We can help you combine credit card debt into one simple monthly payment. The word debt consolidation can refer to one of two completely different strategies to debt relief:
- Debt Management Plans (DMPs)
- Debt Consolidation Loans
Please don’t wait. Find out how much debt consolidation in Mauldin, SC, will save you.
Credit Card Consolidation in Mauldin, SC
Virtually every South Carolina resident has a visa or mastercard today, and most of them don’t pay off their balance each month. Luckily, there are solutions.
Most often, debt consolidation in Mauldin, SC, entails managing debt through a credit card consolidation program. This type of debt consolidation provides a lot of benefits:
- Single Payment
- Lowered Interest Levels
- Fewer Extra Fees
If you’re searching for a credit card consolidation program in Mauldin, SC, this is among the least expensive ways to go, just $25-35 monthly.
Mauldin, SC Debt Consolidation Loans
The thinking behind debt consolidation loans is simple: unsecured personal loans and home equity loans traditionally come with less expensive rates of interest than what you’re paying to your credit card providers.
Instead of mailing payments to an array of debt collectors each month, you will only need to worry about your installment payment. Of all your debt relief solutions, a debt consolidation loan will have the best effect on your credit rating. Alternatively, it can be high-risk. If the loan is backed by the value of your loan, don’t forget what happens if you fall behind.
Consult a debt consolidation consultant in Mauldin, SC, to determine which debt consolidation strategy will be right for you.
|Question||Debt Management||Consolidation Loan|
|One Payment Amount?||Yes||Yes|
|Good Credit Required?||No||Yes|
|Results in Debt Reduction?||No||No|
|Damaging Impact on Credit Report?||No||No|
|Collection Agencies Stop Phoning You?||Often||Yes|
|How Much Time?||3-6 Years||10-15 Years|
To decide which alternative suits you best, you might want to call a debt professional.
Mauldin, SC Debt Loads
Ideally, approximately 33% of the income you earn each month will be invested in paying down what you owe. These debts incorporate both secured and unsecured debts:
- Credit Card Payments
- Any Loans
- Rent or Mortgage Payments
Let’s suppose you make $4,318 per month, which is the average for someone who lives in Mauldin, then, ideally, you would spend no more than $1,598 a month. Lamentably, many Mauldin residents are in serious debt, classified as debt-to-income ratios of more than 50%. They’re having to spend more than $2,159 per month!
If your monthly debt cost is over 50%, you might want to speak to a debt consolidation expert in your area.
- SC debt consolidation company? Contact us!
Debt Collections Agencies: Mauldin (SC)
- None Listed.