If you’re delinquent on your credit card bills, consolidating your credit lines into one payment each month may relieve some stress.
Traditionally, Yuma debt consolidation means working with a credit counseling agency in Yuma, Arizona to participate in a debt management plan. Your debt specialist will negotiate more favorable interest rates and terms from your creditors. Let us place you with a reputable Yuma, AZ debt consolidation service.
Want to get out of debt more quickly, with less interest and bank charges? If so, you should probably sign up for one of the debt management plans in Yuma, AZ.
A DMP provides numerous advantages:
- Lower Monthly Payment
- Reduced Interest Rates
- Fewer Late Payment Fees
Additionally, these types of programs are usually quite cheap, just $25-40 each month.
Debt Consolidation Loans in Yuma, AZ
You will find two primary kinds of debt consolidation loans: unsecured personal loans and loans secured by a home or other property, of which the second is most common. Instead of posting payments to a multitude of credit card providers on a monthly basis, you’ll simply need to worry about your monthly payment. Most suitable candidates for debt consolidation loans in Yuma are homeowners with terrific credit and appreciable salaries, because these are necessary if you want to arrange a loan at a cheap rate of interest. Is a debt consolidation loan right for you?
Consolidating Payday Loans in Yuma (AZ)
Payday loans have been growing in popularity because of the credit crunch. Of the 125,387 people in Yuma, roughly 6,520 end up with one or more payday advance a year. Alas, close to 2,869 of these applicants wind up being behind these cash advance loans. That is nearly half! Thank goodness, there are Yuma AZ payday loan consolidation firms that will help you:
- Combine two or more payday advances.
- Bring down extortionate payday advance APR.
- Set up a strategy for payment.
- Lower collect agency phone calls.
Want to have a look at payday lending laws and regulations in Arizona? For more info, explore this site.
Yuma Debt Budgeting
Any Yuma debt consolidation consultant you talk with will need to learn how much debt you’re carrying that’s unsecured, meaning it’s not guaranteed by equity of some type. The most commonly seen reasons for debt are:
- Credit Cards
- Payday Loans
- Rent/Mortgage Payments
- Physicians’ Bills
- Other Revolving Credit Lines
If at all possible, your monthly debts will account for only 33% of what you make. Such debts encompass ones that are secured and unsecured:
- Credit Card Balances
- Auto, Student, and Payday Loans
- Home Loan Payments
For example, say you make $1,720.00 per month, which is about average average for Yuma residents, then, ideally, you would spend around $619 each month. Unfortunately, many Yuma residents are in severe debt, classified as a debt to income ratio of more than 50%. That means they are having to spend more than $877 per month!
If your monthly debt cost is greater than 50%, you need to speak with a debt consolidation consultant in your area.
Payday Loan and Credit Card Consolidation Agencies in Yuma (AZ)
- Consumer Credit Counseling Services, 2450 S 4th Ave, 85364
- Pyramid Services Inc, Laguna Aaf (Yuma Proving Ground) (LGF), 85365
- CCCS (A Division of MMI), 2450 S 4th Ave, #500, 85364