Have you got more than $10K in credit card debt? If that’s the case, contacting a qualified Frankfort, KY debt consolidation firm could be your best option.
Some solutions involve a debt consolidation loan, while some do not. Either way, you’ll only be responsible for one payment amount. A debt consolidation expert can determine which strategy is best for your needs.
Frankfort consumers typically choose to consolidate their credit card and/or payday loan debts into a debt management plan. Debt management plans make it easier to pay off your debt fully with a single monthly payment, as well as less expensive interest levels, monthly payments, and penalties. Ordinarily your card companies or payday lenders begins presenting these perks after you send them three successive payments.
Furthermore, debt management plans are one of the cheapest ways of consolidating debt in Frankfort, KY. Enrolling ought to cost around $70, and fees each month $25-40.
Frankfort, KY Debt Consolidation Loans
As you probably know, debt consolidation often involves applying for a loan to repay your credit lines with a significantly better rate of interest. The advantages of debt consolidation loans in Frankfort, KY, resemble those of debt management plans, including consolidated monthly payments, hardly any calls from debt collectors, and reduced loan rates.
Keep in mind, you will need good credit to get a loan this way. Also, it will not allow you to repay your debts any sooner. In fact, it may take longer. Wondering if a debt consolidation loan is a good idea?
Consolidating Payday Loans in Frankfort (KY)
So many Frankfort consumers owe payday loans from an array of loan companies. About 2,518 residents of Frankfort get cash advances on a regular basis, and around 1,914 of these borrowers wind up getting another payday loan. What percentage is that? We’re talking upwards of 75%!
Are you late on at least two of these loans? You’re alright, we can help you find Frankfort KY payday loan consolidation firms who can:
- Bring down inflated cash advance APR.
- Take payday lender phone calls.
- Combine a variety of payday loans.
- Create a budget for being free from payday debt.
Eager to break free from payday debt?
In an ideal world, your monthly debts ought to take up only a third of your wages. These debts incorporate credit card bills, loans, and rent or home loan payments. If you earn $372 each month, about average average for someone who lives in Frankfort, then, in a perfect world, you would spend roughly $134 a month. Lamentably, many Frankfort residents have considerable debt, recognized by debt-to-income ratios (DTI) of 50% or higher. That means they are having to spend more than $186 a month!
Do you have more than $10K in debt? If so, you need to talk to a debt consolidation specialist in your area.
Debt Consolidation Scams: Frankfort (KY)
According to FTC regulations, your Frankfort, KY debt consolidation consultant needs to fully explain:
- All pricing and fees.
- How long before they get a hold of each creditor.
- How much you have to save before they’ll speak with your creditors.
- How your credit score will be impacted.
Don’t forget to research any Frankfort debt consolidation company before signing up. For additional information, check out the FTC guides in our links section.
Payday Loan and Credit Card Debt Consolidation Providers: Frankfort (KY)
- Consumer Credit Counseling Service Of Central Kentucky, 100 Moore Dr, 40601
- CCCS of Central Kentucky – A Division of Apprisen Financial Advocates, 649 Charity Ct, Ste 15, 40601
- Consumer Credit Counseling, , 40003