Best of November 2024 - Debt Consolidation Companies

ACS

1

Rank

Consolidation Starts At 25k

$25,000-$150,000
Established debt consolidation company known for it's steller customer service
  • Minimum debt $25,000
  • Gives you a free savings estimate & financial plan
  • Excellent ratings over 30,0000 reviews on Trustpilot with a an average review of 4.9
  • Simple process and provides outstanding customer support for it's clients.
GET MY RATE >>
ACS

2

Rank

Consolidation Starts At 30k

$30,000-$255,000
Large debt relief company specializing in high debt
  • Best for high interest loans and high interest credit card balances 30k plus
  • 15,658 Revoews with an average rating of 4.8 on Trustpilot
  • 25,230 Reviews with an average rating of 4.9 on Birdeye
  • In business for over 16 years
  • Provides multiple solutions
  • Save up to 50% on unsecured high interest balances
GET MY RATE >>
ACS

3

Rank

Consolidation Starts At 20k

$20,000-$100,000
Debt consolidation company with personal options
  • Ideal for people seeking to manage $20k+ in unsecured debts
  • Average client savings of 43% on enrolled debt balances before fees
  • 12,115 Trustpilot reviews with an average rating of 4.9
  • Over 30 years of experience helping clients with financial solutions
  • Multiple programs that are personalized
  • Few customer complaints compaired to other programs


GET MY RATE >>
ACS

4

Rank

Consolidation Starts At 10k

$10,000-$100,000
Personalized debt consolidation
  • Minimum debt: $10,000
  • Qualify for debt consolidation online
  • Turn your debt in one monthly payment
  • Good for multiple credit types
  • Multiple programs
GET MY RATE >>
ACS

5

Rank

Consolidation Starts At 10k

$10,000-$100,000
Large debt consolidation company
  • Minimum debt: $10,000
  • Qualify for debt consolidation online
  • Turn your debt in one monthly payment
  • Offers a free consultation
  • Provides you a financial relief plan
GET MY RATE >>
ACS

1

Rank

Consolidation Starts At 25k

$25,000-$150,000
  • Established debt consolidation company known for it's steller customer service

    • Minimum debt $25,000
    • Gives you a free savings estimate & financial plan
    • Excellent ratings over 30,0000 reviews on Trustpilot with a an average review of 4.9
    • Simple process and provides outstanding customer support for it's clients.
ACS

2

Rank

Consolidation Starts At 30k

$30,000-$255,000
  • Large debt consolidation company specializing in high debt

    • Best for high interest loans and high interest credit card balances 30k plus
    • 15,658 Revoews with an average rating of 4.8 on Trustpilot
    • 25,230 Reviews with an average rating of 4.9 on Birdeye
    • In business for over 16 years
    • Provides multiple solutions
    • Save up to 50% on unsecured high interest balances
ACS

3

Rank

Consolidation Starts At 20k

$20,000-$100,000
  • Debt consolidation company with personal options

    • Ideal for people seeking to manage $20k+ in unsecured debts
    • Average client savings of 43% on enrolled debt balances before fees
    • 12,115 Trustpilot reviews with an average rating of 4.9
    • Over 30 years of experience helping clients with financial solutions
    • Multiple programs that are personalized
    • Few customer complaints compaired to other programs
ACS

4

Rank

Consolidation Starts At 10k

$10,000-$100,000
  • Personalized debt consolidation

    • Minimum debt: $10,000
    • Qualify for debt consolidation online
    • Turn your debt in one monthly payment
    • Good for multiple credit types
    • Multiple programs
ACS

5

Rank

Consolidation Starts At 10k

$10,000-$100,000
  • Large debt consolidation company

    • Minimum debt: $10,000
    • Qualify for debt consolidation online
    • Turn your debt in one monthly payment
    • Offers a free consultation
    • Provides you a financial relief plan
ACS

1

Rank

Consolidation Starts At 25k

$25,000-$150,000
Established debt consolidation company known for it's steller customer service
  • Minimum debt $25,000
  • Gives you a free savings estimate & financial plan
  • Excellent ratings over 30,0000 reviews on Trustpilot with a an average review of 4.9
  • Simple process and provides outstanding customer support for it's clients.
ACS

3

Rank

Consolidation Starts At 20k

$20,000-$100,000
Debt consolidation company with personal options
  • Ideal for people seeking to manage $20k+ in unsecured debts
  • Average client savings of 43% on enrolled debt balances before fees
  • 12,115 Trustpilot reviews with an average rating of 4.9
  • Over 30 years of experience helping clients with financial solutions
  • Multiple programs that are personalized
  • Few customer complaints compared to other programs
ACS

2

Rank

Consolidation Starts At 30k

$30,000-$255,000
Large debt consolidation company specializing in high debt
  • Best for high interest loans and high interest credit card balances 30k plus
  • 15,658 Revoews with an average rating of 4.8 on Trustpilot
  • 25,230 Reviews with an average rating of 4.9 on Birdeye
  • In business for over 16 years
  • Provides multiple solutions
  • Save up to 50% on unsecured high interest balances
ACS

4

Rank

Consolidation Starts At 10k

$10,000-$100,000
Personalized debt consolidation
  • Minimum debt: $10,000
  • Qualify for debt consolidation online
  • Turn your debt in one monthly payment
  • Good for multiple credit types
  • Multiple programs
ACS

5

Rank

Consolidation Starts At 10k

$10,000-$100,000
Large debt consolidation company
  • Minimum debt: $10,000
  • Qualify for debt consolidation online
  • Turn your debt in one monthly payment
  • Offers a free consultation
  • Provides you a financial relief plan

We recommend...

ACS

1

Rank

Consolidation Starts At 25k

$25,000-$150,000
Established debt consolidation company known for it's steller customer service
  • Minimum debt $25,000
  • Gives you a free savings estimate & financial plan
  • Excellent ratings over 30,0000 reviews on Trustpilot with a an average review of 4.9
  • Simple process and provides outstanding customer support for it's clients.
GET MY RATE >>
ACS

1

Rank

Consolidation Starts At 25k

$25,000-$150,000
  • Established debt consolidation company known for it's steller customer service

    • Minimum debt $25,000
    • Gives you a free savings estimate & financial plan
    • Excellent ratings over 30,0000 reviews on Trustpilot with a an average review of 4.9
    • Simple process and provides outstanding customer support for it's clients.
ACS

1

Rank

Consolidation Starts At 25k

$25,000-$150,000
Established debt consolidation company known for it's steller customer service
  • Minimum debt $25,000
  • Gives you a free savings estimate & financial plan
  • Excellent ratings over 30,0000 reviews on Trustpilot with a an average review of 4.9
  • Simple process and provides outstanding customer support for it's clients.

Benefits of Credit Consolidation


Consolidating credit card debt offers several benefits, with potential savings being the most significant. Debt relief loans typically come with lower interest rates compared to credit cards. By using a loan to pay off high-interest credit card debt, you can save money on interest.  Additionally, the interest savings can be put towards paying off the loan more quickly. Furthermore, managing a single debt relief loan is generally easier than managing multiple debts, as it involves making only one monthly payment.

When Does Credit Card Debt Relief Make Sense?


  • Considering the aforementioned advantages and disadvantages, there are several scenarios in which a credit card consolidation loan may be a suitable option:
  • Managing debt from multiple credit cards is challenging.
  • Difficulty in meeting monthly payment obligations.
  • Your improved credit score qualifies you for a lower interest rate compared to your current debts.


 Your total monthly debt obligations, including mortgage or rent, are less than 50% of your gross monthly income.

Answers to Common Inquiries Regarding Debt Relief

We did cover consolidation so why not!

  • What is debt relief?

    Debt relief refers to various strategies and programs designed to help individuals or businesses reduce or eliminate their outstanding debts.

  • How does debt relief work?

    Debt relief methods vary but may include debt settlement negotiations, debt consolidation, debt management plans, or bankruptcy, depending on the individual's financial situation.

  • What types of debts can be addressed through debt relief?

    Debt relief can be applied to various unsecured debts, such as credit card balances, medical bills, personal loans, and certain types of loans. Secured debts like mortgages may have different options.

  • How long does debt relief take to show results?

    The timeframe for debt relief varies depending on the chosen method. Debt settlement may take a few years, while debt consolidation or management plans may provide more immediate relief.

  • Are there different methods of debt relief?

    Yes, common debt relief methods include debt settlement, debt consolidation, debt management plans, and bankruptcy. The most suitable method depends on individual circumstances.

  • What happens to my credit score when I consolidate credit card debt?

    When you apply for a credit card consolidation loan, your credit score may be affected temporarily, just like with any other type of loan. This is because the lenders will run a credit check to assess your creditworthiness. However, this impact is usually short-term and easy to recover from.

  • Can I negotiate debt relief on my own?

    Some individuals choose to negotiate debt relief directly with creditors, while others seek the assistance of debt relief companies or attorneys. Professional help can often provide expertise in navigating negotiations.

  • How Do You Calculate Your Debt-to-Income Ratio?

    Your debt-to-income (DTI) ratio is a significant financial indicator that lenders consider when assessing your creditworthiness for loans, mortgages, and other forms of credit. It is the percentage of your gross monthly income that goes towards paying your monthly debt obligations. A lower DTI ratio means a healthier financial situation and a higher ability to manage your debts.


    To calculate your DTI ratio, you need to follow these simple steps:


    1. Collect your monthly debt payments:


    Housing costs: This includes your mortgage or rent payment, homeowners insurance, property taxes, and homeowner association fees.

    Recurring debts: Make a list of all your recurring debt payments, such as car loans, student loans, personal loans, and credit card minimum payments.


    2. Calculate your gross monthly income:


    Gross monthly income: This is your total income before taxes and deductions. You can find this number on your pay stub or by contacting your employer's payroll department.


    3. Divide your total debt payments by your gross monthly income:


    DTI ratio: Divide the sum of your monthly debt payments by your gross monthly income. Multiply the result by 100 to express it as a percentage.


    For instance, if your monthly debt payments amount to $1,500, and your gross monthly income is $6,000, your DTI ratio would be 25% (1,500 ÷ 6,000 × 100 = 25%).


    Lenders usually prefer a DTI ratio below 43%. However, some lenders may accept a higher DTI ratio for borrowers with excellent credit scores or strong compensating factors, such as high-income or low-cost housing.


    Here are some tips for improving your DTI ratio:


    Increase your income: Look for opportunities to increase your earnings, such as seeking a promotion, taking on additional work, or starting a side hustle.

    Pay off debt: Prioritize paying off high-interest debts, such as credit cards, to reduce your monthly payments.

    Negotiate lower interest rates: Contact your creditors to inquire about lower interest rates on your existing debts.

    Manage your spending: Create a budget and track your expenses to identify areas where you can cut back on spending.

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