If you are struggling to repay multiple loans with high interest rates, debt consolidation is a possible option. Our partners at ConsumerAffairs researched the best debt consolidation in Indianapolis based on trustworthy companies that have the best reviews.
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Indiana is one of seven states where an individual’s average debt is over $100,000. The national average is about $63,000. This includes loans, mortgages and medical bills—the biggest sources of debt for most people. In Indianapolis, the average debt per person was $49,000.
So how can a Hoosier get out of debt, especially when the average in the state is so high?
A debt consolidation loan is an option when your debt is not more than 50 percent of your income and you can make monthly payments on that debt. For people with manageable debt and a good credit rating, it’s possible to combine multiple loans, and then pay on a single balance at a lower interest rate.
Debt consolidation is a way to combine your unsecured debts into one simple payment instead of making multiple monthly payments to different creditors on different dates. Consolidating your debt can be a way to repay your loans and avoid bankruptcy, which is the absolute last resort.
Beware, like any financial service, it is important to do research and make sure you are working with a reputable company that will help you and not do more harm. Use our list of the best debt consolidation and settlement companies in Indianapolis to find a solution that’s right for you.
National Debt Relief is a trusted name in credit card debt settlement. With a source of income, you can quickly qualify and pay no upfront fees until your debt is settled. National Debt Relief can reduce debt up to 49 percent through transparent, helpful customer service, which earns them excellent reviews
For debt relief solutions, CreditAssociates works to settle debt in 24 to 36 months. Good credit is not required and customers get a free, no obligation consultation by speaking to trained advisors who are experts in negotiating down debt. Customer reviews speak highly of agents for being professional, helpful and communicative.
At CountryWide Debt Relief, approval of a debt consolidation option is guaranteed and you can see what you qualify for in a matter of minutes. A variety of plans try to get customers debt-free in just a year or two. Case studies on their website show how debt consolidation plans have worked for others.
The goal of Freedom Debt Relief is to resolve your debt for much less than you owe, as quickly as possible. The process starts with a personal phone call with a certified debt consultant who reviews your options, then can set up a customized plan with payments you are comfortable with. Clients can then view their progress 24/7 through the online dashboard.
Accredited Debt Relief uses proven negotiators to work with top debt relief companies across the country, helping customers settle their debts for less than what they owe. The company is an accredited member of the American Fair Credit Council and gives back to community charities monthly. Customers often give Accredited Debt Relief five star reviews, noting their professional, personalized service.
With certified debt counselors to guide your debt settlement every step of the way, Pacific Debt charges no upfront fees until you get results. The company has helped settle more than $200 million in debt for clients. Reviews speak highly of having access to a personal account manager who can help set up an affordable payment plan.
Debt Rx is an experienced debt settlement company. They work with people having $7,500 or more in credit card debt. The company prides itself on being smaller than its competitors to better focus on personal service to find individual solutions for debt relief. For those behind on payments, Debt Rx may be the right prescription to ease the pain of being in debt.
MyStar Credit Counseling
MyStar Credit Counseling is located on the northwest side of Indy. They provide personalized plans based on the information you provide. With services that cover all types of debt, MyStar Credit Counseling is a local business that addresses credit card, auto and medical debts.
Royal United Mortgage
In addition to home equity loans, Royal United Mortgage offers debt consolidation services. It’s a national company based in Indianapolis, so you can go to a physical building and get personalized advice. If you are looking for a home loan (or to combine your mortgage lender with your consolidation company), Royal United Mortgage is your solution.
Our partners independently research and analyze the companies mentioned in our guides and work with subject matter experts to add valuable information that helps consumers make smart purchase decisions. Our partners will not include companies on these guides that do not meet specific quality standards. The compensation we receive from our partners may impact how and where companies appear on our site, including the order in which they appear.
Our partners independently research companies, and use editorial discretion to award companies with special recognition (i.e. Best Value) based on their staff’s judgement or subject matter expert’s judgement. Our partners do this to help you identify companies that will meet your specific buying needs, and do not receive compensation for these designations.