Debt Consolidation Companies

Good debt consolidation companies give you the best deal possible.

But the good ones also provide superior service and foster an environment of caring and understanding.

They answer your questions with a friendly tone.

They sympathize with your situation and listen to you more intently when you talk about what you're going through. The good ones leave you feeling like you're not alone in battling your debts.

Unfortunately, finding companies like that isn't so easy.

With so many debt related firms popping up daily, it can be hard deciding the good from the bad.

That's why we've put together this company guide.

We review the best debt companies online and show you which ones are worth a look. The firms on our list are not only well established, but they make it easy to get your questions answered. Some of them have been in business for 10 years or more.

And many of the firms provide a free consultation with absolutely no obligation on your part whatsoever.

Top Debt Consolidation Companies Online

Keep in mind that this list is just a starting point for you. Feel free to research companies on your own (online and offline).

And always try to pay off debt on your own first, before seeking outside help. That's a primary rule for anyone in debt. And it's something we stress on this website a lot.

Always try the "do-it-yourself" approach before you try anything else.

But if you've given that a try already and still need help, here's the list of the best debt consolidation companies available online...

#1 National Debt Relief

They specialize in debt reduction whether the debts are credit card balances, unpaid medical bills and other unsecured debt, which may include some business debts.

Many people that are in debt try to get a new loan at a lower interest rate to reduce their monthly payment.

But then they quickly realize they don't qualify for a loan.

That's where National Debt Relief comes in to play and why we have them listed first. They are the alternative for people that don't qualify for a loan but still need a debt reduction plan.

With today's lending standards, it's much harder to qualify for a loan.

Read our full review of National Debt Relief.

The company's mission is to reduce debt balances, waive penalties and get you out of debt sooner than if you were just making minimum monthly payments. NDR does not charge fees upfront.

Accredited by the Better Business Bureau (BBB), National Debt Relief may also prevent certain types of repossessions while eliminating stressful calls by aggressive creditors.

NDR enrolls clients with unsecured debt balances of at least $10,000 or more. Their debt counselors work with you to create a financial plan to help put you back on the right financial path.

#2 CuraDebt

They are one of the more reliable debt settlement and debt consolidation companies on the net. Initial consultation is free, and a negotiator is immediately assigned to your case.

The debt settlement process follows standard industry practice of directing monthly payments to an account held in trust.

They also offer the more traditional debt consolidation options such as a loan with better rates than you're currently paying.

Read full Curadebt review.

When your debt settlement account value reaches a minimum threshold, their negotiators contact your creditors to arrange a settlement that involves reducing balances and waiving penalties.

That's how the settlement process works.

Alternatively, CuraDebt offers a debt consolidation program. Clients may take out a low-interest loan that will be used to pay-off outstanding balances, effectively consolidating all balances into one payment at a lower interest rate.

The fee for CuraDebt's services is about 15 percent of the amount saved through settlement or consolidation.

#3 Accredited Debt Relief

Our thorough review of this firm shows they are an organization that is lawful and helps people that are unable to turn anywhere else. No major red flags popped in our research. And the consumer reviews were overwhelmingly positive.

They don't offer a loan program. Much like the company listed above, they negotiate a settlement with your creditors on your behalf. A person with any type of credit rating can get accepted into their program.

See our Accredited Debt Relief review.

You do need to have at least ten thousand dollars of debt as a requirement for them taking on your case. They also offer speedy service. They can get started on your debt within a few days of you signing up with them.

Check out our Accredited Debt Relief.

#4 American Debt Enders

ADE will determine if debt settlement or consolidation is the better option based on a review of your finances.

The company enrolls clients whose unsecured balances amount to at least $5,000. The package of services includes free credit counseling, insolvency analysis and asset preservation strategies among others.

Read full American Debt Enders review.

Negotiators with American Debt Enders will broker settlements with creditors and pay off those amounts using escrowed funds or proceeds of a low interest and budget-friendly loan.

They claim to have no upfront fees. When you're searching for the best credit card debt consolidation companies on the net, remember to keep track of ALL costs associated with your program.

#5 www.Prosper.com

Offers people a new way to obtain the money that they need for their projects. It's a great option for those who cannot qualify for a loan with a traditional lender. People who need money simply fill out the website's online application.

They explain what they need the money for so that potential investors can decide whether or not they would like to participate.

After enough investors have contributed toward the project, the borrower takes the money and does what he or she needs to do.

After borrowers accept the money, they make monthly payments that are distributed directly into the investors' accounts. Those with the best credit scores make fixed payments at an interest rate of 6.73 percent on their debt consolidation loans.

Read our Prosper review.

#6 DebtWave Credit Counseling

They have worked with over 100,000 individuals since its founding in 2001, and it has helped over 12,000 people eliminate their debts entirely.

It offers credit counseling sessions, debt management programs, bankruptcy counseling, student loan counseling and a financial education program, as well as a special financial assistance program for military families. It also runs the San Diego Financial Literacy Center.

DebtWave has obtained credit-counseling licenses from 28 states (note that not all states require a license) and has an A+ rating from the Better Business Bureau. These kinds of credentials matter in an industry that has its fair share of rip-offs.

With its established reputation and wide variety of services, DebtWave is a good resource for anyone facing personal financial difficulties.

Full DebtWave review...

Franklindebtrelief.com is for people who don't think they can qualify for one of the companies listed above. Franklin debt relief is a company that helps people reduce their medical bills, credit card bills and other accounts within a five year period.

While other companies do this by asking creditors to lower the interest rates, Franklin Debt Relief does it by asking them to lower their clients' principle balances, and they perform this service without charging any upfront fees.

Franklin offers its services to people who have experienced a catastrophic event that has devastated their finances.

If applicants can demonstrate that they lost their jobs or experienced a medical crisis that prevents them from re-paying their debts, they may be candidates for Franklin Debt Relief's services.

It's a great way to keep from having to file for bankruptcy.

Family and Friends: This might not be your best option, but it's an option you do have. Of course, you have to really make sure this is right for you. Borrowing from family and friends to pay off your debts can backfire and needs to be thought through carefully.

You have to make sure you can pay it back in a timely manner.

And you have to be absolutely certain about choosing the right family member or friend to borrow money from. Maybe you can do a combination of borrowing from a friend and one of the other companies listed above.

How to Evaluate a Company (Over-the-Phone)

Even though debt consolidation companies have popped up in many areas of the country, most Americans don't have a company located in their town or local area.

So the first human contact we have with a company is on the internet or over the phone...not in person.

But how can you judge a company representative over-the-phone or on the internet? Naturally, it's harder to know whether a rep has your best interest in mind when they aren't standing in front of you.

You can't judge their body language or see their facial expressions.

You can't tell if they are really taking you seriously. You can't tell a lot of things. Obviously, you're at a disadvantage.

However, there are some clues you can pick up on when you talk to a company rep on the phone or on the internet.

Here are a few of those clues...

#1) Do they sound robotic?

Do they sound like they are just trying to get through a telemarketing or sales script? Are they trying to hurry the conversation?

Those are sure signs that they don't truly care.

They are just trying to sign you up as fast as possible. If you sense that's the case, then it's time to start looking for another more reputable debt consolidation company on your list.

#2) Do they ask for an upfront fee?

Recent laws have made it illegal for debt companies to charge upfront fees. So if a company rep asks for money upfront, they probably aren't a legitimate company and you should move on with your search. Don't be afraid to stop communicating with companies you don't trust. If you feel something isn't right, walk away.

#3 How much does it cost?

While companies aren't allowed to charge you upfront, they do start charging eventually. Find out how much the total cost is and whether you will be paying it monthly. If a firm isn't being crystal clear about this, ditch them.

#4 What's the length and terms?

Do they seem reluctant to discuss the terms and full length of their program? This is where you really need to push for an answer. If they refuse to provide an answer, they may be hiding something. Move on.

Companies for debt consolidation that aren't upfront with you about everything aren't trustworthy or worth your valuable time.

#5 Are they reluctant to answer important questions?

This one is a combination of all of the above. Do they seem reluctant to answer questions in general? That is basically one of the best tools you have for trying to judge a company over-the-phone (or on the net).

If you sense that the company reps are hiding something and won't answer some inquiries from you, then that is the best "over the phone" indicator of whether the debt company is legitimate or not.

Well, that wraps up our guide to the best and most reputable debt consolidation companies we could find on the web.

I Hope You Succeed...No Matter What

I hope you found our company guide and reviews useful.

And I hope you're able to climb your way out of debt, whether it's consumer or business debt.

In fact, I know you can succeed.

How do I know?

Because you're still searching for answers.

You're actively seeking information that can help your situation. You're looking for the best advice that puts you in a position to succeed.

And that's what successful people do, they seek solutions to problems. They search for answers to a dilemma and then they take action. They do something about their problem.

Since you're reading this right now (searching for answers), you have a much better chance of accomplishing your goal of debt reduction.

Remember, one small step at a time can lead to big gains.

You just need to take that first little step.