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Are you a Medford resident who owes $10,000 or more to creditors? You might think impossible to pay off your balance, but it isn’t. Fortunately, there are programs and solutions that can streamline your path to financial freedom.

Debt Consolidation in Medford, OR

There are several ways of consolidating debt, but all of them involve substituting various monthly payments with one single, hassle-free payment. This might or might not involve a debt management plan approved by your creditors and you, or a large loan that simply pays off all of your existing debts. Debt consolidation is often used for revolving credit lines, student loans, and cash loans. To determine which method is best for you, contact a qualified debt relief professional.

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Credit Counseling in Medford, OR

When you sign up for credit counseling, your counselor will contact your lenders to lock down better rates and terms. A loan isn’t needed, your credit score typically won’t decline, and the harassment from your creditors should come to an end. On top of that, you should only have a single big payment to manage–a sum that fits your budget. Ideally suited candidates have stable work, unsecured debt of over $5K, and will be able to pay off 2.5 percent of their outstanding debt month after month. Keep in mind that credit counseling depends on repaying your creditors entirely. That said, it will look better to future lenders than debt negotiation. These days, a great number of credit counseling businesses in Medford are not-for-profit institutions who are financed at least in part through fee income, often known as Fair Share. As a result, a good number of credit counseling companies are quite affordable. A fundamental aspect of credit counseling is debt management. As part of a debt management program, your Medford credit counseling agency should be able to obtain less expensive APR’s and costs from your creditors. Each and every month, you’ll deliver a set amount to your Medford credit counseling agency. They’ll disburse the payments among each of your creditors.

Debt Settlement in Medford, OR

For people in Medford, debt settlement is perhaps the most drastic debt relief solution. Debt settlement involves paying back a reduced amount than what you originally owed. Debt negotiation may not be rocket science, but it’s best left to a qualified professional. How can you tell if debt settlement is right for you?

  • Are you contemplating declaring bankruptcy?
  • Are you carrying $10,000 or more in debt?
  • Are you okay with unfavorable credit if it means you can get out of debt?

Comparing Debt Relief Approaches

Question Credit Counseling Debt Consolidation Loan Debt Settlement
One Payment Per Month? Yes Yes Yes
Outstanding Balances Reduced? No No Yes
Reduced Rates? Yes Yes No
Harmful to Credit Ratings? No No Yes
Appropriate for Independent College Loans? Yes Yes No
Better Than Bankruptcy? Yes Yes Yes
Lump Payment Required? No No Yes
Adverse Tax Implications? No No Yes
Must Sign an Agreement? Yes No Yes

Debt Relief Agencies in Medford, OR

  • Consumer Credit Counseling Of Southern Oregon Inc, 820 Crater Lake Ave, 97504

Debt Collectors in Medford, OR

  • General Credit Service, Inc., 2724 Jacksonville Hwy, 97501-2120
  • Southern Oregon Credit Service, Inc., 841 W Stewart Ave Ste 11, 97501-4020