Nobody wants to go bankrupt. A legitimate Maricopa debt settlement company can often help.
Let us help you find a debt settlement company that’s right for you. Isn’t it time to reduce your unsecured debt?
Selecting a Debt Settlement Company in Maricopa, AZ
According to the FTC, Maricopa debt settlement agencies are required to provide you with some specifics before enrolling. They disclose their rates, when they plan to get started, and the risks of this method of debt relief.
Make sure to determine whether or not your Maricopa, AZ debt settlement specialist is an honest one. Check how long they have been running a business, how many negotiations they’ve handled, what their success rate is, what their prices are, and be certain they are certified to negotiate date in Arizona.
There are telltale signs of companies that are dishonest. An example, if any debt settlement company in Maricopa wants to charge advance fees, run.
Debt settlement is the only debt relief option that decreases the principal. But it has more negatives than other options.
Before you proceed with debt settlement, there’s something you need to know:
- Severely impacts your credit scores.
- Debt not fully repaid.
- Credit card companies may deny settlement.
- Debt builds while settlement is being discussed.
- Collection calls may get worse.
- Debt that’s forgiven can be taxed.
You should know that credit card companies can file suit against an individual in order to collect a debt. There is more potential for litigation when it comes to debt settlement in Maricopa, AZ. How come? Because you stop repaying them month after month. A a debt settlement attorney in Maricopa, AZ, doesn’t have the power to keep this kind of scenario from happening.
Who Should Try Debt Reduction in Maricopa (AZ)
Ideal Maricopa debt settlement candidates have at least $10,000 in debt, are considering bankruptcy, and cannot afford the minimums on their credit lines every month.
If you are one of these individuals, it’s not just you – 776 Maricopa residents owe at least $10,000 of credit card debt.
If your debt-to-income ratio is 50% or more, then debt settlement or consolidation is probably a good idea.
Put simply, if you’re investing over half of your earnings in credit cards, rent, and loans, you have to speak to a debt relief consultant. Given that the average income in Maricopa is $722.00 per month, this is just $361. You really want to shoot for a ratio of approximately 36% ($260 in Maricopa).
Managing vs Negotiating Your Debt in Maricopa, AZ
Needing to decide between consolidating and settling your debts? Debt settlement leads to a decrease in the amount you owe, whereas consolidation or management won’t.
You continue to pay off your creditors month after month under credit counseling; therefore your credit rating isn’t damaged nearly as drastically as it can be after debt negotiations. Having said that, consumer credit counseling generally takes longer and ultimately you’re going to pay back your debt in full. Click here for additional information about credit counseling in Maricopa, AZ.
Being the most dramatic debt relief option at your disposal, debt settlement is generally the most expensive.
Nearly all settlement agencies charge you a percentage of the debt you want settled, often up to 15%. Though you won’t be forced to pay until after they go ahead and get your debt reduced.
Maricopa, AZ Debt Settlement Companies
- AZ Debt Settlement Service? Contact us!