It might be possible to settle your debts for less than you ever imagined, and prevent bankruptcy to boot. At Debt Consolidation Tennessee, we can find you a debt settlement company in Ashland City, TN – right now – given how much debt you owe and your location, combined with a number of additional factors.
Legally, Ashland City debt settlement companies must disclose a good bit of details prior to joining, including how much their program costs, how much time before they speak with your credit card companies, and how much risk you will face. You’ll want to find out if your Ashland City, TN debt settlement specialist is legitimate by researching the following:
- How long have they been operational?
- How many negotiations have they managed?
- How much do they charge?
- What is their rate of success?
- Are they certified in TN?
Negatives to Debt Settlement: Ashland City, TN
Though debt settlement can bring about serious reduction in what you owe, it is only an intelligent idea for some consumers.
Before you decide to go with debt settlement, there are some things you should know:
- Harmful for your credit rating.
- Debt not totally paid back.
- Debt mounts while negotiations are going on.
- Calls from debt collectors might not decrease.
- Debt you don’t pay is usually taxed.
Don’t forget, credit card providers can take legal action in order to pursue an outstanding debt. The likelihood of your creditors filing suit is increased. Why is that? Because you quit paying your creditors on a monthly basis.
TN Statute of Limitations as Regards Credit Card Debt
Credit card providers have a limited amount of time to take legal action for debt. According to TN’s statute 28-3-109, this is 6 years.
Suitable Debt Settlement Candidates: Ashland City, TN
For you to qualify for a credit card debt settlement program in Ashland City, TN, you usually need:
- $10,000 in Credit Card Debt
- $300 a Month to Spend
Of the 16,600 people who live in Ashland City, 1,644 are thought to owe credit card debts of more than $10,000.
Your debt consultants will look at your debt to income ratio, or DTI.
To put it succinctly, if you are investing over fifty percent of what you make to credit cards, rent/mortgage, and loans, you need to talk with a debt relief coach. Considering that the average income in Ashland City is $3,434 per month, we’re talking about $1,717. You really want to try and have a ratio of around 36 percent. In Ashland City, this is $1,236, typically.
Needing to decide between credit settlement and consolidation? These are all methods of eliminating debt. Settlement sets itself apart in that it contributes to an actual cut in the amount owed. Some methods of relieving debt – for example consolidation, management, and counseling – cause as many problems for your credit scores over the years, but they are long-term options in which you repay all of your debt.
For more details, go here: credit counseling in Ashland City.
Being the most drastic debt relief option available, debt settlement is generally the highest priced.
Many settlement agencies charge a percentage of the debt you want reduced, often as much as 15 percent. Typically they are forbidden by the FTC from making you pay until a debt has been settled.
Debt Settlement Companies in Ashland City (TN)
- Tennessee debt settlement company? Contact us for a free listing!