Best Debt Consolidation 2020

Discover the best Debt Consolidation solutions on Hot5. We have compared the top debt solution providers to ensure you can find the best repayment scheme for you.

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Free consultation and quotes

  • Both debt settlement and tax relief programs are excellent
  • One of the highest savings rates in the industry
  • A unique approach to debt settlement
Rating: 4.9/5
rating: 4.9

Free Debt Consolidation Consultations

  • Both secured and unsecured debts accepted
  • The full array of debt relief services
  • Respectable accreditations

Free of charge consultations for all customers

  • Standard industry fees
  • Almost all unsecured debts accepted
  • A+ BBB Score
Rating: 4.5/5
rating: 4.5

Free quotes and consultation

  • Amazing reputation in the debt relief field
  • No set enrollment fees
  • Many debt types accepted

Personal debt settlement manager

  • 43-states availability in the US
  • Incredible rate of successful relief negotiations
  • Military/Veteran discounts
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No consultation and cancellation fees

  • Direct negotiations
  • Short turnaround time
  • A lot of debt types eligible

Free consultation

  • Swifter response times than most competitors
  • A wide range of unsecured debts accepted
  • High user feedback ratings

Freedom Debt Relief

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Freedom Debt Relief Review


  • Stellar customer support available through multiple channels
  • Free educational materials on their website
  • No upfront fees, you only pay after negotiations
  • Trusted and well reputable company


  • Unavailable in 18 states
  • No guarantees

Freedom Debt Relief is an aptly named debt consolidation company founded in 2002 by members of the Stanford Business School looking to ease the weight of debt on the US population. This company is especially popular because of their Texas debt settlement services, as they attempt to help the third most indebted state. Freedom Debt Relief falls among the best debt settlement companies simply because it tries to offer services to people with very limited possibilities. While they don’t offer a settlement guarantee, they also don’t need a full credit report or anything except large amounts of debt. Debt consolidation companies often don’t try very hard when it comes to fighting for their clients – Freedom Debt Relief is not among them, as they will fight tooth-and-nail to reduce your unsecured debt by as much as possible, providing fast track debt relief.

Freedom Debt Relief has only one eligibility criteria – at least $15,000 in unsecured debt. This includes all of your credit cards and bank accounts, so your total debt needs to be at least that much. After signing up, the company will come up with a debt management plan to pay off your credit associates until you are completely debt free. An FDIC-secured trust account is created to hold your payments until it’s time to pay them off, but in the meanwhile the debt settlement lawyer team at Freedom Debt Relief negotiates with your creditors, trying to lower your debt. When they have negotiated as much as possible, they begin paying off your debt by sending a debt settlement letter to each of your creditors to finalize the settlement. After the debt relief programs are over, credit consolidation begins, aiming to repair your credit after the initial shock of the debt relief program.

When it comes to reputation, Freedom Debt Relief excels far beyond their competition, as they are one of the founding members of the AFCC, an organization that accredits companies that offer consolidated credit solutions. Also, this company is a platinum member of the IAPDA as well, and Trustpilot gives the service a rating of ‘Excellent’. Credit card debt relief is their specialty and FDR has reported a large number of successfully negotiated cases concerning it. Of course, this can be verified by reading all the accredited debt relief reviews online and more than 90% of them show that Freedom Debt Relief is a reliable company. This bolsters the company’s reputation even further and this is harder to do than you think because they’ve had tens of thousands of customers since their beginning. This level of trust increases even further when you actually call the company – for the first time in forever, you won’t hear an outsourced customer support agent on the other side because FDR only employs certified debt consultants to help with your debt relief process.


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CuraDebt Review


  • Low service fee
  • Aggressive bargaining with creditors
  • Well accredited
  • Wide variety of services available


  • Account maintenance fee
  • Website could use some improvements in readability

CuraDebt is one of the oldest debt relief companies today. Founded in 2000, it has given customers a wide variety of services throughout its existence. They offer services such as chapter 7 bankruptcy, chapter 13 bankruptcy, credit consolidation, debt reduction services for any unsecured debt you may have, making them one of the best debt settlement companies out there. They offer competitive rates and while they do charge a small account maintenance fee to use their services, they also have a very high rate of negotiating great deals for their clients. With a stellar reputation, a history of victories against creditors and a customer support team that will work with you personally, this company surpasses expectations even when they are high.

CuraDebt requires a verifiable income and a minimum age of 21, as well as a minimum of $10,000 of unsecured debt. This may vary as the amount of debt may be dictated by the state of residence or the type of accrued debt. After you sign up, the debt settlement lawyer team at CuraDebt comes up with a debt management plan where you will deposit funds into a separate account while the team contacts your creditors as aggressively as possible to lower your debt. They will send a debt settlement letter to each of your creditors, getting them to offer a settlement instead of asking for the lump sum.

When you’ve saved up enough money, the company will start paying your credit associates off in monthly sums until you’re debt free. Not many debt consolidation companies offer this type of service – CuraDebt staff is trained to get the largest possible reduction. Additionally, CuraDebt offers tax relief by checking your tax history to see if you’ve made any mistakes over the years or you have any unpaid taxes.

As far as customers’ trust towards CuraDebt goes, there is nothing to complain about as all of their reviews have been stellar. CuraDebt offers customers an opportunity to lower their debt like with no other company, and this is shown in their reported cases, where they reduced debts by as much as 74%! They have published deals with First Bankcard of Omaha, FIA card services, Comenity bank and even USAA student loans where the clients received at least a 50% reduction. While this isn’t unheard of, it’s clear that this company cares about its customers enough to go the extra mile.

This makes CuraDebt one of the best debt consolidation companies in the world, but it’s only a fraction of their true reputation. This company is accredited by the IADPA and AFCC, which means you can trust them with your credit as thousands of customers have before. Additionally, they contact third-party analysts as well to provide the best debt relief environment for their customers. Finally, CuraDebt is hoping to get accredited by the third large accrediting organization in this field, the FTC.

Almost every modern citizen in the world has some kind of monetary debt to an institution. Be it student loans, credit card payments, or car leasing, all of those are responsible for a certain amount of our monthly expenses. And while some people can manage their finances better than others, the latter are sometimes left with more debt they can cover at a certain moment.

An option in taking care of our debts is debt consolidation. It simply puts all of our existing debts into one combined loan to the debt consolidation provider. It enables easier payments as we don’t need to go around and pay our monthly fees here and there – all of that is taken care by the debt consolidation vendors.

The debt consolidation loan we get from an eligible consolidation brand lets us pay our debts and continue paying only them. Be it home equity or a straightforward debt consolidation loan, they both serve the same purpose. To simplify our owned amount and put it in one place. However, we don’t advise going after a home equity loan because it uses your home as collateral. And it is better to have a few credit cards on hold rather than being out of your home.

An important thing to remember is that debt consolidation doesn’t lower the amount we owe to any establishment. The same amount of debt is yet to be paid by us in the future, following monthly installments of fixed or adjustable fees. The good thing is that we can’t plainly forget to deposit to a certain vendor as we only have the single one to keep in mind.

Basic Information and Knowledge

It is important to know when to reach out for debt consolidation services and when to wait a moment. If you have just a few debts in place, with a low-interest rate on them, it is better to stay put because debt consolidation loans also pack interest fees. In cases when the second are higher than the first ones, it would be financially not logical to strive to settle our debts by getting a loan.

Consolidation loans come with additional fees and the so-called Points as well. A Point refers to one percent of our borrowed amount and plays a role in calculating total loan value. And because most consolidation debts are secured, the designated establishment can very well seize our property (or other collateral) if we fail to pay our monthly fees for a period of time.

Consolidation loans with a lower interest rate than our initial creditor rates can be rather helpful to our financial well-being in the future. They eliminate the need to cope with various APRs across the board and let us have a strong idea of how to resolve our finances each month. Debt consolidation also comes with options for the aforementioned adjustable interest rates which can bring our total debt to a much lower value than we thought of.

Benefits of Debt Consolidation

Moving on to the benefits of Debt Consolidation, there are a few that stand out in front of the crowd. We will briefly discuss them to give you a sense of what to expect in an event of using debt consolidation service provider to relief your debts.

  • Less Stress

Having to go over five or more creditor accounts to settle monthly payments can be both exhausting and stressful. Not only do you go over the process multiple times but you also deal with different interest rates and challenges (some vendors don’t offer online payments so this will result in going to the bank/office to deposit the monthly fee). Having everything bound by a debt consolidation loan presents you with the opportunity to emphasize on a single monthly payment with a clear interest rate fee – this grants the needed clarity of mind that you have taken the action to reduce your debts and succeed in getting them to 0 after some time.

  • No More Collection Calls

Almost any person on the planet has dealt with collection calls at some point. It may have been for the 15 cent electricity bill regarding the crooked house in the nearby village that we don’t go to anymore but still, we have heard the voice on the other end of the line, politely asking that we go over and pay what’s owed. In a situation where such calls can come from several companies will escalate the sense of annoyance and inconvenience, especially if we don’t have the needed funds to cover the monthly deposit. With debt consolidation loans, you leave all of that in the debt relief services provider and can calmly go back to the routine without the presence of collectors in your ears.

  • The Almighty Credit Score

A credit score is an important metric to keep good track of. Frequent late payments to any of your creditors directly reflect on your credit ratings and can become a problem after a while. In cases of mortgages or other hefty loans, your credit score is an essential statistic variable and it is best to keep it as high as possible. Getting a consolidation loan to cover all existing debts and put them into one place reduces the chances of hurting your credit score by a lot. Only one place to receive your monthly payments means fewer options for creditors to bring you down. Staying clean on your debt relief deposits afterward guarantees a solid credit score for the years to come.

The last two of the 5-benefits stack we did mention earlier in one form or another. Having only a single payment to remember is useful and the lower interest rates benefit your financial state and are lighter on the wallet for the days to come. Those are all excellent reasons to consider debt consolidation loan as the answer to the pilling debts connected to your accounts. It may seem odd in the beginning but once you gather enough information you will gladly see if this is the option for you or not.