Email FacebookTwitterMenu burgerClose thin

The 10 Largest Debt Consolidation Companies


Worried about your credit score? Debt got you down? Technically you don’t have to enlist the service of a debt relief, debt consolidation or debt settlement company. You can go to a non-profit credit counseling organization instead. If you’re willing to pay for help consolidating your debt, though, you should know the names on our list of the 10 biggest debt consolidation companies. 

Before you commit to a debt management plan with a debt consolidation company, it’s a good idea to check to see whether the company you have in mind is registered with one of these three organizations:

  • Financial Counseling Association of America
  • Association of Credit Counseling Professionals
  • National Foundation for Credit Counseling

You can also check the Better Business Bureau for ratings and accreditation records of debt consolidation companies in your state. The 10 debt consolidation companies on this list are all BBB accredited. They’re also all accredited members of the American Fair Credit Council, a trade organization for the debt settlement industry that applies its own set of standards and practices to the accreditation process.

1. Clear One Advantage

Clear One Advantage is a debt relief company based in Baltimore, Maryland. They offer free debt analysis and no upfront fees on debt management plans. They work with unsecured debt like credit card debt and medical bills and offer a 100% service guarantee.

2. Freedom Debt Relief

Freedom Debt Relief is based in San Mateo, California. Founded in 2002, the company helps clients enroll in debt management programs. The service is not available in all states and fees may vary from state to state. Their process starts with an assessment of your debt. Then, they get you saving and negotiate with your creditors on your behalf.

3. National Debt Relief

National Debt Relief offers free debt relief quotes to folks who have more debt than they can manage themselves. Based in New York, they work to reduce the balances owed on credit card debt, medical bills, certain business debts, repossessions and other unsecured debt. Their focus is on helping clients avoid having to declare bankruptcy.

4. Pacific Debt, Inc.

10 Largest Debt Consolidation Companeis

Pacific Debt, Inc. is based in San Diego. They work with you to develop a debt relief program that leaves you with a single monthly payment appropriate for your budget. They offer a free, no-obligation consultation to potential clients. Plus, they’ll work with you to develop strategies to change your spending habits so you don’t fall back into debt.

 5. Accredited Debt Relief

Accredited Debt Relief is another San Diego company offering debt management programs with no up-front fees. They offer free consultations and advise clients that it can take 24-48 months before debts are fully resolved. Accredited Debt Relief touts its team of negotiators and their ability to lower clients’ debt obligations.

6. Brite Solutions, Inc.

10 Largest Debt Consolidation Companies

After an initial, free debt consultation, Brite Solutions, Inc. works with clients to negotiate and reduce debt obligations. Formed in 2008, they also offer an educational book on becoming debt free. They call their debt-resolution programs “performance-based.”

7. DebtHelp, Inc. 

DebtHelp, Inc. has been around since 2006, helping consumers and businesses manage and pay off their debt. Their clients have brought over $341 million in debt to be managed and consolidated through customized debt management programs.

8. New Leaf Financial

New Leaf Financial is a New York-based company that offers clients help turning over – you guessed it – a new leaf in their finances. They offer a free first appointment and focus on helping you eliminate debt so you can work on other financial priorities like saving for the future.

9. RescueOne Financial

RescueOne Financial offers debt resolution and debt management plans. They also offer loans up to $80,000. They work with clients to negotiate and resolve current debt, as well as to develop a plan for staying out of debt in the future.

10. Timberline Financial

Timberline Financial aims to reduce your monthly payments by as much as half. They’re a New York-based company that doesn’t collect fees until they’ve started delivering results for clients. They’ll work with you to develop a debt-repayment timeline based on how much you can afford to make in monthly payments.

The Takeaway

Looking forward to the day when you’re finally debt free? We don’t blame you. Being in debt isn’t just a drain on your finances, it’s an emotional drain as well. It makes you lose sleep and neglect other financial priorities like saving for a down payment on a home or preparing for your retirement. The good news is that you don’t have to tackle your debt alone if you don’t want to.

Update: To make sure you stay on track financially and don’t end up in debt, consider working with a financial advisor. A matching tool like SmartAsset’s SmartAdvisor can help you find a person to work with to meet your needs. First you’ll answer a series of questions about your situation and goals. Then the program will narrow down your options from thousands of advisors to up to three fiduciaries who suit your needs. You can then read their profiles to learn more about them, interview them on the phone or in person and choose who to work with in the future. This allows you to find a good fit while the program does much of the hard work for you.

Photo credit: ©, ©, ©