Do you work or live in Cocoa Beach, FL, and need help with your debt? Then finding a an experienced Cocoa Beach, FL debt consolidation company could be a faster way out of debt.
There are not one but two specific types of debt consolidation programs: some with a loan, some without. Either way, you need to have a stable source of income. To see which type is best for you, it’s best to check with a skilled Cocoa Beach debt consolidation agent.
Of the 1,236 residents of Cocoa Beach who could use some form of debt relief, the majority would be best served by a debt management plan.
Debt management plans, typically provided by a credit counseling agency, enable you to pay off everything you owe in 3-5 years through just one payment per month, along with less expensive interest rates, installments, and fees. Typically your card companies or payday lenders starts providing these benefits following 3 months of on time payments. On top of that, DMP’s are one of the most economical methods of consolidating debt in Cocoa Beach, FL.
Cocoa Beach (FL) Debt Consolidation Loans
The logic behind debt consolidation loans is straightforward: loans from a conventional lender traditionally carry less expensive interest rates than what you’re forking over to your credit card issuers.
Instead of sending checks to a multitude of credit card providers on a monthly basis, you’ll be responsible for your monthly debt consolidation loan payment.
If you have bad credit, a debt consolidation loan is probably not the right solution, because a good credit record is needed to obtain one of these loans with rates of interest that are low enough.
Is a debt consolidation loan a good idea?
Payday Loan Consolidation in Cocoa Beach, FL
If you’re looking to consolidate your Cocoa Beach FL payday loans, you’re not alone. Roughly speaking, 767 residents of Cocoa Beach get payday loans at least once annually, and nearly 583 of these consumers are borrowing more than once on the original debt – this is around 75%!
Have you found yourself late on more than one of these loans? That’s okay, we can connect you with a payday loan consolidation company in Cocoa Beach, FL, that can help you:
- Bring down outrageous cash advance interest rates.
- Manage debt collector calls.
- Consolidate various payday cash loans.
- Establish a strategy for repayment.
Eager to consolidate your Cocoa Beach payday loans?
In a perfect world, the amount of debt you owe each month will comprise about a third of your wages. These debts encompass ones that are secured and unsecured:
- Credit Cards
- All Loans
- Rent or Home Loans
Let’s say you earn $1,796 per month, which is about average average in Cocoa Beach, then, preferably, you would spend roughly $665 each month. Having said that, many Cocoa Beach residents are carrying major debt, indicated by debt-to-income ratios (DTI) of 50% or higher. That means they are spending more than $916 a month!
Is your debt load in excess of 50%? In that case, you need to speak with a debt consolidation expert in your area.
Credit Card and Payday Loan Debt Consolidation Providers in Cocoa Beach, FL
- Florida Debt Consolidation Company? Contact us!