Does it feel as if you’re all on your own, trying to get out of debt? You’re not. The fact is, we have been able to conclude that 1,995 of Pikeville’s 23,800 consumers need debt relief. Debt consolidation may help.
For starters, you can just call us or complete our contact form. We can match you with a debt consolidation agency taking into account your local area, the amount you owe, and your individual priorities.
There are as many as 1,995 people in Pikeville who could use debt consolidation of some type, and most would be best served by a debt management plan. Debt management plans, ordinarily associated with a credit counseling firm, will allow you to pay 100% of what you owe with a single monthly payment. The benefits are tremendous: lower interest rates, installment payments, and service fees. Almost always your card issuers or lenders begin providing these benefits following 3 months of on-time payments.
If you’re searching for a debt consolidation program in Pikeville, KY, this is among the most economical options, just $25-35 every month.
Pikeville, KY Debt Consolidation Loans
A debt consolidation loan can reduce your financial outlay in the long run simply because loans from a regular loan company typically come with lower interest rates than credit cards.
The advantages of debt consolidation loans in Pikeville, KY, are similar to those of debt management programs, including combined monthly payments, no more calls from collections agencies, and cheaper loan rates. When you go with a home equity loan, there may be positive tax implications. On the other hand, if you go into default on such a loan, the mortgage company could foreclose on your house. Is a debt consolidation loan a good idea?
Payday Loan Consolidation: Pikeville, KY
If your payday loan debt has been mounting, you’re not alone. There are 23,800 residents of Pikeville, and approximately 1,238 obtain one or more cash advance per year. Lamentably, something like 941 of these consumers are borrowing over and over again on the same principal. Can you believe it? It’s over 3 out of every 4 people who get one of these loans! On the plus side, there are Pikeville KY payday loan consolidation agencies that will:
- Ease inflated payday loan rates of interest.
- Manage collect agency phone calls.
- Combine several payday loans.
- Set up a budget for getting out of payday debt.
Do you need to know more about payday lending laws and regulations in Kentucky? For details, visit this link.
Preferably, around 33% of your income will be dedicated to paying down what you owe. Such debts include both secured and unsecured debts:
- Credit Card Payments
- Any Loans
- Rent or Home Loans
For example, let’s say you earn $1,059 each month, which is the average for someone who lives in Pikeville, then, in a perfect world, you would spend no more than $392 a month. Lamentably, many Pikeville residents have major debt, classified as debt-to-income ratios of more than 50%. They’re shelling out more than $530 monthly!
If your debt to income ratio is greater than 50%, it is high time to consult a debt consolidation specialist near you.
Debt Consolidation Scams in Pikeville, KY
You should not sign up with any Pikeville KY debt consolidation firms that charge upfront dues, don’t give important information, can’t disclose savings required for consolidation to begin, or ask you to open a savings account from which you cannot withdraw money without penalty.
Avoid any debt consolidation companys which have a history of unethical conduct. To learn more, take a look at the section of FTC.gov entitled In Debt?.
Debt Consolidation Companies: Pikeville (KY)
- Consumer Credit Counseling Service of Central Kentucky, 131 Main St, 41501