It is common for people to borrow and pay for their education, housing, or supplement other pressing financial requirements. However, the high-interest rate and repayment schedule often make it difficult for borrowers to manage their debt. To help pay off outstanding amounts, debt settlement companies help reduce and consolidate loans for better financial management.

Have a look at the top 10 debt settlement companies and their key features.

National Debt Relief
National Debt Relief offers the best short programs for a larger (minimum $20,000) debt payoff.

Accredited Debt Relief
If you are struggling to pay off multiple creditors, American Debt Relief can help you with your outstanding debts with its unique 12 and 48-month programs. The minimum amount you can settle is $7,500 and at present, the company has active operations in only 32 states.

Freedom Debt Relief
Freedom Debt Relief is one of the top AFCC accredited choices for variable programs that cater to a large customer base. On average, you may incur a 22% charge for settling debts as low as $7500. Currently, the service is operational in 37 states.

Guardian Debt Relief
Guardian Debt Relief has both AFCC and IAPDA (International Association of Professional Debt Arbitrators) accreditation. With a minimum debt requirement of $7,500, the company charges an approximate fee of 20% for a significant 50% debt reduction of the total due.

DMB Financial
DMB Financial is another stellar IFCC and IADPA accredited debt Settlement Company that is currently operating in only 26 states. The average fee for services is set at 21.5% approximately of the total debt settled across reputed providers.

New Era Debt Solutions
In comparison to most services, New Era charges a slightly lower fee for its settlement services. Numbers vary between 14% and 23% depending on the amount of debt, with an average 51% reduction rate in the amount owed. You can avail their services in 47 states at present.

Money Management International (MMI)
MMI has been providing reliable credit card debt management and financial counseling services since its inception in 1958. The service provides assistance for managing a niche range of financial products of debt.

Cambridge Credit Counseling
Cambridge Counseling offers informative resources with good customer support to help reduce and manage your credit card debt. Their counselors claim credit card interest can be reduced to less than 10%.

Pacific Debt Relief
A dedicated case handler is assigned to evaluate your financials and draw up a suitable plan that lets you pay off the debt at a lower rate with a quick turnover. This is one of the reasons why Pacific Debt Relief is one of the top 10 debt settlement companies in the country.

Consolidated Credit Counseling
For a fixed monthly cost, dedicated advisors and counselors at Consolidated Credit help manage and reduce credit card, housing, and personal finance debt. This is a customer-friendly and more affordable alternative to the options mentioned above.