A skilled Palm Harbor debt settlement agency may be able to reduce your debt to less than what you owe.
At Florida Debt Consolidation, our mission is to help you find a debt settlement consultant in Palm Harbor that’s right for you. On top of that: there are zero commitments, and no fees for this service.
According to the FTC, Palm Harbor debt settlement specialists have to divulge some information before enrolling:
- Fees: charges are to be fully described.
- Duration: they must tell you when they’re going to reach out to the credit card companies, and how much money must be saved.
- Liabilities: they should inform you of the detrimental effects of choosing not to pay your creditors
Always make sure that your Palm Harbor, FL debt settlement company is reputable. See the following:
- Qualifications: Popular qualifications include TASC and IAPDA.
- Payment Structure: Make sure the rates you pay are realistic.
- Customer Ratings: Search online for positive case studies from recent consumers.
Please remember: no Palm Harbor, FL debt negotiation agencies can charge fees in advance!
Also referred to as debt negotation in Palm Harbor, debt settlement provides several well-known advantages:
- 20-60% Decrease in Debt
- Big Interest Savings
- Quick 3-5 Year Schedule
- Flexible Payment Plan
- Substitute for Bankruptcy
However, it has a dramatic impact on your FICO ratings. For that reason, you ought to be totally certain that it is the right option to reduce your debt.
Debt settlement does have its disadvantages:
- Deleterious to your credit ratings.
- Debt never fully cleared.
- Creditors may deny settlement.
- Debt keeps building while settlement is being negotiated.
- Calls from collectors probably won’t get better.
- Tax disadvantages.
You’ll want to understand that credit card providers can take legal action against an individual to help them pursue a debt. There is a bit more potential for being sued when it comes to debt settlement in Palm Harbor, FL. Why is that? Mainly because you quit paying them each month.
A a debt settlement attorney in Palm Harbor, FL, doesn’t have the power to stop a creditor from suing you.
Minimum Debt Reduction Criteria in Palm Harbor, FL
To meet the criteria for a debt settlement program in Palm Harbor, FL, you ordinarily need to have:
- $10,000 in Debt
- $300 Per Month to Spend
There are 79,013 people in Palm Harbor, and 7,827 owe credit card debts in excess of $10,000.
Individuals who have debt to income ratios of 50% or more are excellent candidates for debt relief of some kind, whether it be settlement or consolidation.
Say you make $3,354 on a monthly basis, which is the Palm Harbor average. If you spend under $1,207 for credit cards, loans, and rent, you have a recommended debt load of 36%). If you spend $1,241 to $1,409 (37-42%), you may want to cut back how much you’re spending. If are having to spend $1,442 to $1,677 (43-50%), you are about to experience critical debt issues, and if you spend more than $1,711, you are in a bad way and ought to talk with a debt specialist.
Consolidating vs Negotiating Your Debt: Palm Harbor, FL
Settling your debts and consolidating them are two distinct solutions.
While debt settlement results in a reduction of what’s owed, management and consolidation do not. These methods of relieving debt – for example debt consolidation, management, and counseling – have much less of a negative impact on your credit scores in the long term, but they are long-term alternatives that require paying back all of your debt.
Go here for additional information about debt consolidation in Palm Harbor, FL.
How Much Will Debt Settlement Cost?
No debt settlement firms in Palm Harbor are permitted to bill you before they settle your debts. Any licensed debt settlement company in Palm Harbor, FL, will only charge a fee once each account is paid off. Most debt relief options ordinarily involve regular payments.
Many settlement firms charge you a percentage of the balance you want reduced, often about 15%. This fee is generally paid over 1-2 years.
Palm Harbor, FL Debt Settlement Businesses
- Florida Debt Settlement Company? Contact us!