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Debt refinancing replaces a debt you already have with a new one that has better terms — usually a lower interest rate, a different payoff timeline or both. It can be a smart way to save money if you have a robust credit score and payments you can comfortably afford.
But refinancing is built around your credit, so it isn't the right fit for everyone. If your minimum payments have already become unaffordable, a debt relief program may be the more accessible option, as it's built around what you can afford each month — not your credit score. Accredited Debt Relief evaluates people in all 50 states for debt relief or consolidation loan options, with a minimum of $5,000 in unsecured debt to enroll. Our debt relief program rolls eligible balances into one lower monthly payment, with no upfront fees and 1:1 support from certified debt specialists.
Get a Free Consultation — no pressure, no obligation, won't affect your credit score.
Debt refinancing means replacing an existing debt with a new one that has better terms. The goal is usually to lower your interest rate, change your monthly payment or shorten your payoff timeline.
For example, you might replace a high-rate credit card balance with a new card that has a lower introductory rate, or pay off a personal loan with a new loan that costs less over time. Refinancing can also bundle several debts into one, which is where it overlaps with debt consolidation.
But here's the problem: Most refinancing options depend on your credit score. Approval for new, better terms — like a lower interest rate — often require a strong credit score, so a lower score can make refinancing harder to access (or more expensive).
These terms get used interchangeably, but they describe slightly different things.
Put simply: all consolidation is a form of simplifying what you owe into one payment, and refinancing is one tool that can help you do it. Accredited Debt Relief connects eligible people to debt relief or consolidation loan options, so you can find the approach that fits your situation.
If your balances keep climbing, it's probably not your spending habits — it's your interest rate. Depending on the borrowing terms, even modest balances can spiral out of control, thanks to high interest rates. And recent data shows how costly carrying debt has become:
Interest is part of what makes balances so hard to clear — if you can't afford to pay down your balance, you end up stuck in spiraling debt. So if even your minimum payments have become hard to manage, talk to us — our debt relief program targets your balance, not your interest rate.
| Balance Transfer Card | Debt Consolidation Loan | Debt Relief Program | |
|---|---|---|---|
| How it works | Move balances onto a new card with a low intro rate | New loan pays off existing debts; you repay over time | Eligible balances are rolled into one lower monthly payment |
| Credit check required? | Yes — approval and rate depend on your credit | Yes — approval and rate depend on your credit | No — checking your options doesn't affect your credit |
| Reduces what you owe? | No — you still owe the full balance | No — you owe the full loan amount plus interest | Yes — your total debt owed is reduced |
| Typical timeline | Length of the card's intro period | 4 to 84 months, depending on the loan | 24 to 48 months |
| Best for | People with good credit who can pay it off before interest sets back in | People with strong credit who can afford the new payment | People whose minimum payments are already unaffordable |
Refinancing is a useful tool in the right situation. It also has trade-offs worth understanding before you commit.
The common thread: refinancing rewards strong credit. If your credit or budget makes refinancing hard to reach, you still have an option built for exactly that situation.
If your minimum payments are already unaffordable, you're behind on payments or your credit makes refinancing hard to access, you may be past the point where refinancing helps. That's where a debt relief program comes in.
A debt relief program is built around what you can afford each month, so it doesn't hinge on your credit score, and checking your options doesn't affect your credit. By bundling your eligible debts, our debt relief program can save you 40% or more on eligible monthly payments. And because our program targets your total balance, not your interest rate, you stand to save in the big picture, too.
For many people with significant unsecured debt, this is the most accessible and affordable option.
Getting started takes four simple steps and begins with a free consultation.
1. Free Consultation — You'll speak with a certified debt specialist who reviews your debt, income and monthly obligations. This won't affect your credit score.
2. Personalized Program — Your specialist builds a customized program around what you can actually afford each month, with a target graduation date.
3. One Monthly Deposit — Instead of juggling multiple payments, you make a single deposit into a dedicated account.
4. Debt-Free in 24 to 48 Months — Because the program targets your balance, not your interest rate, you can get free from debt faster and for less.
The program is best for people with significant unsecured debts, like credit card, personal loan and medical debts.
The minimum amount of debt required to enroll in the program is $5,000, and Accredited Debt Relief can evaluate people in all 50 states.
Founded in 2011, Accredited Debt Relief has helped people work toward becoming debt-free with award-winning customer care at the center of the experience. The company has helped more than 1.3 million clients and resolved more than $15 billion in debt, backed by an A+ rating with the Better Business Bureau. CBS News MoneyWatch named Accredited Debt Relief best for customer satisfaction among debt relief providers in 2026, pointing to its A+ BBB rating and high Trustpilot score.
Our organization has been recognized multiple times over the years for exceptional client support, recently earning two 2026 Gold Stevie Awards, including Customer Service Department of the Year for the second straight year, plus Best in Biz honors, Business Intelligence Group recognition and three ConsumerAffairs Buyer's Choice Awards. Our clients also have access to financial wellness tools, group financial therapy sessions with Certified Financial Therapists and a private online community. Accredited Debt Relief holds a 4.8-star rating on Trustpilot from more than 10,000 client reviews.
Every specialist is certified through the International Association of Professional Debt Arbitrators, and all staff benefit from guidance by AFC-certified trainers. We're also proud to be a member of the Association for Consumer Debt Relief (ACDR).
But what means most to us is that our clients leave in a better place than when they enrolled: In a survey of more than 2,000 Accredited Debt Relief graduates who completed the program in 2025, more than 92% said their program payments were affordable. Graduates also reported a 42% average improvement in their financial habits, with self-rated habits climbing from 5.7 to 8.1 out of 10 after graduation.
The right path depends on the type of debt you have, the strength of your credit, your income and how urgently you need to resolve it. If you have strong credit and an affordable budget, refinancing or a consolidation loan may save you money. If your minimum payments are already unaffordable, a debt relief program may be the more accessible fit. During your free consultation, an Accredited Debt Relief certified debt specialist will review your debt, income and monthly obligations and provide a personalized savings estimate. The consultation is free, no-judgment and won't affect your credit score.
The questions people ask most often about debt refinancing — answered directly and without jargon.
What Is Debt Refinancing?
Debt refinancing replaces an existing debt with a new one that has better terms, usually a lower interest rate or a different payoff timeline. It can save you money if you have strong credit and an affordable budget. Because approval and your rate depend on your credit, refinancing isn't always accessible — and a debt relief program may be a better fit for people whose minimum payments are already unaffordable.
Is Refinancing the Same as Debt Consolidation?
Not exactly. Refinancing optimizes a single debt by replacing it with better terms, while debt consolidation combines multiple debts into one. Debt consolidation is the umbrella term, and it includes debt relief programs and debt consolidation loans. Accredited Debt Relief can evaluate clients for debt relief or consolidation loan options.
What Credit Score Do I Need to Refinance?
There's no single cutoff, but balance transfer cards, consolidation loans and cash-out refinances all base approval and your rate on your credit, so stronger credit generally means better terms. A debt relief program isn't based on a minimum credit score. Its main requirement is having at least $5,000 in eligible unsecured debt, such as credit card, personal loan and medical debt.
Can I Refinance Debt With Bad Credit?
It can be harder, because most refinancing depends on your credit. If a low score limits your options, a debt relief program may be the more accessible path, since it's built around what you can afford each month rather than your credit score. Accredited Debt Relief evaluates people in all 50 states for debt relief or consolidation loan options.
How Long Does a Debt Relief Program Take?
Programs typically run 24 to 48 months. Because the program targets your balance, not your interest rate, eligible people can become debt-free in as little as 24 to 48 months.
Which Debts Are Eligible for the Program?
Eligible debts include credit cards, personal loans, medical bills, store credit cards and some private student loans. Mortgages, home equity loans, auto loans, federal student loans, tax debt and any secured debt aren't eligible.
Is Accredited Debt Relief Legitimate?
Accredited Debt Relief has been operating since 2011, holds an A+ rating from the Better Business Bureau and has helped more than 1.3 million clients. CBS News MoneyWatch named it best for customer satisfaction among debt relief providers in 2026. Its specialists are IAPDA-certified, the company is a member of the Association for Consumer Debt Relief, and staff benefit from guidance by Association for Financial Counseling (AFC)-certified trainers.
A free consultation with a certified debt specialist won't affect your credit score and will show you exactly what you'd save with the option that fits you best. No pressure, no obligation — just answers. Available in all 50 states.
Get a Free ConsultationOr call 800-497-1965 · accrediteddebtrelief.com/refinancing/
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