Our Top 5 Debt Consolidation Companies for 2022
Which Debt Consolidation company should you choose? This is a tough question to answer on your own. This is why we've done the research for you and created this helpful website with our recommendations for debt consolidation companies. We have ranked these picks on several factors, including their membership in groups like BBB, AFCC, etc., time in business, services offered, advertising costs and customer service. We hope you will take advantage of the information offered here.
Best Debt Consolidation Companies Picks for 2022
Our Number 1 Recommendation
Top Rated – Highest Ethical Standard
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- Get 50% Lower Monthly Payments
- Best for Credit Card Debt, Personal Loan and Bills
- Most Accredited with Organizations like BBB and AFCC
- Avoid Bankruptcy AND Become Debt Free
855-461-7427
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- Get out of Debt without Bankruptcy
- Pay off Debt with Reduced Amount
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- Member of FCAA
- No Credit Score Requirement
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- Cancel Anytime with No Fees
- Easy Monthly Payments
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- Pay off Debt in as little as 24 Months
- No Bankruptcy and Become Debt Free
Our Best Overall Choice
Find a customized quote easily
- Get 50% Lower Monthly Payments
- Best for Credit Card Debt, Personal Loan and Bills
- Most Accredited with Organizations like BBB and AFCC
- Avoid Bankruptcy AND Become Debt Free
Debt consolidation is the practice of combining multiple debt obligations into one monthly payment. You are basically rearranging your finances. Instead of keeping tracking of multiple bills and payments, debt consolidation helps you move all your debts in one place and pay for them with one monthly payment.
Debt Consolidation can be done in a few different ways. Some of the most popular options are:
- Debt consolidation using a debt resolution company. This is when a resolution company negotiates with your creditors on your behalf.
- Debt Consolidation using a personal loan. This option is available when you’re able to take out a separate loan and use that to pay off your other debts.
- Debt Consolidation using credit card balance transfers. This option is used when you have access to credit cards that you can use to transfer your balances to one with a lower interest rate.
It depends on the debt consolidation method you end up going with. You can potentially save on interest costs and lower your monthly payment, however, most debt consolidation options cannot reduce the principal balance on your debt. Some consolidation options can reduce your debt through direct negotiations with your creditors.
Which Debt Consolidation option is best for me?
There is unfortunately no one-size-fits-all when it comes to dealing with debt.
Every individual has different needs and different types of debts.
The companies listed on this site can help offer you tailored solutions to you
depending on how much debt you have and the kinds of debts you have.
From there, they can develop a program that you can stick with to help you
pay down your debt with success.
So call or visit the providers listed on this site and compare all of your options carefully.
Does Debt Consolidation Work?
Yes it does. But like all things in life it comes down to how much you're willing to stick with the plan and diligently make the payments necessary to pay down your debts. Working with a debt consolidation company like the ones above offers you the opportunity to lean on the expertise of people who specialize in debt and can help you stick with your plan. A recent study from Harvard Kennedy School found that borrowers who worked through debt resolution programs, after accounting for fees, received an average reduction of 33.2% on their settled debts.
