We could help you consolidate what you owe into one easy monthly payment.
Generally, Ridgeland debt consolidation means working with a credit counseling agency in Ridgeland, South Carolina to participate in a debt management plan. Your creditors must agree to a strategy such as this. Normally the card issuers reward your debt consolidation professional themselves, which helps to decrease how much it costs for you. Debt consolidation also can mean applying for a home equity loan to pay off your debts.
We can get you started with a respected Ridgeland, SC debt consolidation service.
Credit Card Debt Consolidation in Ridgeland (SC)
Credit cards can certainly be as dangerous as they are popular. Fortunately, there are options.
Do you want to get out of debt more quickly, with reduced annual percentage rates and penalties or fees? If so, you might want to sign up for a debt management plan. A DMP offers quite a few advantages:
- Only One Monthly Payment
- More Affordable Rate Of Interest
- Waived Penalty Fees
What’s more, these kinds of programs are typically rather affordable, only $25-35 monthly.
Should you decide to get a debt consolidation loan in Ridgeland, SC, you will use the funds to pay down your existing credit lines. You still have to pay back the borrowed funds, of course, but the annual percentage rate may be better.
Normally, a debt consolidation loan will lead to lower monthly payments and a lot fewer calls from collections companies, given that your prior debts will be paid in full. Ideal candidates for debt consolidation loans in Ridgeland are homeowners with good credit and appreciable earnings, as these are needed to help you receive a loan at an economical rate of interest. When you want to consolidate your debt, you really need to speak to a service that does debt consolidation in Ridgeland, SC.
Ridgeland Debt Management vs Consolidation Loans
|Question||Debt Management||Debt Consolidation Loan|
|One Payment Amount?||Yes||Yes|
|Good Credit Required?||No||Yes|
|Decreased Interest Rates?||Yes||Yes|
|Negative Effect on Credit?||No||No|
|Debt Collectors Stop Calling You?||Often||Yes|
|Will Need a Valuable Asset?||No||Yes|
|Risk of Foreclosure?||No||Yes|
|The Length Of Time?||3-6 Years||10-15 Years|
|Better Than Bankruptcy?||Yes||Yes|
To find out which alternative is right for you, we recommend you request an assessment of your present debt.
When to Consolidate Your Debt
To find out which debt consolidation approach is right for you, you must know the relation of debt to income. Preferably, your monthly debt payments ought to comprise about a third of your earnings. This encompasses credit cards, vehicle/student/payday loans, and rent/home loan payments. For instance, suppose you earn $1,260 every month, which is the average for Ridgeland residents, then, if possible, you would spend around $466 a month. Having said that, many Ridgeland residents are carrying considerable debt, with a debt to income ratio (DTI) of 50% or more. That means they are forking out more than $643 each month!
If your ratio of debt to income is over 50%, you might want to consult a debt consolidation professional in Ridgeland, SC.
Deciding on a Debt Consolidation Service in Ridgeland, SC
Even if you allow us to find you a debt consolidation company in Ridgeland, you should make certain they adhere to FTC guidelines.
As per FTC guidelines, any Ridgeland, SC debt consolidation consultant has to fully explain:
- Registration and fees each month.
- How long before they email or call each credit card company.
- The amount that must be saved before they will speak with each creditor.
- The detrimental impact on your credit ratings.
It’s dangerous to pick your company randomly. It’s best to check with people who have knowledge of firms you’re considering. On the other hand, you can let us find you a debt consolidation company in Ridgeland through our web form.
- SC debt consolidation company? Contact us!
Debt Collection Agencies: Ridgeland (SC)
Are you getting telephone calls from collectors all the time? Thankfully, once you enroll in a debt consolidation program, your consolidator will often handle calls from collection agencies. However, debt collectors are not under any obligation to honor this request.
- None Listed.