Debt management companies can help you get out of debt in a number of ways, such as by negotiating a settlement with your lenders, enrolling you in a debt management plan (DMP), and through debt counseling. Debt management companies can be nonprofit or for-profit and may offer consumer credit counseling, which can be helpful if you need education or training in personal financial management.

If you have a number of unsecured debts, such as credit cards and personal loans, this can be a viable way to make debt easier to pay off. Read on to learn more about our top five recommendations and tips for choosing the best debt management company.

Top 5 Debt Management Companies 

Minimum DebtFeesFree Consultation
National Debt Relief$10,00015%-25%Yes
Accredited Debt Relief$10,00015%-25%Yes
New Era Debt ReliefNA14%-23%Yes

1. TurboDebt

TurboDebt is a debt relief company with over 10,000 five-star reviews on TrustPilot. The Florida-based company offers a variety of debt relief options along with consultation services.

If you have over $10,000 in unsecured debt, such as personal loans and credit card debt, you can enroll in a program to pay off your debt in 24 to 48 months. Through their debt settlement program, you may be able to save as much as 50% of your debt before fees.

2. National Debt Relief

With over 13 years of experience and an A+ rating with the Better Business Bureau (BBB), National Debt Relief is one of the most well-known debt management companies in the U.S.

The company offers a number of debt relief options for most unsecured debts, along with a free initial consultation. Most customers see an approximate savings of 38% on their debts.

3. Accredited Debt Relief

Accredited Debt Relief is a San Diego-based company that has been offering debt solutions since 2011. It has an A+ rating with the Better Business Bureau (BBB).

The company offers a number of debt management solutions, such as debt settlement, debt consolidation, and more. After a free initial consultation, you may be able to enroll in a program that allows you to become debt-free in as little as 12 to 24 months.

4. CreditAssociates

CreditAssociates doesn’t charge any set-up or monthly fees, unlike many debt management companies. Its success-based fee structure ensures that you’ll only have to pay if your debt is handled successfully.

CreditAssociates offers free consultations, and fees are based on the enrolled debt amount, typically 22% to 25%. However, the company doesn’t accept clients from some states, such as Colorado, Minnesota, Vermont, and Wyoming.

5. New Era Debt Solutions

New Era Debt Solutions was founded in 1999 and has helped clients settle more than $275 million in debt over the years. The company can help you pay off unsecured debts in less than three years, with most customers completing their plans within 28 months.

There are no upfront fees, and the process starts with a free consultation. All fees are charged after a settlement has been reached, and there are no monthly administrative fees.


We reviewed 20 companies to select our top five recommendations for the best debt management companies. We compared these companies based on a number of categories:

  • Geographic availability
  • Fees
  • History
  • Industry reputation
  • Customer reviews

We evaluated the services these companies provide and selected companies offering services that are widely available in the U.S.

Pros and Cons of Working With a Debt Management Company

While there are many benefits of hiring a debt management company, the option may not be right for everyone. Consider weighing the pros and cons we’ve listed below to make an informed decision.


  • Higher savings due to waived fees, reduced interest rates, and lower settlement amount
  • Ability to get out of debt in a shorter time, usually within five years
  • A guided path to a debt-free life
  • Free consultations
  • Credit counseling for financial education and personalized guidance
  • Personalized repayment plans with a fixed monthly payment based on your budget


  • You may have to close your credit cards while you’re paying down your debt
  • There may be a dip in your credit score for a short time (12-24 months) until your credit has time to recover
  • Not all lenders may participate in debt management programs

How To Choose a Debt Management Company

With so many debt management companies offering services, picking one that fits your needs can be challenging. Here’s a list of factors to consider when choosing a company to work with:

  • Read the company's reviews on the Better Business Bureau, TrustPilot, and other independent review sites.
  • Ensure that the company is transparent about its fees and provides an average cost.
  • Consider how long the company has been in business to ensure it has a long track record of success.
  • Check to see if the company offers a free initial counseling session so you can learn more about their services and plans.
  • Ensure that the company offers services in your state.

How Much Does It Cost To Hire a Debt Management Company?

The cost of hiring a debt management company will depend on a number of factors, such as the type of service it offers, your location, and the company’s policy.

For example, enrolling in a debt management plan will usually involve a set-up fee and monthly fee, which can both range from $20 to $50.

Some companies may also charge success-based fees, generally based on the enrolled debt amount. This means that you’ll only pay when you reach a solution– this is the only way you should be paying for this kind of service.  Never pay a debt management company any fees before having them show you results. Success-based fees usually range from 15% to 25% of enrolled debt.

Compare Your Options Carefully When Choosing a Debt Management Company

A debt management company can help you find a way out of debt while allowing you to save money with lower interest rates, waived fees, and a reduction in the total debt you owe. However, it’s important to compare your options carefully and select a company that offers plans based on your budget.

With so many different types of debt relief options available, it’s also important to determine which type of debt relief will fit your needs and how it’ll reflect on your credit report. If a debt management plan isn’t right for you, consider taking out a debt consolidation loan, working with a debt settlement company to settle your debt, or following a debt repayment strategy like debt avalanche or the debt snowball methods.

Once you speak to a certified credit counselor at a for-profit or nonprofit organization and enroll in a plan, it’s important to be disciplined and make consistent payments until completion to receive the most benefits.