We considered the number of years a debt relief company has been operating. We considered both the rating and the number of reviews received. The BBB measures customer satisfaction through ratings left on its website. To be BBB accredited, companies must meet standards for transparency, honest advertising, trustworthiness, responsiveness and privacy, among other things. Additionally, we focused on those that were transparent about those costs and display them on their websites. ![]() We focused on those with the lowest fees. Most debt relief companies charge fees for their services. When narrowing down and ranking the best debt relief companies, we focused on the following features: To find the best debt relief companies, CNBC Select analyzed more than a dozen U.S. Best for good to excellent credit: LightStream.Best for staying motivated : Happy Money.Best for consolidating debt while improving financial literacy: Upgrade.Best for student loan consolidation: SoFi.Here are CNBC Select's best debt consolidation loans to consider: It can help you keep track of your debts better by rolling them into one debt, and in some cases, it can lower the interest rate you'll pay for some high-interest debts. ![]() This process relies on a personal loan to pay off debt, then leaves the personal loan as your main debt to pay down. Debt relief companies generally encourage clients to stop paying bills on their debts that are enrolled in the program and instead save for settlements in a savings account.ĭebt consolidation, however, is generally done on your own. Investing +More All Investing Best IRA Accounts Best Roth IRA Accounts Best Investing Apps Best Free Stock Trading Platforms Best Robo-Advisors Index Funds Mutual Funds ETFs Bondsĭebt relief relies on negotiating down the amount of debt you owe and is generally done by companies that charge a fee for their services. Help for Low Credit Scores +More All Help for Low Credit Scores Best Credit Cards for Bad Credit Best Personal Loans for Bad Credit Best Debt Consolidation Loans for Bad Credit Personal Loans if You Don't Have Credit Best Credit Cards for Building Credit Personal Loans for 580 Credit Score Lower Personal Loans for 670 Credit Score or Lower Best Mortgages for Bad Credit Best Hardship Loans How to Boost Your Credit Score Taxes +More All Taxes Best Tax Software Best Tax Software for Small Businesses Tax Refunds Small Business +More All Small Business Best Small Business Savings Accounts Best Small Business Checking Accounts Best Credit Cards for Small Business Best Small Business Loans Best Tax Software for Small Business Personal Finance +More All Personal Finance Best Budgeting Apps Best Expense Tracker Apps Best Money Transfer Apps Best Resale Apps and Sites Buy Now Pay Later (BNPL) Apps Best Debt Relief ![]()
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