At SC Debt Consolidation, we match people in Lugoff, SC, with debt consolidation consultants whose goal is to:
- Reduce their payment amounts
- Minimize their rate of interest
- Minimize collection agency calls
You’ll find several different sorts of debt consolidation strategies: with and without a loan. In both cases, you need to have a consistent source of income. To learn which type fits your needs, speak with a licensed Lugoff debt consolidation advisor.
Credit Card Consolidation in Lugoff (SC)
The sheer number of shoppers with a variety of credit cards and missed payments is astonishing. SC Debt Consolidation can help.
Of the 1,027 people in Lugoff in need of debt relief, most of them would benefit from a debt management plan more than anything else.
These plans, often provided by one of the credit counseling services in Lugoff, SC, will allow you to pay back your creditors entirely in 3-5 years through just one payment per month. The benefits are considerable: lower interest levels, payments, and service fees. As a rule your creditors begin giving you these perks because it will cost them more money if you default. Also, debt management plans are one of the most economical strategies for consolidating credit debt in Lugoff, SC:
- Sign up: no more than $75
- Fee Every Month: $25 to 35
The funds borrowed under a debt consolidation loan are used to repay your credit card accounts with a lower annual percentage rate.
Instead of mailing checks to numerous collectors every month, you will only be responsible for your monthly debt consolidation loan payment.
Lots of consumers try and pay down they debts they’ve accrued with a home equity loan, because there are tax benefits to this approach. But remember, as this sort of loan is secured against your own home, the bank or loan company could foreclose on your home if you aren’t making your payments. Chat with a debt consolidation specialist to figure out which strategy will be ideal for you.
|Questions||Debt Management||Home Equity Loan|
|Single Payment Per Month?||Yes||Yes|
|Good Credit Required?||No||Yes|
|Overall Debt Reduced?||No||No|
|Lower Interest Levels?||Yes||Yes|
|Adverse Impact on Credit Ratings?||No||No|
|Debt Collectors Quit Calling You?||Sometimes||Yes|
|Could Lose Home?||No||Yes|
|Time Required?||3-6 Years||10-15 Years|
To decide which option would suit you best, it’s best to request a debt evaluation.
Debt Settlement vs Consolidation in Lugoff, SC
Debt consolidation and settlement are different ways to get out of debt. In contrast to debt consolidation, debt settlement leads to a percentage of your debt actually being pardoned.
Review the list below to decide if debt consolidation or settlement suits you best.
|Question||Debt Consolidation||Debt Settlement|
|One Payment Per Month?||Yes||Yes|
|Credit Balances Reduced?||No||Yes|
|Lower Interest Levels?||Yes||No|
|Negative Impact on Credit Scores?||No||Yes|
|Collectors Forced to Cease Calling You?||No||No|
|Valuable Asset Needed?||No||No|
|Works with Medical Bills?||Yes||Yes|
|Suitable for Community Property Debts?||No||No|
|Works with Pay Day Loans?||Yes||Yes|
|Suited to Business-Related Debts?||Yes||Yes|
|Can Creditors File a Claim Against You?||Yes||Yes|
|Better Than Bankruptcy?||Yes||Yes|
|Unfavorable Tax Consequences?||No||Yes|
To decide which strategy is right for you, you should request a review of of your existing debt – at zero cost!
Consolidating Payday Loans: Lugoff, SC
In Lugoff, it now seems like payday debt is just as grave a concern as credit debt.
|Locals||1 Payday Loans||2 Payday Loans||Past Due|
Have you found yourself delinquent on one or more payday advances? You’re alright, there are Lugoff SC payday loan consolidation agencies.
Would you like to read additional info on payday lending regulations in South Carolina? To learn more, check out this link.
Assessing Your Debt Load: Lugoff, SC
Have you figured out how much unsecured debt you’re carrying?
Let’s look at the recommended monthly debt for a typical Lugoff consumer:
|Annual Income||Income Per Month||Optimal Monthly Debt||Problematic Debt Load|
Debt load greater than 50%? If that’s the case, you need to contact a debt consolidation professional near you.
Choosing a Debt Consolidation Company in Lugoff, SC
When working with a debt consolidation company in Lugoff, it’s a good idea to be sure they adhere to FTC regulations.
In keeping with FTC guidelines, your Lugoff debt consolidation consultant needs to tell you:
- All pricing and charges.
- How long their program takes.
- How much you have to save before they will make contact with each creditor.
- How your credit score will be affected.
It is too much of a risk for you to settle on your provider without doing some research. You ought to chat with friends or acquaintances who have experience with a specific firm, or have us get you in touch with a debt consolidation company in Lugoff through our web form.
Consolidation Programs in Lugoff (SC)
- William F Bodie, CPA, PA, 23 Elm St, 29078
Debt Collectors in Lugoff (SC)
One of the most terrible issues with being in debt is dealing with collection agencies. More often than not, collector calls will be lessened after you register for a South Carolina debt consolidation plan.
- None Listed.