As of mid-2025, Americans are carrying — and if the rising debt levels weren't concerning enough, they're carrying this debt at a time when interest rates remain high overall. Credit card debt can be particularly problematic now, though, as rates on these short-term borrowing tools are currently hovering near historic highs. With credit card interest charges compounding at today's high rates, many cardholders are finding it difficult to make even the minimum monthly payments. 

In turn, more borrowers have been looking to debt relief as a way to regain control. Debt relief companies typically offer a range of solutions for your high-rate, unsecured debt, including debt forgiveness, also known as debt settlement. With this type of debt relief, the company's experts try to negotiate with your creditors to settle your debt for less than what you owe. While that has its risks, including potential credit score damage and tax implications, debt settlement can offer a lifeline for people struggling to stay afloat financially. 

But not all companies are created equal. Some offer unique types of support and strong customer service, while others may come with hidden fees or questionable practices. So, knowing which companies are trustworthy and fully understanding how debt relief works is crucial before signing up. 

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

• Best for customer satisfaction: Accredited Debt Relief
• Best for legal assistance: Freedom Debt Relief
• Best for pricing transparency: DebtBlue
• Best for quick debt resolution: New Era Debt Solutions
• Best for overall value: Pacific Debt Relief

Best for customer satisfaction: Accredited Debt Relief

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 boasts  with the Better Business Bureau (BBB), as well as a low number of complaints. It also has , 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.

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Best for legal assistance: Freedom Debt Relief

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.

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Best for pricing transparency: DebtBlue

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 plain English. 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. 

Best for quick debt resolution: New Era Debt Solutions

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 of to 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.

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Best for overall value: Pacific Debt Relief

Founded in 2002, Pacific Debt Relief is one of the oldest companies on our list, but what sets Pacific it apart is its unique fee structure. Unlike other companies, the fees with Pacific Debt Relief and 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.

Debt relief advice to know now

Before you make any decisions on how to deal with your debt, it may help to consider the following: 

• Today's high rates mean you should act quickly. Carrying a credit card balance can quickly become costly at today's rates. If you're falling behind, it makes sense to pursue debt relief quickly, before compounding interest buries you deeper.
• It's important to do your homework. Some debt relief companies put you at risk with their predatory practices, so you'll need to vet your options carefully. During this process, be sure to confirm accreditation and read recent consumer reviews to make sure you're working with a reputable provider. 
• Not all debts will qualify for debt relief. Debt relief programs only address unsecured debts like credit cards and personal loans. Auto loans, mortgages, student loans and tax debts may require specialized solutions or a bankruptcy route. 
• There could still be a credit impact. If you're going to pursue debt relief, you should brace for a potential hit to your credit score — and that hit could be substantial depending on where you started.
• You could owe taxes on any settled debt. The IRS considers forgiven debt as taxable income, so if you have a portion of your debt forgiven during the settlement process, you'll likely face a higher tax bill next year.
• It makes sense to consider the alternatives. You may have more options than you think for resolving your debt. For example, if your credit is intact, a debt consolidation loan or credit counseling program may make more sense. But if you're behind and debt is piling up, pursuing debt relief may be the most viable option.

The bottom line

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.