If you’re looking to become debt free and avert bankruptcy, we can help.
At Florida Debt Consolidation, our mission is to get you in touch with a debt settlement firm in Key West who will:
- Bargain with your creditors.
- Acquire an official settlement for debt forgiveness.
- Create a program to pay off your credit card debt in 2-4 years.
Are you ready to reduce your unsecured debt?
Of the 34,230 residents of Key West, we estimate that 3,391 are in need of debt relief. Are you one of them?
You shouldn’t trust your debt settlement to some shady service. Any good debt negotiator will divulge some details before signing up. They break down their prices, when they plan to get started, and the hazards you will be facing.
Make sure you determine whether or not your Key West debt settlement company is an honest one by researching the following:
- Certification: Significant qualifications include TASC and IAPDA.
- Fees: Be sure that the fees you pay are acceptable.
- User Ratings: Look for favorable reviews from past customers.
If any debt settlement company in Key West wants to charge fees before they settle your debt, avoid them, as this is not legal!
Shortcomings of Debt Settlement: Key West (FL)
Though debt settlement can bring about dramatic debt reduction, it has more disadvantages than other solutions.
The services offered by debt settlement firms in Key West, FL, aren’t without their shortcomings:
- Bad for your FICO score.
- Debt not completely cleared.
- Credit card providers can deny settlement.
- Debt continues to mount while settlement is being negotiated.
- Calls from collection agencies will probably get worse.
- Debt you don’t pay is taxable.
Debt Settlement and Lawsuits
You’ll want to be aware that credit card companies can file a suit against you to collect a debt. There is a bit more risk of lawsuits considering that you quit repaying them.
Debt settlement might be right for you if you would answer in the affirmative to these 3 questions:
- Are you looking into going bankrupt?
- Are you carrying at least $10,000 in debt?
- Are you okay with poor credit if it helps you break free from debt?
Of the 34,230 residents of Key West, 3,391 carry credit card debt in excess of $10,000.
Your credit specialists will calculate your debt to income ratio.
Let’s say you earn $1,174 per month, Key West’s average income. If have to pay no more than $423 on credit cards, loans, and mortgage/rent, you’ve got a healthy amount of debt of 36%). If you spend $434-$493 (37-42%), you should reduce how much you’re spending. If are forking over $505 to $587, which is 43-50%, you’re about to experience financial collapse. If are forking over more than $599, you’re in severe debt and really should seek expert debt help.
Settling your debts and consolidating them are two distinct strategies. Many debt management programs provide more affordable rates of interest on your credit cards. However, there is zero debt minimization is involved.
Other forms of debt relief – consolidation, management, counseling – cause as much trouble for your credit scores over the long haul, but these are long term methods in which you pay back all of your debt.
For more details, visit here: debt consolidation in Key West, FL.
No debt settlement companies in Key West should charge a fee in advance. Any licensed debt settlement agency in Key West, FL, will only charge a fee after an account is repaid. Most debt relief options usually involve regular payments.
As a rule, settlement companies charge you a percentage of the amount you want reduced, often around 15 percent. Essentially they’re prohibited by the FTC from making you pay until a balance has been settled.
- Florida Debt Settlement Company? Contact us!