You might be able to negotiate a debt settlement for thousands less than you ever imagined, and steer clear of bankruptcy as well. Our mission is to connect you with a debt settlement agency in Pembroke Pines, FL considering what you owe and where you live, as well as a number of other factors.
How much could debt settlement save you? Learn today!
According to the FTC, Pembroke Pines debt settlement companies have to give you some details before enrolling, for example how much the costs will be for their assistance, how much time their program normally takes, and what types of risk are involved.
Make sure your Pembroke Pines debt settlement specialist is trustworthy. Check how many years they’ve been settling debt, how much debt they have settled, what their success rate is, what their fees are, and be certain they are registered settle credit card and payday loan debts in Florida.
A debt settlement program offers a few highly-touted advantages:
- Debt Reduced by 20-60%
- Significant Savings in Interest
- Brief 3-5 Year Schedule
- Convenient Payment Structure
- Alternative to Bankruptcy
However, it’s only a good idea for some clients. Is debt settlement right for you? Find out right now!
The programs supplied by debt settlement firms in Pembroke Pines, FL, aren’t without their negatives:
- Wrecks your credit scores.
- Debt never fully paid back.
- Credit card providers may deny settlement.
- Debt builds while settlement is being discussed.
- Debt collector calls may worsen.
- Forgiven debt is usually taxed.
- Takes 180 days before settlement is approved
Remember, credit card companies can file a suit against a borrower to collect a debt. With debt settlement, the likelihood of being sued is greater. How come? Simply because you quit paying them every month.
Statute of Limitations for Credit Card Debt: Florida
Card issuers have a limited period of time to file a suit for unsecured debt. In Florida, this is 5 years.
If you owe $10,000 in debt, aren’t able to make your payments, and would rather be free from debt than have a good credit score, debt settlement may be the right idea.
If you meet these criteria, don’t be discouraged – 36,902 of Pembroke Pines’s 372,524 residents owe at least this much debt.
Your debt consultants will want to know your debt to income ratio.
Say you make $3,517 each month, Pembroke Pines’s average income. If are forking out no more than $1,266 on credit cards, rent, and loans, you have an optimal level of debt (36%). If you are having to pay $1,301-$1,477, which is 37-42%, you really should reduce your spending. If are having to spend $1,512 to $1,759 (43-50%), you are about to experience significant debt troubles. If are forking over more than $1,794, you are in serious debt and should talk to a debt professional.
Credit card settlement and consolidation each has its own good and bad points. Debt settlement leads to a reduction in the amount you owe, while consolidation or management does not.
You repay your lenders on a monthly basis as part of a debt management plan. So your credit rating is not impacted nearly as dramatically as it is after a debt settlement. Having said that, consumer credit counseling generally takes longer and eventually you’re going to pay your creditors in full.
Read this article to learn more about debt consolidation in Pembroke Pines, FL.
Debt Settlement Pricing in Pembroke Pines, FL
Whereas debt management programs have basic fees each month, debt settlement charges are typically assessed when each credit card is paid off.
For the most part, settlement firms charge a percentage of the debt you want settled, often as much as 15 percent. This fee will often be spread out over 12-24 months.
Pembroke Pines, FL Debt Settlement Attorneys
What about debt settlement attorneysWorking with a lawyer might be pricier than dealing with a debt settlement company. While the majority of debt settlement agencies don’t ask for a bill every month, many lawyers do. Which would be fine, but they get paid a substantial share of debt reduction amount: 30 percent. Normally, this winds up being more costly than a debt settlement service.
Don’t forget that your attorney can’t offer legal counsel if they’re not a local Pembroke Pines debt settlement attorney, or they are licensed in Florida.
Pembroke Pines, FL Debt Settlement Companies
- Florida Debt Settlement Company? Contact us!