Top 3 debt settlement companies in the US

What is debt settlement?

If you feel like you’re drowning in credit card debt, you’re not alone. Millions of Americans feel like they have too much debt that they most likely won’t be able to pay. This is where debt settlement comes in – it is a way for you to settle your unsecured debt, which is mostly made up of credit card debt, by paying less than you actually owe. Debt settlement is quite different from debt consolidation or debt negotiation. Essentially, you sign an agreement with a debt settlement company, which then sets up an account where you deposit money until the balance reaches a certain level necessary to begin negotiations. Then, the debt settlement company begins negotiations with one of your creditors, offering to pay them a lump sum payment from your account in exchange for forgiving the rest of your debt.

Freedom Debt Relief – one of the best debt relief companies

If you prefer to choose the largest and oldest company in the business for any task, take a look at Freedom Debt Relief. This nationwide debt settlement company has worked with more than 600,000 people to settle more than $10 billion in debt since it was founded in 2002. A major advantage of Freedom Debt Relief is its online client dashboard where you can keep an eye on how much money you have in your account and how close you are to having your debt settled. This debt settlement company is a great choice if you live in one of more than 30 states where it operates and if you have more than $10,000 in debt, including credit card debt, personal loans or medical debt. This company’s debt relief program does not accent auto loans, federal student loans and mortgages.

National Debt Relief – a top debt relief company

If you like to receive as much information about companies and their services as possible without having to call and talk to a representative, you will love National Debt Relief. Unlike many other debt settlement companies that don’t have a lot of information about their services online, National Debt Relief answers most if not all the questions you might have about working with them to get rid of your debt. For instance, their website tells you outright that they take a 20% fee for their services but at the same time, you can expect to save about 30% on your debt payment after paying the fee. They also have a relatively low debt minimum of $7,500 to qualify and the company operates in 41 states.

CuraDebt – another great debt settlement program

If you hate talking to customer service on the phone and prefer to solve all problems through online chat, consider choosing CuraDebt as your debt settlement company. This company advertises 40% in debt savings after fees, which is a very high number. Plus, they often accept people who have as little as $5,000 in debt, so it’s a great choice if you have a relatively small amount of debt.