For people in Jacksonville, FL, debt settlement is becoming an ever more popular solution. At Florida Debt Consolidation, we can find you a debt settlement agency who can:
- Negotiate with your card issuers.
- Get you a written contract for debt elimination.
- Develop a program to repay your creditors in 2 to 4 years.
You shouldn’t settle your debts with some dishonest company. Any reputable debt settlement company in Jacksonville, FL, will divulge some specifics prior to signing up. They spell out their costs, their starting dates, and the risks of this approach to debt relief.
You’ll want to find out whether your Jacksonville, FL debt settlement firm is an honest one. Find out how long they have been negotiating debt, how many negotiations they’ve handled, what their rate of success has been, what their fees are, and be certain they are licensed to negotiate date in the state of Florida.
No Jacksonville, FL debt settlement services are supposed to charge upfront fees!
Debt settlement is the only debt solution that actually brings about a reduction in the overall amount owed. But it is an extreme succession of negotiations that includes several risks and sacrifices.
Roughly 79,105 of Jacksonville’s 798,556 residents need to eliminate over $10,000 of debt. Let us put you in touch with a debt settlement expert in Jacksonville, FL.
The services offered by debt settlement firms in Jacksonville, FL, do have their downsides:
- It’s bad for your credit ratings.
- Debt not fully repaid.
- Creditors can refuse settlement.
- Debt keeps growing while negotiations are going on.
- Debt collector calls may keep coming in.
- Debt that you don’t pay is taxable.
- Could be 6 months before settlement takes place
For you to be eligible for a a credit card settlement program in Jacksonville, FL, you typically have to have:
- $10,000 in Credit Debt
- $300 Per Month to Spend
If you meet these criteria, you are not alone – 79,105 Jacksonville residents are living under this much debt.
Jacksonville Debt to Income Ratio
People with debt to income ratios of 50% or more are ideal candidates for debt relief, either settlement or consolidation. The ideal ratio? 30 to 36 percent. The average income in Jacksonville, FL, is $26,541 annually, or $2,212 each and every month, meaning the average Jacksonville resident ought to fork out approximately $818 in credit card, mortgage/rent, and auto/college loan repayments, but many people are forking out $1,128 or more each month. These individuals are in need of debt relief of some type or another.
Jacksonville Debt Settlement vs Consolidation
Credit card settlement and consolidation each have their positives and negatives. Many debt management plans result in less expensive rates of interest on your credit cards and/or payday loans, but no forgiveness of the balance due.
You continue to pay off your creditors monthly as part of a debt management plan. So your credit rating isn’t affected nearly as dramatically as it can be after a debt settlement. However, debt consolidation generally takes longer and ultimately you will pay off your debt in full.
For more details, visit here: debt consolidation in Jacksonville, FL.
Fee Structure for Debt Settlement
Whereas debt management plans have flat fees each month, debt settlement charges are typically applied after each balance is repaid. Normally, settlement firms will charge you roughly 15 percent of the amount you owe – that’s a lot! Though you won’t have to pay until after they actually settle your debt.
Jacksonville, FL, debt settlement attorneys are typically pricier than a debt settlement company. The fee system for debt settlement attorneys in Jacksonville tends to be distinctive. The problem is that they also receive a percentage of the debt they save you: 30 percent. As you expected, this is more expensive than a debt settlement service.
Debt Settlement Firms: Jacksonville (FL)
- Kalell Banckers, 1654 Southside Blvd, 32216
- Fresh Start Financial Service, 9951 Atlantic Blvd, #Blvd-313, 32225
- J Johnson Enterprises Fax Line, , 32009
- Jacksonville, Fla Bankruptcy Lawyer Josh J Tejes, 1309 Saint Johns Bluff Rd N, 32225
- LLS Bankruptcy Attorneys Jacksonville, 221 N Hogan St, #1, 32202
- Fidelity Bank, 10151 Deerwood Park Blvd, #100, 32256
- Bankruptcy Law Offices of Keith D Collier 696-DEBT, 2350 Park St, 32204
- Consumer Credit Counseling Service, 1639 Atlantic Blvd, 32207
- Ritchie, Mitch Attorney – Law Office of Mitch Ritchie, PA, 2720 Park St, #219, 32205
- J Randall Frier, Attorney, 12058 San Jose Blvd, #504, 32223
- Parker, Chip Attorney – Parker & Dufresne, PA, 8777 San Jose Blvd, 32217
- Bill & Debt Pay Off Svc LLC, 673 W 17th St, 32206