Debt Consolidation: Virginia Beach Residents Have Options Available
Virginia Beach is a stunning beach and resort city in, where else, the historic state of Virginia. Not only is it the most populous city in the state, it is also listed as the “longest pleasure beach in the world” according to the Guinness Book of Records.
While the beaches and climate are incredible, Virginia Beach is also known and loved for its delightful suburbs, gorgeous parks (such as First Landing State Park) and boardwalk. Yes, Virginia Beach is idyllic as can be. Well, unless you are weighed down by excessive debt; but that makes everything tougher to enjoy.
Finding the Best Debt Relief Strategy for Your Situation
Did you know that roughly 80 percent of Americans are currently in debt? It doesn’t matter where you live in this country, odds are either you or someone you know is struggling with excessive debt. Fortunately, there are options to correct your situation.
Debt relief comes in many shapes and sizes. And the only way to be sure which option will be best for you is to get in contact with a debt relief expert at 800-910-0065. But if you would like a bit of information before you call, read the brief descriptions of common debt relief strategies below.
Debt Consolidation for Virginia Beach Residents
Keeping up with disgruntled creditors can be exhausting. Especially if you are juggling multiple repayment terms and due dates, while trying to make ends meet. Thankfully, debt consolidation can simplify your repayment terms. For Virginia Beach residents with $10,000 or more in debt, debt consolidation can cover all outstanding debts (whether they be credit card dues, personal loans, or medical bills) under a single loan. This makes paying down your debt easier and more manageable.
Some debtors might take out a secured consolidation loan. This means that their interest rate is likely to be lower due to leveraging a car, home or other high-value asset. If you decide to do the same (and qualify), you must be careful to adhere to the terms of your loan or else risk your assets. Unsecured loans, on the other hand, do not require leveraging assets but may come with a higher interest rate (plus these are tougher to find).
The terms for a debt consolidation loan range from 24 to 72 months. To see if a debt consolidation loan is the right course of action for you, call 800-910-0065.
Debt Management, Another Viable Option
Are you – despite your best efforts – struggling to pay down unsecured debt? You are not alone. Lots of Virginia Beach dwellers wrestle with mushrooming credit card and personal loan debt. Thankfully, there are debt management programs to help you correct course. DMPs help debtors make monthly payments on what they owe, so debts can be satisfied in a timely manner.
Debt Settlement, a Compromise
Believe it or not, you can negotiate with creditors to “forgive” a portion of your debt. In many ways, this is a win-win for both you and your creditors. You get a lower amount owed, which is easier to pay off – and your creditors secure a promise that you will pay off the agreed upon amount, rather than nothing. Working with experts at Freedom Debt Relief can ensure that you get the best terms possible. It’s no wonder that over 600,000 clients have enrolled in Freedom Debt Relief. More encouraging still is that the organization has resolved over $9 billion in debt since 2002!
Admittedly, there are a few drawbacks to debt settlement, as there are with any debt relief program. The first is that it may negatively impact your credit score. The second is that you have to pay income taxes on any settled debt to comply with the IRS. Just something to keep in mind if you do forge ahead with this debt relief option.
Bankruptcy, the Last Stand
When the demands of creditors are far beyond your means, it might be time to examine bankruptcy. Now, bankruptcy shouldn’t be your first pick when it comes to debt relief. There are major drawbacks to bankruptcy, which is why it’s often considered a debtor’s a last stand.
Note that there are two forms of bankruptcy most often considered by individuals. The first type is Chapter 7 bankruptcy which liquidated assets in order to pay off creditors. Chapter 13, on the other hand, allows debtors to hold on to their assets (such as their home or car), but requires debtors to continue to make payments to creditors. Both forms of bankruptcy can address credit card debt, medical bills, personal loans and the like. However, you should know that both forms of bankruptcy can have lasting effects on your credit – thus making it hard to get a loan in the future.
Getting Debt Relief in Virginia Beach
You don’t have to live under the cloud of debt, whether you live in Virginia Beach or anywhere in America. You have options! And help is just a phone call away. Call 800-910-0065 or click to visit Freedom Debt Relief online today. The call is a free, no-risk consultation. So, you can ask the questions you need answers to.
Don’t let debt sour your day at the beach. Call 800-910-0065 today!
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