Debt Consolidation Massachusetts

Debt Consolidation – Lowell (MA)

Debt Consolidation Loans Lowell MA

There are 105,167 people living in Lowell, and 8,815 can only afford their minimum monthly payments. Sound familiar? MA debt consolidation may help.

If you work with a debt consolidation service in Lowell, you’ll be able to combine what you owe into a debt management plan, called a DMP. Your advisors will work to reach out to your creditors in an effort to get key benefits, such as:

  • Lower Rates Of Interest
  • Forgiven Fees
  • Lower Payments Per Month

Consolidating debts may also refer to personal loans that substitute your unsecured debt with debt secured by some kind of asset, generally a property. To see which type is right for you, you’ll want to contact a skilled Lowell debt consolidation agent.

Debt Consolidation in Lowell MA

Debt Management: Lowell, MA

Nearly every Massachusetts resident has a visa or mastercard, and many of them don’t pay off their monthly balance. We can help. Of the 8,815 people in Lowell who could use debt relief, most would benefit from a debt management plan above all else. This debt management plan has quite a few advantages:

  • Only One Monthly Payment
  • Lowered Interest Rate
  • Waived Late Fees

If you’re looking for a debt consolidation company in Lowell, MA, this is one of the most inexpensive ways to go.

Lowell MA Debt Consolidation

The basis for any Lowell debt consolidation loan is simple: unsecured bank loans and home equity loans traditionally have less expensive APR’s than what you’re forking over to your credit card issuers.

Rather than sending payments to numerous creditors every month, you’ll simply have your monthly loan payment. When you have unfavorable credit ratings, a debt consolidation loan may not be the right solution, since exceptional credit is needed to receive one of these loans with cheap enough interest rates. Chat with a debt consolidation expert to check which solution will be ideal for you.

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Comparing Debt Consolidation Loans with Debt Management in Lowell

Questions Debt Management Consolidation Loan
Single Payment Per Month? Yes Yes
Good Credit Required? No Yes
Interest Rates Decreased? Yes Yes
Negative Effect on Credit Report? No No
Collection Agencies Quit Calling You? Maybe Yes
Will Need a Valuable Asset? No Yes
Risk of Foreclosure? No Yes
How Long? 3-6 Years 10-15 Years

To find out which solution is right for you, you’ll need to speak to a debt professional.

Debt Consolidation vs Debt Settlement in Lowell, MA

Debt consolidation and settlement are completely different ways to get out of debt. As opposed to debt consolidation, debt settlement results in a percentage of your credit balances essentially being eliminated.

Unfortunately, debt settlement looks really bad on your credit rating. As if that weren’t enough, forgiven debts are taxable. For this reason, debt settlement is typically for people that seriously can’t pay their monthly bills. After all, lenders may allow a reduced settlement as a way to avoid the client declaring bankruptcy. Since of course, this would mean no debt being paid back.

To determine which alternative would meet your needs, you need to request a debt assessment – it’s free!

Calculating Your Debt Load: Lowell, MA

Debt Consolidation Loans Lowell MA

Have you figured out how much unsecured debt you have?

Let’s look at the ideal monthly debt for a typical resident of Lowell, MA:

Yearly Income Income Monthly Recommended Monthly Debt Severe Monthly Debt
$31,289 $2,607 $939 $1,304

Is your debt load in excess of 50%? Then you really should get in touch with a debt consolidation specialist near you.

Debt Consolidation Companies: Lowell, MA

  • A American Credit and Debt Counseling Service, 197 Market St, 01852
  • CCCS (Affiliated With MMI), 40 Central St, 01852

Debt Collectors in Lowell (MA)

  • Stevens Business Service, Inc., 92 Bolt St Ste 1, 01852-5316