If you’re researching Florence debt consolidation services, we’re here to help.
You’ll find not one but two different kinds of debt consolidation solutions: with and without a loan involved. In each case, you need to have a consistent income source. To determine which method meets your needs, you’ll want to speak with a skilled Florence debt consolidation advisor.
The most common form of debt consolidation in Florence, AL, will involve managing debt through a specialized program.
A DMP has lots of benefits:
- One Single Payment
- Lowered Annual Percentage Rates
- Waived Late Payment Fees
Also, these types of plans are generally pretty cost-effective.
Debt Consolidation Loans in Florence (AL)
You will find two principal types of debt consolidation loans: unsecured personal loans and loans backed by your home. The second is most popular.
Instead of posting checks to a wide variety of creditors on a monthly basis, you will only have your monthly debt consolidation loan payment. If you go with a home equity loan, there may be a positive impact during tax season. On the other hand, if you fall past due on a loan like this, you will be at risk of losing your home or need to sell it.
If you would like consolidate your debt, you should get in touch with a firm that does debt consolidation in Florence, AL.
Florence, AL Payday Loan Consolidation
A lot of Florence residents owe payday loans to an array of loan creditors. Around 3,110 people in Florence get cash advance loans fairly often, and approximately 2,363 of these individuals have got multiple payday loans. That’s staggering. It’s more than 75%! Are you delinquent on one or more payday cash advances? Fear not, we can connect you with Florence AL payday loan consolidation firms that can assist you to consolidate your Florence payday loans with a smaller monthly installment, take calls from collectors, and limit the extortionate interest percentage that come with payday loans.
Hoping to consolidate your Florence payday loans?
When to Consolidate Your Debt
Preferably, no more than 36% of your income will be dedicated to paying off debt. Such debts include things like credit card bills, automobile/student/payday loans, and rent/mortgage payments. Let’s consider how this works for a typical resident of Florence, AL:
- Annual Income: $21,467
- Income Per Month: $1,789
- Optimal Debt Load: $644
- Severe Debt Load: $895
If your debt load is higher than 50%, you should talk with a debt consolidation consultant near you.
Debt Consolidation Fraud: Florence (AL)
As outlined by FTC guidelines, your Florence debt consolidation service needs to:
- Make clear their fee structure.
- Let you know how many weeks their system takes.
- Let you know how much you have to have set aside before they’ll connect with every credit card company.
- Make clear how debt consolidation could impair your credit scores.
Don’t forget to look into your Florence debt consolidation company prior to registering, and for more information, take a look at this directory of resources on the FTC’s website: In Debt?.
Debt Consolidation Firms: Florence, AL
- Bond Botes Sykstus & Larsen PC, 102 S Court St, 35630