Is it really possible to pay off some of your debt for less than you owe? For hundreds of thousands of people, the answer has been yes, through a process called debt relief. It works by negotiating with creditors to settle your debt for a lower amount, and many have done it successfully with help from National Debt Relief.
If you’re struggling with unsecured debt like credit cards or personal loans, debt relief could be one option to explore. Here’s what the process looks like and how to know if it might be a fit for your situation.
Understanding Debt Relief
Debt relief, also called debt settlement, is a way to resolve certain types of unsecured debt for less than you owe. It works through negotiation. Your debt relief provider works with your creditors to agree on a lower lump-sum payment that settles the debt.
At National Debt Relief, this process begins with a free consultation. You’ll talk with a certified debt coach who will review your situation, explain your options, and help you decide if debt relief is a good fit. If it is, you’ll move forward with a customized plan.
What to Expect During the Process
If you enroll in a debt relief program, here’s how it usually works:
- Monthly deposits: You’ll make monthly payments into a dedicated account you control. These funds build up over time and are used to pay settlements.
- Negotiations: Your debt relief team works with your creditors to reach agreements that reduce the total amount you owe.
- Approval and payment: You approve each settlement offer before any funds are released. Once approved, the creditor is paid from your account.
- Timeline: Depending on your debt and your monthly deposit amount, you could see accounts resolved in as little as 24 to 48 months.
What Types of Debt Qualify
Debt relief is designed for unsecured debt—that means debt that isn’t tied to collateral like a house or car. Common types of unsecured debt that may qualify include:
- Credit cards
- Personal loans
- Medical bills
- Lines of credit
- Collections
- Repossessions
- Business debts
- Certain private student loans
In contrast, secured debts—like car loans, mortgages, or RV loans—are backed by an asset the lender can take if you stop making payments. These don’t qualify for debt relief programs.
How to Spot a Legitimate Debt Relief Company
Some companies promise fast fixes or ask for money upfront. That’s a red flag. A legitimate debt relief company will never charge fees before they’ve settled a debt—and they’ll be upfront about the risks as well as the benefits.
Here are a few signs you’re working with a trustworthy provider:
- They offer a free consultation and review your situation first.
- They explain how the process works, including potential impacts on your credit.
- They don’t make unrealistic promises.
- They don’t charge upfront fees.
National Debt Relief is one of the most established companies in the industry. It’s certified by the International Association of Professional Debt Arbitrators, holds an A+ rating from the Better Business Bureau, and has over 75,000 5-star reviews on Trustpilot. It’s also been ranked #1 by ConsumerAffairs, Forbes Advisor, and others.
Getting Started with Debt Relief
Understanding how debt relief works is the first step toward taking control of your financial future. If you’re struggling with unsecured debt, this approach could be one way to regain stability.
Before moving forward with any provider, ask questions like:
- What kinds of debt qualify?
- How long will the process take?
- What are the total costs?
- What happens if my situation changes?
Reputable companies will walk you through all of this and more. It’s also smart to read reviews, compare programs, and check the Better Business Bureau for ratings and complaints. With the right support, debt relief could help you resolve your debts and move forward with more peace of mind.
