You might be able to negotiate a debt settlement for less than expected, and keep away from bankruptcy to boot.
Let us match you with a debt settlement firm in Odessa, FL – today – who works with Odessa residents. Isn’t it time to get out of credit card debt?
Of the 13,995 people who live in Odessa, around 1,386 owe at least $10,000 on their credit cards. You are not alone. Get debt relief today.
You shouldn’t settle your debts using some shady agency. Any honest debt settlement company in Odessa, FL, will disclose the following specifics before you get started:
- Fees: all fees should be completely enumerated.
- Duration: they have to say when they’ll get in touch with the credit card issuers, along with the funds must be saved.
- Risks: they should tell you about the negative effects of no longer paying your creditors
Be sure to find out whether or not your Odessa, FL debt settlement service is legitimate. Check the following:
- How long have they been operational?
- How many clients have they handled?
- How much do they charge?
- How successful have they been?
- Are they licensed in the state of FL?
Don’t forget: no Odessa, FL debt negotiation service is allowed to charge advance fees!
Debt settlement is the only debt solution that actually results in a decrease in principal. But because of the unfavorable influence on your FICO rating, it is viewed as an alternative to declaring oneself bankrupt.
The services provided by debt settlement firms in Odessa, FL, aren’t without their disadvantages. First off, your credit card issuers do not have to accept settlement terms. Additionally, debt negotiation will be worse for your credit score than paying off your debt with a debt consolidation loan. After all, your creditors won’t be completely repaid. Given that debt consolidation entails paying back your creditors on a monthly basis, collector calls ought to be reduced. As any Odessa debt settlement professional can tell you, this is not the case when it comes to debt settlement. Debts you no longer owe can be taxed.
FL Statute of Limitations on Credit Card Debt
As a resident of Odessa, this is what you need to know as regards the Florida statute of limitations when it comes to debt:
- Statute of Limitations: 5 years
- State Statute: 95.1
- More Information: www.flsenate.gov/Laws/Statutes/2010/95.11
To be qualified for a debt settlement program in Odessa, FL, you usually need:
- $10,000 in Debt
- $300 Each Month to Spend
If you meet these criteria, don’t fret. We estimate that 1,386 of Odessa’s 13,995 residents are carrying this much debt.
Income vs Debt in Odessa, FL
In addition to your total debt, you should determine your ratio of debt to income. The perfect ratio? 33-36%. The average income in Odessa, FL, is $71,141 annually, or $5,928 on a monthly basis, meaning a typical Odessa resident ought to spend about $2,193 in credit card, mortgage, and loan payments. Unfortunately, many people are shelling out more than $2,964 monthly. Not surprisingly, these consumers are in need of debt relief, either credit card settlement or consolidation.
Odessa Debt Settlement vs Credit Counseling
Credit card settlement and consolidation/management each have their own advantages. Debt settlement leads to a reduction in what you owe, and consolidation or management does not. With debt management, consolidation, and counseling, your payment amount is consolidated. However, continue to pay back the credit card issuers until your debt is fully paid. This is better for your credit scores, but the only debt savings come from decreased rates and late fees.
For more details, go there: debt consolidation in Odessa, FL.
Being the most radical debt relief solution at your disposal, debt settlement is generally the highest priced.
The majority of settlement companies charge you a percentage of the balance you want reduced, often up to 15%. Essentially they’ve been prohibited by law from assessing a fee until a balance has been settled.
Debt Settlement Companies: Odessa, FL
- R Harris Financial, Incorporated, , 34667