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If you’re a resident of Lima and have more than $10,000 in credit card debt, you need to make a strategy for repaying what you owe while you still can. In many cases, requesting assistance from a debt specialist is recommended. Find out what you need to know about consolidation, counseling, and settlement. After you’ve considered the various strategies, we can help you find the debt relief company that’s right for you.

Debt Consolidation in Lima, OH

How great would it be to have just one monthly payment instead of a multitude of smaller ones? That’s what you get with debt consolidation. Usually, this brings about a decreased payment each month and ends collector calls. You can consolidate many types of debts, including credit cards, school loans, and cash loans. To learn the kind of debt consolidation that’s right for you, it’s best to speak with a debt specialist in your area.

Credit Counseling in Lima, OH

Credit counseling experts open a dialogue with creditors directly, often securing you reduced rates. You won’t need to take out a new loan, your credit shouldn’t be adversely impacted, and the calls from your creditors should no longer be an issue. Best of all, you should just have a single big payment to make on a monthly basis, and it will be a sum you’ve budgeted for. When you work with a credit counseling organization, you can probably:

  • Merge Your Payment Amount
  • Decrease Your Interest Levels
  • Prevent Debt Collections Harassment
  • Create a Detailed Monthly Budget

Do you have at least $10,000 of medical or credit card debt or have a debt-to-income ratio of 50% or more? You might need to enter a DMP, or debt management plan. A debt management plan is a method of consolidating debt, because your credit card, loan, and other debt payments is merged into just one sum, but there is no loan needed. This is a departure from some other types of debt consolidation that use secured loans to repay the credit card companies. You won’t have to talk with your creditors; the credit counseling professional will handle this.

Debt Settlement in Lima, OH

In order to get a better settlement, your debt settlement agency will probably ask you to stop paying back your credit card companies. Your funds will be deposited into a checking account. After there is sufficient funds to pay the agreed amount, not to mention your debt settlement firm’s fee, the money you owe will be repaid. In the meantime, your credit score will get even worse. Needless to say, declaring bankruptcy would kill your credit scores as well. In accordance with 2010 FTC guidelines, this savings account has to:

  • Be FDIC-insured.
  • Provide you with full withdrawals.
  • Not charge you for pulling out money.

Debt settlement might not be brain surgery, but it’s best left to a specialist. The programs available from debt settlement firms aren’t without their negatives:

  • Harmful for your credit ratings.
  • Debt never totally repaid.
  • Debt mounts during negotiations.
  • Collection calls probably won’t get better.
  • Tax disadvantages.
  • Could be 180 days before settlement takes place

Lima, OH: Credit Card Debt

In Lima, the average income is $30,933 a year, allowing us to calculate the average credit card debt as follows:

Income Low End Mid Range High End
$30,933 $2,320 $3,248 $5,259

>> Find out How Much You Could Save!

Debt Relief Agencies in Lima, OH

  • Ctgy, 1205 E Kibby St, 45804
  • Restored Solutions LLC, 1518 N Main St, 45801
  • A American Debt Consolidation, 122 S Elizabeth St, 45801
  • A American Credit and Debt Counseling Service, 631 W Market St, 45801
  • CCCS of Northwestern Ohio – A Division of Apprisen Financial Advocates, 1518 N Main St, #2, 45801
  • Consumer Credit Counseling Services, 1519 N Main St, #9, 45801

Debt Collection Agencies in Lima, OH

  • Fawcett Collecting Company, 3235 Allentown Rd, 45805-1740
  • General Audit Corporation, 2244 Baton Rouge, 45805-1132