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.
The main debt-relief options are a debt management plan through a nonprofit credit-counseling agency, a debt-consolidation loan, for-profit debt settlement, and bankruptcy. Each works differently: consolidation moves debt into one payment, settlement aims to reduce the balance, and a management plan restructures payments and interest. The right fit depends on your income, credit, and total debt.
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| Option | How it works | Typical timeline |
|---|---|---|
| Debt management plan | One monthly payment via a nonprofit counselor; may lower interest | 3–5 years |
| Consolidation loan | New loan pays off other debts; one fixed payment | 2–7 years (loan term) |
| Debt settlement | Company negotiates reduced payoffs; you save into an account | 2–4 years |
| Bankruptcy | Court process (Chapter 7 or 13); legal debt relief | Ch. 7: months · Ch. 13: 3–5 yrs |
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.
