If you’re struggling to pay off debt, you may be able to lower your monthly payments by enlisting the help of a debt relief company.
Unlike debt consolidation, which merges multiple balances into one loan (ideally with a lower interest rate), companies that provide debt relief negotiate with your creditors to lower your balance and help you get out of the red faster.
Debt relief, also known as debt settlement, isn’t guaranteed. And it comes with risks, including a lower credit score, substantial fees and even lawsuits.
CNBC Select analyzed numerous debt relief companies and chose the top ones based on fees, availability, company history and customer satisfaction. (Read more about our methodology below.)
