The Best Credit Card Debt Relief Programs of 2017

Some debts are too big to handle on your own. When you feel like your debt is spiraling out of control, it’s time to consider other options for debt relief. We’ve found the best credit card debt relief companies based on service fees, money back guarantee, money management tools, professional advisors, accreditations, how fast your debt can be resolved, superior support, and more.

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National Debt Relief Website
4.9Out of 5
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Many credit card debt relief companies have websites that aren’t very specific because they want to hook you with a hard sell. National Debt Relief does a pretty good job of telling you what you can expect from debt settlement. Their website shows what kinds of debt quality, how much you need to be able to enroll, the fee you can expect to pay (20%) and your average savings after fees (30%).

  • Works with a wider range of debt than most services
  • A+ rating with the BBB, AFCC and IAPDA accredited
  • Available in 41 states
  • Minimum debt for enrollment is $10,000

While National Debt Relief offers debt settlement services, they do not provide debt management or debt consolidation services. The company charges very competitive fees and is accredited with the top debt associations and has really great business ratings.

The average settlement terms is two to four years, which is pretty typical in the industry. Some services advertise shorter terms, but in the end, the term depends on exactly how much debt you have and how much you can put in your trust account. You’ll have complete control of your account, but it’s best to not remove funds from your account during the program, because those funds will need to be available to pay off debts when settlement occurs.

CuraDebt Website
4.7Out of 5
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Ranked #2

CuraDebt was incorporated in 2000 and is one of the most established debt consolidation companies today. On top of working with major unsecured debt, CuraDebt will also consider working with business debt.

  • Most people save about 40% after fees
  • Accredited with the AFCC and IAPDA, not the BBB
  • Available in 37 states
  • Minimum debt for enrollment is $7,500

CuraDebt follows all the FTC regulations in the debt settlement industry and is a very reputable debt settlement company. The company does charge a monthly account maintenance fee to customers. Typical debt settlement period is between two and four years.

The CuraDebt website covers the details of debt management and different ways to handle your credit card debt. They also explain bankruptcy and the consequences associated with it. You can receive a free estimate by filling out an online form on their website or email a credit counselor to help answer basic questions about CuraDebt’s services.

New Era Debt Solutions Website
4.6Out of 5
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While transparency tends to be a problem in the debt settlement industry, New Era Debt Solutions is much more transparent than most companies we evaluated. This company is by far the most thorough in explaining what prospective clients need in order to qualify for the program.

  • No minimum debt requirement
  • Accredited with IPDA and BBB
  • Available in 42 states
  • Works only with basic debt

New Era works on a shorter time frame than most companies – average is 27 months. Their fees are low (15%) and has a 44% average debt reduction.

New Era does not offer debt management or debt consolidation services, it does provide customers with resources on their website to help manage your finances on your own and will help negotiate with your creditors on your behalf.

This service provides debt consolidation programs that range from three to four years. You’ll set aside funds in a personal account while your account manager works with your creditors. That money will then be used to pay off your debts.

Freedom Debt Relief Website
4.4Out of 5
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Freedom Debt Relief started business in 2002 and has helped customers reduce more than $3 billion in debt in that time. Service fees are considered average, maybe even low, compared to other debt settlement services. There are no monthly service fees.

  • Minimum debt requirement is $7,500
  • Works with credit card debt, unsecured loans and lines of credit, medical bills or repossessions
  • Accredited with IAPDA and AFCC

Freedom Debt Relief has relatively low fees (18%) and has an average debt reduction of 50%. Their fees are based on the total enrolled debt, not the settled debt amount. When this company successfully negotiates your debt reduction with a creditor, they typically see a 50% reduction, which means after fees you’ll see a 25% to 35% reduction in your total debt.

Freedom Debt Relief typically works on a two to four year time frame, depending on how much debt you have and how much money you can set aside each month to pay on that debt.

Debtmerica Website
4.3Out of 5
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Ranked #5

Debtmerica specializes in debt settlement and offers a debt relief service as an alternative to debt consolidation. Negotiation with your creditors begins once you’ve enrolled and began the program. The average period for debt settlement is between two to four years.

  • Average debt reduction of 29%
  • Accredited with IAPD and AFCC
  • Minimum debt requirement is $10,000

While Debtmerica is negotiating with your creditors, you’ll put away money into a trust fund every month. Legally, debt settlement companies cannot charge any fees in advance. However, once a settlement is reached, the money in your trust fund is used to pay off the debt and pay settlement fees to Debtmerica. You’re responsible for your debt and your creditors during the negotiation process, so if you stop making payments you’ll be responsible for late fees, interest, collections and disconnections.

Debtmerica typically settles around 50% of your total debt. They also charge around 20% of your enrolled debt in fees, so you’ll get about a 30% debt reduction. Creditors are not obligated to participate in any debt negotiation and can refuse to settle your debt. And while the figures aren’t super impressive, Debtmerica has a really great reputation, which is something to take into consideration.

Credit Card Debt Relief Buyer’s Guide

Are you struggling with credit card debt and can’t come up with a plan to get out of debt on your own? Credit card debt is a big problem for many Americans. With the recent financial crisis, a lot of people have watched their credit card debt increase as they struggle to get by each month. If you’re looking for credit card debt relief help, you’ve come to the right place. At CubeReviews, we’ve reviewed the best credit card debt relief companies that will help you learn how to settle and eliminate your credit card debt once and for all.

The first step to paying off credit card debt is contacting a credit card debt relief service. Reputable credit counseling organizations can help you learn how to manage your money and debt, create a budget and often offer various educational materials and workshops for free. These certified counselors will discuss your financial situation with you and help you come up with a personal plan to reduce credit card debt.

If your financial woes all stem from having too much credit card debt (and/or your inability to pay your debt), then your credit counseling agency will likely recommend you enroll in a debt management plan (DPM). A DPM is not for everyone, so don’t sign up for one unless you’ve spent a lot of time with your certified credit counselor reviewing your situation. If you enter into a DPM, you want to make sure it’s personalized for you.

A DPM helps you pay off credit card debt by depositing money every month into a savings account monitored by your credit card debt relief service. Your credit counselor uses that money to pay off your credit card debt according to the plan you developed. Your creditors may agree to lower your interest rates or waive certain late fees. In order for a DPM to be successful, you must make regular, on-time payments. Most DPMs take about 3-5 years to complete, so make sure you’re committed to paying off credit card debt for the long run.

Your credit counselor may also try various credit card debt settlement programs as well. Credit card settlement is a process when your credit counselor negotiates with your creditors to allow you to pay a “settlement” or a portion of your debt that is less than the full amount you owe. In order for you to make that lump sum payment, you’ll have to set aside money each month in a savings account. During the time you’re working on settling credit card debt, your counselor will likely encourage you to stop making monthly payments to your creditors.

Settling Credit Card Debt Has Risks

Paying off credit cards takes time, and while your debt settlement company may be able to settle your debts, there are some risks associated with these types of programs. So, before you sign up for a credit card debt relief program, make sure you know the following risks:

  • Credit card settlement can take anywhere from 3 to 5 years to complete. Make sure you look at your budget and are financially capable of following the budget you’ve set for the full length of the program.
  • Your creditors don’t have to negotiate a settlement. It’s possible that your debt settlement company won’t be able to settle some of your debts, even if you set the money aside.
  • Negotiating credit card debt always begins with small debts first. So, while you’re paying off some debt, your large debts continue packing on interest and other fees.
  • Your credit score will be damaged. Most credit card debt relief companies encourage you to stop making payments to your creditors while you’re working with them. Not making payments can have a negative impact on your credit score and may lead to other serious problems.

If you’re drowning in late fees and aren’t sure how to get out of credit card debt on your own, maybe now is the time to find a credit card debt relief service that will help you. We’ve reviewed the best services available today so that you can get the credit card debt help you need without spending hours and hours searching for a service. Here’s to taking to first step to reducing credit card debt. Good luck!

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