Best Debt Relief Companies | May 2021
If you're experiencing financial hardship and struggling to pay your credit card or other unsecured debts, you may be able to negotiate a settlement with your creditors. Debt settlement (or debt relief) service providers operating under FTC regulations specialize in negotiating with creditors on behalf of their clients. Debt settlement companies act as intermediaries between an individual and one or more of their unsecured creditors to obtain a reduction in principal owed.
Cutting your debt in half may sound like a no-brainer, but negotiating a debt settlement is not a decision you should take lightly. It will damage your credit and the IRS may consider the money you save as taxable income. If you do choose to hire a debt relief firm, take your time to choose the best fit for your financial situation.
Compare the best debt settlement firms below as determined by the recommendations of SuperMoney community members and SuperMoney's algorithms.