At MA Debt Consolidation, we match people in Townsend, MA, with debt consolidation pros who enable them to:
- Decrease their monthly payments
- Decrease or lock up their rate of interest
- Lower creditor calls
Debt consolidation may mean one of two different strategies of consolidating debt: debt management plans (DMP) and debt consolidation loans.
Let us connect you with a reputable Townsend debt consolidation company.
Practically every Massachusetts resident has a visa or mastercard these days, and the majority of them don’t pay down their balance each month. On the plus side, you have options.
The leading type of debt consolidation in Townsend, MA, involves working with a firm to manage debt through a debt management plan.
A debt management plan provides lots of advantages:
- One Single Payment
- Reduced Annual Percentage Rates
- Waived Penalties
Furthermore, these types of plans are typically pretty inexpensive. Enrollment ought to cost no more than $70, and the bill every month will be $25-40.
Townsend (MA) Debt Consolidation Loans
The funds borrowed under a debt consolidation loan are used to repay your credit card balances with a more advantageous rate of interest.
The plethora of payments you were making to different creditors will be superceded by one payment amount – your Townsend debt consolidation loan’s payment.
Many people try and repay what they owe using a home equity loan, seeing as there are tax advantages to this approach. Having said that, since this type of loan is secured against your house, the bank or bank could get your home if you are past due on your payments.
Speak to a debt consolidation professional to find out which debt consolidation option will be best for you.
Comparing Debt Consolidation Loans and Debt Management in Townsend
|Questions||Debt Management||Home Equity Loan|
|One Payment Per Month?||Yes||Yes|
|Good Credit Required?||No||Yes|
|Outstanding Balances Reduced?||No||No|
|Reduced Interest Rates?||Yes||Yes|
|Adverse Effect on Credit Scores?||No||No|
|Debt Collectors Stop Contacting You?||Hopefully||Yes|
|Valuable Asset Necessary?||No||Yes|
|Risk of Foreclosure?||No||Yes|
|Time Required?||3-6 Years||10-15 Years|
|Preferable to Bankruptcy?||Yes||Yes|
To figure out which approach suits you best, make sure you request a review of of your current debt – it’s free!
Debt Settlement vs Debt Consolidation: Townsend (MA)
A good number of folks think that debt settlement and consolidation are exactly the same thing, but that is not how it is. Debt settlement is an intense series of discussions that leads to an actual elimination of part of the debt. Sadly, debt settlement has a very negative impact on your credit score, and you have to pay taxes on forgiven debts. Therefore debt settlement should be talked over with a professional before any decision is made.
To figure out which solution would meet your needs, we recommend you request a review of of your present debt – it’s free!
Assessing Your Debt Load: Townsend, MA
Here is the ideal debt load for a typical Townsend resident:
|Annual Income||Per-Month Income||Recommended Debt Load||Problematic Debt Load|
There are 9,198 residents of Townsend, and 771 can only afford to make their monthly minimums. No need to panic.
Credit Card Consolidation Policies
In accordance with FTC regulations, your Townsend MA debt consolidation organization has to:
- Clarify their fee scheme.
- Say how long it will be until they get hold of each lender.
- Let you know how much you need to have saved before they’ll reach out to every lender.
- Fully describe how your credit ratings may be impacted.
Please don’t register for a debt consolidation program in Townsend that has a bad track record. For more info, review the FTC articles in our links section.
- Massachusetts debt consolidation company? Contact us!
Debt Collections Agencies: Townsend (MA)
Even with FDCPA restrictions, countless debt collectors engage in predatory tactics. If you need to submit a complaint against a collection agency, you can do so here: FTC Complaint Assistant.
- None Listed.