If you find yourself considering Friendswood debt consolidation assistance, you have to come to the right place.
Consolidation may be used to describe a couple of different debt relief programs:
- Consolidating your debt into a DMP (Debt Management Plan).
- Consolidating debt with a new loan.
Want to get out of credit card debt? Locate a debt consolidation company in Friendswood, TX. Today!
Debt Management Plans: Friendswood (TX)
Of the 3,262 people in Friendswood who could use some form of debt relief, most would benefit from a debt management plan more than anything else. A DMP offers several advantages:
- Lower Monthly Payment
- Cheaper Interest Rates
- Reduced Late Fees
Also, debt management plans are one of the most inexpensive ways of consolidating credit and payday loan debt in Friendswood, TX:
- Registration: $70 or less
- Monthly Fee: $20 to 35
Friendswood, TX Debt Consolidation Loans
Should you decide to get a debt consolidation loan in Friendswood, TX, the funds are used to repay your existing credit lines. You still have to pay off the loan, of course, but the APR may be more beneficial. Normally, a debt consolidation loan will result in lower payments and fewer calls from collections companies, as your previous debts will have been repaid.
Of all the debt relief solutions, a debt consolidation loan has the best impact on your credit rating, but these kinds of loans can be high-risk. You will be trading one kind of debt for another. If the loan is backed by the value of your loan, don’t forget what will happen if you can longer make your payments. Is a debt consolidation loan right for you?
Attempting to consolidate payday loans in Friendswood, TX, is now almost as common as consolidating credit card bills. The statistics are astonishing:
- 2,024 people in Friendswood secure one or more payday loans each year.
- 1,538 [city residents] obtain two or more payday loans per annum.
- 890 Friendswood residents are delinquent on their payday loan.
That means nearly 1 in every 2 payday loan customers can’t repay their loans!
Are you past due on one or more payday advances? That’s okay, we work with a payday loan consolidation agency in Friendswood, TX, that will help you:
- Consolidate various payday loans.
- Decrease exorbitant cash advance APR.
- Create a budget for payment.
- Field collector telephone calls.
Hoping to free yourself from payday loan debt?
The table below suggests the optimal debt load for an average Friendswood resident:
|Yearly Income||Income Per Month||Optimal Monthly Debt||Excessive Debt Load|
If your ratio of debt to income is higher than 50%, you need to consult a debt consolidation expert in your area.
Debt Consolidation Policies
As per the FTC, any Friendswood TX debt consolidation firm has to:
- Explain how their fees work.
- Say how long their program takes.
- Inform you of how much you’ll have to save before they will contact each credit card company.
- Explain any and all risk for your credit score.
Don’t forget to investigate your Friendswood payday loan debt consolidation company before joining.
Debt Consolidation Firms: Friendswood, TX
- Consumer Credit Counseling, , 77518