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Research has shown that the average consumer in Hamilton is believed to have $34,441 of debt. At Repaid.org, we can help you traverse the extensive array of debt relief solutions now available. Then we’ll provide you with a debt professional or credit counselor to assist you through the process.

Debt Consolidation in Hamilton, OH

Debt consolidation may relate to a number of debt relief strategies, but most are aimed at uniting several debts under a single affordable payment. The advantages are extensive:

  • Simplicity of single monthly payment.
  • Reduced monthly payment amount.
  • Possible cut in interest rate via lender concession.
  • Protection against calls from lenders and collectors.

You can consolidate an assortment of debts, including credit cards, student loans, and cash advances. To learn which type fits your needs, consult a certified debt consolidation advisor.

Credit Counseling in Hamilton, OH

Credit counseling has many advantages:

  • Home isn’t put in jeopardy.
  • No trouble for your credit.
  • Single monthly payment suited to your budget.
  • Shielded from credit card companies and collections.

For this reason, credit counseling is perhaps the less hazardous of all debt relief strategies, and it’s typically very low-priced as well. For the most part, people who could benefit from Hamilton credit counseling have stable work, unsecured debt of over $3,000, and have contemplated filing bankruptcy. In the end, credit counseling does much less damage to your fico score than a debt settlement program, since you completely pay down everything you owe. Debt management and credit counseling companies are in effect compensated by whomever you owe money to, which means the prices are normally very reasonably priced, from $0-35 each month. A fundamental part of credit counseling is debt management. If you sign up for a DMP, you might profit from:

  • Lowered Rates
  • Decreased Debt Collection Agency Calls
  • One Payment Per Month
  • Speedier Debt Relief

Your credit counseling service will carry out payment to your creditors each month. Pretty much all you need to do is provide them with the fixed payment per month.

Debt Settlement in Hamilton, OH

Debt settlement firms may be able to reduce your debts down 20-60% from their original value. Debt settlement involves paying off some of what you owe, but not all of it. Why do banking institutions consent to a dramatically reduced amount? Because it often helps a borrower avert filing for bankruptcy, in order that they receive at least a share of the amount owed them. To start with, you and your debt professional will create a strategy. Then they will call your credit card providers on your behalf. When a sum is accepted by both parties, you will be required to pay the amount if you have the funds on hand, or open a bank account for saving money to pay what you now owe. Debt settlement might be right for you if you answer yes to the following questions:

  • Are you looking into going bankrupt?
  • Do you owe at least $10,000 in debt?
  • Can you put up with unfavorable credit ratings?

If you fall into this category, you are not alone. We estimate that 20,148 of Hamilton’s 203,395 residents are living with at least $10,000 of credit card debt.

Consolidating vs Settling Debt

Debt settlement is often wrongly identified as debt consolidation. They are entirely separate. Many debt management programs result in lower interest rates on your credit cards. However, there is no lowering of existing debt is involved. Some forms of debt relief – consolidation, management, counseling – cause nearly as much trouble for your FICO ratings over time, but they are protracted remedies in which you pay off all of your debt.

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Debt Relief Firms in Hamilton, OH

  • Life Span, 111 Buckeye St, 45011
  • Lifespan Credit Counseling, 1900 Fairgrove Ave, 45011

Debt Collection Agencies in Hamilton, OH

  • Knightsbridge Receivables Management, LLC, P.O. Box 25, 45012