Best debt relief companies, plus advice borrowers need to know now

We may receive commissions from some links to products on this page.

Promotions are subject to availability and retailer terms.

Updated on: March 13, 2026 / 1:59 PM EDT/ CBS News
Credit card balances recently grew by $44 billionin the final quarter of 2025 and the interest rate environment has made carrying that debt significantly more painful.

Borrowers who are carrying high-ratecredit card debthave felt it most acutely, as rates have hovered near historic highs, and withinterest compounding month after month, even keeping up with minimum payments has become a real struggle for many households.

And this has become more of a concern following recent reports showing progress toward loweringinflationstalled andunemploymentrising.

That pressure has pushed more people tolook seriously at debt relief.

These programs are not without trade-offs, however — likecredit score damageand tax implications — but for borrowers facing truly unmanageable debt loads, they can offer a meaningful way out.

The catch is that the debt relief industry isn't uniform.

Some companies operate with genuine transparency and provide real support throughout the process; others come with hidden fees or practices that raise red flags.

That makes due diligence essential.

Before committing to any service, it's worth understanding which companies have earned a reputation for doing it right.

Start tackling your expensive debt problems now.

Here's a look at the top debt relief providers across several different categories to help you find one that aligns with your needs:
Accredited stands out for having the strongest customer satisfaction ratings among its peers.

Their program includes account setup, budget review and personalized settlement negotiation, and the company boastsan A+ ratingwith the Better Business Bureau (BBB), as well as a low number of complaints.

It also hasa high rating on Trustpilot, indicating that customers are, in large part, highly satisfied with the help they've received from this company, and it has widespread availability as it operates in most states.

Learn more about Accredited Debt Relief here.

One of the biggest fears people have when entering into a debt settlement program is the prospect of being sued by their creditors.

While many debt relief companies offer ancillary legal assistance to help customers deal with creditors, this protection and peace of mind generally comes at a cost on top of the other charges.

Freedom Debt Relief is unique, though, in that it offers all customers legal assistance for no additional charge.

The company also has a lower minimum threshold than some competitors, requiring only $7,500 of unsecured debt to enroll.

Learn more about Freedom Debt Relief now.

The debt relief industry doesn't exactly have a reputation for transparency, which can make it tough to navigate.

However, DebtBlue is the exception to that rule, with an informative website that explains both the process and its costs in an easy-to-understand manner.

The company proactively discloses third-party account fees and provides detailed explanations of all costs involved.

DebtBlue also maintains strong ratings on review sites and offers individualized responses to customer complaints.

New Era Debt Solutions has a higher debt minimum than many other debt relief companies, but it also has decades of experience helping people settle their unsecured debts for less.

The company requires a minimum of $10,000 in debt to enroll, but New Era clients take an average ofjust under 28 monthsto complete the debt settlement program, which is significantly faster than the average timeline with many of its competitors.

And its fees are about as good as it gets, with a high end of 23%.

The company also operates in nearly every state except for Iowa, Maine and Oregon.

Find out more about New Era Debt Solutions now.

What sets Pacific Debt Relief apart from the other companies on our list is its unique fee structure.

Unlike other competitors, the fees with Pacific Debt Reliefare performance-basedand calculated on a percentage of settled debt rather than the original enrolled amount, potentially saving clients money.

The company's fees range between 15% to 25% and it requires a minimum of $10,000 in debt, though it may accept clients with as little as $7,500 in some circumstances.

Before you make any decisions on how to deal with your debt, it may help to consider the following:
Debt relief can provide significant financial relief to borrowers who are overwhelmed by their unsecured debt, but it's important to do your research and find the right companies to work with.

The best debt relief companies offer transparent pricing, strong customer support and proven track records of successful negotiations.

You should also consider the possible downsides of pursuing this type of relief.

While it can provide significant savings, it won't be the right move for everyone, so make sure you're also weighing the less damaging alternatives, like debt consolidation or credit counseling, before committing to any solution.

© 2025 CBS Interactive Inc.

All Rights Reserved.