Debt Consolidation Massachusetts

Debt Consolidation – Andover (MA)

Debt Consolidation Loans Andover MA

When you’re considering Andover debt consolidation programs, let us give you some direction. No matter what method of debt consolidation you go with, you will pay back all of your debt, but you will only have one monthly payment.

To see which method is best for you, you should check with a skilled Andover debt consolidation specialist.

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Credit Card Debt Consolidation: Andover, MA

Just about every Massachusetts resident has a credit card, and the bulk of them don’t pay down their balance on a monthly basis. On the plus side, there are options. In most cases, Andover residents decide to combine their debts into a debt management plan. This sort of debt consolidation offers a lot of benefits:

  • Single Payment
  • Decreased Interest Rate
  • Forgiven Late Fees

If you’re looking for a debt consolidation agency in Andover, MA, this is one of the cheapest options, just $25-40 monthly.

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Debt Consolidation Loans: Andover (MA)

The funds from a debt consolidation loan are used to pay down your credit lines with a lower interest rate.

As opposed to sending payments to several different collectors on a monthly basis, you will only be responsible for your monthly loan payment.

Unlike other Andover debt consolidation options, these kinds of loans do not give you any of the money management lessons you would get from debt management in Andover, MA.

Consult a debt consolidation specialist in Andover, MA, to find out which debt relief option will be ideal for you.

Andover: Debt Consolidation Loan or Debt Management?

Question Debt Management Consolidation Loan
Single Monthly Payment? Yes Yes
Good Credit Required? No Yes
Interest Levels Decreased? Yes Yes
Adverse Effect on Credit Report? No No
Collection Agencies Cease Calling You? Hopefully Yes
Valuable Asset Required? No Yes
Risk of Foreclosure? No Yes
How Much Time? 3-6 Years 10-15 Years
Preferable to Bankruptcy? Yes Yes

To find out which alternative suits you best, you need to speak with a trained debt specialist.

When to Consolidate Your Debt

Any Andover debt consolidation specialist you speak to will need to learn how much debt you owe that is no secured, which means it’s not backed by a property of some kind. The most typical sources of debt are:

  • Credit Cards
  • Cash Advance Loans
  • Rent
  • Other Revolving Credit Balances

The table below displays the optimal monthly debt for a typical resident of Andover, MA:

Yearly Income Monthly Income Optimal Monthly Debt Severe Debt Load
$17,536 $1,461 $526 $731

If your monthly debt cost is greater than 50%, it is time to get in touch with a debt consolidation professional in Andover, MA.

Debt Consolidation Providers: Andover (MA)

  • Auto Credit Rehabilitation Corporation, 45 Haverhill St, 01810
  • Consumer Credit Counseling, 1060 Osgood, 01718
  • Preferred Financial Services, 300 Brickstone Sq, 01810

Debt Collectors: Andover, MA

Have you been hassled by collection agencies? If you need to file a complaint against a collector, you can do so here:

  • F.H. Cann & Associates, Inc., 16 Haverhill St., Suite 2B, 01810

Debt Consolidation Andover MA