At Florida Debt Consolidation, we can help you combine your unsecured debt into one simple monthly payment.
There are several specific kinds of debt consolidation programs: some involve a loan, but most don’t. In both cases, you’ll need a consistent source of income.
Don’t wait. Find out how much debt consolidation in Lake Mary, FL, could save you.
Debt Management Plans (DMP’s): Lake Mary (FL)
Most commonly, debt consolidation in Lake Mary, FL, means managing debt through a specialized program. A DMP has a lot of benefits:
- One Single Monthly Payment
- Less Expensive Annual Percentage Rates
- Waived Late Charges
Also, these plans are normally pretty reasonably priced, only $25-40 a month.
Lake Mary (FL) Debt Consolidation Loans
Should you decide to get a debt consolidation loan in Lake Mary, FL, the money is used to repay your active credit cards and/or payday loans. You still have to pay back the borrowed funds, of course, but the APR may be more beneficial.
As a rule, a debt consolidation loan will result in lower monthly payments and a fewer number of calls from debt collection agencies, since your old debts will be paid back. Not surprisingly, you’ve got to have good credit to get a loan like this. Also, it will not allow you to pay off your debts any faster. In fact, it may take longer.
Is a debt consolidation loan best for you?
Consolidating Payday Loans in Lake Mary (FL)
Due to the economic crisis, more Americans are turning to payday loans. There are 29,314 people in Lake Mary, and we estimate that 1,524 get one or more payday advance annually. Lamentably, roughly 671 of these applicants are not being able to pay back their cash advances. That’s a whole lot of men and women who should look into consolidating their Lake Mary payday loans!
Are you currently past due on more than one of these loans? No problem, we work with Lake Mary FL payday loan consolidation firms who will consolidate your payday loans into a smaller monthly installment, serve as a barrier for telephone calls from debt collectors, and minimize the outrageous interest rates attached to these sorts of loans.
Eager to consolidate your payday loans?
To determine if debt consolidation is right for you, you need to know the relation of debt to income.
In an ideal world, no more than 33% of your income will be devoted to paying down what you owe. These debts include both secured and unsecured debts:
- Credit Card Accounts
- Vehicle, Student, and Payday Loans
- Mortgage Payments
Let’s say you make $2,565 a month, which is about average average for someone who lives in Lake Mary, then, in a perfect world, you would spend less than $949 a month. Sadly, many Lake Mary residents are carrying serious debt, classified as a debt to income ratio of more than 50%. They’re forking out more than $1,283 per month!
Does it feel as if you’re all alone, struggling with debt? You are not. In fact, we estimate that 2,457 of Lake Mary’s 29,314 residents need help with debt.
Credit Card Consolidation Guidelines
Stay clear of any Lake Mary debt consolidation companies that charge fees upfront, won’t disclose important specifics or savings necessary for consolidation, or ask you to open a bank account from which you won’t be able to pull out money without fees.
Avoid any debt consolidation services that have a record of disreputable conduct, and for more information, read these FTC standards.
Debt Consolidation Agencies: Lake Mary, FL
- Florida Debt Consolidation Company? Contact us!