Compare every way to deal with debt before you pick one
In the US you can consolidate, settle, join a debt management plan, or work it out yourself — and free help exists alongside the paid routes. This site lays out what each one actually costs and does to your credit.
What's happening right now?
Six ways into the same decision
Pick whichever matches what you're actually trying to figure out.
See the free options first
Nonprofit counseling and DIY methods, explained honestly.
Read the free options →Understand what happens to your credit
Consolidation, settlement and DMPs affect your score differently.
Compare the credit impact →Check the tax surprise
Settled debt can be taxed as income, and most people don't expect it.
See the tax rules →Try negotiating it yourself
You can call a creditor directly, without paying an agency.
See how it's done →When bankruptcy is the honest answer
Sometimes it's the most sensible option, not the last resort.
Read it straight →See the real numbers before you decide
Three calculators covering payoff timing, consolidation cost and debt-to-income, all showing total cost, not just monthly payments.
Snowball vs avalanche
See whether paying your smallest balance or your highest-rate balance first actually gets you out of debt sooner, and for less total interest.
Assumptions this uses
- Interest accrues monthly on the remaining balance at the rate you enter.
- Minimum payments stay fixed at the amounts you enter for each debt.
- Your extra monthly amount is applied in full to whichever debt the chosen method prioritizes.
- Once a debt is paid off, its full former payment rolls into the next targeted debt.
- Figures are estimates based on the numbers you provide, not your actual statements.
Limitations: This does not account for changing interest rates, late fees, new charges added to any balance, or months where you can't make the full extra payment.
Runs entirely in your browser.
Write down your balances first
Before you call anyone, a creditor, a counselor, or a settlement company, list every debt with its balance, rate and minimum payment on one page. It takes about ten minutes and means you won't be caught off guard, whoever the call is with.
Ask about your specific situation
A plain-English assistant that explains options and consequences. It doesn't replace a counselor or a lawyer.
Ask about your situation
If you'd like a second read on your situation, you're welcome to reach out. This isn't a promise of a specific outcome, just an invitation to ask.
There's no wrong way to describe what's going on, and you don't need exact numbers to reach out.
Partner link — we may be paid a fee at no cost to you. How we make money.
Compare consolidation loans
If a lower-rate loan genuinely beats what you're paying now, this is where to see real offers side by side.
Compare loan options →The Debt Options Decision Worksheet
List every debt in one place, compare consolidation, settlement, a DMP and DIY payoff side by side, and walk into any conversation, free or paid, already prepared.
Where to look next, if you want a paid option
These are paid providers, shown after the free options, not instead of them. None of them promises a specific outcome.
How we make money: some links here are partner or affiliate links and we may be paid a fee at no cost to you. It never changes what we write or how options are ordered — see our disclosure and methodology.
LendingTree — Debt Consolidation Loans
Compare consolidation loan offers from multiple lenders in one place, based on the numbers you enter.
Compare loan offers →Debt Consolidation & Relief FAQ — US
No hedging, no upsell. Where the honest answer is 'it depends,' we say what it depends on.
Is debt consolidation the same as debt settlement?
No. Consolidation combines what you owe into one loan or plan, usually at a lower rate, and you still repay the full balance. Settlement means negotiating to pay less than you owe, which usually damages your credit more and can create a tax bill on the forgiven amount.
Will debt consolidation hurt my credit score?
There's often a small, temporary dip from the credit check and the new account, but on-time payments on a single consolidated loan can help your score over time. It depends more on whether you keep old cards open and unused than on the consolidation itself.
Is credit counseling really free?
The initial session with an NFCC-affiliated nonprofit agency is free in almost every case. If they recommend a debt management plan, that carries a small monthly fee, but the counseling and advice itself don't cost anything.
Do I have to pay taxes on forgiven debt?
Often, yes. If a creditor forgives $600 or more, they typically send a 1099-C, and the IRS treats that amount as income unless an exclusion such as insolvency applies. Check IRS Topic 431 before agreeing to any settlement.
Can a debt collector call me at work?
Under the Fair Debt Collection Practices Act, they generally have to stop once you tell them, verbally or in writing, that your employer doesn't allow it. You can also tell them in writing to stop contacting you altogether, with some exceptions.
What's the difference between the snowball and avalanche methods?
Snowball pays off the smallest balance first for quick wins; avalanche pays off the highest interest rate first to save the most money. Avalanche is usually cheaper overall, but snowball can be easier to stick with.