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If you’re thinking you can’t get rid of debt, you’re wrong. Specialized help may be in order. Common approaches include consolidation, counseling, and settlement. Research which fits your needs, then contact a debt specialist for an assessment.

Debt Consolidation in Painesville, OH

To put it simply, debt consolidation means consolidating various debts into a single payment. Commonly this involves the assistance of a debt specialist who acts as a middleman between you and your creditors, or a big loan that just pays off all of your smaller debts. For those who don’t desire to get a sizeable new loan, a debt management plan (DMP) may be your solution. If you want to determine the strategy that’s right for you, make sure you consult a debt specialist who can help you make the right decision.

Credit Counseling in Painesville, OH

Credit counselors speak to creditors for you, helping to set up a payment plan you can actually afford. You will not need to take out a new loan, your credit should not be adversely impacted, and the harassment from your creditors should be minimal. Even better, you should just have a single big payment to manage–an amount that fits your budget. What are the primary advantages of credit counseling? Painesville consumers may benefit from:

  • Decreased Rates
  • Speedier Debt Relief
  • Systematic Payment of Cards
  • Minimized Collection Calls

A fundamental aspect of credit counseling is debt management. If you participate in a debt management program, your Painesville credit counselor should be able to get you reduced rates and fees and penalties from the creditors you owe. You will no longer need to talk with your creditors. Your credit counselor will take care of this end of things.

Debt Settlement in Painesville, OH

Whereas debt consolidation involves everything last nickel owed to your creditors, debt settlement calls for negotiating a lesser amount.

Financial institutions understand that individuals who are past due on their payments are in danger of bankruptcy. If that happens, they won’t get a single thing. Debt settlement might be a good option if you respond with a yes to these 3 questions:

  • Have you been thinking about going bankrupt?
  • Do you owe $10,000 or more in debt?
  • Are you okay with having a low credit score if it’s necessary to get out of debt more quickly?

Of the 50,412 people who live in Painesville, 4,994 are believed to have credit card debts in excess of $10,000.

Painesville Debt Statistics

  • Average Income: $46,857
  • Average Total Debt: $57,634
  • Average Credit Card Debt: $7,966 (High)
  • Average Credit Card Debt: $4,920 (Medium)
  • Average Credit Card Debt: $3,514 (Low)

Debt Relief in Painesville OH

Debt Relief Firms in Painesville, OH

  • None listed.

Collectors in Painesville, OH

  • A.C.E. Recovery Services, 450 Blackbrook Rd, 44077-1219
  • Hudson & Keyse, LLC, 382 Blackbrook Rd, The Debt Recovery Centre, 44077-1217
  • Woodhall & Associates, 368 Blackbrook Rd Ste 100, 44077-1286