Debt Settlement: Easton (PA)

PA Debt Relief

Debt Settlement Programs Easton PA

A debt settlement firm in Easton, PA, should be able to help you significantly reduce your debts.

We can help you find a debt settlement firm in Easton – now – that will:

  • Bargain with your creditors.
  • Get you an official contract for debt elimination.
  • Set up a plan to pay off what you owe in 2-4 years.

Best of all: there are absolutely no obligations, and zero costs.

Debt settlement, is it the right choice? Learn more right now!

Debt Settlement in Easton PA

For legal reasons, Easton debt settlement agencies have to provide you with the following information before getting started, for instance how much the costs will be for their services, how long before they get in touch with your creditors, and how much impact debt settlement will have on your credit ratings. Be sure you find out whether your Easton, PA debt settlement specialist is trustworthy by researching the following:

  1. How many years have they been in business?
  2. How many negotiations have they handled?
  3. How much are their fees?
  4. What is their BBB rating?
  5. How effective have they been?
  6. Are they certified in PA?

No Easton, PA debt settlement service is allowed to charge fees upfront!

Debt settlement programs offer several well-known advantages:

  • Only Pay 40-80% of Original Amount Owed
  • Significant Interest Savings
  • Short 24-36 Month Timeline
  • Adjustable Payment Structure
  • Alternative to Bankruptcy

However, it is only good specific types of borrowers.

You really need to speak with a debt relief consultant to see if debt settlement is the right choice.

Debt Settlement Easton PA

So as to get a better settlement, your debt settlement agency will probably ask you to stop trying to repay your credit card companies. Your money will be deposited into a checking account. When there’s enough money to pay the arranged amount, plus your debt settlement firm’s fee, your card balances will be paid back. For the time being, your FICO rating gets lower and lower. Keep in mind, declaring yourself bankrupt would ruin your credit ratings as well. According to fairly new FTC guidelines, your savings, or “special purpose” account should be in your control, regardless of the outcome of your debt settlement. It also must be FDIC-insured.

Debt Settlement and Lawsuits

You’ll want to understand that banking institutions can sue you so as to collect a debt. There is a heightened chance of a lawsuit considering that you quit paying them.

PA Statute of Limitations on Debt

Card issuers have only so long to go to court for unsecured debt. According to PA’s statute 42 Pa. C.S. 5525(a), this is 4 years.

If you owe $10,000 of debt, aren’t able to repay what you owe, and would rather be debt free than have good credit, debt settlement may be sensible alternative to bankruptcy.

There are 69,774 people who live in Easton, and it’s thought that 6,912 owe credit card balances in excess of $10,000.

What’s Your Debt to Income Ratio?

Debt Settlement Easton PA

If you’ve got a debt-to-income (DTI) ratio of 50% or more, then debt settlement or consolidation is highly recommended.

Let’s say you get paid $2,622 a month, which is the Easton average. If have to pay under $944 for credit cards, rent/mortgage, and loans, this is a recommended level of debt (36%). If you are spending $970-$1,101, which is 37-42%, you might want to scale back how much you’re spending. If are spending $1,127 to $1,311 (43-50%), you are on the brink of serious debt issues. If you spend more than $1,337, you’re in serious debt and really should seek professional debt advice as soon as possible.

Managing vs Negotiating Your Debt: Easton (PA)

Debt Settlement Companies Easton PA

Credit card settlement and consolidation each have their own advantages. These are all types of debt relief. Settlement is special in that it leads to a proper decrease in the balance due.

You continue to repay your credit card issuers each and every month as part of a debt management plan; thus your credit rating isn’t impacted nearly as badly as it is after debt negotiations, during which you stop repaying your creditors. On the other hand, debt management generally takes longer and at the end you’re going to repay your debt in full. For additional details, go here: credit counseling in Easton.

Fee Structures for Debt Settlement

Being the most extreme debt relief option available, debt settlement is generally not cheap. Most settlement companies will charge you approximately 20 percent of the balance due – that’s significant! This service charge is normally paid over 12-24 months.

  • P & N Holding, , 18018
  • CCCS (A Division of MMI), 306 Spring Garden St, 18042