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Did you know that the average consumer making $21,884 annually, the average in Findlay, is estimated to carry $26,917 in total debt. We’ll help you determine whether a professional solution like consolidation or counseling ought to be in your future. Then we’ll put you in touch with a debt professional or credit counselor who can assist you through the process.

Debt Consolidation in Findlay, OH

Debt consolidation may relate to a number of different strategies, but they are all geared towards merging a range of debts under a single affordable payment. This could involve a loan or a debt management plan (DMP), an offer of debt payment approved by your creditors, often with a reduced interest rate. Typically, a debt management plan is the way to go, as opposed to a loan, seeing as your home or other real estate isn’t put in danger. To determine which method meets your needs, it is best to talk to a licensed debt relief advisor.

Credit Counseling in Findlay, OH

Credit counseling entails working with an accredited specialist. You pay back in full what you owe, but more rapidly, easily, and affordably than you would otherwise. The process is less costly than debt settlement, and you won’t be taking on a large loan. In point of fact, credit counseling is mandatory for consumers filing bankruptcy. Most suitable candidates for credit counseling have steady work, debts of over $10K, and have thought about filing bankruptcy. In the end, credit counseling is much less detrimental to for your credit ratings than debt negotiation because you aren’t supposed to quit making payments to your credit card companies. For the most part, debt management and credit counseling firms get paid via contributions from your credit firms, and so the prices are typically very cost-effective, from $0-40 per month. Debt management is often associated with with credit counseling. If you participate in a DMP, your Findlay credit counselor should be able to negotiate lower APR’s and better terms from your creditors. Basically, your credit counseling service will deal with your creditors directly.

Debt Settlement in Findlay, OH

If you would like to steer clear of bankruptcy, but you are unable to pay off your credit cards on a monthly basis, we can help. Debt settlement involves paying off only a portion of your original debt. Why would creditors accept a dramatically reduced amount? For one reason: they would like people to avoid going bankrupt, in order that they secure at least a share of the debt back. To start, your Findlay debt settlement company will begin reaching out to your creditors. When an amount is agreed upon, you will either pay the settlement if you’ve got the cash available, or begin putting money aside to pay your settlement amount. Generally, it’s wise if you can pay back the total amount in as short a time as possible. While debt management programs have basic monthly fees of $25-40, debt settlement costs are usually applied once each balance is repaid.

Most settlement companies charge a percentage of the balance you want settled, often up to 15%. This fee will normally be assessed over 12-24 months.

Comparing Debt Consolidation to Debt Settlement

Debt settlement and consolidation/management each has its own benefits and drawbacks. A lot of debt management plans provide lower rates for your credit cards and/or payday loans. However, there is no debt minimization is involved. These methods of relieving debt – debt consolidation, management, and counseling – cause all that many problems for your FICO score ultimately, but these are extended remedies that require you to pay back all of your debt.

Debt Relief Findlay OH

Debt Relief Firms in Findlay, OH

  • Consumer Credit Services, 1941 Carlin St, 45840
  • Mortgages: First- Equity- Consolidation- Ohio, 400 S Main St, 45840
  • CCCS of Northwestern Ohio – A Division of Apprisen Financial Advocates, , 45872

Debt Collectors in Findlay, OH

  • None listed.