Financial anxiety has become a serious problem for Lighthouse Point residents. We have advisors ready to assess your debts and estimate how much a credit counselor in Lighthouse Point FL will save you.
Nowadays, a great many credit counseling agencies in Lighthouse Point are compensated at least in part through Fair Share, meaning they get a portion of the recovered sum. The creditors agree to this cost. As a result, nearly all credit card counseling companies are quite affordable.
Debt in Lighthouse Point: When is it Too Much?
The average income in Lighthouse Point, FL is $18,170 annually. Any consumer who pulls down this much ought to have total credit card, rent, and loan payments of no more than $545 per month, which is a little more than a third of their earnings.
If your monthly debts add up to more than 43% of your income, you need help. If you earn $1,514, the average in Lighthouse Point, this is $651. Unfortunately, lots of Lighthouse Point’s consumers we work with spend more than half of their income ($772) on these expenses.
What if you’re having to pay $757 each month, but you only make $1,514? In that case, your credit counseling expert will probably have you participate in a debt management program or DMP. A DMP is a method of consolidating debt, as the money you owe every month is condensed into just one amount. However, no loans are involved, in contrast to various other strategies of debt consolidation in Lighthouse Point, FL. Your credit counselor will carry out payment to your creditors every month. The only thing you’ll need to do is make sure they get one single payment per month.
Finding a Credit Counseling Firm in Lighthouse Point (FL)
As a program, credit counseling has been vetted by the Federal Trade Commission and other state and federal bodies. However, trusted credit counseling firms in Lighthouse Point and throughout the country ought to give you:
- About 1 Hour of Introductory Counseling
- No Charges Upfront
- A Personalized Action Plan
- Proof of Qualifications
Don’t forget, being a nonprofit won’t guarantee that a credit counseling business is legitimate, and the other way around. You should never settle for a credit counselor you can’t depend on. We want to help you find a reputable Lighthouse Point credit counseling organization.
How Much Could Debt Management Help You Save?
With credit counseling, you have still got to repay everything you owe. However, it can often bring about less expensive payments per month by means of reduced interest and penalty charges.
To determine exactly how much you could save, speak to an experienced credit counselor in Lighthouse Point, FL – today!
How much does a DMP cost you? Typically $25-30 per month, besides an initial fee of roughly $75. How much will your payments be? Usually 2.5% of how much you owe.
Credit Counseling and Bankruptcy: Lighthouse Point, FL
The credit crunch was a problem for everybody, and bankruptcies practically endemic in Lighthouse Point and across Florida. It’s estimated that 264 of Lighthouse Point’s 52,892 residents have had to resort to bankruptcy. Credit counseling is now mandatory before filing for bankruptcy. The process can be:
- In Person
- By Phone
- On the Web
Keep in mind that you must sign up for a credit counseling program post bankruptcy as well.
For an approved list of approved bankruptcy credit counseling courses for Lighthouse Point residents, click the link. Or alternatively, you can converse with an experienced debt expert by submitting this form.
Debt and Credit Counseling Agencies: Lighthouse Point (FL)
- Florida Credit Counseling Company? Contact us!