Of the 35,905 people in Hilton Head Island, 3,010 can hardly afford their minimum credit card payments. Does that sound like you? Debt consolidation in South Carolina could be the solution.
For your free debt estimate, you can just complete our simple web form. Debt Consolidation SC can match you to a debt consolidation agency in Hilton Head Island, SC, based upon such factors as:
- How Much Debt You’ve Got.
- Where You Live.
Nearly every South Carolina resident has a credit card today, and many of them don’t pay off their monthly balance. Luckily, there are solutions available. When it comes to debt consolidation, Hilton Head Island consumers typically elect to consolidate their unsecured debts under a debt management plan.
Debt management plans allow you to pay back everything you owe with just one monthly payment, as well as decreased interest rates, payments, and fees. More often than not your creditors begin supplying these benefits after you send them three consecutive payments. Additionally, these programs are typically quite inexpensive, only $25-35 each and every month.
As you probably know, debt consolidation often involves obtaining a loan to pay back your credit card accounts.
Rather than mailing payments to a multitude of creditors every month, you’ll simply have your monthly debt consolidation loan payment.
If you have unfavorable credit ratings, this may not be the right solution, since a good credit rating is necessary to get one of these loans at rates of interest that are sufficiently low. Chat with a debt consolidation expert in Hilton Head Island, SC, to check which debt relief strategy will be best for you.
|Question||Debt Management||Home Equity Loan|
|One Payment Per Month?||Yes||Yes|
|Good Credit Required?||No||Yes|
|Damaging to Credit Ratings?||No||No|
|Debt Collectors Quit Contacting You?||Often||Yes|
|Valuable Asset Required?||No||Yes|
|Risk of Foreclosure?||No||Yes|
|Time Required?||3-6 Years||10-15 Years|
|Preferable to Bankruptcy?||Yes||Yes|
To determine which option would be right for you, we suggest you request a debt analysis – it’s free!
Debt Settlement vs Debt Consolidation: Hilton Head Island, SC
Debt consolidation and settlement are different strategies for getting free from debt. Debt settlement leads to a percentage of your debt actually being forgiven.
Here we have a table to help you decide which strategy is best for you.
|Questions||Debt Consolidation||Debt Settlement|
|One Monthly Payment?||Yes||Yes|
|Overall Debt Reduced?||No||Yes|
|Reduced Interest Levels?||Yes||No|
|Helps with Past Due Loans?||No||Yes|
|Negative Impact on Credit Ratings?||No||Yes|
|Collection Agencies Required to Stop Contacting You?||No||No|
|Valuable Asset Needed?||No||No|
|Suitable for Hospital Bills?||Yes||Yes|
|Suitable for Communal Property Debt?||No||No|
|Works for Cash Advance Loans?||Yes||Yes|
|Suited to Business-Related Debts?||Yes||Yes|
|Works for Minor Debts?||Yes||Yes|
|Can Companies Sue You?||Yes||Yes|
|Better Than Bankruptcy?||Yes||Yes|
|One Time Payment Needed?||No||Yes|
To figure out which alternative fits your needs, it’s worthwhile to request an assessment of your current debt.
Debt Evaluations: Hilton Head Island, SC
Preferably, no more than 36% of the income you earn per month should be allotted to paying down what you owe. This encompasses both unsecured and secured debt:
- Credit Cards
- Vehicle, Student, and Payday Loans
- Rent or Home Loans
If you make $2,038 every month, about average average in Hilton Head Island, then, in a perfect world, you would spend around $754 monthly. Of course, many Hilton Head Island residents are carrying severe debt, defined by debt-to-income ratios (DTI) of 50% or more. They’re shelling out more than $1,039 monthly!
Are you carrying at least $10,000 in debt? If so, you need to speak with a debt consolidation expert in your area.
Searching for a Debt Consolidation Agency in Hilton Head Island, SC
Unfortunately, our industry has over the years been beset by fly-by-night businesses. However, we help you decide which debt consolidation services in Hilton Head Island are reputable.
As per the FTC, any Hilton Head Island SC debt consolidation consultant has to:
- Clarify their fee scheme.
- Tell you how long it will be until they contact each credit card company.
- Explain how much you will need to save before they’re going to call each creditor.
- Make clear the risk for your credit scores.
Finding a firm from the phonebook is treacherous. You should check with friends who have experience with agencies you’re considering. Alternatively, you can have us find you a debt consolidation company in Hilton Head Island through our easy web form.
Consolidation Companies: Hilton Head Island (SC)
- Consumer Credit Counseling Service, 4 Northridge Dr, 29926
- Wright, Ellen CPA – Cnc Resolution LLC, , 29905
Debt Collection Agencies: Hilton Head Island (SC)
- None Listed.