We connect residents of Lexington, MA, with debt consolidation advisors who enable them to:
- Decrease their monthly payments
- Bring down or freeze their interest rate
- Lower collection agency calls
If you work with a debt consolidation consultant, you should pay back your debt in full, but you will only have one payment on a monthly basis. Let’s place you with a good Lexington debt consolidation firm.
Debt Management in Lexington (MA)
Credit cards may be an essential part of one’s financial life, but they all too frequently bring about massive amounts of debt. We can help.
The most common type of debt consolidation in Lexington, MA, entails managing debt through a credit card consolidation program.
Debt management plans enable you to pay off all the money you owe with one easy monthly payment. The benefits are significant: lower interest levels, installment payments, and penalty fees. As a rule your creditor starts supplying these benefits after you send them three successive repayments. Furthermore, these types of plans are typically pretty cost-effective. Sign up ought to cost around $70, and fees each month $25-40.
Debt Consolidation Loans in Lexington (MA)
Debt consolidation loans are available in two varieties: unsecured bank loans and loans secured by a home or other property, of which the second option is most popular.
Generally, a debt consolidation loan will lead to more affordable monthly bills and a fewer number of calls from debt collectors. Since of course, your previous debts will be repaid.
When you have bad credit, finding a debt consolidation loan in Lexington will be an obstacle. When you need to start the journey to becoming debt-free, you really need to contact one of our debt professionals.
Lexington Debt Management vs Consolidation Loans
|Questions||Debt Management||Home Equity Loan|
|One Payment Amount?||Yes||Yes|
|Good Credit Required?||No||Yes|
|Outstanding Balances Reduced?||No||No|
|Damaging Influence on Credit Report?||No||No|
|Debt Collectors Quit Calling You?||Hopefully||Yes|
|Valuable Asset Necessary?||No||Yes|
|Time Required?||3-6 Years||10-15 Years|
To find out which alternative meets your needs, make sure you request a review of of your current debt.
Debt Analysis: Lexington, MA
In an ideal world, the amount of debt you owe monthly should comprise roughly one third of your income. This means both unsecured and secured debts:
- Credit Cards
- Car, Student, and Payday Loans
- Rent or Mortgage Payments
If you make $8,053 monthly, about average average for Lexington residents, then, preferably, you would spend no more than $2,980 monthly. Lamentably, many Lexington residents are in severe debt, with debt-to-income ratios of 50% or higher. That means they are forking over more than $4,027 every month!
Do you owe at least $10,000 in debt? Then you need to get in touch with a debt consolidation consultant in Lexington, MA.
- A & Z Credit Restoration, 120 School St, 02421
Debt Collectors: Lexington (MA)
- None Listed.