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One of the primary stressors in modern life is debt. In some cases, professional guidance is required. Popular approaches include consolidation, counseling, and settlement. Find out which is right for you.

Debt Consolidation in Grants Pass, OR

When you are snowed under with debts and trying to keep all of your payments straight, consolidation may be the answer, combining everything you owe on a monthly basis into a single payment. This may involve a loan, or otherwise a debt management plan (DMP), in which a credit counselor works in concert with your creditors to develop a payoff scheme. Debt consolidation is often used for credit cards, student loans, and cash loans. Don’t hesitate. Learn how much a debt consolidation agency can save you.

Credit Counseling in Grants Pass, OR

Credit counselors negotiate with your lenders to secure you improved rates and terms. The process doesn’t include a loan, your credit score shouldn’t drop, and the harassment from your creditors should come to an end. Best of all, you should have only one major payment to manage, and it will be an amount you’ve budgeted for. Ideally suited candidates for credit counseling have steady income, debt in excess of $3K, and will be able to pay off 2.5 percent of their overall debt month after month. Though credit counseling does not reduce your debts, it is measurably better for your credit score than a debt negotiation program. Today, lots of credit counseling companies in Grants Pass are compensated at least to some extent by means of fee income, referred to as Fair Share. What this means is the vast majority of credit card counseling solutions are inexpensive. Debt management is often affiliated with with credit counseling. Why should you participate in a DMP? Because you might enjoy:

  • Reduced Interest
  • Reduced Debt Collection Calls
  • Consolidated Payment Per Month
  • Swifter Freedom From Debt

You’ll write only one check every month to your credit counselor, and they’ll allot the funds among each of your creditors.

Debt Settlement in Grants Pass, OR

During a debt negotiation, you up and cease making payments to your creditors. Rather, you put money into a bank account until you’ve got a sufficient amount to pay the amount negotiated by your debt settlement agency. While waiting, your FICO rating gets worse because you’re no longer making your payments. Naturally, filing for bankruptcy would ruin your credit rating as well. Wondering why creditors would accept a lesser amount? Simple: it may help a debtor avert bankruptcy. In this way, the financial institution receives at least some of the debt back. While debt management plans have ongoing fees each month, debt settlement expenses are generally assessed when each account is settled.

Credit Card Debt in Grants Pass, OR

The average Grants Pass consumer makes $22,876 per annum. The average credit card debt can be estimated as follows:

Income Low Mid Range High
$22,876 $1,716 $2,402 $3,889

Grants Pass OR Debt Relief

Debt Relief Firms in Grants Pass, OR

  • Capitolwise Debt Elimination, 223 NE B St, 97526
  • Consumer Credit Counseling Service, 1314 NE Foster Way, 97526

Debt Collectors in Grants Pass, OR

  • Credit Bureau of Josephine County Inc., 130 NE Manzanita Ave, 97526-1431
  • Southern Oregon Credit Service, Inc., 785 NE 7th St, 97526-1632