Dept Help Options

Updated May 2026  ·  Reviewed by our editorial team

Find the right debt solution
for your situation

We’ve reviewed the most common options so you can compare what fits your finances — not just the one with the biggest marketing budget.

4Options Compared
~5 minReading Time
FreeNo Cost to Compare
No personal info required to browse
Editorial independence — we explain the trade-offs
Reader-first comparisons
Affiliate disclosure included

Not sure where to start?

Answer 3 quick questions and we’ll point you to the option that likely fits best.

Take the 1-Minute Quiz →
Affiliate disclosure & editorial note: Some links on this page are affiliate links — we may earn a commission if you apply or enroll through them, at no extra cost to you. This does not influence our editorial assessments. The information below is for educational purposes only and is not financial or legal advice. Individual results vary. Please evaluate your own situation carefully.
Your options at a glance

4 paths people commonly explore

Each option has a different audience, timeline, and risk profile. We break down the essentials.

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Editor’s Pick

Debt Consolidation Loans

Roll multiple balances into one fixed monthly payment — often at a lower interest rate than credit cards.

Best forGood credit (620+)
Timeline2–5 years
★★★★★ Most recommended for qualifying borrowers
  • Simplifies multiple payments into one
  • May lower your overall interest rate
  • No negative credit impact if managed well
  • Requires decent credit to qualify
  • Doesn’t reduce principal owed
Compare Consolidation Offers →

Free to check rates · No hard credit pull to browse

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Popular

Personal Loan Marketplaces

Compare pre-qualified offers from multiple lenders in one place without damaging your credit score.

Best forAny credit range
Timeline1–7 years
★★★★☆ Great starting point for most people
  • Shop multiple lenders at once
  • Soft pull — no credit score impact
  • Fast approvals (often same day)
  • Rates vary widely by lender
  • Some lenders have origination fees
Browse Loan Marketplaces →

Checking rates won’t affect your credit score

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Nonprofit Credit Counseling

Work with a certified counselor to review your budget and explore a structured debt management plan (DMP).

Best forOverwhelmed borrowers
Timeline3–5 years
★★★★☆ Low risk, highly educational
  • Free or low-cost counseling sessions
  • Creditors may reduce interest via DMP
  • Structured, coach-guided approach
  • Takes longer than a loan
  • Must close enrolled credit accounts
Find a Credit Counselor →

NFCC-certified agencies available nationwide

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Debt Settlement Programs

A company negotiates with creditors on your behalf to potentially reduce what you owe. High risk — use with caution.

Best forSevere hardship
Timeline2–4 years
★★★☆☆ Understand all risks before enrolling
  • May reduce total debt owed
  • Alternative to bankruptcy
  • Significant credit score impact
  • Fees can be substantial (15–25%)
  • Creditors aren’t required to settle
Learn About Settlement →

Read program terms carefully before enrolling

Side-by-side

Quick comparison

A fast look at how these options stack up on the things that matter most.

Option Reduces Principal? Credit Impact Min. Credit Score Cost
Debt Consolidation Loan No Neutral / Positive 620+ Interest only
Personal Loan Marketplace No Neutral Varies Interest + possible fees
Credit Counseling / DMP No Slightly negative short-term None required Low / free
Debt Settlement Yes — potentially Significant hit None required 15–25% of enrolled debt
Before you decide

5 things to evaluate first

Regardless of which option you explore, make sure you’ve thought through these.

1
Your total outstanding debt across all accounts
2
The interest rates and fees on each balance
3
Your current and target credit score
4
What a realistic monthly payment looks like for you
5
The reputation and accreditation of any company you consider
Educational content notice: This page is intended for informational purposes only and does not constitute financial, legal, or tax advice. Results vary based on individual circumstances, creditworthiness, and lender policies. We encourage you to consult a qualified financial professional before making decisions about your debt. Links marked with → may be affiliate links.