List of debt relief programs to help to pay off all types of consumer debt.
Find how to get help with all forms of debt, whether from a bank, credit card company or any lender. Below is a list of different programs and organizations, with links to contact information, that can provide assistance. There are also plus practical steps you can take yourself. Lower-income households will often get counseling for free; other solutions have minimal costs.
The good news is that there are many debt assistance programs including government support, bank hardship programs, resources from non-profit agencies, and even legal protections. Some solutions are free, especially for lower-income families, while others have modest costs. The goal is the same: to reduce what you owe, restructure payments, or eliminate debt entirely with the main categories of debt payment help as following.
Debt relief from lenders, banks, and credit card companies
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Credit card debt relief comes in many types too, whether a non-profit DMP, negotiation program, refi or something else. Some borrowers can do this by themselves. But it is important to understand the options out there. The fact is banks and credit card companies are willing to work with a customer, or their representative such as a non-profit on debt relief, as lenders also want to limit the amount of unpaid financial obligations they have “on their books”. Find details on programs that provide list of programs for credit card help.
- Credit card companies can’t pursue payments after a certain amount of time. There are also state rules, regulations and timeframes that come into play. The debt typically can’t be collected after in 3 - 6 years, varying by state, debt type, and contract law named in your agreement. Learn more about statutes of limitations laws for credit cards.
- Credit card companies offer some form of help to their customers, ranging from payment plans to interest rate deductions, debt forgiveness, and more. We have listed a comprehensive list of credit card issuers and the relief (“Workout” plans) they offer their low-income customers, with some options focused on veterans. While not everyone will qualify for the solutions they offer, there is no harm in applying and learn more on credit card company assistance programs.
Debt settlement (forgiveness) is a process by which you will greatly reduce or maybe even eliminate the total amount of debt that you are paying or are committed to pay in the future. Solutions are available from lenders, corporations as well as credit counseling agencies for various types of accounts. Settlement, often called forgiveness, can help credit card, medical, and even personal loans. There are also non-profit as well as “for-private” debt settlement companies that offer help. Read more on debt settlement.
- Lawyers can help with enrolling into debt settlement programs. Attorneys, including from free legal aid organizations, will work directly with creditors on your behalf, including banks or credit card providers or loan organizations. Many of these attorneys work on a contingency basis, meaning the borrower will only need to pay them only if they are successful and save you money. Learn more about attorneys that settle debts.
- Most of the major banks and card issuers are also offering their own form of forgiveness or settlement plans. There is where a portion of the balance is forgiven in exchange for a lump sum or structured payment. Not only are they cutting out the “middle man” (per above), but they will also receive at least some payments from the customer, rather than nothing. Find a list of credit card company settlement programs.
DMPs, or Debt Management Plans, will help borrowers lower their interest rates, eliminate fees and therefore monthly payments. The programs are arranged directly by a credit card issuer or a free non-profit credit counseling agency. The company that you enter into a plan with will negotiate on your behalf with your creditors as well as give you free advice on getting back on track financially. Learn more on DMP - debt management plans.
Credit card company financial hardship programs are also more widely available. Citibank, Bank of America, Discover Card, Chase, Capital One, and others offer their customers this option, though they often go by different names. The plans can be effective for people impacted by a furlough, temporary reduction in income, unemployment, or other challenge. Find how to get help with paying credit card debt from a hardship program from a credit card company.
Veterans can get assistance getting out of debt. There are programs offered by the VA, non-profits, and banks such as Wells Fargo. In addition, under the Servicemembers Civil Relief Act (SCRA), pre-service debts can be capped at 6% interest with proper notice to lenders. Almost all of the services offered to vets (as well as their families) are free regardless of their income. Find more information on veteran focused debt assistance programs.
Federal government interest free loans, which are interest-free, deferred-payment loans may be available to small businesses and some individuals. The money from the government will be used to help pay / refinancing mortgages, credit card bills, and other expenses. Learn more on how to use government loans as a form of debt reduction.
How to settle or reduce debts yourself
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BNPL lenders provide assistance to their customers, but you need to take action. Taking some small, easy to implement steps now will put you on the right path when dealing with the Buy Now Pay Later form of financing and learn more on how to get help with a BNPL loan.
It is possible to refinance a credit card account to save money. There are many ways to do this, ranging from loans to using a different lender, hardship programs, closing an account, and more. Find different ways how to refinance credit cards.
Debt consolidation loans will help you reduce interest rates, extend payments terms or pay off any other loans as well. It is possible to consolidate credit cards, car title or auto loans, buy now pay later or payday loans, medical bills and more The individual will take out a new unsecured loan, at a lower interest rate, and use that money to pay off other accounts. Read more on debt consolidation loans.
- Medical costs can be consolidated as well. Get help from assistance programs that are offered by directly hospitals, doctors, and even some dentists. A health care provider will want to find some type of solution for the patient, as if they do not work with them it will lead to bad public relations among other things. Learn more on how to eliminate medical debt.
- Find ways to consolidate credit card debts on your own and understand the process. There are a number of assistance programs that help people who have high balances on credit cards consolidate all that money. Many of the steps to take are DIY approached, will some involve using credit counseling or charitable programs. Learn more on how to consolidate credit card debt.
- Compare debt settlement vs. debt consolidation programs as they have differences between the two. One or the other may be a better option for you and your family, and it depends on your personal financial situation. Get information about the pros and cons of these two assistance programs. Find tips and get help understand the process - learn more on how to compare debt settlement and consolidation.
 The Consumer Financial Protection Bureau (CFPB) also provides free information to consumers. A wide variety of tools are on the site, ranging from details of debt relief programs, investing, paying off student loans and more with details here. https://www.consumerfinance.gov/consumer-tools/.
Pay more than the minimum balance on your accounts. This is arguably one of the best ways to reduce your credit card debts or any loan you own over a reasonable period of time, as the principal needs to be paid down ASAP. It works for credit cards, medical bills, car loans, and really anything. You need to start with your paying down your higher interest rate commitments first. Find the benefits of making more than minimum payments.
Negotiate credit card debt as well as outstanding loans. While it is possible to contact a credit card card company and negotiate yourself, unfortunately getting the best deal you want or that you may need won't necessarily be easy, if it will be done at all. If you do try to negotiate yourself rather than using a professional counselor, find a do it yourself approach to negotiate in order to get out of debt.
Consolidate with a home equity loan. If your total debt load, including credit card, medical, and other unsecured borrowing seem insurmountable for you to pay off, then you can use a home equity loan to consolidate all those bills. While there are some potentially major risks if you do not do this correctly, the approach is an option. Using the equity in a home will help you eliminate your higher interest, unsecured debt and improve your financial situation if done correctly and read more on using a home equity loan.
Peer to peer lending low interest loans will be helpful in some cases as a form of consolidation. A number of peer to peer lending sites may offer help, such as Prosper and Lending Club. The money will often be used for paying any number of bills. These companies and their services will help you reduce, consolidate and pay off credit cards, automobile loans, medical bills, car title loans and other higher interest rate loans. While they do often have minimum credit scores needed (especially when consolidating debt) They will be an option. More on peer to peer loans.
It is possible to get help from debt collectors. Learn more about your rights, consumer protections and how to stop collection calls. Families being impacted by this will also receive other assistance, whether free legal aid or non-profit counseling. Many government laws and regulations will also help protect you from aggressive collection tactics, including from the Fair Debt Collection Practices Act (FDCPA). Learn more on how to get help from get help in dealing with debt collectors.
It is possible to eliminate debts using bankruptcy. Bankruptcy can discharge many unsecured debts (credit cards, most medical bills, and payday loans). The process has both positives and negatives, and lawyers and free credit counselors can offer advice. Legal firms even give free bankruptcy advice to the low income.
Non-profits that help people reduce credit card or medical debt, car payments and more
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Free advice from credit counseling agencies is available. Several different organizations, all of which are non-profits, operate across the country including The Financial Counseling Association of America (FCAA) (website: https://fcaa.org/). They will help people pay off any loans or debt and arrange other types of charitable assistance programs. The organizations also offer ways to improve credit scores, offer budgeting services, and in general provide information on ways to gain control of your bills. Find a listing of non-profit credit counseling agencies.
- Debt management and relief plans from National Foundation for Credit Counseling agencies (NFCC) are offered in most parts of the country. The programs help with mortgages, loans from banks, credit cards, and much more. These not for profit credit counseling agencies, with the NFCC info here, offer a host of solutions, including debt management plans as well as information on other programs that may aid you. Learn more on National Foundation for Credit Counseling (NFCC) non-profit services.
Military members can get free credit and debt counseling. Many services are offered to active service members (or veterans and their families) as part of the Military OneSource Program. The federal government created this debt help program in partnership with non-profits such as the National Foundation for Credit Counseling. Clients will have a number of financial issues addressed, including excessive credit card or medical debts, sign up for budgeting workshops, credit repair and more. Read details on the Military OneSource credit and debt counseling program,
There are several steps you can take yourself to repair your credit scores, even if you have terrible FICO scores. Having a higher credit rating will lower the amount of interest you need to pay on your existing. A better, or even higher credit score also allows you to get approved to borrow money and improves the ability to take out more loans, such as an auto or mortgage. A better credit score will even help you land a job. Learn more how to repair credit scores.
Help with payday or car title loans
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There are a number of car loan assistance programs as well. Charities and even some government grant programs can help people that need transportation for work, an interview or job training. Or non-profit credit counselors offer assistance, there war ways to refinance a car or truck loan, defer payments and more. Find how to get help with a car payment.
- Refinance your car or truck loan. Many people do not know that they can refinance their existing car loan, into a more manageable payment, for free. Most banks and lenders, as well as auto dealerships, allow borrowers to refinance (if qualified) to get a lower interest rate on their car loan. It works even on truck or RV loans. It is free to submit an application for this service. Learn how to refinance an existing car loan.
- There are assistance programs for car owners that have poor credit scores. Programs will help them make a payment on an existing loan, car note or debt obligation. Or if someone has bad credit (or no credit history at all) and they are in the market to purchase an automobile, then assistance is available with that as well. Find a list of programs that help people with poor credit either buy a car or make a payment.
Salary advance or payday loans will be often difficult for borrowers to pay off due to their high interest rates and associated fees, including pre-payment or late costs. Some lenders also try to make the process more difficult as well. Find ways both eliminate or consolidate payday loans.
- Borrowers also have protections from predatory lenders. Much of these is legal in nature. Many states and the federal government have created laws and rules that payday lenders need to follow. The regulations will cap interest rates, limit the number of times funds will be issued, and offer additional assistance. Read more on the payday laws in your state.
Low-income families can get assistance with car title loans. Many of the lenders that offer this type of debt to consumers are payday type loan organizations or high priced lenders. It can be a challenge for a struggling family, veteran or someone else to pay these off due to the fees, the “monthly debt cycle” and high interest rates. Find help to get rid of a car title loan.
Summary of debt relief programs
There are many solutions out there for households that are struggling to keep up. As listed above, there are debt assistance programs from banks, non-profit organizations, charities, and even emergency relief from the government. In fact, if you want to read about other people's experiences when it comes to getting debt help, or if you want to post questions, we have a forum of real life expenses. Read about debt payment assistance programs in our discussion forum where people share their own experiences and financial tips.
Whether it is a loan, a credit card company, or some other lender, they all try to offer some form of debt relief program to their customers as it benefits both the lender and the borrower. It is also important for families to know the difference between bad and good debt, so when someone should borrow money or not. The fact is that families, no matter their income, need all the assistance they will get in order to become debt free and pay outstanding bills.
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