Do you want to decrease your debt by 20-60%? Enlisting the help of a trustworthy debt settlement firm in Laveen, AZ, might be the first step out of debt.
At Debt Relief AZ, we can connect you to a debt settlement firm – right now – that’s best-suited for your needs. Isn’t it time to get rid of credit card debt?
You can’t put your faith in some shady agency. Virtually any reputable debt negotiator will give you the following details before signing up:
- Fees: monthly fees are to be carefully described.
- Timeline: they have to say when they are going to contact the credit card providers, and how much money must be saved.
- Risks: they should inform you of the detrimental effects of choosing not to pay your creditors
Be certain that your Laveen, AZ debt settlement service is legit. See how many years they have been in business, how many clients they’ve handled, what their rate of success has been, how much they charge, and you should make sure they’re registered to conduct business in the state of Arizona.
There are some indicators of companies that are unethical. For example, if any debt settlement company in Laveen tries to charge you advance fees, run – this is not okay!
A debt settlement program has some highly-touted advantages:
- Only Pay 40-80% of Original Amount Owed
- Significant Interest Savings
- Quick 24-36 Month Timeline
- Flexible Settlement System
- Alternative to Bankruptcy
However, it has more downsides than some other sorts of debt relief.
The services provided by debt settlement firms in Laveen, AZ, do have their drawbacks. To begin with, debt settlement is bad for your credit score, because what you owe won’t be totally paid off. Given that debt consolidation involves repaying your debts on a monthly basis, debt collector calls should be reduced. As any Laveen debt settlement advisor will affirm, this is far from the truth with debt settlement. It may take up to half a year for anything to happen. During that time, your credit balances will mount. Debt you no longer owe may be taxable.
You’ll want to know that credit card companies are able to file a lawsuit against a borrower to pursue a debt. The risk of getting sued is greater since you quit repaying your creditors each month.
In Arizona, credit card companies have 6 years to bring you to court for debt.
Suitable Debt Settlement Candidates: Laveen (AZ)
How can you tell if debt settlement is worth pursuing?
- Are you contemplating going bankrupt?
- Do you owe $10,000 or more in debt?
- Are you okay with having unfavorable credit if it means you can get out of debt?
Of the 6,346 people who live in Laveen, 629 are thought to carry credit card debt of more than $10,000.
In addition to how much you owe in total, you’ll want to figure out your debt to income ratio.
In short, if you’re investing over half of what earn in credit cards, home loan, and vehicle loans, you need to talk with a debt settlement professional in Laveen, AZ. Considering that the average income in Laveen is $3,210.00 a month, we’re talking about $1,605. You really want to shoot for a ratio of somewhere around 36% ($1,156 in Laveen).
Debt settlement and consolidation have one thing in common: just one single monthly payment. However, the similarities stop there.
Whereas debt settlement results in a reduction in debt, management does not. With debt management, consolidation, or counseling, your payment amount is consolidated, but you keep paying down the credit card companies until your debt is paid off. This is is more favorable for your FICO score. However, the only debt savings result from cheaper rates of interest and fees.
Click here for additional information about debt consolidation in Laveen.
As the most extreme debt relief solution available, debt settlement is generally the highest priced.
Generally, settlement agencies charge you a percentage of the amount you want reduced, often about 15 percent. This fee will often be paid over a period of 1-2 years.
- AZ Debt Settlement Service? Contact us!