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Best Debt Consolidation in Baltimore, MD

Aug. 15, 2019, 8:17 p.m.

Debt consolidation can help you pay off credit card debt faster. It offers low or zero percent interest payments and allows you to clear your balances in one lump sum. Our partners at ConsumerAffairs researched the best debt consolidation companies in Baltimore to help you choose the right debt relief for your financial situation.

Everyone deserves to make thoughtful, informed purchase decisions. The local guides provided on this website are free for consumers. WMAR may receive compensation from our partners. Learn more.

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#1
MOST POPULAR
National Debt Relief

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VISIT WEBSITE
CALL NATIONAL DEBT RELIEF
(844) 462-9121
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#1 MOST POPULAR
National Debt Relief
National Debt Relief
Features
  • Minimum $10,000 credit card debt required
  • Debt settlement assistance
  • Debt consolidation loan alternative
  • Available in Baltimore
Read More
VISIT WEBSITE
CALL NATIONAL DEBT RELIEF
(844) 462-9121
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#2
CreditAssociates
CreditAssociates
Features
  • Minimum $10,000 credit card debt required
  • Debt settlement services
  • Available in Baltimore
  • Debt consolidation loan alternative
Read More
VISIT WEBSITE
CALL FOR QUOTES
(888) 492-5184
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#3
Freedom Debt Relief
Freedom Debt Relief
Features
  • Debt consolidation loan alternative
  • Minimum $15,000 credit card debt required
  • Available in Baltimore
  • Free, no-risk debt relief consultation
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#4
Accredited Debt Relief
Accredited Debt Relief
Features
  • Debt consolidation loan alternative
  • Minimum $10,000 credit card debt required
  • Available in Baltimore
  • Debt settlement services
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#5
Pacific Debt Relief
Pacific Debt Relief
Features
  • Debt settlement services
  • No credit qualifications
  • Available in Baltimore
  • Must have $10,000 in credit card debt to qualify
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#6
Debt Rx
Debt Rx
Features
  • Minimum $7,500 credit card debt required
  • Available in Baltimore
  • Tailored debt solutions for each customer
  • Services offered in Spanish
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The need for debt consolidation and settlement in Baltimore

Baltimore skyline

The total amount of credit card debt in America increased over five percent in 2017, with more than 41 percent of people carrying a balance every month. On average, Baltimoreans have credit card debt equaling roughly 11 percent of their income, which is about the national average, but higher than the rest of Maryland.

Average credit card debt Average household income Average credit card debt as a percentage of income
Baltimore $6,239 $56,221 11%
Maryland $7,913 $100,071 8%
USA $5,700 $46,550 12%

If you have high-interest credit card debt, especially spread across multiple cards, debt consolidation can help lower your monthly payments and enable you to pay off your debt faster.

What is debt consolidation?

There are two main methods of debt consolidation: debt consolidation loans and low-interest balance-transfer credit cards. You’ll need good credit to qualify for both. A debt consolidation loan is a new loan that is used to pay off your credit card debts in full while you make monthly payments on the new, lower interest loan. A balance transfer credit card allows you to transfer all of your high-interest credit card debt to a low-interest card, which you then have to pay off in full within a specified time limit.

Benefits of debt consolidation

  • If the interest rate on the new debt consolidation loan is lower, you pay less money overall
  • Your credit card debt will be paid off immediately
  • Your credit score won’t be negatively affected as long as you keep your credit card accounts open after you pay down the debt

Drawbacks of debt consolidation

  • You must have good enough credit to qualify for a low- or no-interest credit card or loan
  • Debt consolidation loans and credit cards have to be paid off within a specific time period, so your monthly payments will be higher in the short-term
  • Doesn’t prevent you from getting back into debt in the future

If your total debt is more than 50 percent of your income, or you’re facing potential bankruptcy, you’re unlikely to get approved for debt consolidation. The Federal Trade Commission has information about other options available for people in this predicament.

If you pursue debt consolidation in Baltimore, make sure to read the Maryland regulations for reputable debt management companies so you don’t end up in worse financial shape.

National Debt Relief

National Debt Relief

CALL NATIONAL DEBT RELIEF

(844) 462-9121 VISIT NATIONAL DEBT RELIEF

National Debt Relief offers a range of options for debtors, including debt consolidation, debt settlement and credit counseling. Their website provides information about state laws and statistics in Maryland, and they’re a licensed Debt Management Services (DMS) provider.

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CreditAssociates

CreditAssociates

CALL FOR QUOTES

(888) 492-5184 VISIT CREDITASSOCIATES

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.

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Freedom Debt Relief

Freedom Debt Relief VISIT FREEDOM DEBT RELIEF

Freedom Debt Relief provides debt settlement, primarily designed for people with a large amount of debt that exceeds their monthly budget, although they don’t offer debt consolidation loans. Their blog contains a lot of helpful information.

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Accredited Debt Relief

Accredited Debt Relief VISIT ACCREDITED DEBT RELIEF

Accredited Debt Relief is a debt management service provider with debt consolidation and debt settlement options. They offer free consultations to determine which method would work best for you. Negotiators will work to lower your debts and no fees are charged until your debts are resolved.

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Pacific Debt Relief

Pacific Debt Relief VISIT PACIFIC DEBT RELIEF

Pacific Debt is a debt settlement company that does not offer debt consolidation as one of their options. Though they offer debt counseling, their primary method of debt relief is debt settlement, which is different from debt consolidation.

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Debt Rx

Debt Rx VISIT DEBT RX

Debt Rx works with those having credit card debts of $7,500 or more. This debt settlement company is smaller than competitors to focus on individual service and solutions for debt relief. If you’re behind on bills, Debt Rx could be the right prescription to ease the financial pain of being in debt.

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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.