Unmanageable credit card debt has, unfortunately, become a fact of life for countless residents of Missouri and across America that has caused many to seek solutions like debt consolidation. Aside from purchasing big-ticket items like a home or a new car with credit, many Americans have accumulated debts as a result of using credit cards to pay for other things like vacations, furniture, or the latest electronic gadget. If you have also fallen into your own debt trap and are struggling with debt, debt relief may be able to help. These days, there are a variety of debt relief options that can assist you in paying off credit card debts as well as unsecured debts like medical bills, utilities, or retail store charges.
Depending on what and how much you owe, your debt relief options can include debt consolidation through credit counseling, debt settlement, or bankruptcy. Consolidating debts allows many consumers to combine multiple debts into a single, more manageable, and more predictable repayment plan made to a credit counseling agency. In comparison, when you settle debts, you are hoping to negotiate with creditors to get them to take significantly less than what you owe.
Both options have increasingly become popular options to filing bankruptcy, which can give consumers a new lease on life, but the consequences to one's credit are often very damaging and longer lasting. Find out if you qualify for debt relief and how much you can save by answering a few, simple questions. It only takes minutes to complete and you will get a free debt relief analysis and savings estimate. Begin now.
Paying down debts spread across multiple credit cards can seem like a daunting task, requiring a conscientious consumer who can keep track of due dates, interest rates, and other fees. That's why for many consumers struggling with multiple credit card and unsecured debts, debt consolidation has become a popular relief option. As noted earlier, debt consolidation allows you to combine your debts into a single, easier-to-manage, and more structured payment plan made to a credit counseling agency.
Consumers who enroll in a debt consolidation program will have the assistance of credit or debt counselors who, after reviewing their debts and financial situation, will determine how much money they can reasonably allocate to paying off their debts. Credit counselors typically develop a strategy to help you pay off your debts; this involves asking credit card companies to reduce interest rates or waive their late fees and other penalties. The aim is to simplify the payment process, consolidate your debts, and put you on a repayment plan that is more structured, more lenient, and at a pace that you can afford.
Financial Assistance from the State
While the state of Missouri does not offer grants or programs designed for consumer debts, it does offer a variety of programs for those who are low-income or need financial assistance. For instance, the Temporary Assistance Program provides assistance to needy families with children. The state also has agencies that can help with housing concerns and help you avoid foreclosure, if you are at risk or struggling with monthly mortgage payments.
Do You Qualify for Debt Relief?
As mentioned earlier, the goal of debt consolidation through credit counseling is to provide you with a single, more structured, and more lenient repayment plan that can, ideally, help you direct more of your payment into paying off the principal of your debts versus just the interest. The bottom line is, if you are struggling with credit card debts, debt relief can help. Delaying will not solve your problem, so the smart move is to explore your available debt relief options today and find out how much you can save. Start now by getting your free debt relief analysis and savings estimate.