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Scary as it might sound, the average consumer in Akron is believed to be carrying $24,821 of debt. In some cases, professional help is necessary. Popular approaches include consolidation, counseling, and settlement. Determine which should be on your list, then contact a debt specialist for an evaluation.

Debt Consolidation in Akron, OH

If you’ve been delinquent on your credit cards, consolidating your credit lines and non-secure debts into a single payment amount may make your life a good bit easier. You’ll find not one but two distinct kinds of debt consolidation strategies: some with loans, some without. Either way, you need to have a steady income source. Please don’t delay. Learn how much debt consolidation could save you.

>> Find Debt Consolidation Companies Now!

Credit Counseling in Akron, OH

Credit counselors work with creditors and collectors directly, helping to put together a repayment plan that suits your budget. A loan isn’t necessary, your credit score should not go down, and the letters from your creditors should stop coming. What’s even better, you should just have a single major payment to to address all of your debt each month–a sum that won’t break the bank. Whereas having your credit repaired is a technique to improve your credit rating, credit counseling is centered on relief from debt, as well as educating the consumer. A vital aspect of credit counseling is managing debt. A DMP is a method of debt consolidation, in that the money you owe every month is combined into just one payment. However, no loans are needed. This is different from some other methods of debt consolidation that use secured loans to repay your credit card balances. Each and every month, you will give an agreed payment to your Akron credit counseling service. They allocate the payments among each of your creditors.

Debt Settlement in Akron, OH

With debt negotiation, you simply quit paying your creditors. Instead, you save money in a bank account until you’ve got a sufficient amount to pay the amount worked out by your debt settlement firm. Regrettably, your credit score goes down because you’re not making your payments. In addition, the collection calls might not get any better. According to 2010 FTC policies, this savings, or “special purpose” account should:

  • Be at an FDIC-insured establishment.
  • Offer you unrestricted access.
  • Not penalize you for removing funds.

Debt negotiation in Akron might not be rocket science, but it’s better left to a qualified professional. First off, a debt professional will review your debt profile and help you come up with a comprehensive strategy. Then they will call your creditors. As soon as a settlement is agreed upon, you will be required to pay the total if you’ve got the funds ready, or start putting money aside to pay off what you now owe. No debt settlement companies in Akron should make you pay before they settle your debts. Any licensed debt settlement agency in Akron will only bill you once a credit card is settled. Most debt relief solutions normally call for regular monthly payments.

Normally, settlement companies will charge you approximately 15 percent of the amount you owe – this is a big chunk of change! This service charge is usually assessed over a period of 12-24 months.

Credit Card Debt in Akron, OH

The average Akron consumer makes $20,180 per year. The average credit card debt can be calculated as follows:

Income Low End Mid Range High End
$20,180 $1,514 $2,119 $3,431

>> How Much Could Debt Consolidation or Management Help Save You?

Debt Relief Companies in Akron, OH

  • A Debt Credit Service, 557 E Tallmadge Ave, 44310
  • CCCS of the Midwest Inc, 212 E Exchange St, 44304
  • Debt Credit Services, 2493 Romig Rd, 44320
  • CCCS – A Division of Apprisen Financial Advocates, 2569 Romig Rd, 44320
  • Mucklow, David A – A Bankruptcy Advisor, 767 E Turkeyfoot Lake Rd, 44319

Debt Collection Agencies in Akron, OH

  • Consumer Debt Services, LLC, 1606 E Turkeyfoot Lake Rd Ste 1C, 44312-5937
  • Debt Credit Services, 2493 Romig Rd, 44320-4109
  • FirstCredit International Corp., 3250 W Market St Ste 304, 44333-3321
  • Homecare Collection Service, 453 S High St Ste 301, 44311-4418
  • North East Financial Services, 239 Dayton Pl, 44310-3205