A professional Nashville debt settlement firm might be able to get your debt reduced to less than you ever thought possible.
At Tennessee Debt Consolidation, we can connect you to a debt settlement consultant – today – that’s best for your needs. Isn’t it time to reduce your credit card debt?
Of the 413,511 people who live in Nashville, we estimate that 40,962 need to decrease over $10,000 in debt. You are not alone. Get help with debt today.
Choosing a Debt Settlement Company in Nashville (TN)
For legal reasons, Nashville debt settlement firms must disclose the following specifics before signing up. They break down their prices, their starting dates, and the risks you will be facing.
Make sure you find out whether or not your Nashville, TN debt settlement service is reputable by researching the following:
- How long have they been in business?
- How many cases have they handled?
- How much are their fees?
- What is their rating with the Better Business Bureau?
- How successful have they been?
- Are they licensed in Tennessee?
Debt Settlement Downsides: Nashville, TN
Debt settlement is the only debt relief program that cuts back on the principal. But on account of the unfavorable impact on your FICO score, it is viewed as a last resort.
Negotiating your debts in this fashion does have a number of drawbacks:
- Harmful for your credit ratings.
- Debt never fully cleared.
- Debt mounts during negotiations.
- Collection calls will probably worsen.
- Unpaid debt is usually taxed.
As a resident of Nashville, you should be familiar with the statute of limitations for debt:
- Statute of Limitations: 6 years
- State Statute: 28-3-109
- Further Information: www.lexisnexis.com/hottopics/tncode/
Minimum Standards for Debt Reduction: Nashville, TN
If you are carrying $10,000 in credit card or unsecured loan debt, can no longer make your payments, and would rather be debt free than have a favorable credit record, debt settlement may be a good option.
If you fall into this category, it’s not just you – 40,962 Nashville residents have at least this much debt.
Lenders and credit specialists will be interested in your debt to income ratio.
In a nut-shell, if you’re allocating more than half of your wages in credit cards, rent/mortgage, and/or loans, you need to talk to a debt relief coach. Seeing as the average income in Nashville is $1,583 a month, this is $792. You really want to shoot for a ratio that’s closer to 36 percent ($570 in Nashville).
Debt settlement and consolidation each have their advantages and disadvantages. All of these are methods of relieving debt. Settlement sets itself apart in that it leads to a genuine decline in the balance due. You continue to pay back your credit card companies each and every month under credit counseling, meaning your credit rating isn’t harmed as badly as it will be during a debt settlement. On the other hand, debt management generally takes longer and in the end you’ll repay your debt in full.
Read this article for more information about debt consolidation in Nashville, TN.
While debt management plans have basic monthly fees, debt settlement charges are usually applied once each account is settled.
Nearly all settlement companies charge a percentage of the balance you want reduced, often as much as 15%. As a rule, they’ve been forbidden by law from charging you until a balance has been settled.
Nashville, TN Debt Settlement Attorneys
Debt settlement attorneys are likely to be more expensive than a debt settlement consultant. The compensation structure for debt settlement attorneys in Nashville tends to be distinct. That’s fine, but they will also take a large share of debt reduction amount, normally 30 percent. As you can imagine, in the end this is more expensive than the flat rate you will be asked to pay a debt settlement firm. Remember, this lawyer can’t provide legal counsel unless they are a local Nashville debt settlement attorney, or they are licensed in the state of Tennessee.
- We The People, 2825 Hartford Dr, 37210
- Consumer Debt Counseling, 3250 Dickerson Pike, 37207
- George J M & Associates Law Office, 1007 Murfreesboro Pike, #110, 37217
- Home Buyers Network, 1218 Murfreesboro Pike, 37217
- Mullen Jessica, 618 Church St, #410, 37219
- PGL Computers, 1114 McChesney Ave, 37216
- Quality Credit Services, 404 Bna Dr, #304, 37217
- CCCS of Middle Tennessee – A Division of Apprisen Financial Advocates, 4525 Harding Pike, #211, 37205
- The Mortgage Group, , 37070
- Hudson, John Senior Rep – FDIS Tennessee Valley, 5543 Edmondson Pike, #Pike-150, 37211
- Rothschild & Ausbrooks Pllc, 1222 16th Ave S, #S-12, 37212
- Consumer Credit Counseling, , 37221
- A American Credit and Debt Counseling Service, 301 Rosa L Parks Ave, 37203
- CREDIT REPAIR NASHVILLE, , 37221
- Namc Nashville, 2206 21st Ave S, #303, 37212
- Credentials Verification Service, 163 Antioch Pike, 37211
- Consumer Credit Counseling Service, 1101 Kermit Dr, #204, 37217