At Debt Relief Alabama, we make it possible to combine your debts into one simple payment amount. If you go to a credit counseling company in Wetumpka, AL, you’ll be able to combine your debt under a plan for managing debt, referred to as a DMP. Your counselors try to obtain benefits from your creditors, which may include:
- Reduced APR’s
- Waived Penalty Fees
- Decreased Monthly Payments
Consolidation can also infer home equity loans that swap your credit card debt with collateralled debt. Are you ready to get rid of credit card debt? Get in touch with a debt consolidation firm in Wetumpka, AL. It’s free!
Debt Management in Wetumpka, AL
Of the 2,022 people in Wetumpka needing debt relief, the majority would benefit from a debt management plan above all else.
These plans, typically managed by a credit counseling agency, will allow you to repay all the money you owe in 36-60 months through a single monthly payment, in addition to more affordable rates, installment payments, and extra charges. Almost always your card issuers or lenders begin offering these benefits following three consecutive payments are made.
In addition, DMP’s are one of the cheapest methods of consolidating credit and payday loan debt in Wetumpka, AL.
Debt Consolidation Loans: Wetumpka, AL
Debt consolidation loans are used to pay down your credit lines. The advantages of debt consolidation loans in Wetumpka, AL, mirror those of a debt management program, including consolidated monthly payments, fewer calls from collections agencies, and less expensive interest levels.
A lot of consumers try and pay back their debts with home equity loans, since there are tax benefits. Then again, as this kind of loan is secured against your home, the bank or financial institution could foreclose on your home if you fall behind on your payments. Talk with a debt consolidation consultant in Wetumpka, AL, to figure out which debt consolidation strategy is best for you.
Consolidating Payday Loans: Wetumpka (AL)
Consolidating payday loans in Wetumpka, AL, has become almost as common as debt consolidation for credit card bills. Of the 24,120 residents of Wetumpka, we estimate that 1,254 obtain one or more payday advance every year. Lamentably, around 552 of these loan takers wind up defaulting on their cash advance loans – that’s almost half!
On the plus side, we can help you find a payday loan consolidation company in Wetumpka, AL, that can help you consolidate your Wetumpka payday loans with a smaller monthly payment, serve as a barrier for phone calls from lenders, and scale back the exorbitant loan rates affiliated with payday loans.
Ready to get rid of payday loan debt?
Do you know how much unsecured debt you’ve got?
In an ideal world, the amount of debt you owe monthly should take up no more than 1/3 of your earnings. These debts encompass credit card bills, vehicle/payday loans, and rent or home loan repayments. Let’s suppose you make $4,195 per month, which is the average for Wetumpka residents, then, preferably, you would spend no more than $1,552 each month. Sadly, many Wetumpka residents have major debt, with debt-to-income ratios of 50% or higher. That means they are shelling out more than $2,098 a month!
If your debt load is higher than 50%, you’ll want to consult a debt consolidation specialist in Wetumpka, AL.
Debt Consolidation Regulations
As outlined by the FTC, any Wetumpka debt consolidation company needs to:
- Clarify all pricing and charges.
- Say how long their programs take.
- Inform you of how much you must have saved before they’ll connect with every credit card company.
- Explain any risks for your credit rating.
Don’t ever be part of a program that has a negative reputation.
Debt Consolidation Firms in Wetumpka, AL
- Alabama credit counseling firm? Email us!