When you are in search of Orem debt consolidation services, you have to come to the right place.
For your free debt assessment, please submit this hassle-free form. The process is short, simple, and free.
Orem residents often decide to consolidate their credit card and/or payday loan debts within a debt management program. This DMP has many benefits:
- Single Monthly Payment
- Decreased Rates
- Forgiven Late Payment Fees
What’s more, these types of plans are generally pretty cost-effective.
Debt Consolidation Loans: Orem (UT)
The logic behind debt consolidation loans is simple: loans from a regular loan company traditionally have less expensive annual percentage rates than what you’ve been forking over to your credit card providers. Proponents of debt consolidation loans emphasize a number of reasonable advantages, such as single monthly payments, fewer calls from collections companies, and less expensive APR’s. When you opt for a loan that’s been backed by some of form of equity, there may be positive tax implications. On the other hand, if you fail to make the payments on a loan like this, you will be at risk of losing your house.
Talk to a debt consolidation expert to learn which debt relief option will be best for you.
The exorbitant interest levels imposed on payday loans in Orem, UT, mean that payday debt increases quickly. The figures are quite staggering:
- 4,396 Orem residents secure one or more payday loans on a yearly basis.
- 3,341 of these people obtain two or more payday loans annually.
- 1,934 people in Orem are delinquent on a payday loan.
Which means nearly half of payday loan debtors can’t repay these loans! On the plus side, we can help you find a payday loan consolidation firm in Orem, UT, that can help you consolidate your payday loans into just one monthly payment, handle calls from collection agencies, and limit the excessively high interest levels affiliated with payday loans.
Time to free yourself from payday debt?
Preferably, no more than 33% of your monthly income should be allotted to paying off what you owe. This means both unsecured and secured debts:
- Credit Card Accounts
- Any Loans
- Home Loans
If you make $3,117 monthly, about average average for Orem residents, then, preferably, you would spend around $1,122 monthly. Sadly, many Orem residents are in major debt, recognized by debt-to-income ratios (DTI) of 50% or higher. They’re having to spend more than $1,559 each month!
Do you have more than $10,000 in unsecured debt? If that’s the case, you really should seek the advice of a debt consolidation expert in Orem, UT.
Debt Consolidation Companies: Orem, UT
- Financial Freedom International, 472 W 800 N, 84057
- A Debt Free Consumer, 380 E 720 N, 84057