A highly trained High Point debt negotiator will work hard to settle your credit card debt for less than what you owe.
We can connect you to a debt settlement agency in High Point – right now – that’s right for you. What’s even better: there are no commitments, and zero fees associated with this service.
Debt settlement, is it the right choice? Learn more right now!
Locating a Debt Settlement Company: High Point, NC
For legal reasons, High Point debt settlement agents are required to disclose certain specifics before signing up. They spell out their costs, their savings requirements, and the hazards you will be up against.
Be sure you find out if your High Point debt settlement firm is trustworthy by finding out the following:
- Qualifications: Major associations include TASC and IAPDA.
- Fee Structure: Check that the rates they demand are sensible.
- Consumer Reviews: Search for favorable responses from previous clients.
No High Point, NC debt negotiation companies are supposed to charge fees before getting started!
High Point (NC) Debt Settlement Considerations
Debt settlement is the only debt method that actually brings about a decrease in principal. But it has more negatives than other options.
We estimate that 10,007 of High Point’s 101,022 residents have unsecured debt in excess of $10,000. Discover how much High Point debt settlement could help you save.
The solutions supplied by debt settlement firms in High Point, NC, do have their negatives. For starters, debt settlement can be really bad for your credit score, as your debt won’t be totally paid off. Given that debt consolidation entails paying off your creditors every month, collector calls typically grow less frequent. Not so with debt settlement. The first settlement won’t be agreed upon for six months. During that time, your debt will continue to grow. Unpaid debts can be taxed.
In order to be qualified for a credit card settlement program in High Point, NC, you usually need to have:
- $10,000 in Debt
- $300 Each Month to Spend
There are 101,022 people in High Point, and we estimate that 10,007 carry credit card balances in excess of $10,000.
Calculating Your Debt-to-Income Ratio
Consumers who have debt to income ratios of 50% or more are perfect candidates for debt relief of some kind, whether it’s settlement or consolidation.
Let’s imagine you make $2,125 each month, the High Point average. If have to pay no more than $765 for credit cards, loans, and rent, you’ve got an optimal debt load (36%). If you are having to spend $786 to $893 (37-42%), you need to reduce your expenses. If you spend $914 to $1,063, which is 43-50%, you are about to experience severe debt problems, and if are shelling out more than $1,084, you’re in severe debt and should seek out expert debt help.
Consolidating vs Negotiating Your Debt: High Point (NC)
Whether you choose to settle or consolidate your debt, you should profit from a consolidated monthly payment. But the commonalities end there.
While debt settlement results in reduced debt, consolidation doesn’t.
You repay your creditors each month under credit counseling, so your credit rating isn’t impacted nearly as drastically as it can be after debt negotiations. Having said that, consumer credit counseling generally takes longer and eventually you’re going to repay your debt in full. For more information, click here: debt consolidation in High Point, NC.
Debt Settlement Rates in High Point, NC
No debt relief agencies in High Point are allowed to make you pay before they settle your debts. Any good debt settlement service in High Point, NC, will only bill you once each account is paid off. Other debt relief solutions generally entail flat fees.
As a rule, settlement agencies will charge you roughly 15% of the debt owed – this is significant! Typically they have been forbidden legally from assessing a fee until a balance has been repaid.
Debt Settlement Firms: High Point (NC)
- Consumer Credit Counseling Service, 1401 Long St, 27262