You aren’t the only person fighting to get rid of credit card debt. In fact, we estimate that 5,100 of Lexington’s 60,846 consumers are looking for help with debt. Debt consolidation in South Carolina might be the answer.
There are a few different types of debt consolidation programs: some with loans, some without. Either way, you’ll need a stable income source.
Why not let us put you in touch with a trusted Lexington debt consolidation consultant.
Credit Card Debt Consolidation: Lexington (SC)
Pretty much every South Carolina resident has a visa or mastercard today, and the majority of them don’t pay down their monthly balance. Thankfully, there are solutions. Lexington consumers often opt to combine their unsecured debts within a debt management plan. A debt management plan has several benefits:
- Lower Payment
- Cheaper Interest Rates
- Waived Penalty Fees
What’s more, these types of plans are typically quite inexpensive:
- Registration: no more than $75
- Fee Every Month: $30-35
Debt consolidation loans are used to repay your credit card accounts and other debts at a considerably better rate of interest.
The advantages of debt consolidation loans in Lexington, SC, mirror those of debt management programs:
- A Lot Fewer Debt Collector Calls
- Lesser Rates
- Combined Costs
Since your earlier credit balances will be repaid, your credit scores will not be negatively impacted.
Of all the available debt relief solutions, a debt consolidation loan will have the most positive effect on your credit rating, but these kinds of loans can be high-risk. You’re swapping one sort of debt for another. If the loan is backed by your home, remember what will happen if you can longer make your payments. Is a debt consolidation loan a good idea?
Evaluating Your Debt: Lexington, SC
In a perfect world, your monthly debts will comprise approximately a third of your income. This encompasses ones that are secured and unsecured:
- Credit Cards
- All Loans
- Home Loan Payments
For instance, if you earn $2,924 a month, the average for someone who lives in Lexington, then, in a perfect world, you would spend less than $1,053 a month. Having said that, many Lexington residents have severe debt, recognized by a debt to income ratio (DTI) of more than 50%. They’re spending more than $1,462 monthly!
Have you got more than $10,000 in credit debt? Then you really should speak to a debt consolidation specialist in your area.
Choosing a Debt Consolidation Business in Lexington, SC
Regrettably, the debt relief sector has in the past been beset by sketchy businesses. However, we help you figure out which Lexington debt consolidation firms are the real deal.
In keeping with FTC regulations, any Lexington, SC debt consolidation firm is required to tell you:
- Registration and fees each month.
- How long until they get a hold of each lender.
- How much must be saved before they will make contact with each creditor.
- How your credit rankings will be impacted.
It is too risky to select a provider arbitrarily. You ought to talk with friends who have been clients of specific companies, or request a debt consultation – it’s free.
- Clean Credit Usa Inc, 4436 Augusta Rd, 29073
- Reed, Eric, 220 Stoneridge Dr, 29072
- Resource Services, 100 Harmon St, #201, 29072
Debt Collectors: Lexington (SC)
- Accounts Receivable Collections, Inc., 105 Tarrar Springs Rd Ste 100, 29072-3882
- BLG Collection Services, LLC, 140 Gibson Rd Ste B, 29072-3429