Debt Payoff Guide is a free service that connects consumers with third-party debt-relief providers. We are not a lender, law firm, credit-counseling agency, or debt-settlement company, and we do not provide financial, legal, or tax advice. Information here is general and not a recommendation.
With debt settlement, you typically stop paying creditors and save into a dedicated account while a company negotiates reduced payoffs; it commonly takes two to four years. A debt management plan sets one monthly payment through a counseling agency, usually over three to five years. Consolidation replaces multiple debts with a single new loan you repay on schedule.
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| Option | How long it usually takes |
|---|---|
| Debt settlement | 2–4 years |
| Debt management plan | 3–5 years |
| Consolidation loan | The loan term (often 2–7 years) |
| Chapter 7 bankruptcy | About 3–6 months |
| Chapter 13 bankruptcy | 3–5 years |
No. We're a free matching service. We are not a lender, law firm, credit-counseling agency, or debt-settlement company, we connect you with third-party providers who do that work.
Nothing. Our service is free for consumers. The providers in our network pay us when we refer you, so you're never charged for the connection.
It depends on the option you choose. Debt settlement and missed payments can lower your score before it recovers; a consolidation loan or credit-counseling plan may have a smaller impact. We explain the trade-offs so you can decide.
Under the FTC's Telemarketing Sales Rule, companies that sell debt-relief services by phone can't collect fees until a debt is actually settled and you've made a payment. Be cautious of any company demanding money upfront.
No. If you want nonprofit credit counseling, look for a member of the National Foundation for Credit Counseling (NFCC). We can also connect you with counseling and other options so you can compare.
Tell us what you owe, we'll match you with a provider, free and with no obligation.
