Debt Consolidation: Buffalo Residents Have Options Available

Buffalo, New York is a major gateway for commerce and travel at the Canada–United States border and forms part of the bi-national Buffalo Niagara Region.

The city’s growth during the 19th and 20th centuries was mainly due to the fresh water and trade route that Lake Erie, the Erie Canal, and the railroads provided. The main industries that drove Buffalo’s economy during the 20th century were grain, steel, and auto manufacturing. But when these industries declined in the second half of the 20th century, so did the population.

Since then, like many U.S. cities, Buffalo’s economy now relies on the service industries, specifically higher education, healthcare, and research. The State of New York employs more than 15,000 Buffalo residents. Other major employers are the U.S. government, Kaleida Health, the University of Buffalo, and General Motors to name a few.

Perhaps you’re employed by one of the aforementioned industries? Or you may not have a job at the moment. (The city has one of the highest percentages of residents below the poverty line, after all.) Either way, you may have garnered a fair bit of debt trying to keep up with bills and other living expenses. If this is the case–good news–you don’t have to stay in debt forever. There are debt relief solutions out there. If you speak with an expert, you’ll discover that there are several different solutions for different situations.

Whether it’s debt settlement, debt counseling or debt consolidation, Buffalo residents can find help today. Call now for your free debt evaluation to find the solution that best fits your circumstances: 800-910-0065

Which Debt Relief Solution Is Right For You?

Here’s an overview of debt solutions that may be available to you in Buffalo. There’s no one-size-fits-all solution, but there are options that might fit your debt situation better than others.

Debt Consolidation

If you are making payments to multiple creditors every month and getting overwhelmed, you may be a good candidate for debt consolidation. One method of debt consolidation is to consolidate all your debts and pay them off with a debt consolidation loan or a personal loan. Buffalo residents with more than $10,000 in debt might be good candidates for debt consolidation.

While making one payment for your debts may be more convenient, consider how much it will cost you overall. You might be making lower monthly payments, but if you have higher interest rates and it takes longer to pay off your debt, you could be paying much more over the course of the loan. Be aware that some loans require collateral to get lower rates, which means the loan is secured by an asset you own, like your house or your car. When you agree to the terms of these loans, you are agreeing to forfeit the asset to the lender if you fail to repay the loan.

Credit Counseling

Buffalo residents should research credit counseling services in the area for a comprehensive list of services offered by local credit counseling agencies. A credit counselor can set up an affordable payment plan and offer lower interest rates that have been pre-negotiated with your creditors. Through credit counseling, you can also enroll, for a fee, in a debt management plan (DMP), which is a way to pay down your debt through monthly payments to your credit counseling agency, which will then distribute these funds to your creditors. While this might make your monthly payments less stressful, it does not necessarily lower your overall outstanding debt.

Debt Settlement

If you have a lot of debt and are looking to negotiate a smaller debt load, debt settlement could be right for you. With debt settlement, you work with a company to resolve your debt for less. The company negotiates with your creditors on your behalf while you build up funds in a program account you control. When the debt settlement company reaches an agreement with one of your creditors, you can settle the debt with the funds from your account. The process continues with all your enrolled debts until they have been resolved.

It can be overwhelming to decide what the solution is for your situation. That’s why it’s important to call today for a free debt evaluation — find the right solution for you: 800-910-0065

Request a free debt evaluation to find out how we could help you:

• Resolve your debt faster
• Significantly reduce what you owe
• Make one low monthly program payment

Solve Your Debt Problem

Debt Consolidation in Buffalo

Buffalo, New York is a major gateway for commerce and travel at the Canada–United States border and forms part of the bi-national Buffalo Niagara Region.

The city’s growth during the 19th and 20th centuries was mainly due to the fresh water and trade route that Lake Erie, the Erie Canal, and the railroads provided. The main industries that drove Buffalo’s economy during the 20th century were grain, steel, and auto manufacturing. But when these industries declined in the second half of the 20th century, so did the population.

Since then, like many U.S. cities, Buffalo’s economy now relies on the service industries, specifically higher education, healthcare, and research. The State of New York employs more than 15,000 Buffalo residents. Other major employers are the U.S. government, Kaleida Health, the University of Buffalo, and General Motors to name a few.

Perhaps you’re employed by one of the afore-mentioned industries? Or you may not have a job at the moment. (The city has one of the highest percentages of residents below the poverty line, after all.) Either way, you may have garnered a fair bit of debt trying to keep up with bills and other living expenses. If this is the case–good news–you don’t have to stay in debt forever. There are debt relief solutions out there. If you speak with an expert, you’ll discover that there are several different solutions for different situations.

Whether it’s debt settlement, debt counseling or debt consolidation, Buffalo residents can find help today. Call now for your free debt evaluation to find the solution that best fits your circumstances. There’s more than one way out of debt. Start your journey to financial freedom today: 800-910-0065