Of the 11,137 residents of Russellville who have credit cards, 1,225 can only afford to make their minimum monthly payments. Don’t panic if that’s you.. Debt consolidation might be the answer.
For a free debt consolidation assessment, simply submit this convenient form. It’s fast, easy, and totally free.
The most common form of debt consolidation in Russellville, KY, involves managing debt through a debt management plan.
A DMP offers numerous benefits:
- Only One Payment
- Cheaper Annual Percentage Rates
- Forgiven Penalty Fees
Also, these kinds of plans are normally quite very affordable:
- Sign up: no more than $75
- Monthly Fee: $25 to 35
Debt Consolidation Loans in Russellville (KY)
When you get a debt consolidation loan in Russellville, KY, the loan is used to pay your existing credit cards. You still have to pay back the loan, but the rate of interest might be significantly lower.
The benefits of debt consolidation loans in Russellville, KY, are very much like those of a debt management program:
- A Lot Fewer Calls from Collectors
- More Affordable Rates
- Consolidated Monthly Bills
- Fewer Credit Score Concerns
It goes without saying, you will need excellent credit to get this type of loan. Also, it will not allow you to pay off your debt any sooner. In fact, it may take longer.
Talk to a debt consolidation expert in Russellville, KY, to check which option is right for you.
Consolidating Payday Loans: Russellville, KY
Thanks to the downturn, many Kentucky borrowers have been taking out payday loans. Of the 14,616 people in Russellville, around 760 apply for and are given at least one payday loan a year. Alas, around 578 of these borrowers have at least two different payday loans. What percentage is that? It’s upwards of 3 out of every 4 borrowers! Fortunately, we work with payday loan consolidation services in Russellville, KY, who will help you consolidate your Russellville payday loans into one single payment amount, take phone calls from collectors, and minimize the outrageous interest percentage on payday loans.
Want to read more or learn how to submit a grievance against a cash advance loan company in Russellville? Go here cash advance laws in KY.
Debt consolidation companies in Russellville, KY will want to know how much debt you owe that’s non-secured, meaning it is not protected by any asset. The most common sources of debt are credit card bills, payday loans, rent/mortgage payments, physicians’ fees, and store cards. Ideally, about 33% of your income will be allocated toward repaying what you owe. Such debts incorporate credit cards, automobile/payday loans, and rent or mortgage repayments. If you earn $2,720 per month, the average for someone who lives in Russellville, then, ideally, you would spend roughly $1,006 each month. Lamentably, many Russellville residents are in considerable debt, defined by debt-to-income ratios (DTI) of more than 50%. They’re spending more than $1,360 monthly!
Do you have more than $10,000 in unsecured debt? If that’s the case, you need to speak to a debt consolidation professional near you.
Consolidation Firms in Russellville (KY)
- KY Credit Counseling Service? Contact us!