When you want to get out of debt while staying away from bankruptcy, we can help.
Let us match you with a debt settlement expert in West Palm Beach, FL who will work to reduce your credit card debt. Best of all: there are no obligations, and it’s free.
For legal reasons, West Palm Beach debt settlement agents have to provide you with the following information before signing up. They divulge their rates, their timeline, and the risks you will be up against. You should make sure your West Palm Beach debt settlement firm is reputable by verifying how many years they have been in operation, how much debt they’ve settled, what their success rate is, how much they cost, and be certain they’re qualified to conduct business in the state of Florida.
Though debt settlement can result in drastic debt reduction, considering the adverse impact it has on your FICO scores, it is considered an alternative to bankruptcy.
With a debt settlement, you just cease paying your creditors. Rather, you set aside funds in a checking account until you’ve got enough to pay the amount arranged by your West Palm Beach debt settlement firm. Regrettably, your credit score will get lower and lower. And also, the debt collector calls may not taper off. In accordance with fairly recent FTC policies, your savings, or “special purpose” account has to:
- Be FDIC-insured.
- Provide you with full withdrawals.
- Not charge you for withdrawing funds.
Can You Be Sued?
You’ll want to know that credit card companies do have the right to file a lawsuit against you to help them go after a debt. There is a bit more risk of going to court when it comes to debt settlement in West Palm Beach, FL. How come? Mainly because you stop paying them each and every month.
Debt Settlement Prerequisites: West Palm Beach (FL)
If you are carrying $10,000 in debt, are unable to pay your bills, and would rather be free from debt than have favorable credit, credit card debt settlement might be the right option.
If you fall into this category, you are not alone – 40,981 West Palm Beach residents have at least this much debt.
Income vs Debt: West Palm Beach (FL)
People with debt to income ratios of 50% or higher are perfect candidates for debt relief in some form or another, either settlement or consolidation. The best ratio? 30-36%. In West Palm Beach, people make $34,234 per year, or $2,853 per month. That means the average West Palm Beach resident should pay approximately $1,056 in credit card, mortgage/rent, and loan installments. Sadly, many West Palm Beach residents are paying over $1,455 each month. Without a doubt, these people should explore debt relief of some type or another.
Consolidating vs Negotiating Your Debt: West Palm Beach (FL)
Settling your debt and managing it have one thing in common: a single payment amount, but the commonalities end there.
Whereas debt settlement leads to a reduction in debt, consolidation won’t.
Some methods of relieving debt – for instance consolidation, management, and counseling – are much better for your credit ratings in the long term, but they are extended solutions that require you to pay back all of your debt. For more information, visit here: debt consolidation in West Palm Beach, FL.
How Debt Negotiation Companies Are Compensated
Whereas debt management programs have regular fees each month, debt settlement fees are usually charged once each creditor is paid off.
Generally, settlement companies charge you a percentage of the amount you want settled, often as much as 15%. This service charge will normally be spread out over a time period of 1-2 years.
- Credit Card Management Inc, 2100 45th St, 33407
- Credit Management Services Inc, 2260 Palm Beach Lakes Blvd, 33409
- Kimberly Credit, 2540 Metrocentre Blvd, 33407
- Real Endeavours, 222 Lakeview Ave, #160, 33401
- Leitner, Charles President – Son Shine Financial Services Incorporated, 2695 N Military Trail #24, 33417
- Duhl, Steven PA – Steven R Duhl, PA, 1035 N State Road 7, 33411
- Discount Debt Solutions Incorporated, 1645 Palm Beach Lakes Blvd, 33401
- Consumer Credit Counseling Service, 700 S Dixie Hwy, #103, 33401
- Serenity Debt Solutions, 801 Northpoint Pky, #8, 33407
- AAA Debt Counseling, 711 Village Blvd, #101, 33409
- Martin, Jason President – Jlm Financial Group, 4152 W Blue Heron Blvd, 33404
- Credit Card Management Service, 4611 Okeechobee Blvd, #114, 33417
- First Choice Credit Management, 1665 Palm Beach Lakes Blvd, 33401
- Consumer Credit Counseling, , 33462
- Robert S Winess PA, 224 Datura St, #602, 33401
- Credit Card Debts & IRS Tax Debt Relief & Bailout, 801 Northpoint Pky, 33407
- MacKenzy Credit Group, 801 Northpoint Pky, #67, 33407