According to voting records, the town of Lincoln, Massachusetts is one of the wealthiest in the country. The median household income is $120,844, and the median family income is a whopping $202,704. But gender-wise there’s definitely some inequality as male wage earners earn more than double what their female counterparts earn on average. Wealthy town aside, if you’re currently holding a significant amount of debt, you’ll know that it can happen to anyone, regardless of sex or income level. It can happen to the best of us, despite our good intentions.
Luckily, there are steps you can take to find a solution to your financial problem. Whether it’s debt settlement, debt counseling or debt consolidation, Lincolnites can find help today. Call 800-910-0065 now to get your free debt evaluation to find the solution that best fits your circumstances.
Which Debt Solution Is Right For Your Situation?
There are a variety of debt management strategies available to those burdened by massive debt. There’s no one-size-fits-all solution, but there are options that might fit your debt situation better than others. Here’s an overview of what may be available to you in Lincoln.
For Lincoln residents struggling with over $10,000 in unsecured debt, debt consolidation could be a good choice. It involves getting a consolidation loan to cover your debts which may simplify the debt repayment process. Instead of paying several bills to several creditors, you make a single payment to a debt consolidation company or bank each month. If you can secure a debt consolidation loan at a reasonable interest rate, you could make debt resolution less stressful.
A debt counselor may help you plan a budget to suit your financial goals. However, be aware that debt counselors also often lead you to other services, such as debt consolidation if you have a massive amount of debt.
With debt resolution, you work with a company to reduce and resolve debt. The company negotiates with your creditors on your behalf while you save into a program account you control. When the debt settlement company reaches an agreement with one of your creditors, you can resolve the debt using the funds you saved. The process is ideal if you have a massive amount of debt – most companies require at least $10,000 in unsecured debt to qualify for their program.
Lincoln residents can also look into other debt options like minimum payment plans, though this might may be less favorable. Sticking with minimum payments will most likely lead to you paying more over time thanks to compounding interest. That’s why it’s important to call 800-910-0065 today for a free debt evaluation to see the pros and cons of all your options.
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
Debt Consolidation in Lincoln
Another statistic that’s important to know if you call Lincoln home is one related to the population. Many of its residents have left the town over the years. The 2000 census had the Lincoln population at 8,065. Fast forward sixteen years and that number has shrunk by 1,280. One theory for the decrease is that Hanscom Airforce Base (which is within town limits) has fewer people employed there nowadays. Another possible reason is that the cost of buying a home in this wealthy town is too high for most young families.
Whether you’re fortunate enough to own a home in Lincoln or in one of the surrounding towns, if you have debt, it’s time to look into clearing it.
The good news is that as possible solution is just a phone call away. Speak with a debt specialist and find out how you can start your journey toward financial freedom, whether it’s resolution, counseling or debt consolidation. Call us today at 800-910-0065 .