Not sure which debt relief option is right for you? Answer a few quick questions to get an educational estimate of which solutions may fit your situation.
This tool is educational only and does not constitute financial advice. Individual eligibility varies by provider and state.
Answer these 5 quick questions to get educational guidance on which debt relief options may fit your situation.
1. How much unsecured debt do you have?
2. Are you experiencing financial hardship?
3. What best describes your income situation?
4. What types of debt do you primarily have?
5. How important is protecting your credit score?
Please answer all questions to see your results.
Most debt settlement companies require a minimum of $7,500 in unsecured debt, though many prefer $10,000 or more to make the program economically viable.
Not necessarily to start, but most debt settlement programs are designed for people experiencing genuine financial hardship. You typically need to demonstrate that you cannot maintain minimum payments.
Unsecured debts: credit cards, personal loans, medical bills, certain private student loans, and lines of credit. Secured debts (mortgages, auto loans) and federal student loans generally do not qualify.
Debt settlement typically lowers your credit score temporarily. Credit counseling and consolidation loans generally have a milder impact. Bankruptcy has the most significant long-term impact. We recommend weighing all options carefully.