all across the United States, with qualified consultants and companies in almost every state. One of the more convenient aspects of working with Accredited Debt Relief is that you only pay a single monthly payment instead of making multiple payments that can be quite overwhelming.
Pacific Debt Relief is a popular option for debt relief because it is professional, reliable, and safe. The process starts with a free consultation to discuss your finances, debt, and income. Then, you’ll discuss possible repayment options and draft a plan for alleviating your debt once and for all.
While Pacific Debt Relief offers standard recovery time, approximately 2-4 years, what makes this company stand out from the other options is its credibility. Not only does Pacific Debt Relief hold an A+ with the Better Business Bureau and a 4.89 out of 5 rating, but it is also fully accredited by the American Fair Credit Counsel as well. Reputation is gold in this industry, and Pacific Debt Relief has a sterling one.
Something else that is truly unique about Pacific Debt Relief is the personal experience it provides. You don’t just get handed off to a generic representative. Each customer receives a personal account manager who handles your case from start to finish. Additionally, each case is reviewed and overseen by a certified debt counselor, so you are getting the most professional approach for your individual case. If you are in over your head, Pacific Debt Relief can help you come up for air.
With over 80% of Americans facing some form of debt over the course of their adult lives, that means millions of Americans are struggling with debt at any given time. The most common form of debt is mortgage debt. With over $19 trillion in debt outstanding, mortgage debt is the key driver in the nation’s accumulated debt. A distant second with $16 trillion is national student loans, a form of debt which can take individuals upwards of 25 years to pay off. Other types of debt, such as credit card debt, are often lower in sums but have an equally devastating effect if not repaid on time, and higher interest rates than many other loans.
Whatever the debt sum or reason behind it, if you’re struggling to make your monthly payments, seeking debt relief may be the solution. This is a financial decision that involves organization, commitment, and persistence to make it financially worthwhile and can save you a lot of money. Before you dive into debt relief of any form, it’s imperative that you understand the terms and inner workings of how this industry works. Here’s a quick rundown to get you started.
Debt relief is a broad term that includes any number of devices that will allow you to minimize, consolidate, or relieve yourself of the financial burden of debt. Debt relief works by applying one of 5 basic strategies:
Understanding your options is the 1st step towards financial freedom. Next, you need to know a little bit more about debt: the good, the bad, and the ugly.
The fact that not all of your debt is bad for your credit is a fact that may surprise you. For example, while student loans and mortgage debts are generally deemed an "investment" in one's future and therefore good causes of debt, other forms of debt such as credit card debt or medical bills are regarded as bad types of debt.
The idea of good debt versus bad debt speaks to the purpose of the loan taken. Loans taken for educational purposes or for the purpose of owning a family home or other forms of dividend-reprising property are expected to yield financial fruit with which one is thought to pay off said loan.
Bad debt is generally looked at by creditors or debt relief/debt settlement providers in a negative way. Frequently – though not always – credit card debt is often associated with overspending and living beyond your means. This type of debt is viewed as irresponsible spending behavior and is a sign to creditors that you cannot be relied upon to pay off your loan/debt in the future. Often grouped into this form of debt are loans taken for travel, car purchases or upgrades, home improvements, and weddings.
On the other side of the spectrum are medical loans taken due to unexpected circumstances and because of real necessity. While both forms of bad debt constitute a problem and an unfavorable circumstance, they are understandably looked at differently by creditors and relief companies.
The best way to free oneself of debt is to arrange for a debt management plan. While in some cases debt management can be done on your own, in most cases you will require outside help in order to reach the goal of true debt relief. The better debt management companies will provide
borrowers with a debt consultant who will sit with them privately, discuss their situation and options, and help guide them towards the best solution.
Generally, debt management services will do one of two things, though often they will combine both strategies. Services can either assist you in negotiating a consolidation and refinancing plan with your creditor, or they can appeal for a debt settlement – which may or may not include some form of debt relief – on your behalf.
Whether you intend to attempt to relieve your own debt or to turn to a debt relief company for assistance, here are the key questions you need to answer:
While debt relief is an attainable goal when done with the help of trained experts, it can be a pipe dream and a disastrous experience when attempted with mock counseling agencies who promise debt relief but have neither the means nor the experience to get you there. As with all things internet, reputation and a brand name play a key role in finding a debt relief service that will get the job done.
Keep your eyes open for so-called debt relief services that offer deals that sound too good to be true. All debt relief companies on this comparison chart have a good rating with the Better Business Bureau (BBB). Look for signs of consumer satisfaction. Check for signs of unlawful activity. Do your homework before you settle on a company. Make sure you know who you’re dealing with before you give the power of relieving your debt to someone else.
If you’ve come this far, you’re serious about taking care of your debt, and you’ve decided that debt consolidation is the best choice for you. Now the next question is which service is right for your needs and circumstances. There are hundreds of options available, but you need to be careful, or you might land in worse debt than when you started out. Looking out for the telltale signs of quality versus scams is a great start towards debt relief, and here are a few top names in the industry to help you get started:
Accredited Debt Relief has been around for a while, which gives borrowers the confidence that this is a reliable lender. In fact, Accredited Debt Relief is a highly accredited debt settlement company with accreditations from both the AFCC and IAPDA. Additionally, a quick glance around the internet will reveal the positive standing that ADR has within the industry based on customer reviews and comments. While the service is not available in all 50 states, Accredited Debt Relief is a great option if:
Here is a bit more about Accredited Debt Relief to help you make a more informed decision.
ClearOne Advantage is another big name in the debt relief industry, and for good reason. It is one of the only debt settlement companies to offer a complete 100% service guarantee within the first 90 days of enrollment. Customers who are unhappy with their ClearOne Advantage service can get out of their contract, and what’s even more impressive, ClearOne Advantage offers borrowers a guarantee to save money on their first settlement or be refunded all fees paid.
ClearOne Advantage deals with major debt, starting from $10,000. Additionally, customers like this company because:
Like what you’re reading? Then check out what else ClearOne Advantage has to offer.
Freedom Debt Relief has received outstanding customer ratings, making it an obvious choice for those struggling with debt. Having resolved more than $4 billion worth of debt through settlements over the past 15 years, Freedom Debt Relief is a massive organization with tremendous business and financial experience behind it. As with ClearOne Advantage, Freedom Debt Relief offers a money back guarantee, charges no upfront fees, and no payments are made until all debts are settled. Borrowers can really take advantage of this service without fear of repercussions later on. Freedom Debt Relief is an excellent choice for clients looking to:
Learn more about what Freedom Debt Relief can do for your financial difficulties now.
These are just a few of the options you can work with. For more in-depth overviews, check these comprehensive debt consolidation reviews.
Now that you have more experience with the industry and understand which features to look out for, you'll be able to make a more educated decision when choosing your own debt settlement company. Consider your particular circumstances including the questions we outlined above and:
Answering these questions will allow you to hone in on the best service for you. Once you know what you prefer, you can select the debt consolidator that has the most benefits and features that work for you. Read reviews, browse through these helpful articles, and get a better picture of what refinancing is all about.