Debt Consolidation for Greensboro Residents
While the overall cost of living in Greensboro (88) is lower than the rest of North Carolina (96) and the national average (100), residents there struggle with low incomes
and high debt. The median household income is $47,321 and the per capita income is $27,853. The average amount of credit card debt carried by the city’s residents is $7,225, which is significantly higher than the US average of $5,700.
Cost of Living Statistics
- Grocery: 93.5
- Health: 109
- Housing: 72
- Median Home Cost: $134,400
- Utilities: 96
- Transportation: 86
- Miscellaneous: 100
Greensboro residents are not the only people dealing with debt. Millions of Americans are burdened by massive debt so there’s no need to feel like you’re the only consumer in the country in this situation. It can happen to anyone. All it takes is to have one unplanned for expense like an emergency dental procedure or car breakdown and your carefully orchestrated financial plan can go out the window
If you don’t have adequate savings, you charge the expense on your credit card but don’t manage to pay off the entire balance at month end. From there it snowballs and before you know it, you’ve amassed a sizeable debt and aren’t sure how to reduce it
The good news is that there are solutions. Freedom Debt Relief offers free evaluations. Call 800-910-0065 to speak with one of our Certified Debt Consultants to find out how you can start your journey toward financial freedom.
Debt Consolidation in Greensboro
A debt consolidation loan could make it easier to repay your debt by letting you combine all your bills, which you would pay off with the loan. Then all you have to focus on is one payment per month to the loan company
Most consolidation loans require you to put up collateral like a high-value asset such as your home or a car. A secured loan can help you get a lower interest rate, which means you pay less over the course of the loan, but if you fall behind or can’t make your payments, you run the risk of losing your asset
The other option is to get an unsecured loan. These may be harder to come by and usually carry much higher interest rates because the lending company doesn’t have any guarantee that you’ll repay the entire loan
When Is the Best Time for a Loan?
If a debt consolidation loan makes sense for your unique situation, and you’ve been able to check all the boxes,there’s no point in waiting. If you’re still stacking up debt and paying compound interest and late fees, the sooner you start down this road, the sooner you’ll be debt free
Our Certified Debt Consultants are available to advise you on the various types of debt-clearing strategies. Call Freedom Debt Relief at 800-910-0065 today for a free evaluation and find out if debt consolidation is the smart solution for you.
End Your Debt
Find out how our program could help.
- One low monthly program deposit
- Settlements for less than owed
- Debt could be resolved in 24-48 months