Debt Consolidation: Springfield Residents Have Options Available

There more than a few “Springfields” in the United States. But there is only one Springfield, Missouri. Home of Fantastic Caverns, Dickerson Park Zoo, and the Discovery Center, Springfield offers its citizens plenty of excitement and joy.

Unfortunately, that joy is quickly diminished if you are struggling with excessive debt.

Debt Consolidation for Springfield Residents

While Springfield has a reasonably healthy economy based on healthcare, retail, manufacturing and tourism, that doesn’t necessarily mean your pocketbook will be happy and stable too. Individuals can struggle to make ends meet, especially when they are plagued with multiple debts from multiple creditors.

This is where debt consolidation comes in. Debt consolidation assists Springfield residents by centralizing multiple debts into a single, recurring payment. This makes paying down your debt more manageable. You might even be able to negotiate for a better interest rate.

However, some consolidation loans require collateral such as a home, car or other high-value asset. So, it’s imperative that you do no fall behind in your payments. Also note that debt consolidation could have a negative effect on your credit. In summation, debt consolidation is not for everyone. But for those who need it, it can be a vital tool.

Other Debt Relief Options Available to You

So, what can you do if debt consolidation isn’t right for you? The short answer is exploring your other options. Below are a few common methods leveraged by Springfield residents.

Credit Counseling

Everybody needs a little advice from time to time. And credit counseling is a free resource providing advice about budgeting, hitting personal finance goals, understanding your credit score and more. Credit counseling is a smart solution for people looking to get their finances back on track with a bit of guidance from a third party.

Debt Management

Are you struggling to pay down credit cards or another form of unsecured debt? Then debt management might be a good route for you to take. Debt management programs help people schedule monthly payments to address unsecured debts before they become a bigger problem. If you are worried about growing credit card or personal loan debts, nip it in the bud with a debt management program.

Bankruptcy

Often thought to be a last resort, bankruptcy can redress outstanding medical bills, overdue credit card debt, and defaulted personal loans. However, you should know that in the wake of declaring bankruptcy, your credit score is likely to take a hit. This hit can have lasting effects on your ability to open new lines of credit, purchase a home in the future, and more. Be sure to research bankruptcy alternatives before leveraging this last resort.

credit counseling vs debt settlement

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

Working with Debt Experts to Put You on the Right Path Out of Debt

Navigating these options on your own can be tricky. That’s why Freedom Debt Relief provides free, no-risk consultations. Call  800-910-0065  or visit What We Do page to learn which debt relief opportunity is best fit for your unique financial situation.

It’s time you found relief from your excessive debt. Make the call today!