Independent, clearly explained guides to US personal finance
The Debt Desk
Understanding your options for paying down debt without the pressure tactics.
Compare providers
Nonprofit credit counseling and debt management plans, alongside debt settlement companies — with the trade-offs of each made clear. Last reviewed October 23, 2026.
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8 providers
National Foundation for Credit Counseling
Best for: Finding a vetted nonprofit counselor near you
The largest nonprofit financial counseling network in the US. Its member agencies offer credit counseling, budgeting help and debt management plans, and must meet NFCC standards.
Fees
Counseling often free; plan fees vary by state
Official site · not a sponsored link
Reviewed Oct 23, 2026
Nonprofit credit counseling agency
Best for: Nonprofit debt management plans
A long-established nonprofit offering free credit counseling and debt management plans that can lower interest rates and roll card payments into one monthly payment.
Fees
Free counseling; modest DMP fees
Official site · not a sponsored link
Reviewed Oct 23, 2026
Nonprofit credit counseling agency
Best for: Counseling plus housing and bankruptcy education
One of the largest nonprofit counseling agencies, offering debt management plans, housing counseling and the education courses required for bankruptcy.
Fees
Free counseling; modest DMP fees
Official site · not a sponsored link
Reviewed Oct 23, 2026
Debt settlement company
Best for: Large unsecured balances
One of the largest debt settlement companies. It negotiates with your creditors to accept less than the full balance, charging a fee only after each debt is settled.
Fees
Up to 25% of enrolled debt
Official site · not a sponsored link
Reviewed Oct 23, 2026
Debt settlement company
Best for: Lower debt minimums, all 50 states
A debt settlement company available in every state, with a lower minimum debt than most competitors and fees charged only after settlement.
Fees
15%–25% of enrolled debt
Official site · not a sponsored link
Reviewed Oct 23, 2026
Debt settlement company
Best for: An established settlement program
A large, long-running debt settlement company that negotiates reduced payoffs on credit cards and other unsecured debts, with no fee until a settlement is reached.
Fees
15%–25% of enrolled debt
Official site · not a sponsored link
Reviewed Oct 23, 2026
Debt settlement company
Best for: Comparing settlement and other options
A debt relief company offering settlement programs, with fees charged after debts are resolved.
Fees
14%–29% of enrolled debt
Official site · not a sponsored link
Reviewed Oct 23, 2026
Debt settlement company
Best for: Larger debts and shorter programs
A debt settlement firm with a relatively short average program length, charging its fee only after each settlement.
Fees
Charged after settlement
Official site · not a sponsored link
Reviewed Oct 23, 2026
Debt settlement can seriously damage your credit, may lead to collection activity or lawsuits while accounts are unpaid, and forgiven debt may be taxable. Results aren't guaranteed. By law, settlement companies can't charge fees until they settle a debt. Consider nonprofit credit counseling first.
Our top picks
5 picks
Debt relief options compared — nonprofit counseling and debt management plans alongside debt settlement companies, with fees and trade-offs.
3 picks
Where to find trustworthy nonprofit credit counseling and debt management plans.
How we compare providers
We review each provider's published terms and compare them on what matters most. Rankings are editorial: partners can't pay for a better position, and any sponsored link is labelled. Terms change, so every entry shows the date it was last reviewed.
Fees as a share of enrolled debt, or counseling and plan fees.
How each approach affects your credit while you're enrolled.
Minimum debt, types of debt accepted and state availability.
Nonprofit status, industry accreditation and fee transparency.
The essentials
Debt isn't inherently a problem — how it's structured and managed is what matters. Secured debt is backed by an asset a lender can claim; unsecured debt isn't. Consolidation can simplify multiple balances into one payment, but it isn't automatically cheaper.
This section covers how debt consolidation actually works and how lenders think about your debt-to-income ratio when evaluating an application.
Debt guides
In-depth explainers from our editors, newest first.
When you can't pay every bill, the type of debt matters. Here's how secured and unsecured debts differ when things go wrong — and how to prioritize without making it worse.
TheMoneyCraze Editors
Quick answers
The questions readers ask us most about debt.
Not directly — consolidation combines multiple balances into a single payment, often at a different interest rate. It can lower your monthly payment or total interest depending on the terms, but it doesn't reduce the underlying amount owed on its own.
Debt-to-income ratio compares your monthly debt payments to your monthly income. Lenders use it, alongside credit history, to gauge how much additional debt you can reasonably take on — a lower ratio generally signals more room for new borrowing.
Both are common strategies. Paying the highest-interest balance first generally saves more money overall. Paying the smallest balance first can build momentum through quicker wins — the better choice often depends on which approach you're more likely to stick with.
Related desks
A closer look at a few connected topics.