Just how many folks need help with their debts in Lynn, MA? We have been able to conclude that 7,459 of Lynn’s 88,992 residents need help with debt. Debt consolidation might be the answer.
To begin, just call us or complete our contact form. Debt Consolidation Massachusetts can connect you to a debt consolidation company based on how much debt you’re carrying, your location, and other variables.
Credit cards may be an essential part of one’s finances. However they all too frequently lead to huge levels of debt. Fortunately, there are solutions.
Most often, debt consolidation in Lynn, MA, involves the management of debt through a credit card consolidation program. These programs will allow you to pay everything you owe with a single payment per month. The advantages are tremendous: less expensive interest levels, installments, and penalty fees. More often than not your creditor begins supplying these benefits as a way to encourage you to repay your debt.
Furthermore, these types of plans are usually pretty very affordable:
- Sign up: $75 or less
- Fee Every Month: $25-50
Debt consolidation loans are used to pay down your credit card accounts and other debts with a lower interest rate.
If you get a debt consolidation loan in Lynn, MA, you should enjoy lower monthly payments and a lot fewer calls from debt collection agencies, simply because your original debts will be paid off.
Good prospects for credit card debt consolidation loans in Lynn MA are homeowners with first-rate credit and considerable earnings, as these are crucial to help you obtain a loan at a cost effective interest rate. Speak to a debt consolidation specialist in Lynn, MA, to learn which solution will be right for you.
Comparing Debt Consolidation Loans and Debt Management in Lynn
|Question||Debt Management||Debt Consolidation Loan|
|Single Payment Amount?||Yes||Yes|
|Good Credit Required?||No||Yes|
|Detrimental Effect on Credit Scores?||No||No|
|Collection Agencies Cease Phoning You?||Hopefully||Yes|
|Must Have a Valuable Asset?||No||Yes|
|Risk of Foreclosure?||No||Yes|
|How Long?||3-6 Years||10-15 Years|
To find out which option would meet your needs, we suggest you check with a qualified debt professional – for free!
Do You Need Credit Card Consolidation?
Any Lynn debt consolidation professional you talk with will want to learn how much debt you owe that is non-secured, which means it’s not guaranteed by a property of some type. The most commonly seen sources of debt are:
- Credit Cards
- Payday Loans
- Rent or Mortgage Payments
- Other Credit Lines
If at all possible, about 36% of the amount you make each month will be devoted to repaying debt. This means ones that are secured and unsecured:
- Credit Card Accounts
- All Loans
- Rent or Home Loans
For instance, say you make $1,738 each month, about average average in Lynn, then, preferably, you would spend around $643 monthly. Having said that, many Lynn residents have considerable debt, indicated by a debt to income ratio (DTI) of 50% or higher. That means they are having to spend more than $886 a month!
If your DTI is over 50%, it is time to speak with a debt consolidation consultant in your area.
- Massachusetts debt consolidation company? Contact us!
Debt Collectors: Lynn, MA
Are you getting calls from collection agencies on daily basis? Often, letters and calls will be lessened after you register for a MA debt consolidation plan.
- Rockaway Recovery & Collection, 140 Union St Ste 210, 01901-1326