A seasoned Lehigh Acres debt negotiator works to settle your credit card debt for less than you thought possible. Let us put you in contact with a debt settlement expert that helps residents of Lehigh Acres. Are you ready to decrease your debt?
Locating a Debt Settlement Agency: Lehigh Acres (FL)
Don’t settle your debts with some unethical agency. Any good debt settlement company in Lehigh Acres, FL, will disclose a good bit of information prior to signing on:
- Pricing: monthly fees must be completely enumerated.
- Schedule: they have to say when they are going to contact the credit card issuers, and the funds you must have saved.
- Risks: they should explain the detrimental repercussions for your credit rating
You’ll want to determine whether your Lehigh Acres, FL debt settlement company is an honest one by checking the following:
- How many years have they been in operation?
- How many negotiations have they handled?
- How much are their fees?
- What is their Better Business Bureau score?
- What is their success rate?
- Are they licensed in Florida?
Negatives of Debt Settlement in Lehigh Acres (FL)
Debt settlement is the only debt option that actually results in a decrease in the overall amount owed. But it has more disadvantages than some other forms of debt relief.
Excited about debt settlement in Lehigh Acres, FL? There are a few things you must know. To begin with, your credit card companies may not want to negotiate. Additionally, settling your debt can damage your credit rating. In the end, your credit balances won’t be fully repaid. Since debt consolidation entails paying off what you owe month after month, debt collector calls typically become less frequent. As any Lehigh Acres debt settlement consultant can tell you, this is often far from the truth when it comes to debt settlement. You might have to wait half a year for anything to happen. During that time, your debts will continue to pile up.
FL Statute of Limitations on Credit Card Debt
In Florida, card issuers have 5 years to sue for unsecured debt.
Ideal Debt Settlement Prospects in Lehigh Acres, FL
Most candidates for credit card settlement have no less than $10,000 in debt, are facing filing for bankrupty, and can no longer afford to make the minimum payments on their credit lines on a monthly basis.
If you meet these criteria, don’t panic. We estimate that 3,249 Lehigh Acres residents are trying to repay at least this much debt.
Debt vs Income: Lehigh Acres (FL)
Apart from how much you owe in total, you should calculate your debt to income ratio on a monthly basis. The optimal ratio is 30-36 percent. In Lehigh Acres, consumers earn $17,308 a year, or $1,442 per month, meaning the average Lehigh Acres resident should pay out a maximum of $519 in credit card, mortgage, and car/student loan installments, but a lot of us are shelling out $721 or more month after month. These people could benefit from debt relief programs, whether it be credit card settlement or consolidation.
Lehigh Acres Debt Settlement vs Consolidation
Settling your debts and consolidating them are two different strategies. The vast majority of debt management programs result in reduced rates on your credit cards. However, there is zero decrease in pre-existing debt is involved. With debt management, consolidation, and counseling, your payment amount is combined and still pay back the credit card companies until your debts are paid off. This is does far less damage to your credit ratings. On the other hand, reduced interest rates and fees are the only form of savings you’ll enjoy.
Check here for additional information about credit counseling in Lehigh Acres, FL.
Compensating Your Lehigh Acres, FL Debt Relief Service
No debt relief services in Lehigh Acres should bill you in advance. Any qualified debt settlement agency in Lehigh Acres, FL, will only charge you once each account is paid off. Other debt relief solutions typically involve regular monthly fees. Many settlement agencies will charge you approximately 15 percent of your debt – that’s a lot! Essentially they are prohibited legally from charging you until a balance has been repaid.
Certain attorneys in Lehigh Acres, FL, might provide debt negotiation services on behalf of their clients. Whereas almost all debt settlement firms don’t impose a monthly charge, many attorneys do. That’s fine, except that they are entitled to a large share of the forgiven debt, usually a third. Obviously, this is more expensive than the rates charged by a debt settlement company. Don’t forget, your attorney won’t be able to supply you with legal advice they are licensed in Florida.
- Florida Debt Settlement Company? Contact us!