If you find yourself curious about East Longmeadow debt consolidation agencies, we can assist you.
To get in touch with a debt consolidation consultant, just submit this easy form. The process is fast, simple, and totally free.
Credit Card Debt Consolidation in East Longmeadow, MA
The extremely high interest rates that come with credit card accounts can lead to significant debt. Fortunately, there are solutions.
There are close to 1,185 people in East Longmeadow who could use debt consolidation, and most of them would be best served by a debt management plan. Debt management plans, often associated with one of the credit counseling firms in East Longmeadow, MA, enable you to repay everything you owe through one easy payment per month, not to mention more affordable interest rates, monthly payments, and penalty fees. In most cases your creditors start supplying these benefits because it will cost them more money if you default. If you’re looking for a credit card consolidation program in East Longmeadow, MA, this is among the most affordable solutions, just $25-40 every month.
The logic behind your East Longmeadow debt consolidation loan is straightforward: loans from a traditional bank usually carry more affordable annual percentage rates than credit cards. Instead of posting payments to a variety of credit card providers on a monthly basis, you will only have your monthly debt consolidation loan payment. As opposed to other East Longmeadow debt consolidation programs, these types of loans don’t include any of the budget-related coaching you’d get from debt management in East Longmeadow, MA. Is a debt consolidation loan right for you?
Comparison of Debt Consolidation Loans and Debt Management in East Longmeadow
|Question||Debt Management||Home Equity Loan|
|One Payment Per Month?||Yes||Yes|
|Good Credit Required?||No||Yes|
|Harmful Effect on Credit Ratings?||No||No|
|Debt Collectors Quit Contacting You?||Often||Yes|
|Must Have Collateral?||No||Yes|
|Time Required?||3-6 Years||10-15 Years|
|Preferable to Bankruptcy?||Yes||Yes|
To find out which solution would suit you best, you should request a review of of your existing debt.
Analyzing Your Debt: East Longmeadow, MA
Debt consolidation companies in East Longmeadow, MA will want to learn how much debt you have that’s no secured, meaning it is not leveraged by an asset of some sort. The most commonly seen causes of debt are credit cards, payday loans, rent or mortgage payments, hospital bills, and store cards. In a perfect world, no more than 33% of the income you earn per month will be devoted to paying off debt. This consists of both secured and unsecured debts:
- Credit Cards
- Vehicle, College, and Payday Loans
- Home Loans
Why don’t we look at what this means for the typical individual in East Longmeadow, MA:
- Yearly Income: $31,417
- Monthly Income: $2,618
- Ideal Debt Load: $942
- Severe Debt Load: $1,309
If your ratio of debt to income is over 50%, you should speak to a debt consolidation specialist near you.
The Federal Trade Commission sets forth strict policies that govern how these businesses ply their trade. In keeping with the FTC, your East Longmeadow debt consolidation company has to provide you with the following information before you sign up for their program:
- Signup and fees each month.
- How long until they get a hold of each credit card company.
- The amount that must be saved before they’ll contact each creditor.
- How their program will affect your credit rating.
It is treacherous for you to decide on your service at random. It’s best to chat with friends or associates who have knowledge of certain businesses. Alternately, you can request a debt review – it’s free.
- Money Management Associates, 44 Harkness Ave, 01028
Debt Collectors: East Longmeadow (MA)
Are you getting telephone calls from collection agencies on a regular basis? More often than not, collector calls will be reduced after you register for a Massachusetts debt consolidation program.
- None Listed.