Best Debt Consolidation Companies of 2025
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Best for Unsecured Debts Above $20,000
- Offers a Free, No-Risk Debt Relief Consultation
- Low Monthly Payments with No Upfront Fees
- $20 Billion+ debt resolved
Best for People with $15,000 or More in Debt
- Become Debt Free in 12 to 48 Months
- Pay No Fees Until Your Accounts Are Settled
- Have Helped More than 550,000 People Get Out of Debt Since 2009
Best for Debts of $25,000 or More
- Be Debt-Free in 24-48 Months without Bankruptcy
- See What Debt Relief Options You Qualify for in Minutes
- No Upfront Enrollment Fees
Recommended for People with $15,000+ in Debt
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Experts Negotiate With Creditors To Reduce Your Debt
- Good Credit Not Required
- Resolve Debt in 24-48 Months on Average*
selected this partner
Best for Unsecured Debts Above $20,000
- Offers a Free, No-Risk Debt Relief Consultation
- Low Monthly Payments with No Upfront Fees
- $20 Billion+ debt resolved
What Are Debt Consolidation Loans?
Debt consolidation loans allow you to combine multiple high-interest debts—such as credit card balances, medical bills, or personal loans—into a single loan with potentially more favorable terms. This can make repayment more manageable by offering a lower interest rate, a fixed repayment schedule, or a reduced monthly payment.
How Do They Work?
Here's a general overview of how the process typically unfolds:
- Apply for a Loan: Select a lender and apply for a loan amount that covers the total of your debts.
- Pay Off Existing Debts: If approved, your lender may either distribute the funds directly to your creditors or deposit the full amount into your account, allowing you to pay them off yourself.
- Make One Monthly Payment: Going forward, you'll make a single monthly payment to the new lender until the loan is fully repaid.
Important Note: While consolidating your debt can simplify your finances, it may extend your repayment term or increase the total interest paid over time, depending on the loan terms.
Steps to Getting a Debt Consolidation Loan
If you're considering a debt consolidation loan, here are some helpful steps to guide your decision:
- Check Your Credit Score: Many lenders prefer a minimum score of 610, but a score of 720 or higher can help you qualify for the most competitive rates.
- Work on Your Credit (If Needed): Paying down small balances and reducing credit utilization can improve your chances of approval.
- Know Your Total Debt: Calculate exactly how much you need to consolidate, and avoid borrowing more than necessary.
- Compare Offers: Prequalify with multiple lenders to compare rates, terms, and fees before committing.
- Submit Your Application: Once you've chosen a lender, apply and wait for their decision.
Debt consolidation can be a helpful tool when used responsibly. Make sure to review the terms carefully and ensure the new loan aligns with your long-term financial goals.
Freedom Debt Relief
Freedom Debt Relief Company Overview:
Freedom Debt Relief (FDR), founded in 2002, is a reputable company specializing in debt settlement. With over 20 years of experience, FDR has helped hundreds of thousands of clients reduce their unsecured debt and regain financial stability. FDR is accredited by the American Fair Credit Council (AFCC) and holds an A+ rating from the Better Business Bureau (BBB), ensuring compliance with industry standards.
Services Offered:
FDR offers personalized debt settlement programs, negotiating with creditors to lower the amount owed. While they do not provide traditional debt consolidation loans or credit counseling, their tailored programs focus on creating manageable repayment plans for clients overwhelmed by unsecured debt.
Fees, Interest Rates and Terms:
Freedom Debt Relief charges fees ranging from 15% to 25% of the settled debt, which are only collected after a settlement is reached, ensuring transparency without requiring upfront payments. As FDR does not offer loans, interest rates are not applicable; instead, clients contribute monthly deposits into a dedicated account to fund future settlements.
Who It's Best For:
Freedom Debt Relief is a trustworthy option for individuals struggling with unsecured debt who are seeking a settlement-based solution rather than traditional consolidation or credit counseling. It is best suited for those with significant debt looking for an alternative to bankruptcy.
National Debt Relief
National Debt Relief Company Overview:
Founded in 2009, National Debt Relief (NDR) specializes in debt settlement, assisting clients in reducing unsecured debts such as credit cards, personal loans, and medical bills. The company has helped over 500,000 clients resolve their debts. NDR is accredited by the American Association for Debt Resolution and holds an A+ rating from the Better Business Bureau (BBB).
Services Offered:
National Debt Relief specializes in offering comprehensive debt consolidation and debt relief services to individuals seeking financial stability. Presently, National Debt Relief extends its debt negotiation programs to clients contending with $10,000 or more in unsecured debts, encompassing liabilities from credit cards, medical bills, collections, and business debts.
Fees, Interest Rates, and Terms:
NDR charges performance-based fees, typically up to 25% of the total debt enrolled, which are only collected after a settlement is reached and at least one payment is made to the creditor. Since NDR does not offer loans, interest rates are not applicable. Clients make monthly deposits into a dedicated account to fund future settlements.
Who It's Best For:
National Debt Relief is a reputable option for individuals struggling with unsecured debt who are seeking a settlement-based solution. It is best suited for those with significant debt looking for an alternative to bankruptcy or traditional debt consolidation methods.
Accredited Debt Relief
Accredited Debt Relief Company Overview:
Accredited Debt Relief is a leading debt relief company committed to helping individuals overcome financial challenges and regain control of their finances. With a focus on personalized solutions, the company works to reduce debt and improve financial stability for its clients. Accredited Debt Relief is accredited by the Better Business Bureau (BBB) with an A+ rating and partners with reputable organizations to ensure quality service and compliance with industry standards.
Services Offered:
Accredited Debt Relief offers customized debt settlement and debt relief programs designed to negotiate with creditors and reduce the total debt owed. These services focus on unsecured debts such as credit cards, personal loans, and medical bills. Accredited Debt Relief provides free consultations to assess client needs and create tailored plans that fit individual financial situations.
Fees, Interest Rates, and Terms:
Accredited Debt Relief charges fees that typically range from 15% to 25% of the enrolled debt. These fees are only applied after a successful settlement is reached, ensuring no upfront costs for clients. Instead of interest rates, clients deposit monthly payments into a dedicated account, which is used to fund negotiated settlements, providing a structured and transparent approach to debt resolution.
Who It’s Best For:
Accredited Debt Relief is an ideal choice for individuals struggling with $10,000 or more in unsecured debt who are seeking a professional, settlement-based solution. It is particularly well-suited for those looking for an alternative to bankruptcy and wanting personalized, expert support to achieve financial freedom.
Achieve Debt Consolidation
Achieve Company Overview:
Achieve is a financial services company dedicated to helping individuals overcome debt and achieve financial wellness. With a customer-focused approach, Achieve offers a range of tailored solutions to address debt and improve overall financial health. Accredited by reputable organizations, Achieve emphasizes transparency, education, and support throughout the process to empower clients on their journey to financial freedom.
Services Offered:
Achieve specializes in personalized debt resolution programs, negotiating with creditors to reduce the total amount owed. While not offering traditional consolidation loans or credit counseling, Achieve focuses on creating practical, customized repayment plans that fit the unique financial situations of their clients. Additionally, they provide tools and resources to help clients manage their finances more effectively.
Fees, Interest Rates, and Terms:
Achieve charges fees based on the settled debt, typically ranging from 15% to 25%. These fees are only collected once a successful settlement has been reached, ensuring no upfront costs for clients. Instead of traditional loan interest rates, clients contribute monthly payments into a dedicated account to fund their settlements, providing a clear and structured approach to resolving debt.
Who It’s Best For:
Achieve is a great option for individuals dealing with significant unsecured debt who prefer a settlement-based approach over consolidation loans or credit counseling. It is particularly suited for those seeking an alternative to bankruptcy and wanting a personalized plan to regain financial stability.